Essay on Effects of Recession on Students
November 7, 2011
Example Essay on Effects of Recession on Students:
(College life has many challenges that lead to a combination of problems that are propelled by inefficiency in service delivery as well as incompetence. These can be dealt with all the same if proper procedures are taken by relevant stakeholders).
As inevitable the recession might seem to be to the economic life of the world, its effects have proved to be more widespread and devastating than we can imagine them to be. Imagine waking up to find firms and industries downsizing their workforce, prices of basic commodities rising by the minute, cost of healthcare being far from affordable, crime rate and insecurity being the only topic of the day due to super high cost of living, and as if not enough, the most important sector of civilization, education becoming so expensive beyond the reach of the modern day small family that tags its future on the little kids dressed in their school uniform hoping that one day they will finish school and get employed with a decent income to bring back home. These forces youth to resort to crude money making methods like selling drugs, prostitution and theft.
The Recession is the period when the economic output is decreasing instead of increasing thus having the effect of reducing tax revenues to the government. This Forces the Government to dig deeper into reserves and external borrowing to suffice its expenditure, thus plunging the economy into debts, causing effects such as inflation. Inflation directly boils down to the individual citizen who has to spend more on goods and services as the cost of living escalates.
Crime rate has been increasing as a result of the high cost of living brought about by recession. This is as a result of many students resorting to theft and fraud in order to get an extra dollar for their upkeep and tuition fees. This will lead to student living with fear as their property is always at risk of loss and they are afraid of being harmed due to the violence that is associated with stealing. The rise in crime rates will affects the concentration of students as they cannot fully concentrate on their studies because of concern on the security of their property. Crime rate also brings about insecurity around the campus since the affinity of students to steal has risen. This creates an in conducive environment for studying and thus the students grades will drop significantly.
Parents are not able to support students effectively because some have lost their jobs due to employers downsizing firms. This will cause a degree in performance of students because low standards of living give the student a hard time and thus they are not able to have concentration in their studies thereby affecting their performance in class. In order to achieve good grades, peace of mind is essential to be able to grasp what is being taught during lectures and personal studies. This is evident by a survey done about the recession and its effects on students, where it reported that one in four students would receive less financial support from their parents or guardians as a result of the recession.
A survey done about recession effect on graduate employment shows that many students are scared that they will not be able to get employment when they graduate because of the recession. Students will become extremely demoralized when they work so hard to get perfect grades, only to realize that there are no employment opportunities for them in the job market. This makes some students even drop out if college to start self proprietor businesses in the attempt to make a living. Or in other cases, drop out completely since they cannot be able to pay bills as they no longer participate actively in part time jobs which initially enabled them to pay some or most of their bills like housing and school fees. The tuition fees of most students is funded either by loans from the government or financial institutions. The recession leaves the students stranded with hefty loans because even after finishing college, they are unable to service their education loans since they are unemployed. This notwithstanding, the heavy interest rates that are attached on the loans upon borrowing are attached to this effect. Budget constraints also affect a very sensitive department of student loans and aid. This department focuses on helping students have a smooth education by trying to meet their financial needs, I personally being a beneficiary of this program. Cut backs on this department will force other students out of college and might lead to unrest in college which normally disrupts studies for a while.
On the issue of budget cuts or budget constraints as a result of recession, we find that budget constraints affect the college programs, for example; course offering programs and general student activities like sports and extra curricula activities, outreach programs and inter campus programs among others. We find that all these programs might end up competing for funding because of reduced funding due to the budget cuts; hence all of these programs have to consider taking the financial cut backs to coexist and allow the programs to continue even though they can barely start with these minimal funds. The other issue is on the number of classes offered. There are fewer classes offered in college and this makes it difficult for students to meet their intended goals. This leads to students paying very high for tutorials since the college has no more tutoring rooms. Books have in turn become very expensive for normal students to buy.
Finally, these effects of recession and budget cutbacks being just the tip of the iceberg, recession and budget cuts heavily affect our studies and general welfare as students here in college, all we ask and pray for is for the government to see into it that at least students are considered as a special group who haven’t fully developed their own wings to fly independently, thus to support us during this harsh times by exempting us from budget cuts and allocating emergency kitties to support us during the recession. Also, to see into the issue of unemployment such that fresh graduates are absorbed directly into the employment category swiftly to at least enable us to clear the heavy education loans that are pegged to our certificates. This at least will give us a chance to not only start our own lives, but to support our young ones at home and our families who have put a lot of effort in our education to see us succeed in the future. Help us build a brighter future.