The student media organization of California State University Northridge

Daily Sundial

The student media organization of California State University Northridge

Daily Sundial

The student media organization of California State University Northridge

Daily Sundial

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Students hold on to their wallets

More college students are receiving financial aid, which can be either a relief to those who are eligible or a tragic reminder of missed opportunity for those that once were.

The 2007-08 National Postsecondary Student Aid Study (NCES) says 66 percent of all undergraduates received some type of financial aid averaging $9,100. Four percent of students had parents who took out an average of $10,800 in Parent PLUS loans.

However, those missing from that statistic include students coming from immigrant families who were unable to finish their education due to financial woes that vary.

‘These students are often left with no choice but to drop out for reasons that can range from credit that becomes ruined, parents losing their income, or they weren’t able to make the transition needed to perform academically,’ said Dr. Allen Martin of CSUN.

Martin is a family and consumer science professor who has counseled students dealing with financial woes associated with immigrant families.’ He has seen situations where a student has used their name on a mortgage that falters along with the student’s credit.

‘Those cases seem to be the worst because the student ultimately looses.’ That student has no other choice but to drop out and provided the supplemental income needed to survive,’ said Martin.

A study from National Institute of Child Health and Human Development (NICHD) says High school graduates from immigrant families are as likely to go on to college and to perform as well academically as their peers from American-born families.

Although financial responsibilities differ greatly between college students coming immigrant families and American born families, they both make up a significant portion of consumer spending.

The 2002 360 Youth/Harris Interactive College Explorer study says that there is a significant power of the U.S. college market and they spend nearly $200 billion a year.
Despite a growing unemployment rate that the latest Bureau of Labor reported rising from 8.1 to 8.5 percent, there are still those that only lose the option to spend their disposable income.’

‘I still go out with friends but I don’t spend as much as I did a year ago.’ What use to be a $100 weekend is now no more than $40,’ said Athena Shahbazian, a 23-year-old liberal studies major.’ However, she believes that people are still spending regardless. She explained how the retail store she worked at during Christmas sold better than last year.

A 2008 survey by Alloy Media and Marketing found that majority of the 18-30 year-old college population spend most of their money on food.’ Automotive cost came second, followed by clothes and entertainment.’ At the bottom of the list is technology and cosmetics.’ The study also concluded that college age consumers make up roughly 18 million–58 percent of which is female.

The number of students who were able to avoid financial roadblocks and manage to graduate was found to be far less than the number last year, according to the 2009 Public Policy Institute of California.

The report concluded that the state is projected to fall about one million college graduates short of the needed for the workforce by 2025.

CSUN’s admissions and records reports that 4,393 have applied for this year’s spring graduation and 1,226 applied for summer.

Last year, CSU Graduates from 23 campuses celebrated their commencement that totaled more than 89,000 students statewide. CSU enrollment continues to grow each year, with more than 430,000 students as of Fall 2007.

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