Financial Education Resources for Young Adults
Start your finances out on the right foot with these helpful resources
College Bound?
There are three key questions to ask yourself when thinking about college:
- Is college the right path for me?
- Where should I go?
- How will I pay for it?
Let’s break it down:
Step 1: Choose a Career Path – “What do you want to be when you grow up?”
Knowing your future career—or at least narrowing it down—can save you time and money when choosing a school or program. If you’re unsure, try these ideas:
- Make a list of your skills, strengths, and interests
- Think about past jobs or volunteer work—what did you enjoy?
- (Helping others, being creative, working with your hands?)
- No experience? Get an internship or volunteer in a field that interests you
- Take free online career assessments to explore options
- Research fields that are in high demand (like healthcare, trades, or education)—these often come with job security and industry-specific scholarships
- Shadow someone at their job to see what the day-to-day is really like
Step 2: Choose the Right School
- Location – Is it somewhere you’d enjoy living? Close to home or far away?
- Program Reputation – Does the school specialize in your field of interest?
- Cost – Consider tuition, living expenses, and potential debt. Will your future salary justify the cost?
- Campus Feel – Visit the school if possible. Does it feel safe and welcoming? Can you picture yourself growing there?
Step 3: Pay for School
There are five main ways to pay for your education:
- Out-of-pocket savings
- Work-study jobs
- Student loans
- Grants (free money you don’t repay)
- Scholarships
If you plan to use federal loans, grants, or work-study to help pay for school, your first step is completing the FAFSA. Many scholarships and schools also recommend or require it, even for merit-based aid. FAFSA determines your eligibility for grants, loans, and work-study programs. It’s best to apply early!
Local Scholarship Opportunities
There’s a lot of free money for college out there—you just have to know where to look! Many scholarships go unclaimed each year, so it’s worth applying for any you might qualify for.
One local option is Madison Credit Union’s Roots to Rise Scholarship, awarding $1,000 to a student making a positive impact in their community and carrying forward the spirit of people helping people. Other local scholarships include:
- University of Wisconsin System School Scholarships – General and degree specific scholarships
- Wisconsin Private Colleges and University Scholarships
- Wisconsin Technical College Scholarships
- Bucky’s Tuition Promise – UW-Madison pledges to cover four years of tuition and segregated fees
for any incoming freshman from Wisconsin whose family’s annual household adjusted gross
income is $65,000 or less. - Unusual Scholarships
There are also plenty of Minority Specific Scholarships:
Need help applying for scholarships or working on other writing projects? Set an appointment with Madison Writing Assistance for free one-to-one writing help!
