Research Paper: Economic Impact Study: Students

Pages: 7 (2259 words)  ·  Bibliography Sources: 3  ·  Level: Master's  ·  Topic: Economics  ·  Buy This Paper

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[. . .] Often, college students fall into that category, as do many people who are just out of college and now have a number of student loans they will have to repay in an economy that is not growing or adding new jobs (Kadlec, 2013). Students who are in college and those who are just out of college have very little disposable income, and they are not spending like they would if they had more money and the economy was strong. The struggle that they are facing is very real, and compounded by the higher education system and how it has become so expensive to get a good education.

That is not to imply that the recession is the only issue, or that there would be no financial problems for college students if the economy was better. However, an economic analysis would not be complete without taking into account the current state of affairs where the country is concerned, and right now the recession is still a significant issue in the lives of many people. The cost of attending college continues to rise, but the number of jobs and the wages they pay are not rising proportionately. With that being the case, students have to consider whether attending Schreiner University is a good choice now, or whether they would be better off to attend a less expensive state school or simply find a job somewhere. Many students are finding that the massive levels of student loan debt they are taking on are sinking them financially when they graduate and cannot find a job (Joint, 2013).

Future Economic Predictions

With the current recession and the costs of attending college, as well as the rising level of student loan debt in the United States today, future economic predictions look glum. There is no real end to the recession in sight, and the costs of college are not going to go down any time soon, if ever. Keeping that in mind is important for students attending or considering attending Schreiner University or any other institution of higher learning, because they must carefully weigh all of their options regarding whether attending college at this point is a good idea or a financial burden.

Conclusion

Overall, students who attend Schreiner University get an excellent education. The school's small student body and great location make it a good place to learn and to network. The financial assistance available to some students can also help them attend there even if they would not otherwise be able to afford it, and just about everyone can qualify for a student loan of some type. However, the real issue is not about whether a person can get into the school financially, but about how students there -- and in colleges and universities all over the country -- are impacted by the cost of simply paying for college. Money they would put into the economy and spend on other things all goes for tuition, books, room and board, and other fees and charges. Because that money is going to the college, it is not going to the restaurants, grocery stores, movie theaters, cafes, book stores, clothing shops, and other retailers in the community, which can cause economic problems for many businesses. That is especially true of small, local businesses.

The more people going to college in a community, the fewer people with disposable income. What is good for the college is generally not good for the rest of the economy in the town, because of the strong economic impact on the students. People who are in college and have no disposable income will simply not spend money, which makes it difficult for them to live comfortably and difficult for the community to support the businesses that will hire those college students to work and make money to pay tuition. Some of the businesses that might have hired those students when they graduated might also be forced to close. While the economic impact on the students in highly significant, it is only the tip of the iceberg when it comes to how college costs impact a community and the entire economy.

References

Joint Economic Committee. (2013). The causes and consequences of increasing student debt. United States Congress. Retrieved from http://www.jec.senate.gov/public/?a=Files.Serve&File_id=d7937b2f-e01c-4721-8b8b-09f5776725a1

Kadlec, D. (2013). Student loans are becoming a drag on the U.S. economy. Time Business & Money. Retrieved from http://business.time.com/2013/10/18/student-loan-are-becoming-a-drag-on-the-us-economy/

Schreiner University. (2014). Schreiner.edu. Retrieved from http://www.schreiner.edu/financialaid/value/index.aspx [END OF PREVIEW]

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Economic Impact Study: Students.  (2014, February 19).  Retrieved April 19, 2019, from https://www.essaytown.com/subjects/paper/economic-impact-study-students/2833483

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"Economic Impact Study: Students."  Essaytown.com.  February 19, 2014.  Accessed April 19, 2019.
https://www.essaytown.com/subjects/paper/economic-impact-study-students/2833483.