College debt continues to grow every year alongside dependency on aid

 

Douglass Gavilan/Staff writer

 

Studying for her doctorate’s degree, Sharlia Gulley says the hardest part of having student loans is knowing she’ll never be able to pay it off — and she believes the University is partially to blame.

Even with financial aid, Gulley said she still has to pay for living expenses, transportation and food and there was no other way to close that gap.

University students are graduating with a higher debt rate than previous years, according U.S. News. Back in 2014, the average student from the class of 2013 graduated with $17,893 in debt. Now in 2016, the class of 2015 students graduated with $18,918, a six percent increase in debt.

“Since the summer before coming into college, [I had debt]” said Daniela Lozano, sophomore psychology major. “It … happened because I need[ed] somewhere to stay.”

In 2014, the University was ranked No. 13 among institutions whose students graduate with the least debt loan. In 2016, the University is at No. 68 in overall student loan debt ranking, according to LendEDU.

Forty-eight percent of FIU students from the class of 2015 graduated with debt.

“It started when I first transferred here,” said Mauris Darken, junior advertising major. “It’s definitely more expensive than Miami-Dade College. The University is trying to look more flashy … Add buildings and paintings that don’t really help students when they should be investing in more teachers.”

For some students, getting a loan is the only way to afford a college education and everything that comes along with it.

Loans can also have an effect on students’ mental health. In a national survey, 70 percent of students suffered from stress due to their loans, according to The Ohio State University. From that group, 32 percent said their school work was also affected.

“[It’s hard] trying to save up for“I just have to deal with it. I have to try to find a way around it by investing the little money I  other ambitions I have,” said Brandi Spires, senior English major. “Just last week, I had to give my whole paycheck to the school so my classes wouldn’t be dropped.”

Many students feel they are limited in their opportunities and have few financial options.

have,” said Darken.

For students facing financial aid issues, contact the Student Academic Success Center at the Modesto Maidique Campus or the Academic Center 1 located at The Biscayne Bay Campus.