Photo courtesy: Kynadi Harris
Before the pandemic, you could possibly fill your gas tank with $20 to $25. Now, two years after
the onset of the pandemic, $25 will maybe get you half a tank.
Economists say that this is due to inflation. There are numerous explanations for this, but a
simple one would be inflation. And while the nation is going through this together, many
college students are feeling the effects of inflation.
Between transportation, housing, food and other essential needs, students are scrambling to
find the funds to help them live their daily lives.
Kazion Gibson, a fourth-year social work major at FAMU form Jacksonville, has had to make
sacrifices. She’s not sure if she can afford to visit her family for weekends or holidays.
“Last semester, I wasn’t able to go home that often due to the price of gas being almost $5,”
Gibson said. “I had to make sacrifices between filling my tank and driving two hours to making
sure I had enough money to buy groceries.”
Students aren’t the only ones making sacrifices due to inflation. According to Bestcolleges , the
price of college is also rising. This increase includes colleges paying more for labor, food, energy
and other utilities.
While the minimum wage in Florida is $10, Aniyah Calderon, a fourth-year criminal justice
major from New York, is trying to adjust to the drop from her usual $15 per hour to $10.
“This has been one of the most expensive semesters that I’ve ever had,” Calderon said. “I want
to get a job but $10 is not enough to pay for college and be able to live as a college student at
the same time.”
Because many colleges are charging more, students are feeling this effect in rising meal plans
and on-campus housing. Onlineu , a research page for college students, explains that because of
the inflationary economy, students are taking out more loans, which is putting some students
at risk of going in debt.
Economists believe that the interest rate for the 2022-2023 school year has already risen from
last year’s 3.73% to 4.99%.
The interest is only getting higher, especially for out-of-state students. Hope Harris, a fourth-
year biology student from Brooklyn, New York, is already worried about student debt.
“Taking out loans is already a touchy subject,” Harris said. “Because I’m out-of-state, its more
expensive so more loans are being taken out just for me to be in debt before I even think about
grad school.”
While this year has been full of rising and falling prices, economists see this not lasting that
much longer for the country. According to Kiplinger inflation forecast , inflation will drop from
the 9.1% rate in June to 3%-4% by the end of the next year.