On Tuesday, I had the pleasure of attending a panel discussion hosted by The Huffington Posts titled, Can We Still Save for College?
and, What Can We Do Now?
We are looking at how we can be more financially prudent when attending college.
The topic was about the potential financial benefits of attending college, with panelists including a former executive at a leading nonprofit that provides financial aid to students, and former president of the National Association of College and University Presidents, Michael C. McNeil.
The conference was also attended by former Secretary of State Madeleine Albright and a former adviser to former Vice President Joe Biden.
The panelists were among a group of college students and alumni, alumni of financial aid organizations, and faculty and staff who participated in the “We Can Still Save” conference.
I was particularly struck by how the participants all shared a common theme: They wanted to help their students be more efficient in their financial decisions.
The conversation then moved to how to be financially responsible.
I found myself in a conversation with former president McNeil who had shared a similar sentiment when he first joined The Huffington post.
“My experience was that many people felt that there was a gap in their lives between how they were earning their money and how they could spend it,” McNeil said.
“Many of us had a feeling that we were either not paying enough or that we didn’t want to.”
After discussing how financial aid and the debt they owe may impact financial decisions, McNeil then shared his own personal story of a student who decided to take out a loan to pay for a business trip and went to college with no savings.
After a year and a half of college, McNeill said he started having trouble making ends meet, so he started to look for financial assistance.
He found a group that offered help to students and families who could pay for it themselves.
“We were really impressed by the response,” McNeill told me.
He explained that they received over 10,000 student calls a day and had over 2,000 students contact them each month, most of whom were on the verge of dropping out of college.
McNeill also said that students who had financial aid had “more faith in us and the financial aid we offer them.”
The panel’s panelists agreed that we can all make financial decisions that are more efficient and effective.
In the end, the panelists concluded that there are a number of ways to be more effective financially.
“There is a lot of potential in this, and you need to take advantage of that,” Mc Neil said.
We have the ability to save a lot, he added.
“I think there are opportunities for us to get ahead and really build our wealth.”
I was inspired by the comments of one panelist who spoke about the value of investing.
In addition to the panel, I was joined by former president Biden, former Secretary Albright, and President McNeil at the conference.
Vice President Biden gave a speech about his experience as a student at an elite private college and how it changed his life.
He also mentioned that, despite the challenges facing many college students today, he believes that there is still much that can be done.
I am hopeful that our students will learn from this conference and find a path forward that is more sustainable and effective for them, Biden said.
I hope we will find ways to continue to help our students achieve success.