DECA Direct | March-April 2017 by DECA Inc.

MARCH-APRIL 2017

THE FINANCE ISSUE

www.decadirect.org

DECA DIRECT

TABLE OF CONTENTS

KEEP THE DECA MOMENTUM GOING

EDITORIAL

Publisher Paul A. Wardinski Managing Editor Janelle Arrighi Editorial Committee Jeff Collins, Sarah Williams, Christopher Young Advertising Cindy Allen, Nick Edwards Design Frank Peterson, Shawna Hession

DECA EXECUTIVE OFFICERS President Donald LeCompte North Atlantic Region Vice President Emily Fraser Central Region Vice President Brandon Allen Southern Region Vice President Victoria Meng Western Region Vice President Rohan Ghiya

COLLEGIATE EXECUTIVE OFFICERS President Alyssa Duncan Vice President Cameron Brown Vice President Mike Rich Vice President Felix Albl Vice President Terrius Harris

4 WAYS TO KEEP YOUR CHAPTER CONNECTED DURING #SUMMEROFDECA

HOW TO INCLUDE DECA EXPERIENCE ON YOUR RÉSUMÉ

3 WHERE WILL COLLEGIATE DECA TAKE YOU THIS SUMMER?

NEW CAREERS EMERGING IN THE FINANCE FIELD

HOW TO BE FINANCIALLY SAVVY IN COLLEGE

BOARD OF DIRECTORS

EDITORIAL CORRESPONDENCE DECA Direct Magazine 1908 Association Drive Reston, Virginia 20191-1594 communications@deca.org

CPAS KEEPING EVERY INDUSTRY ON TRACK

DECA Direct (ISSN 1080-0476) is published four times each year—September/ October, November/December, January/ February and March/April. Copyright ©2017 by the Distributive Education Clubs of America, Inc., 1908 Association Drive, Reston, Virginia 20191-1594. All rights reserved. Annual non-member subscription rate is $5.00. Periodicals postage paid at Herndon, Virginia and additional mailing offices. $1.00 of membership fee goes toward subscription to DECA Direct, a publication of DECA, (USPS 566-200), Volume 5, Number 4. Postmaster—Send form 3579 for change of address to: DECA Direct, 1908 Association Drive, Reston, Virginia 20191-1594.

4 THINGS TEENS ABSOLUTELY MUST KNOW BEFORE TAKING OUT A STUDENT LOAN

ountants

d Professional Acc

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Association of Inte

45186973.07

CHAPTER BUZZ

MARCH-APRIL | 2017

President Kevin Reisenauer President-Elect Mary Peres Secretary Pam O’Brien Treasurer Ev Vaughan Members Jeff Back, Ginger Hill, Olga Plagianakos, Jackie Schiller NAB Chair Stephanie Wissink Ex-Officio Members Tammie Brewer, Paul A. Wardinski

KEEP THE DECA MOMENTUM GOING HIGH SCHOOL DIVISION EXECUTIVE PRESIDENT

@deca_donald

MAR APR 1

Advocacy Campaign due Association Administrator of the Year Award recipients due Association Chapter Advisor of the Year Award recipients due ICDC competitors’ final membership eligibility

Advisor scholarship applications postmark deadline Executive Officer Candidate applications due

24 ICDC registration and hotel rooming list/ deposit due from chartered associations

Piper Jaffray Taking Stock with Teens Spring Survey ends

26-29

DECA International Career Development Conference Anaheim, CA

The school year may be coming to an end, but that is no excuse to let your DECA momentum fade away! Traveling to new cities, studying unique passions and making lifelong friends are just some of the incredible experiences that DECA members around the world have had so far this year, and there is no reason that you can’t continue to make even more memories throughout the next couple of months. For over 17,000 DECA members, the most exciting event of the year is quickly approaching – the International Career Development Conference! We can’t wait to welcome many of you to Anaheim, Calif., where we will celebrate our accomplishments and crown the international champions in our competitive events. For those of you who won’t be attending #DECAICDC, there are many things you can do in your chapter to keep the DECA momentum going. Organizing a community service project or planning an endof-year recognition party are great ways to keep everyone engaged until summer break begins. You can even get a head start on the next school year by electing your 2017-18 chapter officers! When the school year comes to an end, the #SummerofDECA excitement will begin to heat up. With so many conferences and activities happening during the summer, make sure that you keep sharing all of your chapter’s activity on Twitter and Instagram with #SummerofDECA. For our graduating seniors, you can keep your DECA experience going this fall by joining a Collegiate DECA chapter or by becoming an alumni member. The connections that you made during your time in DECA will only continue to grow when you take your membership experience to these next levels. Even though you have already had an amazing year with your chapter and association, that doesn’t mean that now is the time to stop! Stay engaged and keep the DECA momentum going so that you can truly Own Your Future!

