As a first year seminar mentor, I have been exposed to a lot of incoming students who are facing financial troubles. With no idea on how to budget their money or how to spend it wisely, students are facing debt. In fact, the U.S. student loan debt outstanding amounted to $1.48 trillion, a total more than five times the amount borrowed in 2003. Therefore, this is where FinPac comes in. We aim to bring awareness to high school juniors and seniors to help them strategically plan how much student debt they would face upon attending college.
We learned so much about how we can work together as a team to motivate each other after 15 hours of coding and how to think of ideas that we are passionate about. We spent the entire Thursday night bouncing ideas back and forth off of each other but the one that stood out was about debt because that is a personal experience for each student. However, it doesn't have to be an individual experience because there are thousands of students who are facing the same issue. We learned that it's one thing to have an idea but to physically build it out with Python and HTML to make it a reality for users to have in their hand.
We built a website where it allows the student to choose what college they would ideally like to attend and input certain characteristics such as how much loan they would want to take out and the family contribution. In the backend, our financial calculator would end with their post-graduate debt based on a manually-inputted interest rate.
The challenges that we faced was the lack of experience in coding as the team are all beginners. However, I think our dedication and passion is what keeps us focused and got us to the last stage.
Thank you all and we know that even after the Hackathon is over, we want to continue this project because this is something that inspires us to work harder.