The national debt of the United States currently stands at a little over $18 trillion and is pushing upwards with each passing day. The millennial generation in the future will be left to deal with attempting to pay off this insurmountable number. However, all hope is not lost according to Ramona Hale- Coley.
Hale-Coley, a 2004 Smeal graduate and author of the book, Walking Towards Financial Freedom, came back to her alma mater Thursday to speak with students about the national debt as part of the Up to Us campaign.
The Up to Us campaign is a nationwide campus competition to educate students about the national debt. Hale-Coley gave insight on why the national debt has continued to swell at an alarming rate, much of it due to our dependence on credit. Also discussed was how our mentality about spending needs to change and our current way of just implementing short term solutions that merely act as a “band aid.”
Hale-Coley made the presentation relatable to the college-millennial audience and referenced how the upperclassmen will soon enough find themselves with mortgages and car loans while the freshmen and sophomores may currently be taking out student loans. She tied this back in with the national debt and how the more debt we incur as a nation, the more expensive our loans will become for us with higher interest rates and inflation that makes everything we purchase more expensive.
Hale-Coley finished off the presentation with a quote from Martin Luther King Jr., “The time is always right to do what is right.”