MARCH-APRIL | 2017

DONALD LECOMPTE

WHERE WILL COLLEGIATE DECA TAKE YOU THIS SUMMER? COLLEGIATE DECA EXECUTIVE PRESIDENT

@decapresalyssa

MAR APR 1

Collegiate DECA Academic Honor Award applications due Association Administrator of the Year Award recipients due Association Chapter Advisor of the Year Award recipients due Leadership Passport Award submission deadline Community Service Award submission deadline Chapter Leadership Award submission deadline

Advisor scholarship applications postmark deadline Executive Officer Candidate applications due

Collegiate DECA ICDC registration due to DECA Inc.

Collegiate DECA ICDC hotel reservations due to Hilton Anaheim

Recipients of student, advisor and chapter recognition announced

19-22

Collegiate DECA International Career Development Conference Anaheim, CA

How will your summer be impacted by Collegiate DECA? Do you plan on meeting up with your chapter members for some summer fun or an officer retreat? Will you be spending some free time practicing for the upcoming competitive event season? Maybe you’re planning on interning with one of your favorite Collegiate DECA corporate partners! However you plan to spend your precious summer months, the best part about being in Collegiate DECA is that you can reap the benefits of membership even when school isn’t in session! If you’d like to spend the summer gaining professional experience, be sure to connect with our amazing corporate partners through the DECA LinkedIn Group at linkd.in/decainc. This is a great way to stay up-to-date on internship or job opportunities, industry trends and more! DECA’s partners absolutely love Collegiate DECA members because of their hard work, determination and positive attitudes. Don’t be afraid to introduce yourself at the upcoming International Career Development Conference in Anaheim, Calif., and then follow up with a LinkedIn invitation or personal message to keep the conversation going. No matter what you end up doing this summer, you can always stay connected to Collegiate DECA thanks to social media! Be sure to follow @CollegiateDECA on Twitter for the best updates all summer long, and share your own exciting adventures with Collegiate DECA using #SummerofDECA. You may even be featured on the @DECAInc Instagram account! Last, but certainly not least, don’t forget to keep checking decadirect.org all summer long so you’ll be more than ready to hit the ground running once school is back in session this fall. From best practices and recruitment ideas, to competition tips and Leadership Passport Program information, decadirect.org is your one stop shop for the most successful Collegiate DECA experience.

MARCH-APRIL | 2017

ALYSSA DUNCAN

Whether you’re spending this summer preparing to begin your college journey, or embarking into the real world to start the next phase of your life, Collegiate DECA is here to make sure you’re ready to #OwnYourFuture.

TRENDING

#OwnYourFuture

@anna_hoyman

@arrowhead_deca

@harrisondeca

@itsfayesdeca

@mauihighdeca

@maverick_deca

@mctideca

@mostatedeca

@unlvdeca

GET MORE DECA DIRECT ONLINE

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CAREER ADVICE I WISH I KNEW IN COLLEGE

TAKING ON THE CHALLENGE OF MANAGING

DECA: THE SUPER POWER OF THE CORPORATE WORLD

THE UNSEEN WAYS DECA HELPS YOU OWN YOUR FUTURE

bit.ly/careeradvicefidm

bit.ly/managechallenge

bit.ly/decasuperpower

bit.ly/decaunseen

5 TIPS TO GET YOUR CHAPTER PREPARED TO COMPETE AT #DECAICDC bit.ly/competeicdc5

Ways to keep your chapter connected during #SUMMEROFDECA

The fact that summer is around the corner may be very exciting, however, keeping your chapter connected during summer break may bring new challenges. Even though summer involves the beach and pool, or in my case Netflix, it is important to stay connected with your chapter in order to make sure you start the 2017-2018 DECA year off right.

