By Megan Davis |Staff Writer|
Now more than ever, Coyotes are realizing the cost for the average student to wear those graduation caps and collect the degrees they worked so hard for.
But as many students are working towards their degree and closing in on graduation day, it is a common question nowadays whether our time and money spent in these classrooms will indeed be worth the life we lead after our time as college students come to an end.
It is no secret that our country is in a state of economic crisis and the job market is nowhere near as welcoming as it used to be, leaving many of us scared that we are wasting energy and spending or borrowing money we can’t pay back.
In fact, of the reported 20 million American college students, 12 million are borrowing money to cover school tuition and fees, according to the Chronicle of Higher Education.
A college student attending a public university such as CSUSB will owe on average $25,000 in loans by graduation day.
While this does seem like a daunting number, I believe that it will not be impossible or even overly strenuous to pay back the debt if you keep track of exactly what you owe and to whom, and by choosing the best repayment plan for you.
“It is truly unfortunate that most of us will have such high amounts of debt after we graduate, but we have to understand that tuition spikes are inevitable in this economy,” said student Amanda Stanford.
In addition, with the workforce being as competitive as it is, a degree is in fact becoming more of a requirement to even be considered for a job.
Employers need to know you have the education and ability to do a better job than every other person fighting for that same job.
However, some students are worried that even if they do land a job after graduation it will not guarantee that they will be able to pay off their student loans any time soon.
“If you do succeed in finding a job the pay is not as much as it was before, leaving most people in debt paying student loans because you are making less than you owe,” said student Leah Luna.
However, even with these nagging worries students should rest assured that after graduation their degree will continue to be beneficial even in these difficult times.
According to an article in CNN, “2010 graduates suffered an unemployment rate of 9.1 percent when they graduated in 2010 — up from 8.7 percent in 2009 and the highest level on record. But that’s still less than half the 20.4 percent unemployment rate for those who don’t get a college degree, according to the Project on Student Debt.”
There are opportunities students can take advantage of to get the most out of their time here, instead of just coming to class and going home. By doing this you can ensure that you are getting more bang for your buck.
Taking full advantage of internships offered through the school and networking to make more contacts in your field are becoming just as important as a high GPA.
The bottom line is that even though college is costing us a pretty penny, a degree is one of our only hopes at making it in this economically fragile country.