College has long been seen as an essential component in achieving success. However, it’s beginning to feel more like a pressure cooker than a springboard for an increasing number of kids.
Recent surveys show that one in three American students is really thinking about dropping out of school.
This isn’t because they don’t care, but rather because they’re overburdened, anxious, and burned out (“like butter spread over too much bread”).
The focus is on budget and mental health
According to a recent Gallup-Lumina Foundation survey, the main causes of college dropouts among students are emotional stress and mental health issues. More frequently than poor grades or even financial difficulties, anxiety, burnout, and despair are manifesting.
Even though the majority of schools now provide counseling, the need for the service is much greater than the supply. Students are currently waiting weeks or even months to receive the assistance they require.
It’s challenging to concentrate on finals when your wage hardly covers groceries, rent is due, and books are expensive. Financial stress has prompted over 60% of students to consider dropping out. And who is to blame?
Some are pursuing full-time studies while working long hours. Some people are subsisting on loans they don’t completely comprehend. And leaving seems like the only choice when everything looks unsustainable.
Take a moment before borrowing
Let’s be honest here: don’t take out a loan because someone claims you “must” in order to finish college. Particularly not a PLUS loan that your parents cannot afford to cosign or a private loan with exorbitant interest rates.
Student loan debt might ambush you. It may begin as a few thousand dollars, but as fees and interest mount, it may become so large that you are still making payments in your forties.
To borrow properly, you must first ask yourself, “Do I need this money right now?” Is it possible for me to work part-time and take fewer classes this semester? Is there a less expensive choice?
If you don’t stick to the four-year plan, you may feel behind, but in 10 years, when you’re not drowning in debt, you won’t feel behind.
One option is to pursue a four-year degree. It’s not the only option, though. Think about taking a year off to work and save money if you’re feeling overburdened.
Although they may not be glamorous, full-time employment in retail, food service, or warehousing pay well, and some even cover tuition. Amazon, Starbucks, Target, and Chipotle all provide their employees with educational benefits.
Another wise choice is community college. It can result in a transfer or a successful career on its own and costs a small portion of what universities charge. Or look into apprenticeships and trade schools; technicians, mechanics, and electricians frequently make more money than recent graduates without a ton of debt.
Not to be overlooked are online certifications. Project management, IT support, and coding courses can be finished in months rather than years.
Widely recognized certifications like Google and Coursera frequently lead to entry-level positions in rapidly expanding areas.
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Giving up does not equate to dropping out
Suppose you do choose to leave for the time being. It’s alright. Really. Sometimes the best course of action is to take a step back. It allows you to work, reorganize, and determine what you truly want to do and how you want to finance it.
Many people drop out of school, get a job, then return a few years later with more clarity and financial stability.
There will still be college. Just because you take a break doesn’t mean that you lose your potential or intelligence.
Read Also: Student Loan Changes Take Effect Today — Some Borrowers Won’t Be Affected
If your parents, friends, or advisors want you to persevere, it’s easy to become overwhelmed by the pressure to keep trying.
However, your financial security and mental well-being are not incidental; rather, they serve as the cornerstone for all other matters. No degree is worth putting your health at risk for.
There are other paths to success, and they don’t all need to be filled with debt and worry. Your worth is not determined by a piece of paper, regardless of how long it takes you to complete your degree—four years, 10, or never.
