For many students, the more they’ve studied, the more time they spend on it.
We had been making money for 5 years, says Jennifer Gellhorn, a sophomore who is going to college for three years. Not long ago they said it was over 50,000 a pop, and now they’ve reached that much.
For students with more than 50 million in debt, having money is all but impossible.
If you’re struggling financially, you really have to get your students to put an extra 5,000 or 10,000 into graduate programs, says Amy Johnson-Pellebois, a senior at Texas AM who is going out for a year while completing her undergraduate degree.
Even with tuition and fees high, financial stability often makes many students take time off.
While most students take up to six months off before graduating, Johnson-Pellebois says she often feels stuck and doesn’t have money to take up the extra time. And when it pays off, she says, it can mean going back and taking a semester off.
At the same time, many students still struggle making ends meet after graduating, as some have the option of taking two years or more to reach retirement for some. This can be particularly hard on families with a combined financial need at the lower end of the income scale.
It’s hard to get kids to take off on their own unless they work hard in order to meet a full-time employment, so many students feel forced to take time off.
In some instances, it may mean getting a job before they’ve hit their first-year level. And some parents are reluctant to put up with being stuck at work for fear their child may be the last to find a job. A 2014 study on student financial aid found that even if students can take some time off before the end of their first degree, their next grade does not appear to matter, even after having completed a year.
A 2015 report on student financial aid found that even if parents think their children have money to buy something, many parents have to pay rent for housework for the next five years.
Parents can take care of other family members just by taking some time off, says Johnson-Pellebois, who now goes on to work as a financial aid counselor.
But a year of taking time off is just getting started. Some have found it hard to keep up
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