She Strengthens

A Generation in Limbo: The Financial Struggles of College Students

As the world grapples with the COVID-19 pandemic, college students are facing a unique set of financial challenges. We’re not just mourning the loss of our commencement ceremonies; we’re worried about our futures.

The Illusion of “Good” Debt

Pursuing higher education comes at a steep price. Student debt is often viewed as an investment, but for many of us, it’s a daunting reality. We’re told that our degrees will lead to higher earning potential, making the debt worthwhile. But what happens when the economy takes a nosedive?

A Recession Looms

The Class of 2020 is graduating into the worst economic downturn since the Great Depression. Many of us have worked part-time jobs throughout college, but those opportunities are dwindling. We’re facing a harsh reality: no jobs, mounting debt, and limited options.

The Stimulus Check: A Drop in the Ocean

The $1,200 stimulus check is a welcome relief for some families, but for most college students, it’s not even an option. As dependents on our parents’ taxes, we’re ineligible for the aid. It’s a frustrating oversight, especially when our parents are also ineligible for the $500 stimulus payment for children.

Unemployment: A Limited Safety Net

Filing for unemployment seems like a viable solution, but most college students aren’t eligible. Part-time workers, including many students, are finding themselves unable to receive unemployment benefits. Those of us who worked on-campus jobs are also excluded from this safety net.

A Systemic Problem

The current definition of unemployment assumes you had a job to lose. But what about those of us who never got the chance to enter the workforce in the first place? The system fails to account for the structural problems that have left many college students without a financial lifeline.

Anxiety and Uncertainty

As we navigate the challenges of finals week, our anxiety is compounded by the uncertainty of our financial futures. We’re not just worried about passing our exams; we’re worried about our ability to make ends meet.

A Generation Left Behind

College students are known for being broke, but we’re more than just a stereotype. We’re a generation facing unprecedented financial struggles, and it’s time for our voices to be heard.