HERE ARE FOUR WAYS YOUR CHAPTER CAN STAY CONNECTED THIS #SUMMEROFDECA

CHAPTER SOCIAL EVENTS What is summer without a little bit of fun? Summer months are the perfect time to take a breather and actually take the time to get to know your chapter. Engaging in social activities such as going to the beach, movies or dinner will give you the opportunity to get to know all the members in your chapter and will keep members engaged over the summer months. During these social activities, make sure to take lots of photos and post them on your social media accounts using #SummerofDECA.

SOCIAL MEDIA One of the easiest ways your chapter can stay connected this summer is by sharing your summer experiences on social media and using #SummerofDECA. Encourage your chapter members to document their summer experiences on social media by organizing a social media challenge or offering prizes to members who post the most over the summer. Make sure you continue posting on your chapter’s social media sites over the summer too! Sharing relevant DECA posts each week will keep current and potential members excited. Try using hashtags such as #MotivationMonday, #TipTuesday or #TrainingTipThursday to generate consistent content. In addition, you can also create social media group chats or pages in which members can continue to receive updates and ask questions during the summer. Having a Facebook page dedicated to your chapter will allow members to stay updated and also allow them to connect with each other over the summer.

GET INVOLVED! One of best ways to get ideas for your role-plays and reports is to get experience. During the summer, try to find some businesses where you and your chapter can volunteer or job shadow for a day. This will give members in your chapter a way to stay connected while also getting awesome experience they can use for competition this fall. Experience will help you reinforce your fluency in the business world, and also helps when it comes to exams as you may pick up some important terminology on the job.

I hope that all chapters stay connected these next two months and enjoy this year’s #SummerofDECA! Staying connected with your chapter over the summer is just one the ways you can #OwnYourFuture next fall.

MARCH-APRIL | 2017

CONTINUE TO TRAIN During the summertime, it’s easy to forget some of the basics of DECA competition. Whether you are new to DECA or in your fourth year, make sure you review the basic principles around your career cluster area this summer. As a chapter, it would be beneficial to your members to continue to train over the summer too! Start making flashcards with definitions, taking past exams, practicing role-plays, and generating ideas for business reports for the written categories. You could even organize a mock competition to keep your chapter’s skills sharp for when the start of the school year rolls around.

EMILY FRASER North Atlantic Region Vice President

JOIN! DECA’S OFFICIAL

LINKEDIN GROUP For your chance to WIN one of two GoPros® or a SmartWatch.

Simply join DECA’s LinkedIn Group and comment how you have Owned Your Future this year. Winners will be announced during both the Collegiate and High School International Career Development Conferences. An additional winner will be announced on May 1, 2017. Members do not have to be present at an ICDC to be eligible to win. Prizes may vary slightly from items pictured. Apple iWatch is a trademark of Apple Inc. GoPro and their respective logos are trademarks or registered trademarks of GoPro, Inc.

Sponsored by

GROUP BENEFITS

DECA Engagement Events • Your Grassroots Network Job Opportunities from DECA’s National Advisory Board Special Offers from DECA’s National Advisory Board Professional Development Opportunities • Industry News 10

CONNECT TODAY linkd.in/decainc

HOW TO INCLUDE

DECA EXPERIENCE ON YOUR RÉSUMÉ

For many Collegiate DECA members, getting a great internship or job this summer is the biggest thing on our minds. How you translate your Collegiate DECA experience onto your résumé can make all the difference in whether or not you get that internship or job.

A big part of DECA membership is community service campaigns. Remember to include these efforts on your résumé, as they show your connection to the community and that you are someone who values giving back. Most employers today want people who lead well-balanced lives and reflect the ability to handle multiple commitments at the same time. If you have held a leadership position in DECA, make sure that is highlighted. Whether you are the chapter president or a committee chairperson, this shows potential employers that you are able to take on leadership roles successfully, which will often set you apart from other applicants.

