Inflation has been one of the most highly discussed issues throughout the world recently, especially in the United States. All US citizens have been somewhat affected by inflation.
Inflation, defined as “the rate at which prices rise over time,” has caused rising food prices as well as high gas prices in the United States. While inflation has affected everyone, there is one group that often gets ignored. This group would be college students, who regularly do not have a steady stream of income. At my university, Neumann University, students have expressed how much it has affected their day-to-day lives. Anthony Hando, a senior, did not anticipate how much rising fuel costs would truly affect his budget. He stated, "Inflation has caused the cost of transportation to skyrocket. I did not realize just how different the cost of goods would be because of inflation. "
While inflation was at its highest point in the summer months, it has not stopped yet, giving no relief to vulnerable groups, especially college students. In my experience, inflation has affected my friends and me in the Chiara Honors House, so much that students do not take a large meal plan, due to the availability of kitchens and ovens. Most of the students get food from grocery stores, which have continued to be forced to raise their prices to meet the demands of both the supply chain and of inflation. Not to mention, many students that I live with also have jobs off campus, which can become quite costly when you factor in the price of gas, or for transportation services.
The price of gas has gone down in recent months, and this reduction has offered some relief to citizens regarding transportation costs. It still has not gone back to its pre-pandemic levels. Inflation rose 0.1% in August (Cox 2022), which surprised many people, even in the White House. Inflation is here to stay for now. Current policies and procedures from our government seem to offer little to no relief to college students struggling with rising prices on many items.
Why is this so important, especially to Neumann students (99% of Neumann students receive some form of financial aid) (Neumann)? Many students are already taking a huge financial load by going to Neumann. This financial burden is exacerbated by rising gas and food prices. College can be a full-time job, and it is extremely hard to do school and have a job on the side. But for many students, this is an unfortunate reality. Inflation is not helping college students' already stressful financial situations. If anything, inflation is making it even worse.
Inflation is a huge issue, especially for vulnerable groups with limited amounts of income, such as college students and the elderly. College students have often been ignored regarding governmental policy and inflation assistance. Many students at my university have struggled with these price increases on things such as gas and food. In my opinion, inflation seems to be coming to a rising halt, but it may take years to replenish the effects it had on vulnerable communities and populations.
Sources
Cox , Jeff. “Inflation Rose 0.1% in August Even with Sharp Drop in Gas Prices.” CNBC, CNBC, 13 Sept. 2022, https://www.cnbc.com/2022/09/13/inflation-rose-0point1percent-in-august-even-with-sharp-drop-in-gas-prices.html.
University, Neumann. Neumann University, https://www.neumann.edu/.