Economic Trends For Students

https://americanbusinesscouncil.net/economic-trends-for-students/

Our society has assumed that college students are teenagers or young adults who live with their parents on campus. But this assumption is changing as more and more students go to college later in life, take longer to graduate and work outside of their major field of study (Hittepole 2018, 2018).

The cost of tuition is increasing and students are taking on more debt. Many of them are struggling to achieve their financial goals after graduation and relying on social programs such as food stamps to pay for their food. As a result, they are less likely to purchase homes or starting small businesses. In addition, they are less likely to start the next phase of their lives as a family.

As the economies around the world continue to grow, it’s important that educational systems align more closely with local economic development plans and goals. This will ensure that the skills generated by the educational system of a nation are relevant to the jobs that are available in the region.

The good news is that the positive relationship between education and economic growth can be seen to well beyond the high school level. Research shows that a bachelor’s degree holder can expect to contribute $278,000 more to direct expenditures over their lifetime than someone with high school education. How student debt affects this positive impact will depend on the individual borrower’s financial management.