O’Keefe, M. (1986, May/June). College costs: Have they gone too high too fast? Change.

OVERVIEW

Financial indebtedness is a major problem for many students. College years demand great time, energy, and discipline to deal with the pressures to succeed. One of the motivating factors to succeed comes from the financial reward awaiting students after graduation. This becomes particularly important once the student studies the financial cost of college and realizes the enormous debt to pay back.

AIM

A study done in May of 1986 tracked the debt problem for students over the preceding ten years. The study followed how students spend their time and how they meet the rising costs of a college education. This is important as one considers the values that students hold and how economic circumstances can affect a change in the students’ values.

FINDINGS

The facts and figures are supplied by the federal government (tracking financial aid packages awarded to students over the previous ten years), and from the Carnegie Survey of Undergraduates 1984. The statistics indicate that average debt for college students has risen 300% in ten years.

This figure varies upon the selected major; liberal arts majors average less than the technical sciences. Also due to this increase in costs, students are working more during their college career. One third of the college bill comes from their own savings and employment income. The large majority of these students (87%) work part-time; 28% need to work 21-35 hours weekly. These facts appear to lead students to major in areas that meet their needs—not areas that they like. The study concludes that with cutbacks in federal aid, financial pressures are certain to increase—with the disadvantaged being hardest hit. "The matter of helping students, especially those from poor families, to finance their education is one of the most crucial obligations of the nation’s colleges." (Change, p. 30)

CRITIQUE

The survey is accurate in its presentation of statistics. However, it does not show a breakdown by age group. This detailed information is important, as there is an increasing number of undergraduates who are over 25 and have worked for several years. This changing age group needs consideration.

IMPLICATIONS

1. Students have less time to indulge in extracurricular activities. Those working with college students need to be conscious of this when requesting their time. Events should be carefully scheduled.
2. It is important to respect the amount of pressure placed on students when they are asked to prioritize their time. They need to learn sound methods of time management and help them so that their personal and spiritual lives are continually nurtured.
3. Parents need education regarding their college student’s pressures and should appreciate that college is becoming increasingly similar to the adult world.
4. Students need to know that grace and acceptance sustain, even in their failures. As pressures grow, they will fail, and youth workers need to be able to supply a safe haven for them to grow.