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Oct 14, 2008 5:40 pm US/Eastern
College Students: From Poor To Poor-er?
PHILADELPHIA (CBS 3) ―
With skyrocketing college costs and growing concern over the job market, college students aren't spared when it comes to the effects of a struggling economy.
Now, with the presidential election just weeks away, students here in Philadelphia say buzz about the economy may have reached an all time high.
"I think it's actually a huge topic right now," said senior University of Pennsylvania (UPenn) student Kinjal Parikh.
Parikh's parents foot most of her tuition bill, so she hasn't felt as much of a pinch in recent months, but for students like Antony Corrie who pay their own way, times are tough.
"With tuition and room and board, I'm going to be about thirty thousand dollars in debt ... I'm worried I won't be able to pay it off," said Corrie.
Even students with short term help from parents or scholarships say they recognize the potential hardship they may have in the job market.
"I think there's a little bubble here that makes you feel safe because you don't have to look for a job. But, knowing I am going to get out there and have to find a job ... it's going to be tough," said twenty two-year-old Anthropology major Garret McKay.
At a time when unemployment is at a 7-year high, college tuition dramatically increasing and more than seventeen billion dollars issued in private student loans, students of all financial backgrounds agree it may be best to tighten their belts.
"We buy what we need and we watch what we already have ... and just make sure we're being cautious," said Senior Drexel student Jamie Duncan.
For Jaclyn Chen of UPenn, cutting back on going out to eat and shopping does the trick.
Others listed public transportation, dining dollars and limited trips back home as ways to cut costs.
One thing most students won't sacrifice? Good times!
One student mused, "I cut back in other places, so I can keep partying! That's what college is for!"
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