“balancing Act: Juggling Student Loans And Other Financial Goals” – Canta Canta is a digital platform that enables Africans to send and receive money globally from any device instantly
Investing in education is essential to securing a brighter future. However, financial constraints can hinder this goal. Fortunately, there are two common options for financing education: student loans and payment plans. But which one should you choose? In this article, we’ll explore the pros and cons of each approach, so you can make the right decision and achieve your academic goals without compromising financial stability.
“balancing Act: Juggling Student Loans And Other Financial Goals”
They have long been a popular choice among students because of their lower interest rates compared to other forms of loans. But before you make your decision, here are some important points to consider:
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Taking out a student loan can be a life-changing decision, as it can pave the way for educational opportunities and a brighter future. However, it is important to be aware of the challenges that come with it, such as payback and long-term financial impact. To get the most out of this journey, borrowers must approach the process with careful consideration, financial planning, and knowledge of available resources and support. By taking an active role in managing their loans, individuals can better navigate their student loan journey and ultimately shape a successful future for themselves.
As we all know, financing education can be a daunting task. However, did you know that student loans aren’t the only option available? Payment plans provide an alternative method that allows students to split their tuition fees into more manageable installments. This can be a great way to make education more accessible to everyone. Let’s spread the word and help students maximize their education without breaking the bank!
Payment plans offer an alternative approach to financing education, providing students with affordability, flexibility and interest-free options. Students can better manage their cash flow and develop financial discipline by spreading tuition payments. However, it is important to review specific terms and consider personal financial circumstances before choosing a payment plan. By doing so, individuals can choose the most suitable option that will allow them to continue their education while maintaining their financial stability.
When deciding between student loans and repayment plans, evaluating your personal circumstances, financial goals, and priorities is very important. Consider the following factors:
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Financing your education is an important decision that requires careful consideration. Both student loans and payment plans offer their own advantages and disadvantages. Student loans provide flexibility and the opportunity to build a credit history, but they are responsible for repayments and interest accruals. Repayment plans offer affordability and interest-free options but may lack the flexibility loans provide.
Ultimately, choosing between student loans and payment plans depends on your unique circumstances and financial goals. It is very important to thoroughly research and explore the terms, conditions and available alternatives in order to make a decision that aligns with your educational aspirations and long-term financial well-being. For many students at UO, college is not just about getting the “college experience”. Working students – young adults who are full-time students and maintain part-time or full-time jobs – actively work during the school year to pay for their college tuition. Jobs add a lot to their plates. Students already balance their social and academic lives so well that it’s hard to imagine having time for anything else. Throwing work into the mix can leave students overworked or mentally drained—and no time to look after their mental health.
Tony Van Spaendonk is a sophomore at UO who works at Cafe Yumm. They had worked there since May and, despite their complaints with the place, they loved their co-workers and the work environment.
“Sometimes I work 12 hours a week, and sometimes I work like 22 hours,” says Van Spaendonk. “I feel 15 is a golden number. Enough where I’m not too busy, but I also make money.”
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They prefer to work Monday to Wednesday afternoons, letting them go to school in the morning and work at night. “Usually I work all Saturday and Sunday — which I don’t like because I don’t get a day off from school or work,” says Van Spaendonk. “I really feel like I’m always active.”
Van Spaendonk pays a portion of their tuition, as well as their housing and living expenses, as they work year-round. They explain the key to keeping their work and school life in balance is getting enough sleep at night, which means around 8 or 9 hours. Van Spaendonk is usually more concerned with school and work, but wishes they had more time to focus on their mental health.
“My mental health has deteriorated somewhat. To relieve stress, I basically do nothing. I just need that time to recharge. I literally would just stare at the ceiling,” they said with a laugh.
Van Spaendonk loves going to shows and concerts, but sometimes doesn’t have time because of work. “Sometimes it can be frustrating when I have an assignment to finish in the middle of the night and I get home from work at 8,” says Van Spaendonk. “I don’t have time to do anything else.”
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They said, “Lowered tuition and free housing would be a great way to help student workers,” adding, “Please pay students more. That’s my general view. This suggestion seems like the opposite of what happened at UO recently, with the addition of the Unthank Hall and the removal of some of the more affordable UO dorms.
“I feel like offering more online class assistance,” he says. “Last year, in the asynchronous class, I would only do my job when I had the opportunity and time to do it. I like in person, but it’s harder to get my work done.
He also thought it would be helpful if professors recorded lectures or were more transparent about putting their powerpoints online. Tietz said, “Sometimes I miss class while working late, and then I can’t access any lectures.”
Tietz worked 40 hours a week at Home Depot Monday through Thursday, 8 p.m. until 6am. He worked as a merchandiser, replenishing shelves and doing general cleaning around the store. Tietz said he was tired of his 10-hour shifts and, because Home Depot was currently understaffed, it was difficult to reduce his shifts.
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“I sometimes set myself up for failure,” says Tietz. “I work too hard and push myself to get the job done, but my problem with work is that I’m so tired all day long.” He admits school is the main thing for him, but also has to work. So planning his school and work schedule can be overwhelming. “Just trying to make sure I don’t sleep during my class is also a problem,” says Tietz. “I woke up, and I was very tired.”
Even though the work can be tough, Tietz feels supported through his friends and students at Delta Zeta. “I have a group chat called ‘Jessica’s Nanny,’ and it’s where people remind me to stop working so hard,” she says. When Tietz came home, his sister reminded him to sleep and rest, and also made sure that he was included in sorority weekend activities.
“If I’m overworked, I don’t have time to think about my mental health,” says Tietz. “I think work takes its toll. I’m always mentally tired; I have a hard time saying no to things, but as long as I have people around me to help me it’s not so bad.”
UO students already have a lot to think about, and that’s without a 40-hour work week. While universities do offer many mental health resources, it is important to consider the needs of all students. Twenty-five percent of students also have jobs, which is one in every four students. These young adults are a niche to be reckoned with. Things like affordable tuition and flexible class times will reduce the stress of working students, and make college more accessible to everyone.
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Daily Emerald, published by Emerald Media Group • 1395 University St. Suite 302 • Eugene, OR • 97403 / Terms / Privacy / Copyright © 1996-2020, All Rights Reserved With demanding social and academic schedules, finding balance as a student is a grueling task. Photo courtesy of Unsplash.
When I was told that college would be more difficult than high school, I was up for a more academic challenge, with strict professors and rigorous courses. Nobody mentioned that these difficulties would also extend to every other aspect of life – social, personal, and academic – leaving me having to navigate how to balance it all.
Knowing how to manage your time, what to allocate your attention to and when to do it, is a skill that very few master – myself included. Although, as someone who has just started using Google Calendar, I’ve learned that even the slightest bit of organization can go a long way.
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