How Affordability and the Rising Costs of Universities Can Affect a Student’s Academic Performance
My research is on the rising costs of college tuition at universities and how a student’s academic performance is impacted. The costs to attend college is rising every year. As the costs of college rises, students are suffering financially and failing academically. The articles used in this paper are based on scholarly articles and journals that represent how financial burdens can cause academic stress. My research led me to several sources that together helped me feel more confident and knowledgeable about the various types of financial burdens, academic stress, and solutions to cope with these factors.
Students are suffering financial burdens due to the rising costs of universities. Students are dropping out of school or reducing their credit hours as a result financial burdens due to the rising costs of college. There is less time spent on academic work, which impacts learning and retention. Balancing work and school takes time (Joo, Durband, & Grable, 2008-2009). Many students do not have the money to pay for college, so they are responsible financially. The costs of living are also rising, so this adds even more stress. I have learned that it is important to balance the two so that students can maintain their grades and keep up with their finances. If there’s not a balance, students end up staying in school longer and they are more stressed because of financial debt. By staying in school longer, students end up paying more for college expenses. Most students must take out school loans, so they can attend college, which adds stress and the potential for debt because the interest rates for school loans are rising.
Although some students qualify for financial aid, the cost to attend a college university is more than some students qualify for. Some financial burdens are linked to students spending more time working to pay for expenses and less time studying for school. Time management is a coping strategy, but may be complex (Macan, Shahani, Dipboye, & Phillips, 1990). Even though time management may be complex, I have learned that it is necessary to achieve academic goals. Managing behaviors and time management is beneficial to students. Students need to find a way to manage their time for jobs, social lives, and academics. By balancing time, students will be less stressed and more successful in school.
More students are having to work more hours to pay for their college degrees because they come from low-income families or they are first generation students. These students are more likely to suffer from financial burdens. The financial strain causes mental health issues. Stress leads to depression and negative behaviors. Stress may interfere with students’ ability to focus and get good sleep. This presents difficulties with academic performance and leads to low completion rates. Financial strain is one of the main stressors for low-income students (Adams, Meyers, & Beidas, 2016). Perceived stress is an important intervention for psychological symptoms and academics.
In an ideal situation, students can focus on their academics and not have to stress about finances. It would be great if everyone came from a wealthy family and had their college paid for completely. It would be nice to live in a dorm and have all your expenses paid for. In reality, that’s not an ideal situation. Many students are not prepared for the financial burdens of college and what it takes to balance school and work. Many of these students are more likely to go into debt, which affects them in the future. This can have a devastating effect on families and can impact our future generations.
College universities should dedicate more time and resources to make higher education affordable. Every student comes from a different background and has different financial situations. Colleges should provide more counseling services, financial education, and money management. There should also be more programs to help college students financially. By providing more programs, students can focus more on their education and not have to worry about the financial burdens of paying for college. Students should also be informed of all the scholarship programs and resources that are available. These solutions can help raise financial awareness so that every student has a chance to succeed. College is stressful enough, and finances shouldn’t be an added stress. The goal is to have more educated people to have a more successful society and economy. Financial hardships are linked to negative economic activity and financial imbalances.
Each of the sources provide facts and solutions that are linked to financial burdens for college students. These sources are useful for parents and college students. They can become more aware and informed of the consequences of finances. These sources provide information that can help students stay focused on their academic goals by balancing their time and preparing for college financially. Although students can’t eliminate stress completely, they can reduce it.
In conclusion, obtaining an education needs to be affordable. There are several factors and solutions that are related to the rising costs of universities and how it affects academic performance. Students need to be prepared for the financial burdens and the stress that is caused because of the rising costs of colleges. By being prepared, students can avoid stress that leads to academic failure. It is important for students to plan for college in advance and gather all financial information so that they can budget accordingly. They can apply for grants of scholarships on top of financial aid. They can also take some classes at a community college and transfer later to save money.
References
Adams, D. R., Meyers, S. A., & Beidas, R. S. (2016). The relationship between financial strain, perceived stress, psychological symptoms, and academic and social integration in undergraduate students. Journal of American College Health, 64(5), 362-370.
Joo, S., Durband, D. B., & Grable, J. (2008-2009). The Academic Impact of Financial Stress on College Students. J. College Student Retention, 10(3), 287-305.
Macan, T. H., Shahani, C., Dipboye, R. L., & Phillips, A. P. (1990). College students time management: Correlations with academic performance and stress. Journal of Educational Psychology, 82(4), 760-768.