MENTALHEALTH
4
Making cents of it all
Hayden Carroll
Texas A&M met 67% of its students’ financial aid need, according to U.S. News Best Colleges ranking. The average total college debt of a 2020 graduate is estimated to be $24,621.
Students navigate financial problems, mental strain from balancing costs By Ronnie Mata and Brandon Miller The trials and tribulations of college are plentiful. Of all the stressors that negatively affect mental health, it really is all about the money. As students complete their degrees, financial responsibilities change. Financial obligations continue to evolve with each stage of life, contributing more stress to interpersonal relationships. Being able to cope with them is paramount. Like most things, how finances make people feel can be traced to their upbringing. How someone approaches finances is heavily influenced by the spending behaviors that have defined their life. Money is heavily tied to a person’s emotional and mental state, said Dr. Mary Covey, Ph.D. and director of Counseling and Psychological Services at Texas A&M. “People will say that it’s a necessity to have a phone, it’s a necessity to have cable TV,”
Covey said. “And then, you’ll have other people for whom it will really vary based on their values and what they’ve been exposed to and how much they’ve been really given.” Covey has been the director of CAPS since 2018. She sees first-hand the learning curve of early adulthood as a common cause of financial stress. She notes there is a stark difference between the financial responsibilities of college students and high school students. “People are so excited in high school to work for minimum wage,” Covey said. “And then you realize in college ‘Wow. This is not going to support me; this isn’t what I need.’ So there [is] a huge reality check about money.” Sociology senior and Bonfire chief Jett Reinhardt said he has had to carefully consider his finances when choosing where his next meal would come from. “I’d often weigh the enjoyment of a meal from somewhere like Panda [Express] versus my ability not to starve the rest of the week and live off my ramen,” Reinhardt said. “It was rough, and I had to turn down a lot of invitations to hang and go out because I just couldn’t afford it.” Carlton Orange, a finance graduate from
A&M, agreed that college often pulls students apart in various directions and said he believes that money can often be the worst offender. “Students now kind of have two separate lives,” Orange said. “Their work life, which includes school, sports, etc., and their social life, which includes hanging out with friends, and relationships with others. The problem starts when students let the stress of their daily responsibilities from their work-life spill over into their social life.” When Reinhardt was a Bonfire chief in 2020, he noticed a rift with his peers caused by his financial shortcomings. After long days and nights at the stack, breakfast or dinner would cost too much to eat out. “I was criticized by past leadership for wanting to go home and not stay with the crew,” Reinhardt said. “In actuality, I just didn’t want to sit at the table surrounded by friends eating when I myself couldn’t afford a meal.” Apart from social spending, most students also worry about paying for their education. Three of the five most common stressors among college students are finance-related – repaying loans, the cost of tuition, and bor-
rowing money for college – according to inceptia.org. The nonprofit works with schools and loan holders to understand financial information.
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The problem starts when students let the stress of their daily responsibilities from their work-life spill over into their social life.” Carlton Orange, A&M finance graduate
Junior microbiology major Aldair Monsivais grew up in Humble, and said he recalls growing up with a warm sense of community and understanding from his neighbors and peers in a place where financial hardships were not a rarity. Though Monsivais’ grades made
