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High Rise Financial takes pride in offering legal funding for personal injury lawsuits and supporting communities in need. This year, the team is thrilled to award its Financial Education PSA Scholarship to Valeria Muñoz.
Muñoz is a senior at Montclair State University with a knack for animation and a drive to help her fellow students avoid the pitfalls of student loans. She created a compelling video essay that married informative data about modern student loans with references to common memes, making her recommendations regarding loan management accessible as well as educational.
The team with High Rise Financial applauds Muñoz’s creativity and hopes that her $1,500 in winnings will help her finish her career at Montclair State University with a little less financial stress.
Meeting Valeria Muñoz
According to her LinkedIn profile, Muñoz is an aspiring HR professional currently majoring in Business Administration at Montclair State University. She intends to graduate with a concentration in Management and Human Capital Management (HR).
She currently serves as the Vice President of Harm Reduction at Sigma Sigma Sigma, supporting the development of wellness and accountability initiatives among her sisters.
Once she graduates, she hopes to learn more about employee development and to lend her knowledge to the process of creating “people-centered workplaces where individuals and organizations can thrive.”
To apply for free, call (877) 735-0016
Focusing on Student Loans
Muñoz’s scholarship video focuses on a financial topic that is near and dear to the hearts of all college students today: student loans. In a hand-animated video, Muñoz compares student loans to a small dog. While that dog can “bring students money” and help them pay for their tuition, too little attention can turn a tiny shelter dog into Clifford the Big Red Student Loan Debt.
Muñoz is quick to emphasize that there’s still hope for students who are contending with student loans. Careful consideration of a student’s financial flexibility can make all the difference in a post-graduation world. Muñoz specifically highlights four steps students can take to alleviate the stress that comes with paying off their student expenses.
She first recommends that students determine where they can cut costs to avoid taking out unnecessarily aggressive loans. She emphasizes that she drives an hour to her university every day to avoid paying dorm fees. Students who choose community colleges and more affordable housing options can take out smaller loans throughout their college careers.
Loan Interest and the Average Student
While student choice can have some impact on the debt a student goes into (or avoids), Muñoz notes that there’s an element to loans that students can’t control: interest rates. At the time she shared her video with High Rise Financial, she notes that interest rates averaged 6.39%.
Muñoz also notes that interest mounts daily. Students who want to stay ahead of rising interest rates should carefully consider which loans they intend to take out. Muñoz also recommends that students keep up on their regular payments, as consistent payment schedules can alleviate financial disasters.
Scholarships Make Finances Easier to Manage
Muñoz also recommends alternatives to student loans. Scholarships, she emphasizes, are debt-free ways that students can fund their collegiate education. There are hundreds of scholarships available to students, with variations depending on who’s offering them and their qualifying criteria.
While many of these scholarships can require a lot of work, Muñoz notes, the effort is often worth it. Taking the time to draft an essay or create a video can make a world of difference when it comes time to graduate. Students with more scholarship support will have less to pay back to lenders once they enter the professional world.
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Awareness Reduces Risk
Finally, Muñoz emphasizes that students should not let their debt surprise them. Students who monitor their financial health throughout their college careers can know what to expect after graduation and better prepare themselves to manage their finances.
Muñoz also argues that awareness can reduce students’ fears about post-graduation life. A student who knows what to expect from lenders can prepare accordingly, preventing the “scary dog” from her initial metaphor from taking over their lives.
Learn More About High Rise Financial’s Financial Education PSA Scholarship
High Rise Financial’s Financial Education PSA Scholarship encourages qualifying students at accredited United States schools to think critically about their relationship with money. The scholarship prompts students to create a public service announcement (PSA) encouraging their peers to take a critical approach to their financial health.
The scholarship selection committee with High Rise Financial reserves up to three months to choose who receives its annual Financial Education PSA Scholarship.
The winning student will receive $1,500 to dedicate toward their academic fees.
Three Cheers for Valerie Muñoz!
The team with High Rise Financial once again congratulates Valeria Muñoz on winning this year’s Financial Education PSA Scholarship. The scholarship selection committee appreciated Muñoz’s incredible creativity paired with the informative nature of her essay.
Anyone interested in following Muñoz’s example and applying for next year’s Financial Education PSA Scholarship can visit the scholarship’s terms and conditions page to learn more about its updated submission deadline and qualifying criteria.
Call or text (877) 735-0016 or fill out our form to apply today for free.