Most students watch pennies at school financial fair

By John Howell
Posted 3/22/18

By JOHN HOWELL -- Students at Toll Gate High School got a lesson in financial awareness that will hopefully serve them well going forward during their Financial Education Fair, sponsored Tuesday by Wave Federal Credit Union.

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Most students watch pennies at school financial fair

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Students at Toll Gate High School got a lesson in financial awareness that will hopefully serve them well going forward during their Financial Education Fair, sponsored Tuesday by Wave Federal Credit Union. 

It would appear many of the students had listened to School Committee member Eugene Nadeau, one of several officials along with Wave president Paul Archambault and Mayor Scott Avedisian, to welcome students in the personal finance classes taught by Laurie Mockler.

Nadeau warned students about borrowing for their education and running up debt.

“I beg of you to talk to your parents. They are your best teachers because they teach you with love,” he said.

He said on average the Rhode Island student graduating from college is carrying $38,000 in student loans.

“You can’t do that kind of borrowing without paying it off,” he said.

A retired banker, Nadeau is an advocate of personal finance classes in high school and sought to implement them as a graduation requirement. That hasn’t happened, but that hasn’t stopped Nadeau from prophesizing about the importance of financial education.

Kelsey DiCarlo has her sights set on an accounting job and making enough money so she doesn’t have to live paycheck to paycheck. Her plan upon graduation is to attend CCRI. Alex Werner wants to follow her passion to be a marine biologist.

“I know that doesn’t make a lot of money,” she said.

Both girls were talking about finding roommates to reduce living costs.

Pinching pennies appeared to be the mantra for most students. Samantha Samagaio of Elmwood Chrysler Dodge Jeep RAM, one of several participating companies, carried a handful of brochures of the latest vehicles.

Had there been a lot of interest other than Bishop who had a Jeep in his sights?

The answer was no. “Most wanted to know about previously owned vehicles,” she said.

Candice DiSaia likewise found students careful about their spending. She works for Donovan Travel and has participated in the financial education fair for several years. Students inquired about vacation options, but didn’t add that to their budget, suggesting they would wait.

DiSaia was encouraged by what she heard from students. She said many of them talked about taking advantage of the governor’s RI Promise of two years of free tuition at CCRI and how it would give them a jump start on a degree without piling up debt.

This is the seventh fair conducted by Wave. Wave president Paul Archambault feels the fair helps students understand the importance of establishing and maintaining good credit. Wave also looks to help out by offering free student check accounts and debit cards.

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