The great recession has resulted into increased cost of living characterized by a general increase in prices of items. According to McLaughlin, the effects have also been felt by the learning institutions.
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Many colleges and universities have experienced huge losses, forcing them to make major decisions and adjustments to compensate for them. This paper gives a summary of McLaughlin’s opinion in his article “Colleges’ response to budget issues will affect students”.
Among the major adjustments and decisions that colleges have employed is the amendment of their “No Loan” policies. Prior to this major amendment decision, a number of colleges in the United States offered grants and scholarships to middle income earners to facilitate their studies.
The scholarships and grants program proved expensive due to the endowment losses that most of these universities encountered. As a result, they all started reviewing their scholarship and grants policies and some of them preferred to scrap of their “No Loan” policies. In addition, these colleges and universities increased their preference for the richer out-of-state students to the low income in-state-students.
These universities finally resorted to doing away with more faculties’ staff, and reducing student service option with an aim to accommodate the budget shortfalls. These layoffs have resulted into fewer courses being offered in the colleges and universities, elimination of majors, and delays in student service areas.
McLaughlin advises that students in search of higher education should start by finding out the financial aid policies available in the colleges and universities and if these programs are prone to such changes.
The students should also find out the popularity of the major they intended to pursue in their college of choice. If it is expensive they should opt for another college or take another more affordable major. To ameliorate the impacts of these changes, students may find it cheaper to live off campus with a roommate instead of the expensive in-campus accommodation.
In my opinion, the effects of the recession are widespread and no one is immune from them. The changes the universities and colleges have put in place are an evidence of this strain, and the students can only cope if they employ cost-effective measures. These measures should be able to favor them in this period of budget cuts.
McLaughlin, Sharon. College’s Response to Budget Issues Will Effect Students. EzineArticles, Dec. 2009. Web.