Does College Pay Off?
[Hammond]- College isn’t paying off for everyone. An increasing number of college graduates are opting to take out student loans to pay for school tuition, as well as other expenses such as living arrangements, food, spending money, books, and other college expenses, since it is becoming harder to find jobs in this tough economy.
During a recession, the job placement rate declines, so many hopeful grads are nervous about repaying their loans, especially with the rate that tuition is going up at Southeastern. Marissa Richard, currently a senior at Southeastern, and one of the many students who has taken out student loans, says, “I feel like schools and banks are giving students debt they cannot afford in exchange for degrees that ultimately we aren’t even gonna be able to use.”
Students are not the only ones feeling the backlash that the economy has created. Many universities are dealing with budget cuts, teacher cuts, and even pay cuts. Southeastern student Philip Schexnayder says, “I got an email a few days before school started saying that tuition was going up ten percent. I mean, that’s a lot for someone who works to pay for college. Plus it makes me mad that I have to pay for ridiculous things like the cheerleading fee. What is that? I don’t even go to the football games.” Another senior, Colin Gravois, says, “I never really looked at my fee bill til this semester. Then I noticed that I’m paying a lab fee and I’m not even taking a lab class. Plus a parking garage fee, and I haven’t parked in there once!”
Not only are students taking out student loans to pay for college, but with the economic depression it is becoming harder and harder to even meet the criteria to even qualify for one. Christie Bell, who is a sophomore at Southeastern says, “This is my second year of college and I’ve been taking out student loans through Chase Bank. Now they aren’t even offering student loans anymore. I had to go through this long process of filling out applications with other places, and now I’m not even getting as much money anymore. It really sucks because I have to pay the rest by myself.”
Whatever the case may be, it seems that the majority of students are struggling with the recent hike of tuition. Many students are confirming what we already know: that many students are struggling to pay for school, or pay back student loans in tough economic times. With the recession, students are being more cautious when borrowing money, and schools are trying to make tighter budget cuts. Hopefully, our economy will bounce back and that piece of paper we get at the end of four years will be the payoff.