People assume students are young people who attend college to become adults, not knowing that most students already carry on adult-like responsibilities. Nowadays, young people live on their own, without their parents’ help, and cannot afford to go to school and pay rent, as well. During my high school years, I expected to be balancing university activities with homework and doorman, not expenses and low- paying jobs. According to a New York Times news conference, a 24-year-old former student, Frankie Barrio says “having a roof over my head and food to eat was more Important”. Mr..
Barrel found It difficult to do well In school and stay employed, so he resigned his education. The leading cause of college attrition is students’ inability to completely support their education, along with poor money management skills. The solution Ills within the student by learning to manage their money and It also Ills In the university by providing workshops for students when they’re falling behind due to financial hardships. Financial hardships are forcing students to leave school to avoid falling Into a deeper pot of debt. Students enter college with results in mind, not expecting on Ewing crushed with overwhelming fees and loans. They have the economic burden of the debt but they do not get the benefit of higher Income and higher levels of employment that one gets with a college degree”, said Jack Reminds, chief operating officer at Sallies Mae (Shim 1). When students realize how much they owe, they become discouraged. As they are very far from earning a degree but the number on the debt to their name are high. Most college students are barely earning minimum wage or Just a tad more than that so they decide to stop digging a deeper hole. To pop It off, most students have a difficulty managing the finances available to them.
Students don’t usually plan out where their money is destined to be spent. According to the website newsroom. Null. Du, students should write down a financial goal as opposed to Just thinking about what they want to do with their money when they get a hold of it. So you’re basically comparing incoming money to your expenses to help create a spending plan. I can attest that I tend to spend money on unnecessary items, knowing that ‘Eve got books to pay for and then I end up not being able to get my books leaving me unprepared for my classes. Students don’t know how to prioritize essential needs versus luxury. Students need to concentrate on what they really want out of life In order to help them avoid overspending” ( 2). Earning their degree should be a student’s focal point, not getting deeper into debt. I understand retail therapy feels great to alleviate stress from school but in the long run, It’s actually adding more stress by piling up the debt. Fortunately, these problems arena impossible to amend. “Students should understand that their refund check has to last throughout the master. They should strive to use their refund to pay for only necessary is one possible solution for financial mismanagement.
And if students find it too difficult to hold back from overspending, they should consider Joining a money management course. It should be mandatory to take a money management class if a student is falling behind due to finances. “If you try to leave a cellophane system, they almost won’t let you leave, and I Just wonder if there’s something we need to think about in higher education,” she said. “We need a system where, if someone is trundling, if professors notice that somebody is missing a lot of classes, if someone doesn’t early register, they immediately go to student-life services, and someone reaches out” (Minorities 1).
New York Times definitely has the right idea and I want to offer workshops as my solution. Being overwhelmed by finances definitely causes people to become depressed and discouraged to even get up from bed, meaning people stop showing up to classes; some people never go back. And if the school reached out to students when there was a certain amount of absences, I tryingly believe that the student would become motivated because their school cared enough to contact them Just to offer to help.
This school system would require the student to attend the workshop in order to back them up financially. Students attending the workshops could work together to create fundraisers for their school debts including textbooks and school supplies, alleviating stress for the students. Feeling like you’re in a team with people who are experiencing similar struggles helps the student to not feel alone and take initiative on solving their particular problem. This resource will help students to slowly motivate students to attend school and pay off pending debts.
College dropouts will not cease to happen but colleges can help reduce that percentage by participating more with students to pay debts. I’d feel more confident in accomplishing my goal of graduating if I felt like my school was there for me in any way that I needed them, including monetary wise. Dropping out of college shouldn’t be happening, especially due to finances. The reason people decide to attend school is to increase success and income to live in this expensive world.