“Uncertain.” “Scary.” “Tough.” “Stressful.” These are the some of the words college students are using when asked if they are experiencing financial struggles and whether money is an issue that weighs heavily on their minds.
In these tough economic times, college students not only face a dismal job market after graduation but often a pointed struggle to even stay financially solvent long enough to get their degree. How do private universities justify their expensive education, and what steps are they taking to help their students stay enrolled? And just how are college kids managing to survive?
For many, rising tuition costs undoubtedly prohibited them from being able to enroll. This year, Biola had a smaller incoming class than the year prior, breaking a long trend of growth. Though it awards nearly $20 million of financial aid per year already, Biola is working to make more aid available.
http://chimes.biola.edu/content/article/2009/sep/02/enrollment-takes-rare-hit/
Use this handy tool from CollegeBoard.com to see how Biola’s costs stack up against other schools.
http://collegesearch.collegeboard.com/search/compare_schools.jsp?
At Point Loma Nazarene University, financial aid advisor Martha Yrigoyen says she has seen a definite increase in needs-based scholarships awarded in the year she has worked there. But she noted that financial aid has remained steady and that the spring 2010 semester is looking to be their largest incoming class in some time.
Although College Board reports that tuition rates at private schools have inflated an average of 4.4 percent this year, amounts set aside for financial aid are also being increased accordingly.
http://www.collegeboard.com/student/pay/add-it-up/4494.html
“The last thing colleges and universities are going to cut this year is financial aid,” said Kathy Kurz, a college enrollment consultant quoted in a New York Times article in February of this year.
http://www.nytimes.com/2009/02/28/education/28college.html?_r=1&scp=1&sq=kathy%20kurz&st=cse
But even so, families still struggle and sacrifice to keep their kids in school, as reported in this article from Associated Baptist Press.
http://www.abpnews.com/index.php?option=com_content&task=view&id=4358&itemid=53
“My parents tell me not to worry about it, but I feel guilty about it a lot,” Biola sophomore Jessica Mackey said in an interview. Fellow sophomore Katie Slyter said her parents just want her to focus in school but “I know they make a lot of sacrifices for me to be here.”
Many students echo similar sentiments. But through it all, they are learning to trust God and they know they are not alone on the journey.
Jeff Whesler said his dorm keeps a jar out on the counter for people to contribute extra change to help students in need. Diana Jiminez said the school club she is involved with helps support students who can’t afford tuition.
“It helps to be community based,” said Anthony Leake, junior biblical studies major. “I was in a situation where I wasn’t sure if I could come this semester. But my friends really helped. When I gave up, they didn’t.”
Anthony’s friends went all the way to the school’s president to get him additional financial aid.
Senior history major Karen Myers knows God will provide.
“Every semester it’s gotten down to the last hour before payment is due,” she said. Some scholarship or loan came through that I wasn’t expecting. I think if God wants me here he’ll make it happen.”
Reporting contributed by students from the JOURN 106 class