The Collegiate DECA Leadership Passport Program is a great addition to any résumé as well. The requirements for the award show a comprehensive set of skills and work that you have developed. When listing it on your résumé, highlight some of the things you did to achieve this award. As we learned from Alan Katzman of Social Assurity at #DECACLA last November, it’s critical today to use LinkedIn for any employment search. This means you must take the necessary time to perfect your LinkedIn profile. If you haven’t yet, link up with the DECA Inc. LinkedIn page at linkd.in/decainc. Use this resource to both network and get help from other members!

@decainc @collegiatedeca

@decainc

With these tips in mind, your résumé will be in tip-top shape in no time, and the job or internship of your dreams will certainly be within your reach!

linkd.in/decainc

MARCH-APRIL | 2017

Creating a tailored résumé is critical to your search for internships and jobs. Far too often I’ve seen résumés that simply say, “Member of DECA.” If you are seeking a marketing position, tailor your résumé to reflect how your DECA experience has given you skills in the marketing arena like, “Developed a marketing campaign to increase membership in my DECA chapter that resulted in a 25% increase.”

MIKE RICH

Collegiate DECA Vice President

NEW CAREERS EMERGING IN THE FINANCE FIELD by JEAN HOLT, Associate Professor, Finance, Johnson & Wales University

WHO WANTS TO RETIRE A MILLIONAIRE? THE ANSWER IS: EVERYONE!

In October 2016 the Journal of Accountancy reported Americans’ number one fear was running out of money during retirement. Americans frequently have to balance saving for retirement with additional expenses such as the cost of taking care of aging parents and paying for children’s college education. This combination of desires to save for retirement and pay for other demands along the way, such as college education, has created a growing demand for Certified Financial Planners (CFP). The role of a Certified Financial Planner is to be a smart friend who can help individuals with all areas of their finances, including savings, taxes, retirement, inheritance and college funds. The objective of a Certified Financial Planner is to develop a customized financial plan that helps their clients achieve all their financial goals. Here’s how it works. Let’s go back to that Millennial earning $27,900 and feeling like he/she has no hope of ever saving $1 million for retirement. Following a simple recommendation at age 22

from a financial planner would allow this individual to not only achieve a retirement savings goal of $1 million, but actually exceed it! If you look at

the chart above, you will see that the financial planner has recommended the client take advantage of the employer’s 401K savings plan by contributing 4 percent of each paycheck over the next 44 years of his or her working life. For that person earning $27,900, this means the client would save $1,116 per year or a trifling $3.05 per day. By saving in the 401K, they would be investing that $3.05 per day in a stock mutual fund and earning market rates. Over time, the stock market returns on average 12 percent, which is why the financial planner has set the client’s annual rate of return at 12 percent as shown above. By saving just a little each pay period over his or her working years, this client will have saved $1,710,020 by the time he or she is ready to retire! If the company matches the contribution to the 401K (and most companies do match) then this means a total of 8 percent is being added to the client’s 401K per pay period and the balance at retirement is now an astounding $2,565,028! Not bad for a $27,900 annual income.

To become a Certified Financial Planner, you need a B.S. in any related area of study from an accredited school; Finance and accounting are the most common majors. Next you need to pass: (1) the comprehensive CFP® Certification Examination, and (2) CFP Board's Fitness Standards for Candidates and Professionals Eligible for Reinstatement. You must also agree to abide by CFP Board's Code of Ethics and Professional Responsibility and Rules of Conduct which put clients' interests first, and comply with the Financial Planning Practice Standards which spell out what clients should be able to reasonably expect from the financial planning engagement. These are just some of the reasons why CFP® certification is becoming increasingly recognized. For more information, visit the CFP Board’s home page at www.cfp.net/becomea-cfp-professional/cfp-certificationrequirements. Becoming a Certified Financial Planner means you are committing yourself to helping your clients achieve their ever changing financial needs over a lifetime. You are a professional financial coach and problem solver. According to CNN/Money and the Bureau of Labor Statistics, the demand for Certified Financial Planners is expected to grow at a rate 32.1 percent over the next 10 years with a reported median salary of $89,500 and top salary of $171,000.

MARCH-APRIL | 2017

ccording to an August 2016 US News & Report article, 64 percent of millennials ages 22 to 35 who are employed U.S. residents, don’t expect to be able to save $1 million for retirement over their lifetime. Although 59 percent of millennials surveyed said they have started saving for retirement, 41 percent of those surveyed said they don’t earn enough to save for retirement. For those millennials who felt they will never save $1 million, the personal median income was $27,900.

