July 20th,

ISSUE 1
2024 FINLIT NOW
Your Fate in the Future Dynamics of Global Economics

WealthWise
Is financial aid the sore roadblock in the path to your dream university? As the student debt crisis reaches the tipping point, undermining
the progress in making education accessible and prompting global protests, change is inevitable! Fortunately, this change is occurring faster
than ever.
Window of Opportunity
In an unprecedented and welcome move, major banks have slashed education loan interest rates to historic lows, making higher education more
accessible than ever before. Strikingly, the global average interest rate for private student loans has dropped from 8.5% to 5.2% over the past
year. Federal loans, such as Direct Subsidized Loans for undergraduates, now have interest rates as low as 2.75%, down from 4.53% previously.
This significant drop in rates means that a student borrowing $10,000 over a 10-year repayment period could save over $2,000 in interest
payments compared to rates from last decade. Click to learn more about financial loans

The Power of Financial Literacy

In today's dynamic educational landscape, financial literacy is indispensable—a crucial tool to prepare for success despite challenges.
Game-changing innovations such as the "Student Budgeting App” have promoted financial literacy- enabling students to track their
expenses, minimize budgets and repay debts. In fact, by promoting smart spending habits and budget management skills, this app supports
students in their academic journey and prepares them for a financially responsible future. In addition, the rise of student saving programs
and workshops on budgeting and managing expenditures have equipped students to repay their student debts and loans.

Rehabilitation
Policy changes, such as student loan forgiveness, offer much-needed relief to thousands of graduates burdened by debt . The Public Service
Loan Forgiveness (PSLF) program saw a 30% increase in applications last year, with over 150,000 new applications submission. In addition, the
education loan industry is becoming more flexible and transparent, allowing students to customize their loans to their situations and thus
adapt better to unforeseen circumstances by integrating technologies like “FinTech”. Lastly, new legislation has been passed to cap interest
rates on federal student loans, providing much-needed financial relief to students. The Student Loan Fairness Act caps interest rates at 3.4% for
undergraduate loans and 4.5% for graduate loans. This legislative move ensures that loan repayments remain manageable, preventing the
accrual of insurmountable debt. Click on to learn about the most recent financial policies that effect student loans

As this transformation seizes the

globe, the time is ripe for change at
a personal level. Riding to your
university with $20 in your pocket
or drowning in debt whilst in your
3rd year, shouldn’t be a dream vs a
nightmare. To alleviate this
burden empower yourself by by “
S.P.E.N.D W.I.S.E” : save regularly ,
plan your budget, eliminate debt,
navigate loans wisely, diversify
your investments, watch spending,
insure your future, study financial
markets and embrace financial
literacy.

"Risk comes from not knowing what you're doing.” ~ Warren Buffett"

~ BY SAANVI AND REEYA , DPS INTERNATIONAL GURGAON 01 STUDENT EDITION

 Digitally Savvy, Financially Free
Economic digitization is inevitable, and is now reality that effects everyone and every part of the world. It has fostered the growth of
opportunities and challenges, specifically effecting teen-ager and young entrepreneurs and economists.
Digitisation has led to a paradigm shift in access to online information and resources. This enables students to learn, research, innovate and
engage further with the global economy in ways previously unimaginable.
Access to Technology (% of global population) Fraudulent Cases (in millions) This increased access to information facilitates the growth of a more
70 informed and skilled workforce, which is vital for economic growth. Digital
platforms have also fostered entrepreneurship among youth. Students can
60 now leverage online marketplaces and social media to launch businesses
with minimal upfront costs. This boosts economic growth and encourages
50 economic development by creating new jobs and services.
40

30
However, the digital economy has its risks and demerits, that are becoming
more devious yet obvious with each passing second. Digital fraud being the
most daunting:. Users are scammed through illegal and dishonest practices;
20 as cybercriminals exploit vulnerabilities in online systems. Students also
tend to become targets of such criminals and thus they become vulnerable to
10 scams such as phishing, identity theft, and fraudulent online schemes.
Therefore, , digital citizens must become more digitally literate to safeguard
0 their economic transactions and personal data.
2018 2019 2020 2021 2022

In all, digitization is indeed reshaping the economy in profound ways as it presents a landscape of opportunities for students with
considerable risks. By embracing the new values associated with financial and digital literacy along with being informed about potential
pitfalls, students can navigate the digital economy and effectively contribute to its sustainable growth. Click on to learn more.

The Fraudulent Prince

CryptoRevolution
When considering the influence of the 3rd wave of digitization on cryptocurrency, the rise of cryptocurrency is the forefront of the debate. As
traditional financial structures evolve, the adoption of blockchain technology and digital currencies presents both opportunities and
challenges, driving the need for innovative solutions and regulatory frameworks. The ongoing digital revolution continues to propel
cryptocurrencies into mainstream financial discourse, influencing investment strategies and economic policies globally. But what does this
mean for students? Should they invest in it?
Cryptocurrency is a game changer: Cryptocurrency Pitfalls:
Empowers students to manage and grow their money independently Cryptocurrencies are highly volatile.
Simplifies international payments with low fees and fast transfers. Increased exposure to cyber theft, scams, and hacking
Opens access to blockchain-based scholarships and educational resources. Uncertainty due to minimal regulation

Youth Opinion

02 STUDENT EDITION
 The Falling Cards of our Future Economy
Standing in the midst of dreadful wars, unprecedented geopolitical tensions, and a brewing global recession, it’s no hidden secret that we are
in the epicenter of economic upheaval. The domino buildup of these cascading crises are threatening civilizational collapse. The ubiquitous
question remains: Will the post-World War II slump repeat despite our best efforts? And more crucially, are we prepared to handle the
economic aftermath of ongoing conflicts?. While our future possibilities drown in uncertainty, the only thing certain is that denizens across
the globe must seize control of economy in their own hands.

