A recent study conducted by market research company Ipsos MORI shows college students are spending more time working than studying to help pay for tuition costs.
According to the survey, students spend on average of “4.2 hours a day working paid jobs, which is more than double the time they spend in the library, nearly two hours more than they spend in class and 1.4 hours more time than they spend studying at home.”
Founded in 2005 and based in the United Kingdom, Ispos MORI conducts market research and surveys for a wide range of organizations.
Senior Sam Morstain said he typically works shifts over four hours, which occasionally interferes with his study time.
“It’s really tough working long shifts in college,” Morstain said. “Last semester, when I worked in the Brew on Tuesdays and Thursdays, I would work 11 a.m. to 3 p.m. Some campus jobs are okay because you can do homework while you do them, but the Brew and most other jobs aren’t like that. So, because of work, a lot of your day that could be dedicated to schoolwork and studying is gone.”
According to Morstain, extracurricular activities and the college experience are often affected by having a job as well.
“I don’t find myself taking out study time so much this semester because my classes are really easy,” Morstain said. “The biggest thing for me is I don’t necessarily feel that I’m missing out on studying. I feel I miss out on a lot of other things people who don’t work jobs get to go experience. For instance, homecoming is coming up, and I’ve never been able to go to the homecoming parade or [Delta Gamma Sigma’s] alumni breakfast because I’ve had to work Saturday mornings. So really, the big thing I miss out on is not the studying but more the experiences.”
The study also showed females are 28 percent more likely to be stressed by financial concerns than their male classmates.
Freshman London McLean said she tries to stay on top of her spending so money does not become an issue.
“I do get stressed if I get low, but I’m good enough with money to where I won’t let it get below a certain point,” McLean said. “But I can see where girls can be more stressed than guys. With all the added expenses we have that guys don’t, if they’re having to pay for school on top of that, it’s just more stress being added on.”
Student loan debt has become the second largest category of household debt, getting up to $1.4 trillion, and 40 percent of millennial debt is made up of student loans. According to the study, student loan debt is not only affecting students but parents as well. The study showed 3 in 4 American parents rely on their daily income to support their child’s education, and less than 25 percent of parents have savings specific to funding their child’s education.
“The fundamental issue is that families and students don’t have a realistic knowledge of the actual cost of an education in advance,” founder and CEO of Invite Education John Hupalo said. “Despite these statistics, many students are actually handling these responsibilities well and for some, taking on a bit more paid work could actually reduce their financial burden.”
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