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students need to keep on top of

their finances if they are going to graduate without too much debt.

While most first-year students feel ready to

take on the academic and social aspects of college life, financial responsibility is often

Though it may seem a tall order to jump

straight into bank accounts and budgeting if you havenâ&#x20AC;&#x2122;t had to manage much more

than your allowance before, it only takes a

little common sense to stay on top of your

MARCH-APRIL | 2017

the one thing they feel unprepared for.

money throughout your time in college.

et into the right mindset when you start thinking about the five key tips below: A college education is one of the biggest investments you’ll probably ever make, so it is important that you find the right school for you, and that includes finding one that fits your financial criteria. Some students set their heart on one particular school, but it’s important to also make sure you select a school that you can afford for the entire time you’ll need to attend. Don’t remove schools from your list based on the sticker price alone - many schools offer generous financial aid and scholarships - but you won’t know what you qualify for if you don’t apply. The choice you make can make a big difference to your pocket long-term, so make sure your current and future finances are on your radar when you’re deciding which college to attend.

So many students neglect this step when they get to campus, so don’t fall into the trap of thinking your budget will sort itself out - it won’t! When everyone around you is spending without a second thought, it can be tempting to do the same. While you are new on campus, it pays to keep an eye on your finances with a weekly or monthly budget. This will help you keep track of your income and outgoing costs and help you balance your books from week to week. There are lots of apps that can help you organize your budget easily, so try one of those to get started. Or you can even go low-tech and simply keep and check your receipts! Just remember that it is important to be realistic and to leave a little leeway for any unexpected bills or overspending that may occur. This will help you avoid scrounging for the last week of the month. What! Where? If there is free money coming your way, you want to make sure you get it, right? So many first year students miss out on money that they should be snapping up just because they don’t think ahead and fail to get organized in time for the relevant deadlines. Make sure you’re not one of them! Accessing free money is all about being deadline savvy. The big deadlines for financial aid and any scholarships or grants should always be in your calendar, and a bit of advance preparation will help you to make sure that you have everything you need to submit on time.

However, free money is also accessible all around you. There are lots of additional little things you can do to make your dollar stretch further. Look for everyday ways to save, like sharing your weekly shopping trip with a roommate, buying second-hand textbooks and always asking if there is a student discount available. Most bigger stores and many of the local businesses around your campus will have a student discount, so don’t pay full price if you don’t have to.

Yes, they sound scary, and you’ve probably heard one or two horror stories, but unless you are very frugal, you are likely to come out of college with at least a little credit card debt. That’s no reason to panic though. If managed correctly, credit cards can be a great tool to get you through. Credit cards are an easy way to help you meet financial commitments in an emergency, and as long as you make your payments on time and pay off more than just the interest, you are unlikely to experience any problems.

It sounds unrealistic to think about saving at a time when you might not have much extra cash, but we aren’t talking about retirement here. Keep an emergency fund; even if it is just $10 dollars a month you put in a separate bank account, you are almost guaranteed to need it at some point. Being a student means you’ll get asked for deposits or one-off payments more often than you’d expect, and a small back up of savings helps you get over those moments where a deposit may be needed and you don’t have the money on hand. The best part is, if you don’t use it, you can always spend it on a trip with friends when summer rolls around!

MARCH-APRIL | 2017

Before you commit, however, you should do some research and find a good interest rate. Look out for hidden costs on late fees, or deadlines on rate deals, and you’ll have a useful tool rather than a difficult debt.

You can find out more about Hult International Business School, our Bachelor of Business Administration degree, campuses in London and San Francisco, faculty, and more when you follow us on Twitter @HultBBA. 17

4518697

3.07

Association of International Certified Professional Accountants

If it wasn’t for CPAs, businesses wouldn’t know when to invest more capital. Or when to grow. Or downsize. They might even be out of compliance with current laws. Make a point to bring those things up in your annual review, and they’d be hard pressed not to give you a hefty raise.

