Spring Break
Economy impacts students
Omkar Baxi
Issue date: 10/3/08 Section: News
"A trend that we have seen in almost all economic downturns is that when the market goes down, students decide to pursue higher degrees. They perceive greater competition in the job market and think that attaining a higher degree will help them succeed in the job search, so graduate school admissions typically rise in an economic downturn," Madan said.
However, students pursuing higher education, both undergraduate and graduate, have a harder time securing loans in a bad market, according to Madan.
"Students, and anyone with a low credit history, will have a harder time borrowing money, whether it is for a college education or a first house," Nelling said. "Banks are simply not as willing to give out loans when the market is bad."
In an address to the Senate prior to the voting for the "bailout" bill, Democratic presidential nominee Barack Obama cited the credit freeze as a major reason why the government should intervene in the economy, since it directly affects the average citizen.
"If we do not act, it will be harder for Americans to get a mortgage for their home or the loans they need to buy a car or send their children to college," Obama said.
"There is a silver lining to this situation, though. Most people wait too long to start investing in the markets, but students need to realize that people no longer work in one company for 40 years. They need to make their own financial and investment decisions. And this downturn in the economy is a great time to start investing since they will enter the market when it is low and probably profit from it," Nelling said.
The window for investing at the current, cheap prices will close soon, according to Nelling, since the government is expected to intervene and stabilize the economy. The "bailout" plan recently shot down in the House of Representatives proposed that the government should acquire the bad assets that have caused the economic downturn, thereby injecting the markets with more confidence and motivating banks to start lending again.
However, students pursuing higher education, both undergraduate and graduate, have a harder time securing loans in a bad market, according to Madan.
"Students, and anyone with a low credit history, will have a harder time borrowing money, whether it is for a college education or a first house," Nelling said. "Banks are simply not as willing to give out loans when the market is bad."
In an address to the Senate prior to the voting for the "bailout" bill, Democratic presidential nominee Barack Obama cited the credit freeze as a major reason why the government should intervene in the economy, since it directly affects the average citizen.
"If we do not act, it will be harder for Americans to get a mortgage for their home or the loans they need to buy a car or send their children to college," Obama said.
"There is a silver lining to this situation, though. Most people wait too long to start investing in the markets, but students need to realize that people no longer work in one company for 40 years. They need to make their own financial and investment decisions. And this downturn in the economy is a great time to start investing since they will enter the market when it is low and probably profit from it," Nelling said.
The window for investing at the current, cheap prices will close soon, according to Nelling, since the government is expected to intervene and stabilize the economy. The "bailout" plan recently shot down in the House of Representatives proposed that the government should acquire the bad assets that have caused the economic downturn, thereby injecting the markets with more confidence and motivating banks to start lending again.
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Payday Loan Advocate
posted 10/24/08 @ 1:05 AM EST
On Wednesday, October 14, 2008, the third and final U.S. Presidential Debate took place in Hempstead, New York. Illinois Senator Barack Obama came into the debate with an eight-point lead, according to an average of national polls as compiled by CNN. (Continued…)
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