There are huge problems one is facing today due to recession. Every thing has turned into a slow process and the global economic slowdown has halted any kind of growth. Everyone has been affected by in some way or the other. The sphere of education has not been spared either and the whole phenomenon known as scholarship has come crashing down.
It was considered lucky to get hold of a scholarship. Scholarships were being given out in abundance before but the sudden downfall of the economy has brought this practice to a standstill. The grants given to students are becoming less and less. This happening because the investments companies who were investing in colleges and universities, have now backed out due to lack of funds. Even non-profit organizations are cutting down on the number of grants they give students each year. Plus getting an admission is much tougher now. Because of the lack of funds, the colleges have tightened their criteria and made it more difficult for students to get an admit. This is a bit shocking and students who were really looking forward to start college are now struggling.
There are other issues too. like colleges are accepting those students who can afford to pay the whole fees and only a very few of them who need college aid. There are not many institutions which are lending money now and getting a students loan from a bank too is difficult. Plus everyone cannot afford to take a loan. Loans come with interests and given the situation, the interest rates are really high. Paying back every penny will take ages. One could spend their entire life doing so. Hence scholarships were an attractive options for students.
There are other cut downs too. Like students wont get free HBO and ESPN channels in their dorms. You will have to pay for it. trash will be taken out twice a week instead of one. No telephones in each room etc. They say the problems will increase in the coming year. This is because even the grants given by the state are dwindling and there are massive cuts in the amount of money offered to colleges.
Higher education is a great thing. But it was always expensive. It will be difficult to accept the situation because just last year things seemed to be alright and now things have gone awry. This is not permanent though. It will be ok in sometime but we will have to put up with it as we have no other option. But we need to brace ourselves and do whatever we can. Education will not stop entirely only it will become difficult.
Some people who were looking forward to it this year, may have to try for it the next year and then on. Recession is temporary but it will stay for a while. Although the government is taking all possible measures to cure us of this problem, it will be a slow process. So brace yourself!