There are also tons of cool jobs for CPAs you may not even know about such as financial forensics. Not all crimes involve a chalk outline. Join the FBI or other law enforcement agencies and you could help investigate and stop white-collar financial crimes. Are you a pop culture junkie, movie addict or die-hard music fan? Turn your love of entertainment into a career as a CPA for big name stars, movie studios, musicians and authors. Botox is one way to have longevity in Hollywood; having an accountant who keeps you in the black is another. Or maybe you’ll find that teaching accounting is more up your alley. An accounting professor is a satisfying career, and with demand for CPAs increasing, it’s also become a marketable one.

MARCH-APRIL | 2017

uring the last twenty-odd years, CPAs have become some of the most important decision makers in business. Because they understand their companies inside and out, they often hold the answers. Their superhuman ability to create, analyze and interpret financial info makes them the first to know where the company stands and where it’s headed.

WHAT MAKES A

GREAT CPA? •

Superb verbal, written and people skills

•

High standards of integrity

•

Gets the big picture and the small details

•

Solves problems creatively

•

Results and team-oriented

•

Multitasks and prioritizes well to meet deadlines

•

Good with numbers and managing money

•

Assesses the risks of investing, financing and operating a business

•

Unquenchable curiosity, stays current on relevant business issues

•

Able to use technology with ease

ACCOUNTING HAS A GLAMOROUS SIDE Personal Financial Advisor to the Stars You’ll still work in the traditional areas of accounting, but you’ll get to do it for famous people. Ever wonder how Brad Pitt spends all that money? As his personal financial advisor, you’d be involved with everything from investments to estate planning to all the random expenditures (Swiss chateau?). For all your hard work, you just might be invited to a movie set or premiere to watch him in action. Be warned, it can take a few years before you reach the level where you’re trusted by the entertainment elite. But once you do, you could make as much as 5% of your client’s annual salary. KNOW THIS: The hours in entertainment accounting can be long, but there are sweet perks that come with the territory, like getting invited to awards ceremonies and fancy after-parties. Of course, this makes competition for these jobs pretty stiff. You’ll need good grades through college, a CPA license and a couple years of work experience to catch your big break.

HAVE YOURSELF A HALL-OFFAME-WORTHY CAREER Accountant for a Team or Sports Company Every sports team and sports-related company has a finance department of its own, requiring accountants, analysts, controllers and directors. Working for a sports team, you could have a number of responsibilities like figuring out how to pay for that expensive free agent, projecting monthly budgets or controlling the payroll. Working for a high-profile sports organization is hard work but comes with perks you might expect, like free seats at games and the chance to meet your sports heroes. The competition for jobs with professional sports organizations is fierce; there are only so many jobs with a limited number of teams. Don’t forget about the hundreds of other sports-related companies out there when you start to look for a job. You can find a similar variety of work at a sports broadcasting company like ESPN, a manufacturer like K2 Ski or an apparel company like Nike. KNOW THIS: CPAs in all businesses—especially sports—recommend taking an internship in or after college (even if it’s unpaid) to get your foot in the door. Aside from doing well in your accounting courses, passing the CPA exam and getting your license, be willing to take on unglamorous tasks to prove you’re serious about getting hired full-time.

Staff Accountant for Your Favorite Brand Every brand and retailer, big or small, needs a strong team of people to make sure there’s enough money being made. Sounds easy, but every decision, from sale prices to storefront décor, has a financial consequence. The decisions never stop. Working for an iconic company has its perks though, like discounts and freebies. To get in with a brand or retailer, you may want to start your career with a public accounting firm to expose you to some of the companies you might want to work for down the line. KNOW THIS: While an MBA (Master’s in Business Administration) degree is not necessary to become a successful CPA, it is highly valued in the higher ranks. An MBA combined with a CPA license will expose you to all angles of the business world.

THE JET LAG IS SO WORTH IT Auditor

When you are working toward your CPA license, becoming an auditor for a public accounting firm is a great way to get major experience and frequent flyer miles. You’ll get to work at a variety of different client locations for months at a time, heading home on the weekends or using that time to explore new places. You could do stints in four to five cities all in the same year, racking up hotel reward points as you go. KNOW THIS: To better prepare yourself for that big international job, study a foreign language. Bilingual + CPA license = companies knocking at your door.

