Have you ever bought something you couldn’t afford? How about something not only out of budget, but straight up superfluous?
For college students, money problems are abundant enough without capitalism getting in the way.
According to studentloanhero.com, student debt just hit $1.5 trillion nationwide, and it’s estimated that the average student graduating in 2018 must emerge from a $39,400 hole.
Student work is one way students may counter the growing cost of higher education.
Unfortunately, a lot can happen between one’s wallet and the mounting tuition costs that may distract us from our educational priorities. By eliminating the middleman—in this case, a personal bank account—colleges who offer student work opportunities may ease their student-employee’s decision making processes regarding spending.
Student workers may be more likely to continue their education if their income goes directly to their education. By streamlining the connection between the workplace and worthwhile spending, colleges can encourage students to persist, rather than dropping out in favor of another hourly, short-term occupation.
A study conducted by Ohio State University revealed that over 70 percent of college students are stressed about finances. By depositing money made into an academics-only type fund, colleges ensure that students continue to mind their studies, even in the face of family stressors.
Colleges ought to be challenging their students to a healthy degree. Unless students are already receiving financial aid directly toward their education, the pay student workers receive should go directly to their classes.
By depositing wages directly into tuition or other academic costs, administrators may facilitate student retention and improve their chances of graduating.