Financial Pressure and Stress; College student’s Reason for Dropping Out
Although taking care of college student’s mental health and their financial burden has been a hot topic in the recent years, it still hasn’t been solved and has been exacerbated by the pandemic. The pandemic actually helped the public realize the detrimental effects of having poor mental health, with 46 percent of Americans reporting having poor mental health during the peak of the pandemic and the lockdowns. The awareness for people to take care of their own mental health is not a social norm.
Financial issues have always been on the forefront of education costs in the US. With wages staying the same but college and university costs climbing year by year, its not the hard to see why 38% of college dropouts dropped out due to financial shortcomings. Yes, there are student loans and financial aid programs, but in the end, an average student pays around $10,675 per year. Coming from poor families or no support from their families result in students taking out a student loan. Student loans are a widely debated topic, but the benefits of a student loan are questionable. Knowing you have a loan is also one of the reasons of financial stress for college students.
Even though the reason for dropping out because of mental health is only three percent, poor social fit is also considered a strong reason for mental stress. Especially after the pandemic, where tensions are higher because of political discussion on masks and vaccines, colleges have become more hostile. And after so many lockdowns are lack of social contact, going back to when things are normal has been difficult. That is why colleges are starting programs to combat mental stress with free therapy and recreational programs.
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