My financial path has been challenging as a first-generation student with a low income. I can say that I am comfortable with my background because it has shaped who I am today, but students that have a similar narrative to mine might not feel the same way.
Incoming students will encounter friends from varied backgrounds, particularly in terms of finances, on a campus as diverse as UT. The issue is that low-income students can experience financial instability at some point during their time in college.
It is becoming more difficult for students to bridge the gap between education and living expenses, even though the majority of low-income students receive Pell Grants and other financial aid.
Derrick Licon, a junior studying journalism, said, “I was applying for the FAFSA (again), and seeing just how (many) loans I actually had was an eye opener.” Everything else, including studying for school or maintaining your social media presence, seems really overwhelming, particularly if you have to work in addition to your studies. It seems like all you’re doing is working to pay your bills.
Approximately 80% of first-generation college students reported financial difficulties, according to a 2023 research. Sixty-eight percent of first-generation individuals experienced insecurity related to basic necessities like food and housing.
A senior studying exercise science and public health, Isaiah Santoya comes from a low-income family and is the first person in his family to go to college.
Financial instability, according to Santoya, is the inability to make ends meet, which he has personally experienced. This incident has frequently prevented him from appreciating his time as a college student.
According to Santoya, there are instances when I choose not to go out with my friends because I lack the money or simply don’t want to (pay/spend more money/etc.). I have other expenses that require the money, such as rent and other payments.
Due to high levels of stress and peer apathy, financial uncertainty might result in mental health issues like major depressive disorder or generalized anxiety disorder. Prioritizing money over education can result in educational issues for the individual. Santoya shares his viewpoint with kids that deal with similar issues.
According to Santoya, always focus on the bright side of life and remember that this is only a phase. Don’t let other people’s actions make you feel awful; this will pass.
Licon gives his own counsel.
According to Licon, be extremely selective about what you truly need and don’t need. We frequently find it simple to persuade ourselves that we need something when in fact we don’t.
UT offers a wealth of options to assist students who struggle with financial instability.Free food and a range of clothing for job fairs, interviews, and internships are available at UT Outpost, an on-campus food pantry and closet. The Financial Wellness Resource Center provides a variety of resources to assist students in receiving financial stability counseling.
I have endured hardships that many students go through, going from struggling to feeling secure. I have worked long hours and foregone meals in order to make ends meet, but I have persevered through the difficulties because I have learnt an important lesson about separating happiness from money.
Financial uncertainty is difficult, but it is manageable, regardless of your level of experience. Make the most of this stage of your life by using it as inspiration to reach your full potential.
Estrella, a Corpus Christi, Texas native, is a junior studying English.
