U.S. Economy Puts Stress on College Life

By: Alaina Gizzo
Posted In: Opinion

It’s a pretty harsh world out there. Even harsher now that big chains of stores are closing, multi-million dollar companies are requiring bailouts and job opportunities are shrinking everyday. Living in this type of economy is not something that our generation is entirely ready for.

According to the U.S. Department of Labor, our national unemployment rate as of February 2009 was at 8.1 percent. This means that almost one in 10 people across the nation are jobless and struggling to find a means of support. It’s truly scary to realize the small likelihood that members of my graduating class will have a job right out of college, maybe not even a few months after graduation.

At this point, it is difficult to try to decipher where money earned should go. I have never grown up with very much money, and it seems that our family is feeling the money squeeze more than those around us. I don’t mean that others aren’t struggling more than we are; certainly many Americans face unimaginable economic difficulties daily. What I do mean, however, is that it is very challenging to constantly have a hold on my registration as my family tries to accumulate the funds for tuition. It is even worse to be in the Pell Honors program, with its basis in international politics, and realize that I never could afford to go abroad with the cost of living and the air fare. I am making it at a private university by the skin of my teeth.

However, I am fortunate enough to never have gone without things I truly need; even the tuition eventually gets paid off. In this economic situation, it is difficult to figure out where funds should go. It is not practical to think that you will attend college and never spend money on social outings. But lately, I’ve noticed, I’ve gone out for coffee with friends less and less. Where people would formerly opt for Dunkin’ Donuts over Starbucks, they’re realizing that it’s time to put the coffee maker to good use. I’ve noticed an increasing number of students in class bringing coffee in travel mugs. This could be a green effort, or it could be something financial.

My biggest personal temptation of all has been clothes. I never did buy piles upon piles of clothing, but instead used to splurge at random sales at the mall. Lately, my friends and I have been making significantly less trips to the mall, all with the same excuse, “I’d love to, but I really don’t have the money.” Even TJ Maxx is becoming a huge temptation, despite its unrealistic discounts.

Student spending seems to be, in part, muffled by one issue-cutbacks in work-study funding. I know of at least two students who have had extreme difficulty obtaining a summer work-study here at school, never mind attempting a summer job at home. Even certain school year work study jobs have asked students to cut back on their meager 10 hour a week limit.

Things are pretty scary in the world today. The idea of trying to figure out where to spend money these days is something America on the whole must eventually get used to. We all must find a way to put the funds we have to practical use.