GREENSBORO, N.C. — School is back in session for millions of K-12 and college students. Money Expert Ja'Net Adams is the founder of Debt Sucks University. She shared ways the economy could impact the new school year.
A Whole New Frontier
School is starting back soon and this year at all grade levels are looking a lot different from last August. The differences could affect your child's grade or your wallet. I want to share three of the differences so that this school year and everyone goes a little more smoothly.
The Good and The Bad
Let's start with the college students because I believe their world has been rocked the most and it is affecting the amount of money they are receiving for their college education. The good news is that the FAFSA form was revamped to fix a lot of the problems people complained about, but the bad news is it has been a rocky rollout. Families and colleges are struggling to get the right numbers for financial aid. Seeing how this year went I suggest students and their guardians remember what worked and what didn't this year so that next year the process is easier.
Teachers Are Now Detectives
With the rise of Chat GPT students now have a tool to help with research, but also a tool that could help with cheating. Teachers this year returning to school from K12 to Higher Education have to become detectives to try and figure out if the essay paper from a student is from a student's brain or Chat GPT. Parents also need to be careful because what if your twelfth grader gets accused of cheating with Chat GPT, but they did not cheat, then your student is going to have to prove their innocence. Classrooms could become very tense this school year.
A Slower Economy Is A Good Thing
Today's August economy looks a lot different from last August's economy. It is not growing at the same rate and that is great for you as a parent. Mainly because there are sales everywhere and the sales started earlier than usual. Sales on school supplies, clothes, uniforms, snacks, everything for school. The back-to-school consumer is financially winning this year so make sure to take advantage.
This school year looks a lot different than last year, but if you stay focused you could save a lot of money!