MARCH-APRIL | 2017

CPA YOUR WAY INTO THE LATEST TRENDS

Ready to learn more about starting a career in accounting or becoming a CPA? Check out Start Here, Go Places at www.startheregoplaces.com. 21

college degree today is equivalent to a high school diploma 50 years ago. That is to say itâ&#x20AC;&#x2122;s an expected, if not necessary, level of education needed in order to secure a job in a number of professional fields.

The one major difference between high school and college is, of course, price. But given the importance placed on higher education, many families will do whatever it takes financially to ensure their child can earn that degree.

For most, that means taking out student loans. Before you go down that road, you should both be aware of the implications going forward. These are four things you must know before taking out a student loan:

3. ONLY BORROW WHAT YOU NEED. It’s generally thought that the biggest loan you can get is the best. This is not true. A loan should strictly serve to cover the cost of college — this includes spending costs in addition to the basic costs of education, room and board. When taking out a loan, look at what the averages are and then apply yourself and your situation against those. This is one of several tips you should consider during the process.

4. KNOW WHAT TYPES OF LOANS ARE OUT THERE.

Your parents might not think loans are necessary since they weren’t when they were looking into college. According to a 2015 Wall Street Journal article, they’re right — less than half of students graduated with student loans two decades ago and about 64 percent did 10 years ago. These days, however, roughly three out of four students will need to borrow money to graduate.

2. THE AVERAGE 2015 COLLEGE GRADUATE WITH STUDENT LOAN DEBT WILL HAVE TO PAY BACK A LITTLE MORE THAN $35,000. If you are one of those three students who will take out a loan, you can expect to be saddled with $35,000 upon graduating. That amount is more than double what borrowers had to pay back two decades ago, even after adjusting for inflation. So not only are more students taking out loans, they’re also paying more in loans.

It’s wise to have a basic idea of what you’d like to study and what you hope to achieve while in college. You can figure it out while already there, but that’s a costly deliberation period. Getting some real world experience first either through a job, volunteering, or even traveling can help hone your interests and formulate a plan for a worthwhile college experience. Remember to speak to someone in your desired college’s financial aid office. They’re there as resources to help you!

Discover more financial tips and tricks for teens at blogs. hrblock.com/category/from-the-block/dollars-sense/.

MARCH-APRIL | 2017

1. ALMOST 71 PERCENT OF BACHELOR’S DEGREE RECIPIENTS WILL GRADUATE WITH A STUDENT LOAN.

When applying for financial aid, loans are normally included in the school’s offer. Some student loans are made through the federal government, while others come from private sources like banks for financial institutions. Generally speaking, federal loans offer borrowers more ways to pay the money back along with a lower interest rate.

CHAPTER BUZZ

▲ BENSALEM DECA PENNSYLVANIA

Bensalem DECA members took DECA to the next level this year!

▲ DC EVEREST DECA | WISCONSIN

This is the first year that DC Everest DECA had a Junior DECA chapter! These 8th grade members opened a mobile store, The DECA Depot To Go, a week before the holidays at their Junior High School. Their profit for the week was just over $700 and they learned the basics of the marketing mix: product, place, price and promotion.

▲ LAKE TRAVIS DECA TEXAS

Lake Travis DECA members dominated at their recent district competition!

▲ PABLO COLON BERDECIA DECA | PUERTO RICO

DECA members celebrated after they were officially initiated at Pablo Colon Berdecia, located in Barranquitas, Puerto Rico.

MAKING MEMORIES with

▲ WILLIAMSVILLE NORTH DECA | NEW YORK

Williamsville North DECA owned the rest of their incredible DECA year.

▼ NORTHWOOD UNIVERSITY COLLEGIATE DECA MICHIGAN

Northwood University Collegiate DECA developed a mock high school district competition for the HH Dow DECA chapter. Collegiate DECA members shared their tips from the pros and served as judges for the high school members!

▲ MAPLE SHADE DECA | NEW JERSEY Maple Shade DECA completed their association community service project with the third annual “Pie in The Eye” event. This year's proceeds went to eye glasses for the needy.

◀ LYMAN DECA | FLORIDA

SHOP THESE ITEMS AND SO MUCH MORE ONLINE.

MARCH-APRIL | 2017

Lyman DECA spent a day with AT&T ambassadors learning about cyber safety and all things “Digital You,” thanks to the AT&T Aspire Mentoring Academy and the #DECAATTProject initiative.

