The economy affects college drastically. Do to our slowing economy and the credit crisis it is making paying for college harder. This is because in the past students had the ability to get loans from banks easily but, now because of the current credit crisis banks are starting to tighten up and make sure that if you borrow you can pay the money back. Also, if you can't get a loan in the past some colleges can give financial aid. Now because some schools are not getting enough money because of bad fund raising events and loans; some schools may cut their ability to help get you through their school. If you got into a really nice private school usually they still have financial aid and can help you with your money troubles. There are some good things and some bad things coming from this crisis. So the moral of the story is ... Don't Freak Out! You have many options if your young and you understand this crisis like I do. Your best bet is to prepare for the worst.
To prepare for the worst you can start by accumulating money. If your young and thinking about college please start by looking at colleges then, start to accumulate money. This comes in handy when applying for college because then you have some money with you. One way to accumulate wealth is to look into the stock market. Even though I'm telling you about the market don't take any information I give about stocks seriously do your own research on what to invest in. If your young I suggest saving as soon as possible because then when you have some money when you are going to college.There is a complete guide to the stock market in The Teenage Investor by Timothy Olsen. He does a great job of explaining Wall Street. I'm only to chapter 5 and I have already learned so much. According to Timothy Olsen a good way to accumulate wealth is to have compound interest. Compound interest is money that accumulates and turns to wealth. Explore your options when you decide what to do with your money and were to invest. Also, check if your parents have set up a college savings account. If they haven't I suggest setting one up ASAP. Finally, don't fret you have options when it comes to how to pay for college.
This economy has us all worried about what to do with our money. "We are going to see an increase in enrollment at community college," says Mark Montgomery an independent college counselor from www.greatcollegeadvice.com. We can expect that much because of the rising cost of college and the failure of the national government to give the working class a boost in wages, widening the gap between the salary and tuition. Even though we see a negative turn in our thoughts about college one article says that even though the economy is bad enrollment is rising. According to www.stjoenews.com enrollment in college for the Missouri Western State University is rising. We can expect that enrollment in college will drop slightly until the economy can get back on track. In conclusion the current economy is affecting college in a negative way but, who knows this could all blow over within 4 years.
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