How is the Economy Affecting You?

With the economy being in a downward spiral recently, it is no wonder that college students are no exception to the affects that it is having on everyone. College is already expensive, and most students help to pay for their own tuition and work while their in school. Now, prices are rising, companies are having layoffs, and employers are even cutting back hours to try and save themselves from this gloomy era we have now entered.
Now, with these hard times, many students are finding that they are being forced to cut back on the things they love and are used to in order to survive and still be able to afford college.
Amy-Renee Stevens was under the impression that her schooling would be paid for by her parents with the help of the stock market. Unfortunately, she and her family were not able to forecast the downturn of the market. “If the stocks had continued in the up rise as they were in the 90's I would have 156,000 dollars in my college fund... Instead I have 36,000. I have had to apply for loans, but since FAFSA goes off the year before's taxes there was no help there. In order to still afford tuition I have moved back in with my parents, am trying to find someone to fill my apt, got a job, and don't enjoy any of the luxuries I once did,” says Amy.
As a result, Amy has now been picking up more hours than she ever has in order to save money for her own schooling.
Like Amy, other students from the University of Cincinnati are also finding themselves cutting back, even if that means cutting back at school. Amanda Woodruff says, “Driving/parking is overrated and unnecessary not too mention overly priced. By not parking my car at UC for class I save about $800 a year which is two months rent or four and half months worth of groceries.”
When gas prices rose, it really made people feel pain at the pump and thus, many people took the same approach that Amanda did and cut back on their driving and transportation means.
Although cutting back on your fuel intake is one way to save money, many other college students are cutting back in every little way they can. Jeff Geiser said, “I try not to spend money on things I can live without. Lately I've been packing my lunch and try to only eat what I bought at the grocery store. If I want to go out drinking on the weekends, I usually will pregame a lot this way I don't spend as much money at the bar.”
So, when it comes to the problems that people are facing with the economy and their money situations (or lack there of), know that you are not alone. Guesses are that it has affected you or someone you know. All I can say is that hopefully things get better soon, for all of us.