By: Eric Davies
SHIPPENSBURG –From finding a job to finding a new place to live, graduating seniors have a lot to consider. Some things that might not come to their mind are all the unfamiliar bills and taxes that they could be faced with. For some college students, these bills have been covered by parents or legal guardians for their entire lives.
This can be an overwhelming experience, but, luckily, there are resources on campus that can help students prepare.
Doctor Paul Taylor is a professor of mathematics, who has taken an interest in teaching students how to manage money more effectively. His course titled “math models applied to money” and aims to do just this.
“The point of the class is to make the students feel more confident in their ability to do the math so that they won’t be afraid, they can do those computations ahead of time or if they get themselves into trouble with a lot of debt, they can figure out how to get themselves out of that situation by doing the computations,” explained Taylor.
But Taylor isn’t the only professor on campus who helps with this. Doctor Fan Liu is an associate professor in the finance department, who urges students to start considering their finances more thoroughly.
“My advice for graduating seniors would be to pay off your debt as soon as possible. So create a payment plan. For example a student loan. So if our seniors do have student loans my suggestion would be that when you get your first job you probably want to set a plan to pay that loan on time,” said Liu.
Doctor Taylor’s course does exactly this.
“The idea of the class is that as you go through life there are many instances when you deal with money and it’s complicated,” Taylor explained. “The typical example that people come across is paying a loan. Your monthly payments as you’re repaying a loan rely on how much you borrowed and how much the interest rate is and the formulas to figure that out are pretty complicated, so that’s the kind of thing we work out in the class.”
If the thought of these formulas does not appeal to you, the business department offers a one hundred level personal finance class.
The class discusses things such as insurance, banking and plans for retirement. Dr. Fan Liu ensures that it will provide all of the knowledge that you need.
You can sign up for these courses during scheduling, but Taylor’s class is only offered in the spring.
For more information, e-mail Dr. Taylor at email@example.com.