Jan 6, 2009 5:59 pm US/Central
Tough Economic Times Hit Students Hard
CHICAGO (CBS) ―
With just a few months away from the beginning of college graduation season, things are looking grim. Tuesday, Mayor Daley warned the next three months will probably be especially difficult.
"The sad thing is when the college students think they're gonna get jobs, I think they're greatly mistaken. This summer's gonna be a very difficult summer for any college graduate or graduate student getting jobs in America," Daley said.
Tough economic times are also hitting home for high school seniors.
As CBS 2's Kristyn Hartman learned, those early indicators show there could be fierce competition for financial aid dollars this year.
The CEO of Student Financial Aid Services says there's been a 40 percent increase in the number of families seeking assistance compared with last year and that's just in the first five days of the new aid season.
The realities of 2009 seem to worry some students.
A simple in class quiz is nothing compared to future pressures.
After filing those college applications, high school seniors face two questions: Where do I ultimately want to go and how will I pay for it?
A large number of students are fearful due largely in part to the economic downturn.
Kelly High's college and career coach Nadia Flores says her students are very aware of financial limitations.
"It worries me a lot because I come from a low income family," Kelly High Senior Eridany Sotelo said.
Tough economic times mean students like Sotelo may delay the four year university and begin at a junior college.
The American Association of Community Colleges reports an eight to 10 percent increase in enrollment partly tied to affordability.
According to Associate Provost of St. Xavier University Dale Fast, another trend shows students applying to more places with them looking more carefully at what financial aid they're offered.
Dale calls it "casting a wide net."
He says colleagues across the country tell him applications are up and compared to last year at this time, his campus has admitted twice as many freshmen.
Many of them are concerned about cost so St.Xavier is trying to reallocate money to get aid to the prospective students who really need it.
It's the kind of cash counselors tell their kids to fight for.
"When students receive their reward letter from federal financial aid department, they can appeal and can continue to ask for more money," Flores said.
Aggressively going after scholarships doesn't hurt either. It's part of Jasmine Cubias' game plan.
"If I do get enough, hopefully I can go to the U of C," Cubias said.
(© MMIX, CBS Broadcasting Inc. All Rights Reserved.)
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