Current students form economic resurgence
Published: Sunday, September 29, 2013
Updated: Monday, September 30, 2013 00:09
This semester marks five years since the world economy slipped into the worst economic decline since the Great Depression.
Five years may not seem like a long time, but consider what else was going on in 2008. Rock Band 2 debuted, Iron Man played in theaters, and The Jonas Brothers were tween girl’s dreams.
As the economy expands once again, the events of the 2008 recession are quickly becoming history.
The ramifications in your life, however, may not have been fully played out.
Many students are members of an awkward generation, old enough to remember the recession, but not yet old enough to have it directly affect a career.
Most of the students on campus were not yet old enough to vote in the 2008 election, let alone hold a job that would be terminated due to economic hardship.
The effects of the recession are very real on campus, however.
The recession caused a very volatile job market. Many jobs in the market simply ceased to exist. The resulting decrease in job supply created a shortage of jobs and led to high levels of unemployment.
This particularly hurt people with little education or skills to work with, driving many “back to school” to seek a degree.
Graduate students may have stuck around for the same reason. According to the Multicultural Center at Arkansas State University, the number of students at Arkansas State over the age of 25 has risen from 3,662 in fall 2008 to 5,607 this year.
Many students are attracted to Arkansas State University because of its lower tuition price.
While being less expensive than most private institutions Arkansas State is significantly cheaper than U of A (it costs nearly $1000/year in tuition more to be a hog).
Astate is also more favorable in giving scholarships to students with ACT scores in the 25-30 range making it more favorable to students with scores in that range.
Harder economic times make it more imperative to stretch every dollar. The bargain that students receive at A-State makes it a bastion of higher education during economic hardship.
While the recession was devastating to the world economy, its effects are not all devastating to students.
Whenever the economy takes a tumble, interest rates fall to encourage companies to borrow and invest in economic growth.
Student loan rates are also decreased making them accrue less interest while students are in school thus easier to pay off in the long run.
The group of students that is studying right now has a very golden opportunity in front of it.
After every economic downturn there is always a resurgence; we are in the resurgence now.
This class of students can walk boldly into the workforce, degree in hand, and help re-establish the strengthening economy.