When it comes to the price of tuition, students are always unhappy. We’re very used to that line that our parents’ generation loves: “College nowadays is so expensive. What you pay for in a year is how much my entire education cost!” It’s frustrating, and it can be disheartening for those of us who are struggling financially. Some would argue that we’re being drowned in our debt. Some studies have shown that student debt can be around 60 percent of some graduates' annual income. And that number is increasing all the while.
The State of Michigan’s 2015 budget capped tuition increase at 3.2 percent. That led to most schools in Michigan increasing tuition around 2.78 percent. My school, Wayne State University, fell just below the cap at 3.2 percent, or an increase of approximately $313.50 per year for in-state undergraduates. Last year, we saw an increase of 8.9 percent. And I’m sure you might be having similar problems at your institution.
So what do you do when your tuition goes up? How do you reconcile the fact that you love your institution and you’re having the time of your life, but your semester bill is always in the back of your mind? Here’s a list of five things I’ve identified to help you handle tuition increases responsibly.
1. Breathe.
Breathe in, breathe out. It’s okay. It’s happening to all of us. Nobody’s happy about tuition increases, and we may feel like there’s nothing we can do about it. But no matter what happens, we will be okay. We’re doing great. Our families are proud of us. We’re going to finish school, and we’re going to graduate, get a degree, and get our dream jobs right away! Okay, maybe not right away. But eventually. When tuition goes up, you have to put everything into perspective. You have to say, “I am in college. I am pursuing a degree. I am going to enter the workforce, and my adult life, with prowess and authority. Yes, tuition is increasing, but so is my skill set. I am going to get through this. I’m more than a set of numbers and tuition bills.” Yoga helps, as does deep breathing. And just imagine that glorious day when you have all your loans paid off!
2. Research your loan repayment plan.
You’d be surprised how many students are unaware of the particulars of their loans. In fact, many loans give you a grace period of up to a year, meaning that you won’t have to make payments on your loans while you get on your feet. This can be a big help, especially when you’re planning to get to work right away. Many payment plans also allow you to defer loans until after you complete any graduate or professional schools, so you can wait until you’re actually working in your field before you start paying loans back.
3. Research external scholarships.
This is a big one. Many college students forget about the vast network of scholarships that are out there, waiting to be claimed. Just because you’ve already gone through the admissions process doesn’t mean you can’t get more scholarships! There are many scholarship search engines that will pair you up with scholarships that apply to your field of study, an interest you have, or the school you go to. And don’t be turned away by scholarship amounts that may seem too small – every little bit helps, and you may find yourself significantly better off after applying for small scholarships whenever you get free time.
4. Don't blame your institution.
Tuition is going up everywhere. It’s happening to everyone. You’re not alone, and your institution isn’t the one to blame. Things are happening behind the scenes that you may not currently know about – and rather than assume, why not educate yourself? Many universities have public Board of Governors meetings, where the budget for the fiscal year is discussed, with all of its nuances and stipulations. Your institution may also have a public relations website that will go into better detail with the year’s strategic plan. Universities are usually very transparent, and so there’s very little excuse for not knowing what’s going on.
5. Appreciate where you are now.
You’re studying at an institution that probably has some of the best of something. Maybe it has the best education program, or the best food, or the best medical school acceptance rate. Or maybe there’s just an aggregate of little things that make it uniquely special to you. No matter what it is, there’s a reason why you are where you are – and you know, deep down, that you are right where you’re supposed to be. Look beyond your tuition bill and realize that you’re still young and have a world of possibilities open to you. Sure, you may have some debt, but you’ll have the memories for much longer. So cherish every friend you make, every chance you have to get involved, and every single moment that makes for a beautiful experience, because you can’t put a price tag on any of those things.
