The revelation by a survey of Ohio State University students that 70% of them were stressed about finances was a surprise to many people. As opposed to the popular belief, the sad truth remains that the students are more stressed about their finances than they are by their coursework and exams. But why is finance one of the main reasons for students’ stress?

Academic Performance

The financial demand of college life is overwhelming to most students. The concentration on their academics is not optimal when stressed about finances. As a result, some of them neglect their school work. Some do focus on part-time jobs at the expense of pursuing academic excellence. The end result is a dwindling performance and with it the vicious cycle of student stress which is a cause of depression suicidal thoughts, suicide and drug abuse.

Health Impact

As the students struggle to raise money for their day to day expenses, part-time jobs become the norm. Some are forced to work at night and overtime which puts their physical health at risk. They may not be able to also afford healthy foods and either go hungry or end up eating cheaper unhealthy foods. The resultant physical stress on their body coupled with insomnia due to stress quickly grows out of control.

The students may not have time to engage in healthy activities like resting, playing and exercise that is essential which further worsen their already stressed state.

Psychological Wellbeing

An interaction with students will reveal how empty and sad their lives feel. As they face the financial problems on a daily basis from raising tuition fees to affording meals and accommodation, the stress levels rise. The satisfaction and the joy of being college students being primed for their dream jobs soon fade into the sad reality of how college life is financially demanding. It is for this reason that cases of suicide are rising. Students resort to unethical behavior as a way of coping with their life.

A Better Lifestyle

Students are at a stage where self-actualization is key. They want to be happy and live the good life. They are at a stage where they need to party, have fun, travel and do a lot of things that make them feel alive. Most of them want to drive around campus as their peers do. However, their finances cannot allow them and that leaves them stressed. They feel left out of the good things in life. All they want is a breakthrough in their life but that often never comes and the end result is a frustrated life.

Student Debt

Most students are only able to afford their tuition costs through student loans. However, the rising student debt weighs heavily on their necks and combined with the general trend of job scarcity, it escalates their stress.

Controlling Student Finance Stress

Several things have been suggested to help college students cope with the financial demand:

–Doing a part-time job
–Budgeting expenses and sticking to the budget
–Developing a habit of saving
–Living within one’s means

The reality is that the college life is financially-demanding and many students are suffering from the resultant stress. There is a need for intervention to help curb the situation by both stakeholders and students themselves before it gets worse.