Help Your ‘Money Smart’ Students Win $1,000 for College

Don’t let your students miss the opportunity to enter this year’s Money Smart Week Wisconsin student essay contest. The deadline for them to enter is Friday, March 13.

The Wisconsin Coalition on Student Debt that WEAC Region 6 is part of is sponsoring the contest. Three graduating high school seniors from the school districts contained in WEAC Region 6 (Dane, Grant, Green, Iowa, Jefferson, Lafayette, Rock counties) can win scholarships in the form of $1,000 Edvest gift cards by writing 500-word essays addressing this year’s Money Smart Week question:

In 2019, the average debt for a Wisconsin student graduating with a bachelor’s degree was approximately $31,705. About two-thirds of students take out loans.

In 500 words or less, please address these points: 

•Estimating the total cost of your education explain how you plan to pay for college. When you calculate the cost of your education be sure to include tuition, room, and board. A few other costs to consider include textbooks, supplies, lab fees, parking fees, meal plans/food, living expenses, etc.

•It is likely you will have some student loan debt when you graduate. Describe how you plan to keep your student loan debt at a minimum.

•Discuss how the cost of your education and possible student loan debt compares to the potential salary you may earn in your chosen field upon graduation.

•From a financial standpoint, what impact would this scholarship have on your freshman year?

Created by the Federal Reserve Bank of Chicago in 2002, Money Smart Week is a national public awareness campaign designed to help consumers better manage their personal finances. Money Smart Week Wisconsin is part of the national initiative in partnership with the Chicago Fed and the Wisconsin Department of Financial Institutions. The Southwest region includes partners from WEAC Region 6, area businesses and other organizations that collaborate to offer financial wellness programming, events and activities for people of all ages and income levels. Learn more about National Money Smart Week at moneysmartweek.org.