Recession Hits Students Hard

Posted on February 8, 2010
Filed Under money | By Ashley Singh

I don’t understand finance. I’ve never been good at math, the stock market confuses me and I still cannot understand what i, x, and n have to do with algebra. My good friend Maria is a math and education major and in my opinion she is doubly blessed for even wanting to deal with kids and because she enjoys math. Most economists are saying that the recession is pretty much over. Financial guru Suze Orman said that the economy is off of life support but is still in ICU. Now, if that’s true, why is America’s higher education system stretching our students thin?

I recently read an article about how even though the economy is said to be looking up, tuition costs keep rising on college campuses across the country. Students in Florida can expect to have their tuition raised yearly by 15 percent; students at the University of Illinois students should expect a nine percent increase. At its main campus, the University of Washington will raise its tuition by 14 percent more. Protests over the more than 30 percent increase in tuition in California have heated enough to bring back memories of the infamous 1960s sit-ins. I can recall two instances of heartfelt regret yet hidden sarcasm over tuition increases from my college.

One of the more valuable things I’ve learned from this whole economic downturn is how to manage my money and the reality that I am going to be paying back my college loans for most of my life. Now, I’m not complaining about the whole thing and I’m very grateful for my education—remember, there was once a time when higher education (or education at all) was for the privileged upper class and the white man. I’m just confused because it seems to me that education is the last thing on the minds of those who are in power. The University of Illinois has a budget deficit that is “expected to top $11 billion this year,” according to interim President Stanley Ikenberry. “The state of Illinois owes the university more than $430 million.” What is that?

I know I’m an idealist, and call me crazy, but families should not be scrimping in order to send their kids to college. I really hope the president’s loan-repayment plan gets passed soon. But until then, I guess the whole “poor college student” nickname will continue to hold true evermore.

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Comments

2 Responses to “Recession Hits Students Hard”

  1. Alena on February 9th, 2010 12:50 am

    I recently came across your blog and have been reading along. I thought I would leave my first comment. I don\’t know what to say except that I have enjoyed reading. Nice blog. I will keep visiting this blog very often.

    Alena

    http://grantsforeducation.info

  2. Ashley Singh on February 11th, 2010 5:31 pm

    Thank you so much for the compliments! It’s great to know that I have readers. Is there any topic you would like me to write about?

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