W W W. S H O P D E C A . O R G

CHAPTER BUZZ ▼ PICKERINGTON NORTH DECA | OHIO

Pickerington North DECA adopted a family through Nelly's Catwalk earlier this year. The chapter created awareness by passing out candy grams labeled, "Angels for Anjeclia,” and they collected donations throughout the school.

▲ CORINTH HOLDERS DECA | NORTH CAROLINA

Corinth Holders DECA members enjoyed their time at the 2017 Sports & Entertainment Marketing Conference in Orlando, Fla., in January.

◀ HARKER DECA CALIFORNIA

The Harker School DECA chapter competed at the Silicon Valley Career Development Conference in January. Harker DECA succeeded competitively with a record-breaking number of wins, and all members who attended enjoyed the first competitive conference of the year.

▼ NANUET DECA | NEW YORK Nanuet DECA received a donation after a successful in-store fundraising event with its newest community partner, Raymour & Flanigan.

▲ UNIVERSITY OF NEVADA – LAS VEGAS COLLEGIATE DECA NEVADA 26

UNLV Collegiate DECA officers and coordinators represented the meaning of #OwnYourFuture by attending the Lee Business School retreat.

▲ GARLAND LAKEVIEW CENTENNIAL DECA | TEXAS

Garland Lakeview Centennial DECA members made a bunch of new friends after handing out Build-a-Bears to their local head start program. The chapter helped over 20 kids!

▲ STEWARTS CREEK DECA TENNESSEE Stewarts Creek DECA members kicked off the competition season at the Tennessee DECA District 4 Career Development Conference!

▼ EAST SYRACUSE MINOA DECA | NEW YORK

Members of the East Syracuse Minoa DECA chapter raised money and awareness for The Kara Fund.

▲ HARRISON DECA | OHIO

MARCH-APRIL | 2017

The Harrison DECA officer team posed in Central Park during their awesome trip to NYC for the DECA New York Experience.

▶ MIRAMAR DECA FLORIDA

Miramar DECA chapter members recently visited American Airlines Arena, home of the Miami Heat NBA team.

▲ LOCKPORT DECA NEW YORK

Lockport DECA members celebrated after qualifying for the New York DECA Association Career Conference.

CHAPTER BUZZ

▲ BROOKFIELD CENTRAL DECA | WISCONSIN

Brookfield Central DECA members met with Abby Taubner from Gener8tor, a local startup accelerator, to learn more about the entrepreneurial process and the lean business model canvas.

▲ NILES WEST DECA ILLINOIS

Divitiya, Irena and Anna "swept" all the medals in the Principles of Business Management and Administration event this year at Illinois DECA North Suburban Area Competition.

▲ WEST CHESTER EAST DECA | PENNSYLVANIA

It was a clean sweep for West Chester East DECA in the Personal Financial Literacy event at the district competition for District 9 in Pennsylvania!

WANT TO SEE YOUR PHOTO IN THE NEXT ISSUE OF DECA DIRECT? Submit your Chapter Buzz photo online at http://bit.ly/chapterbuzz for a chance to be featured in the September/October 2017 issue of DECA Direct. If you have any questions or issues with your submission, please contact communications@deca.org. 28

▲ UNIVERSITY OF WHITEWATER-WISCONSIN COLLEGIATE DECA WISCONSIN

University of Whitewater-Wisconsin Collegiate DECA members had a great time meeting new faces and explaining what Collegiate DECA is on campus at their spring involvement fair!

▼ APPLETON EAST DECA WISCONSIN

Appleton East DECA members celebrated with their CTE Month proclamation approved and signed by their mayor, Tim Hanna.

▲ PITTSBURG DECA | TEXAS

Pittsburg DECA members participated in a mock DECA event to prepare before their association conference.

◀ EAST AURORA DECA ILLINOIS

East Aurora DECA members spent time during Advocacy Month to write to their congressional representatives asking for their support of Career & Technical Education and Career & Technical Student Organizations.

▲ SOUTH BROWARD DECA | NEVADA

South Broward DECA chapter members celebrated together at their annual winter picnic, which helps promote team bonding throughout their #DECAfamily.