Monday, March 16, 2009

A students guide to beating the recession

By Nicholas Hall

There are many questions being raised as to how the current recession will affect students paying for college. Will the recession affect your scholarship or student loan? How are colleges responding and will prices go up? Will this affect my chances for getting into a college? All these questions can really stress out potential and current students who are dependent on a good education and monetary aid.

There is some good and bad news regarding the outlook of college finance. Anyone already approved for a scholarship or student loan for 2009 will still receive this benefit; however, the outlook for future scholarships is grim. There will always be loans available, although now there are fewer lenders ready to loan. Even though getting monetary help for school will be much more difficult, the government is still offering their plans and trying to help America’s youth receive the education they deserve.

The recession is seriously affecting many colleges already. Students are dropping out for financial reasons, much of their savings has been lost through the terrible market situation, and they too are losing access to loans. Some colleges are boosting prices so they can continue their operations at a similar level; other schools are laying off employees, reducing services, cutting back on sports and hiring. As far as getting into college, as long as you can pay for it there will certainly be a school that will accept you.


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