Economic Downturn and Student Budgets

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The Great Recession our nation has been undergoing these past few years has had a major effect on the lives of college students.  With student loans now outsized credit card debt in the US, some students are now debating whether they could — or even should — finish their degrees at private universities.  Additionally, it seems that the social aspect of going to college, once thought of as an ancillary benefit to getting a degree, is foundering. 

For instance, many students have had to restrict their budgets such that any kind of social life gets put on the back burner.  After all, things like rent, food, student auto loans, and books come first.  And with less parental financial help, there is not much room leftover for eating out or going out for a night on the town.  This is true even at expensive private universities, as exhibited in this article in The GW Hatchet.