GERALD GREENE: The importance of financial literacy

Did you know that by the year 2025, it is estimated that 60 percent of jobs in Georgia will require some form of post-secondary credential? We must work together to make sure the students of south Georgia are prepared for education beyond high school, and that begins with financial literacy.

It is never too early (or too late) to begin planning for college, which is why I applaud Gov. Brian Kemp’s proclamation recognizing April as Financial Literacy Month in Georgia.

Financial literacy is an essential life skill because it equips us with the knowledge we need to manage money efficiently. Ensuring our young people have the necessary knowledge to make informed financial decisions must become a community responsibility. I would like to challenge everyone to talk to a young person about financial literacy during the month of April.

Not sure where to start? The Georgia Student Finance Commission offers a variety of free resources on its website, www.GAfutures.org. As the administrator of Georgia’s nationally recognized HOPE Scholarship and Grant programs, GSFC has been a trusted resource for Georgia students and families during the college planning process for more than 50 years.

While paying for college may seem far away, every parent or guardian should talk to their child about basic financial principals. If you are the parent or grandparent of a young child, have you considered opening a 529 savings account? Path2College 529 is Georgia’s official college savings plan, and contributing to a college fund is a great way to set a student up for post-secondary success.

Are you the parent or guardian of a high school senior? If so, please ask them if they have completed the Free Application for Federal Student Aid. This form is the gateway for college financial aid, including Pell Grants. Georgia students leave millions of dollars of “free” money on the table when they fail to complete the FAFSA.

Thanks to conservative leadership, Georgia has been ranked as the Top State for Doing Business for eight consecutive years by Area Development Magazine. This ranking reflects Georgia’s strong economy and the good jobs that are waiting for the state’s graduates.

Let’s make sure that paying for higher education is not an obstacle. My colleagues and I in the General Assembly have worked tirelessly to make sure that all Georgians have an opportunity to pursue education beyond high school, regardless of zip code. By talking to our young people about financial literacy now, we can prepare the next generation of leaders to graduate in a stable financial position and make sure Georgia remains a great place to live, work and raise a family.

File Photo