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Bad Economy = Big Business in Higher Learning | «« back |
| by Ericka Ward (contributing writer) | November 2009 |
As everyone is experiencing what it really means to be in a bad economy (i.e. high unemployment rates, impossible housing markets, and the unsuccessful trickle down of bailout money), business is booming for those involved in the plight of educating others. According to www. fafsa.com, a website devoted to helping students find resources for financial aid, “The demand on student aid has been climbing as the recession batters family budgets, parents’ jobs become eliminated, and self-employed parents experience business downturns.” In other words: people that can’t find a job, just go back to school. It would not be unreasonable to ask whether these people return to school for intellectual gain, to learn a new trade in order to increase their job market opportunities, or because of the student aid check.
Nevertheless, going back to school is exactly what millions of people are doing. Whether it is to obtain a primary degree or receive a higher degree, two and four-year college enrollment is up tremendously according to the census bureau. When interviewing Kevin Eichelberger, a senior account manager at one of the top educational book publishing companies, he said “Business always goes up for us when the economy is down...especially now that the government is providing funds for the schools in addition to businesses that already contribute money to education.
President Obama is also on board, urging Americans to further their education. On his website www.barackobama. com, he pledges to “Continue to make higher education more affordable,” with one way being the expansion of Pell grants. Aside from the Pell grants, many people are acquiring loans which are to be paid back. These lenders are now dealing with a large amount of students that have loans racking up interest. The interest on these loans alone make way more money for these companies than this recession could offer any middle -class American. In the end, it works for both sides; the student receives a higher education therefore improving his/her chances of getting better opportunities, and the schools, book publishers, and companies like Sallie Mae, get to roll in the dough. The question is, will these students actually receive better opportunities after graduation? Will there be jobs available? Will there be credit extended to start new businesses? And will there be new hope for individuals and families? With the new economy focused largely on health care reform, tax cuts, and going green campaigns, let’s all hope that returning to school doesn’t just fill the pockets of those endorsing higher education, but eventually fill the pockets of those that need it most, the middle-class American fighting for the chance to obtain the American dream. |END
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