Posted inColumns / Opinion

College Debt: a Distant Fear

From Spencer's Facebook page

The summer following my high school graduation was a good one, but the knowledge that I would soon be going off to college was quite worrying. I didn’t really know what I should have anticipated, but more than anything I was worried that I wouldn’t have enough money for college. My senior year I was a complete slacker, I didn’t apply for any scholarships and I didn’t even bother attending senior awards night. Constantly hearing horror stories of college students eating ketchup and saltines certainly didn’t ease my anxiety. In high school all I heard was how much of a value concurrent enrollment classes were and how we all need to seize as many scholarship opportunities as possible.

A quick Google search can confirm these fears. According to projectonstudentdebt.org, students owe more and more each year, with an average of $28 400 in 2013, a 12 percent increase from 2012. In Wyoming alone, the average debt is $22 879. With statistics like these it’s completely reasonable for anyone to fear student debt.

Now, I’m well into the second semester of my sophomore year and I can say that my attendance at UW has not been nearly as costly as I anticipated it would be, in fact it’s been far more luxurious than I could reasonably expect. My freshman year, after all of my grants and financial aid, I had to pay about $3 000 total. Swiping my card and having $1 500 disappear from my life each semester was an odd feeling, but viewing it more objectively things could get much worse, and I really anticipated it would as I progressed in my schooling. This year, I haven’t owed any money to the University, in fact, including the amount I was refunded I received just under $4 000 dollars over these two semesters.

This money has gone on to sponsor a lot of my personal addictions. As soon as my refund came in I dropped right under $500 on a new camera lens, I started to spend money on free-to-play games, and just a week ago I pre-ordered a game that isn’t coming out for two months just because I was running out of things that I wanted to buy. After indulging my spending in every way I could conceive, I still have $800 remaining.

Realistically speaking, my projection of the financial burden that college would be was probably overblown. Between my mom being diagnosed with kidney failure and my dad doing dialysis at home rendering them both unable to do any physical labor, and me being too lazy to apply for scholarships, paying for college looked terrifying. Even accounting for my exaggerated projection, I would have never anticipated receiving money for my attendance. I also realize that I’m lucky to be in this position, and recognize that not everyone is as lucky as I am.

 

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