Money: you don't need green to be old blue

MELANIE SCHOENBERG

By Liz Schroeder

It's a rationalization with which we are all familiar: it's okay to spend a ridiculous amount of money on your college education. Tuition is an investment in your future, and the salary your Ivy League degree may help you snag will make your loans seem insignificant. I've thought about it, and I've been told it's true by friends, parents, and my high school guidance counselor. While my Yale degree may not guarantee me a high-paying job right after graduation, its value will eventually exceed my current loans.

As anyone who has to worry about funding an education knows, money is a critical issue when it comes to select a college. It's hard to know what to do when your safety school offers you much more help than your first choice does. How do you weigh financial security and a good education against one another?

Students at Yale receive many various kinds of financial aid packages. There are some whose entire package consists of a small Stafford Loan. Then, there are students who must balance 15 hours of work each week and $20,000 in loans each year in order to supplement a Yale scholarship. No matter what your situation, receiving financial aid affects your experience at Yale.

For incoming freshmen who need to work part-time, the biggest worry is often figuring out how they will be able to maintain normal lives while juggling demanding classes and part-time jobs at the same time. Yale is very demanding academically, but it is important to participate in activities and to have a healthy social life as well. This is a lot to balance, and adding a job to the mix can make for a very hectic life. I have found, however, that working part-time does not mean giving up a well-balanced life. It does mean learning to set priorities and to manage time.

It's true that I don't have as much free time for extracurriculars as some people do, but it is not true that I don't have any time for them at all. Having a job is like having one activity automatically built into my schedule, one thing I am sure that I have to do. I have still found time to experiment with other activities, to try things out, and to enjoy the things I love. I have still found time to go out with my friends at night, even if I do lose a couple of hours of work in the afternoon. And while it has been difficult at times to get all my homework done, I feel that this comes with having a full life. Learning to manage time efficiently is key, but it's a skill that everyone has to improve once they get here.

Many incoming students worry they will incur too much debt over four years. This is a valid concern, but a Yale degree can help one find a high-paying job later in life, and while this isn't a priority for everyone, it is something to consider when contemplating student loans.

There is something gritty about having to pay your own way. It shows dedication and hard work, qualities that all employers look for. Combined with an excellent education, such expertise will make it much easier to pay off a large debt. I realize I am running a risk by taking out the number of loans that I have, but it's a risk that I have to take. I have to make the most of the opportunities that I have and I can't let my financial situation stop me from achieving everything I can in life and at Yale.

I believe that Yale is worth all the sacrifices I've had to make. In high school, many of us had to make similar concessions to do well, studying and working while other people were having fun; nevertheless, we thought it was worth it. Just as I have never regretted making sacrifices to do well in high school, I know I will never regret sacrificing what I have to stay here.

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