Money: you don't need green to be Old Blue

We're all familiar with this rationalization: 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.

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

Students at Yale receive many kinds of financial aid packages. There are some whose entire package consists of a small Stafford Loan. Then there are students who must worry about 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 may be, 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 to maintain a normal life 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. I have found that working part-time does not mean giving up a well-balanced life. It does, however, mean learning to set priorities and to manage time.

It's true that I don't have as much free time for extra-curricular activities as some students do, but it's not as if I don't have any time for them at all. Having a job is like having one activity automatically built into my schedule. I have still found time to experiment with other activities and to enjoy the things I love. I have also still found time to go out with my friends at night, even if I do have to 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 along with having a well-rounded schedule. Learning to manage time efficiently is key—it's a skill that everyone has to acquire once they get here. Many new students worry that they will incur too much debt over four years. This is certainly a valid concern, but a Yale degree can really help one find a high-paying job later in life.

There is something gritty about having to pay your own way. It shows dedication and hard work, qualities that all employers look for. I realize that I am running a risk by taking out the number of loans that I have, but it's a chance that I have to take. I need 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; 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 the sacrifices I have made to stay here.

Graphic by Sara Edward-Corbett.

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