The end of the fall semester is fast approaching. With it, comes an onslaught of deadlines. Preparing for finals can be stressful for any UMaine student, but especially those balancing academics and work. According to the U.S. Bureau of Labor Statistics, around 44% of all college students are employed, with about 40% of full-time students and 78% of part-time students engaging in some form of work.
In general, students are expected to study two to three hours per credit hour in which they are enrolled. Thus, a part-time student would likely spend a maximum of 36 hours per week on school-related activities, and a full-time student could spend up to 54 hours per week, on average. There are 168 hours per week, and approximately 42 of those are spent sleeping. For unemployed students, this leaves about 72 to 93 hours of free time per week. However, it is another story for employed students.
According to the National Center for Education Statistics, it is most common for students with jobs to work 20 to 34 hours per week. For a full-time student, that means committing to 130 hours of work and school per week, which leaves 38 hours for meals, hygiene, transportation, social interaction, extracurricular activities and personal activities.
Many students who choose to work do so to combat rising costs, pay rent or pay back student loans. The U.S. Bureau of Labor Statistics puts the current inflation rate at 2.6%, which is lower than last year but still higher than the national goal. For college students working on minimum wage, this is a difficult situation to navigate.
Some students also have to contend with housing prices and rent payments, which are steadily increasing. Orono’s average cost of rent is around $1,950 based on a Zillow estimate. With the state minimum wage currently being set at $14.15 per hour and students working around 25 hours per week, they would make around $1,415 per month- not enough to cover rent. The cost of living is only expected to rise from here.
According to Urban Institute, “30 to 40 percent of all undergraduate students take federal student loans; 70 percent of students who receive a bachelor’s degree have education debt by the time they graduate.”
College students in Maine have an average of $33,845 in student loan debt, with almost $30,000 having been accrued during their time at school, says the Education Data Initiative. It can sometimes take almost 20 years for a student to pay back their loans, and it often takes even longer.
One student, who wished to remain anonymous, offered his take on employment and the cost of living.
“Thankfully, my scholarships cover most of my rent, but I do feel a lot of pressure as far as affording groceries and other essentials like gas. It feels like I can never work quite enough to build savings. Loan repayments do stress me out as well, but I have them worked into the budget,” the student said.
He added that school is his priority, but that he has sacrificed a lot of his social life to be able to balance good grades with work.
If you need help paying for school, Scholarship Universe is a good place to start. You can also contact UMaine’s Student Financial Aid office for more information.
