Effects of Inflation on College Students

Let's talk

Conclusion

Student testimonies

Let's hear

Bigger problems

Mental health

Is it any different than on-campus?

Commuters

Prices are still rising?

Tuition

Domino effect?

Families

Inflation effects everyone

Around the world

concwerEffects of inflation on college students

Nathan Sapien

ENGL 1301 P. bigham

My goal is to gain a general idea of how the average college student is affected by recent inflation, and each piece that affects students.Each component listed, go into detail about smaller parts that lead to my main topic, which is the effects of inflation on college students. Global Inflation is the root of my problem, it is where everything begins. Once prices around the world start going up, it starts getting reflected in American families, and in everyday prices.Families are the next step. Families are struggling more than before, which then puts more pressure

Research question

Effects of Inflation

on students to find financial support, as financial aid does not cover everything, and families cant help out as much.Tuition is rising, and will continue to rise. This inflation adds even more to the plate of students.Commuters and on-campus students have their own struggles, and have thier ups and downs, but their is still stress no matter your situation.Mental health is being affected, as students are worried about money and finances as prices continue to rise.Testimonies- College students voice their opinions on their personal struggles, and give their thoughts about inflation, and how it has affected them.

Texas Tech's tuition increase rate is higher than the Texas's average increase rate of 30.58%. Compared to all colleges in United States, it's increase rate is higher than the average increase rate of 28.12%.

Texas Tech Tuition

Texas Tech serves as an example of inflation on a college campus, showing rising prices in tuition. This is not the same for every college in the U.S.

• 2/3 students say inflation has impacted their financial well-being.
• 53% say it has impacted their financial decisions, including choice of major.
• 61% of students believe that higher education should be free.

how it is also affecting their educational decisions:

Inflation affecting mental health

Link

Inflation has led to more economic, and debt stress that students have to endure. Inflation is affecting students mental health as well, as it adds another layer of stress onto their plate, while already focusing on school and deadlines, and many other students have other things going on that are already on their minds. These stresses are causing many to reconsider their educational choices.

Commuters have to deal with inflation just a little more than the on-campus student. Commuters tend to struggle with financials more, as they have to find other ways to pay for food, housing, transportation, and many other necessities. Although this is not always the case, it is very common for commuters to struggle more when it comes to this issue.

Commuters

While it may seem like on-campus students have it easy, that is not the case. On-campus students have to deal with almost all the same things that commuters have to deal with, but it is more directly tied to their education and usually factored into tuition. While this may be beneficial, it does not change the fact that students are left with stress of debt that is harming their education.

On-campus

VS

How has inflation affected you in general? Groceries end up being expensive, while trying to stay on a budget, it is hard to get the things I need, without spending more money than it would usually cost me before. I am not even getting name brands, but it is still expensive for me, making it harder to budget my other expenses. Did rising costs affect what major you chose? Yes, I would love to focus on something that I do have a passion for, but the stress of not being financially stable made me go into a more secure career, such a business.On a scale of 1-10 how worried are you about your financial situation in the future, taking inflation into account? 7

Off-Campus student (commuter)

Fernanda Garcia

How does it affect students?

How are families affected?

Families have many different expenses that can be overwhelming at times. Rising cost of food, higher prices in housing and rent, utilities, and other expenses such as healthcare and other miscellaneous bills are rising, putting more stress on families.For families with childeren, inflation has impacted education as well. The cost of school supplies, extracurricular activities, and higher education has risen significantly. Middle-class families are often unable to rely on financial aid or scholarships to cover the full cost of college education, leaving them with more student debt or forcing them to take on additional work to cover tuition.

The financial stress that parents have to face ends up trickling down and effecting students, in sort of a domino effect. Students rely on loans and financial aid to take care of tuition and expensive, but that doesn't always cover everything. Parents having more expenses, means less help they can provide for their childeren attending college.

While sometimes it may seem that inflation is only a problem in the US, it is still a big issue across the world.In 2022, global inflation rates reached their highest level since the mid 1990's.Oil prices have been a large reason for global inflation, as countries are almost always importing oil from other countries, causing it to affect everyone involved. Another cause of global inflation is global demand and interest rate shocks, which cause prices to rollercoaster, without a good prediction of what will happen next. All of this eventually leads to higher prices in America, and harder times for American famillies.

Around the World

Inflation

In conclusion, There are many affects of inflation on college students, and there are also many different reasons of why these students are affected. Money has always been an issue for the average college student, and recent rises in inflation is making things harder, and more stressful. This stress leads to changes in academic decisions, as well as negative impacts to mental health.

Conclusion

How has inflation affected you in general? It has made moving into college more expensive, especially with picking out stuff for my dorm, and even now, grocery shopping is a little scary.Did trending higher costs affect what major you chose? Yes, I wanted to pick a major that paid good. I initially wanted to try something that seemed a bit more interesting to me, like art or something that would be more fun in the future, but I decided to do architecture, which will be a lot more beneficial financially. On a scale of 1-10 how worried are you about your financial situation, taking inflation into account? 7

On-Campus student

Noah Martinez