Economic Problems
The economic problems of modern students have never been greater. Now is a hard time for students in the United States of America. The dollar value you get off of a degree compared to the average hourly wage of the job that will get it for you has never been worse. Healthcare is more expensive than ever. So students that get sick (especially now during covid) can be greatly affected. Sure, part of their wage may still be paid during these temporary changes but, that only covers so long.
Some people including many students have had very long recovery periods. From the beginning of the pandemic to even now. People have had strange symptoms that don’t seem to go away and that’s just strange outliers happening now. Similar things happen all the time. People get strange ailments and can’t perform their job. Now there is generous help but it won’t stay this way and it’s not enough for everyone. Some people had good jobs and debt to match what they made. That’s just the system we are taught growing up. Then when they lose the job, and assistance isn’t enough to keep up with their debts. They can lose everything.
Students are facing the same problem but with the mounting problem of classes and the cost on top of that. If they can’t work, they lose their job. That’s the same for everyone but student debt hasn’t been forgiven, and people who don’t have assistance are in a much harder situation. When it comes to the cost of school it can change everything. It has never cost more to be alive and the students that are going to school without assistance from anywhere are having to pay money that they need to live for classes and there isn’t much more education assistance than before the pandemic started.
Modern Solutions
Now there are some ways these economic problems can be worked around using the state the economy is in. there are grants available through the school, and as many scholarships, as you can apply for. You can use the hard times we are going through right now to help you survive during the next few years as things start to recover. You can also apply for higher levels of unemployment temporarily and make sure you file your taxes correctly to get all of the stimulus checks if you qualify for them. This money is a temporary influx for the economy but that isn’t how you should use it. Take the money and pay any bills you need to pay off first and then start investing.
Many industries are down by over 50% of their stock value when compared to pre-pandemic. Those stocks that are from companies that were doing well before the pandemic will recover even if it takes a while they’ll get close to what they were before and likely in a fairly short amount of time from a year to two on the far end. I took advantage of this personally using leftover money from a scholarship and now it will go on to help me pay for more of my school several times over. Here is some other advice to help you get around these economic problems from nerdwallet. nerdwallet Investing Advice
ABOUT THE AUTHOR
Pj Heckert
Student Author - Spring 2021
