Back to School: Students worrying about both grades and money

There’s enough pressure for students to do well in school – impressing parents, keeping a good reputation, earning and keeping scholarships, getting a competitive job, and more.

But a new study made it clear that academics and marks aren’t the only major worry for those of us in school: it’s also money. Students are “worried about making money and the impact that has on their school performance”.

A new poll by RBC said that 79% of post-secondary students say they plan to work part-time while in school. Almost half (43%) of those say they need to work to pay the bills. About the same number, 77%, are concerned that working while in school will affect their grades.

Of course the advice is to budget time and money. As if it’s not enough to focus on doing well enough to stay in school, there is such financial pressure with the recent economy and lack of jobs for youth.

An article from News Canada states: “Making smart spending decisions is obvious. For the sake of their grades, students also need to spend their time wisely, Joshi says, between work, classes, studying, and down time. Students also must realize that a heavy course load might require more work (or debt) to pay for it, and more time to keep up with it.”

I’ve noticed both RBC Royal Bank and TD Canada Trust with full websites and campaigns designed specifically for students. While “Do you have enough money to last the school year?” is a pretty decent question that we need to think about, things like Student Budget Checklists and other quizzes on Facebook Apps such seem more like a client-seeking marketing oppourtunities for financial institutions than worthwhile student financial relief (one reason why haven’t linked to any or posted any of their tools here).

Congrats to everyone who’s fortunate enough to a) be getting any kind of education and b) is attending a post-secondary institution, period. Have a look at the State of Higher Education in the World Today.

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