The Economy: How it affects students

DOWNEY -- America's current economic crisis has had an impact on just about every segment of society. Whether it be banks that can no longer function or the average American family struggling to make ends meet, the economic crisis is greatly affecting everyone in America. But not only are businesses and families struggling, school clubs and the California education system are feeling the economic pinch too.While this current economical climate does not affect students as much as adults, consequences are still felt. The underclassmen do not have to worry as much, as they have two to three years to wait for the economy to hopefully turn around. But for current seniors heading to college, the economic crisis might be of a greater concern. In simpler terms, because of the recession, jobs are being cut and wages are being lowered. As a result, many students will turn to public universities and community colleges versus out-of-state or private universities in order to cut costs. The increase in demand for higher education can affect admission rates because many students are trying to gain admission to schools, now more than ever. The economic crisis is affecting tuition rates and the likelihood of getting loans and federal aid as well. Many high school seniors are feeling the pressure of the economic slump. For some students like Warren High senior Kristena Hall, the recession affects her whole family. "My dad works for a Cal State and there have been a lot of cut backs recently. He doesn't know whether or not he will have work. It's a big concern," said Hall. Hall also plans to apply for as much financial aid and scholarships as possible and is considering getting a job as well. Another senior, Parisa Mazandarani, said, "I planned on going to Iran this summer but due to the economy, I will probably have to postpone my trip." Mazandarani also plans to "cut back on excessive spending" and will work part-time as a lifeguard and swim instructor for financial support. The best way for students to find funding for college is to explore scholarships from public and private entities and to work part time. Despite the economy, a college education is the best investment you can make in your future. Student loans still have a very low interest rate, compared with other types of loans. Make sure that you choose a major that will be a stepping stone to a good income when you become employed, so that you will be able to pay off the student loans. Senior Danny Rosa thinks optimistically saying, "This recession is going to teach us a lot of really good lessons. We, as a society, will learn how to discern between faulty investments and to budget our money." Rosa will be attending New York University this fall and says, "my education is a great investment and it is something people will never be able to take from me." When asked how students can lessen the burden of the economy, student counselor Brian Ofner replied that we should "cut back on excessive spending for things like: renting limos for dances, getting credit cards and buying things that are unnecessary." Students should not be brought down by this recession. Those who take advantage of this slump in the economy to get more training and education will end up on top when the economy picks up again. ********** Published: March 20, 2009 - Volume 7 - Issue 48