April is financial literacy month. Today a few of our students got to meet and have a conversation with Congressman Adrian Smith.
He spoke to students about how important it is for students to not take out the full amount of student loans given to students. This will help with not accumulating so much student loan debt. The Congressman also spoke in detail about what inflation will do to the price of goods and services. He talked to us about what we need to do to reduce the inflation rate. The inflation rate is currently at 8%. There are a few ways this can be reduced but first the government has to stop spending so much money. Another way to achieve lower inflation is to increase the interest rate above the inflation rate. This would create different problems. Imagine going to purchase a new car and having to pay interest over 8% on a car loan.
Students learned what the war in Ukraine will do to crop prices here as their supply will be down. Also the reason our fuel prices have increased is due to the halting of mining our own resources.
Congressman Adrian Smith came to Hay Springs High School because our business classes are participating in the Capitol Hill Challenge in which they are playing the Stock Market Game against other schools.