College Students and Their Economy

Many college students are concerned with what is turning into an increasingly grim outside world.
Debt is no longer the only downfall students face after graduation.We find in front of us the dreadful combination of tuition, housing, and textbooks.
It is reported that 66 percent of college seniors have to find work off campus to prevent their bank accounts from running dry, according to the National Survey of Student Engagement. Many students find themselves running back and forth between class and work.
"Everyone thinks that you just graduate, and go out and get a job. It's not that easy. I know a lot of people who are struggling to find work, and I know a lot of people who are settling for anything they find,” said Paige Kimbro, a student who worked two jobs to pay for schooling.
Strewn across newspapers and websites are the names of well-known corporations that find themselves on the verge of bankruptcy. To avoid going out of business, many companies have been cutting hours and freezing salary increases.
The unemployment rate has sailed to 7.6 percent, a record 16-year high. Additional job cuts are expected after the stimulus package is passed.
We don’t have the slightest clue what it must be like for someone struggling to work two jobs, barely making enough money to pay a mortgage and support his/her family.
Morgan Smith, a sophomore at High Point University, is worried to return home to Vermont for Spring Break. “Things just can’t be good with both my parents out of work,” said Smith.
With tuition on the rise, many families have already made immense cutbacks at home. Since private lenders are tightening eligibility requirements, it has become harder for students to find a lender. Sallie Mae, one of the biggest student lenders, reported a massive $1.6 billion loss in its fourth quarter.
Because of this, more and more students are choosing the cheaper way to live; remaining on-campus even though off-campus sounds much more appealing.
We are no longer filling shopping centers and movie theaters like we used to, throwing around all that extra cash lying around. Some students are keeping a closer eye on their account balance, shopping for only the necessities. Closing our wallets is no hard task.
Although a struggling U.S. economy has dramatically changed the lives of those around us, some students remain clueless. They are more concerned about their plans for the weekend than their plans for the future. They are ready to take their degree and run as far away from Mom and Dad as they can get. For many, it is the freedom they long for. But, freedom has a price.
An article written by Christine Cunningham, published in the Tennessee Journalist in December says, “Some students have never owned a credit card, a house or a car, but the constant downturn of the economy is affecting everyone, even those with the best credit, the best financial history and essentially, the best jobs.”
Before you know it, it will be that time, time to say goodbye. You will find yourself seated among fellow classmates, taking in your last few moments as a college student. Those same people you cannot wait to get away from will be surrounding you with their contagious smiles and endless rolls of film.
Then it happens—BAM! Welcome to the real world.
First thing is first. Get a job.
Preparation is key. Unless you want to continue living in the same house you have for the past twenty years, now may be a good time to get the ball rolling.
According to the National Association of Colleges and Employers (NACE), students who have participated in an internship or something similar have an advantage over those who lack such experiences. Interning could be the determining factor whether you get the job or not.
With no source of income if sure won’t be easy to maintain a house, a car, and a cell phone bill (not to mention money for groceries, gas, bills and taxes). Oh and that chunk of money that disappears from your bank account to pay off college debt seems like it will never end.
We have never seen anything like this. Who knew it would affect so much? What can we do to help ourselves?
As the future of this country, it is our duty to improve the current state of the economy, however possible. It is time to face the fire because the transition from “college life” to “real life” is closer than you think.