Wars and geopolitical tensions are not just humanitarian crises; they are
economic catastrophes that ripple through every aspect of global society.
The Ukraine-Russia conflict has disrupted global supply chains,
particularly in energy and agriculture, causing significant price
volatility and shortages worldwide. As a result, energy prices surged by
50% in 2023, and global food prices hit a ten-year high.
Renewed tensions in the Middle East have heightened concerns over
global energy security and economic stability. In 2023, crude oil prices
in OPEC countries spiked by 30% to an average of $90 per barrel, .
Global inflation rates soared to an average of 6.5%, with emerging
economies experiencing rates above 10%, eroding purchasing power
and increasing living costs.
Concurrently, global debt reached $305 trillion, with government debt
constituting 40% of this total. Click to learn more .

What does this mean for

the future? The future is
bleak, the International
Monetary Fund (IMF)
projects global economic
growth to slow to 2.8% in
2024, down from 3.4% in
2023. Inflation is
expected to remain high,
averaging 6% in
emerging markets and
4% in advanced
economies. “The world is
at a crossroads where
economic policy
decisions will determine
whether we face a decade
of stagnation or a robust
recovery,” said Kristalina
Georgieva, Managing
Director of the IMF

A Bright Spot in A Gloomy Global Economy

The silver lining to the dark cloud is that the power to reinvent, rehabilitate, and reform our economy lies as much in our hands as it does in
those of global policymakers and governments. Individual and collective actions can drive significant change. For instance, young
entrepreneurs are reshaping industries with innovative solutions and sustainable business practices, demonstrating that grassroots
movements can have far-reaching impacts. Organizations like the Global Youth Entrepreneurship Summit, which saw a 40% increase in
participation last year, illustrate how youth-driven initiatives are setting new standards for economic resilience and creativity. Similarly,
community-led financial literacy programs, such as those in Singapore that have educated over 500,000 individuals, prove that local efforts
can create a ripple effect of economic empowerment and stability.

The power to shape a resilient, robust and dynamic future economy is in everyone’s hands, it is up to us to yield it wisely and transform our
collective destiny. So what can you do? Educate yourself by learning about financial literacy, safeguarding your future and using budgeting
tools; Empower yourself and others through new entrepreneurial ideas and advocacy for financial education in school and community
programs and engage in economic policy discussion by questioning policymakers and governments.

03 STUDENT EDITION
 EconoQuest
Economix A Short Trip to your Future

Zodiac Fortune
Aries: With Mars fueling your drive, expect bold investments to yield
high returns this month."
Taurus: "Stability is key—focus on solid, long-term financial growth
rather than quick wins."
Gemini: "Adaptable and quick-witted, you might spot lucrative
opportunities in volatile markets."
Cancer: "Emotional intelligence will guide you to secure and
nurturing financial decisions."

Name the Fame Leo: "Your leadership skills could shine in collaborative ventures or
entrepreneurial endeavours."
Virgo: "Attention to detail and thorough analysis will help you
optimize your financial strategies."
Libra: "Balance and harmony in your investments will lead to
equitable growth and prosperity."
Scorpio: "Intense focus and strategic planning may unlock hidden
opportunities for financial success."
Sagittarius: "Embrace risk with caution—your adventurous spirit
This entrepreneur founded This tech pioneer revolutionized This mysterious figure
could lead to rewarding financial ventures."
a social media giant that social media and is a vocal introduced the world
connects billions globally. advocate for women in tech. to cryptocurrency with Capricorn: "Dedication and perseverance will pay off; steady,
He’s known for his passion Known for her innovative spirit a groundbreaking disciplined investments will build wealth."
for Mandarin and his and high-profile leadership, she’s digital currency that
breaking barriers in the digital revolutionized finance. Aquarius: "Innovative approaches and forward-thinking ideas might
mission to build a
world. Who is she? Who is he? revolutionize your financial outlook."
metaverse. Who is he?

YouthQuake: Will the Next Generation Shake the Economy?

India as a nation, is a testament to the power of youth with over 100 unicorns and a vibrant startup ecosystem revolutionizing various sectors.
Indian youth contribute to 30% of India’s GDP, driving innovation, entrepreneurship, and economic growth across the country. But, Is the future
of India’s economy written in the hands of today’s youth? And more crucially Can the youth build resilience to unprecedented challenges of
today and tomorrow, in a dynamically haphazard global economy aka VUCA world? To answer this ubiquitous and dynamic question, I am
honoured to invite Mr. Sarth Jain - Founder of Xponents Ventures and WORTHY Global DeFi, which has invested in and mentored over 100
young entrepreneurs and shaped 50+ fintech companies.
Interviewer: How can young entrepreneurs thrive in a VUCA world?
Interviewee: Young entrepreneurs can navigate VUCA complexities by leveraging adaptability, innovation, and resilience to drive
growth and tackle uncertainty.
Interviewer: How can young leaders not only become participants but also pioneers of change?
Interviewee: Young leaders can pioneer change by embracing continuous learning and developing skills in financial and digital
literacy to lead effectively in a rapidly evolving landscape.
Interviewer: In the contemporary world, “Ethical Economics” has become a buzzword…. But what does it really mean? And why is
it important?
Interviewee: Ethical Economics focuses on responsible business practices and is crucial for shaping a sustainable future by
ensuring businesses contribute positively to society. Investors value purpose-driven founders because their commitment to a
singular goal can drive impactful and sustainable outcomes, often outweighing mere commercial objectives.
In all, the future of the global economy lies in the hands of the youth driving innovation and change.

04 STUDENT EDITION