College life often comes with a complex mix of academic expectations, personal growth, and community experiences. But beneath the textbooks and class schedules, many students are quietly shouldering another burden: the rising cost of living. Decisions about daily expenses, transportation, and tuition payments often become part of the college routine, shaping choices and challenging students’ ability to concentrate, rest, and plan for the future.
At Mercy University, these pressures are part of everyday life for many undergraduates. Students balance not only academic responsibilities but also financial obligations that can feel persistent and overwhelming. The toll is both practical and emotional, influencing how they study, work, and approach their future goals.
Mercy commuter student Bekah Ardolino who is a junior, said she has noticed her daily and monthly expenses increasing this semester. “Yes, absolutely,” she said. For Ardolino, the most immediate strain comes from gas money, which adds a weekly burden on top of everything else. Careful planning has become necessary just to cover travel to and from campus. Though she benefits from financial aid, Ardolino said more scholarships or loan support would help ease the strain for students dealing with similar pressures.
Freshman Kevin Cajamarca is also feeling the impact of rising college costs. For him, the challenge is not only tuition but also required semester deposits. “I have to plan every semester to make sure I can cover everything on time,” he said. The need to budget for these large payments alongside everyday essentials makes financial planning a constant concern.
Senior Ronald Chenet described a similar struggle, noting that while his day-to-day spending has not increased significantly this semester, the long-term worry about tuition and debt remains. “It’s always on your mind,” Chenet said. “Even if you can cover your bills now, the weight of debt is something you carry every semester.”
These student experiences reflect broader national trends. Data collected for the 2023–24 academic year show that the average total cost of attendance at a four-year institution, including tuition, fees, housing, and food, reached approximately $33,730 (Bold.org). This amount represents a dramatic increase over time, with the total cost of college rising more than 160 percent since 2001 (Bold.org). Around 71 percent of undergraduates receive some form of aid, yet many still find themselves covering significant expenses out of pocket.
The financial pressures on students extend into their academic lives. National research indicates that nearly three-quarters of students experience financial difficulty while enrolled, and more than half would struggle to find $500 in an emergency without financial support or savings, said InsideHigherEd. Many report difficulty concentrating on their academics due to these financial concerns.
These challenges are not isolated to surface-level stress. Research on student mental health shows that financial stress is closely tied to emotional wellbeing. In studies of college populations, many students report feeling overwhelmed by the combination of academic pressure and financial insecurity, and these stressors can affect concentration, motivation, and overall academic engagement.
Students respond to these pressures in varied ways. Ardolino said she carefully tracks her commuting costs and uses financial planning tools to stay organized. Cajamarca said he relies on loans when necessary, balancing the immediate need to pay tuition with his long-term financial outlook. Yet even these strategies can feel mentally taxing.
The reality of balancing education and finances affects daily decision-making. For some students, basic routines shift to accommodate tighter budgets. Meal planning becomes more strategic, discretionary spending is minimized, and social activities are often reconsidered due to cost concerns. These adjustments, while practical, can also influence students’ sense of belonging and wellbeing.
Financial aid programs at Mercy University offer crucial support. Scholarships, grants, and one-on-one advising provide students with information about available resources and help them navigate complex processes. However, gaps remain. Nationally, only about 50 percent of eligible students complete the Free Application for Federal Student Aid, a key step in accessing federal support (FAFSA.gov). Students who miss this step may not receive all the grants and loans they might otherwise qualify for, leaving critical funds unused.
Federal Pell Grants, a cornerstone of financial assistance for low- and moderate-income students, provide a maximum award that helps defray costs but does not fully cover tuition and living expenses for most students, said FAFSA.gov. Even when Pell Grants and other aid are combined, students still face significant out-of-pocket costs that they must cover through work, savings, or borrowing.
For many students, employment is part of the solution. Part-time jobs are common among college populations, helping to cover living expenses and reduce reliance on loans. Balancing work and academics adds another complex layer to student life. While income from work can help bridge financial gaps, it also demands time and energy that might otherwise be spent on studying, rest, or involvement in campus life.
The link between financial stress and academic performance is supported by national data showing that nearly 85 percent of college students report that stress has negatively affected their academic performance, says the ADAA. Financial challenges can disrupt focus and progress, and for some, these difficulties are compounded by broader mental health concerns.
Financial anxiety also extends beyond immediate academic stress. Students frequently worry about long-term outcomes, including debt after graduation and future earning potential. These concerns can shape educational choices, career planning, and overall outlook on higher education. As students navigate these pressures, they develop coping strategies that blend practical budgeting with academic commitment.
One practical approach students use is careful prioritization. Instead of spontaneous spending, students plan meals, share transportation costs, and coordinate schedules with peers to reduce individual expenses. Others take advantage of campus resources, such as financial literacy workshops, to improve their budgeting skills.
Student wellbeing programs, like access to free therapy and our PACT mentors can help students address stress stemming from financial uncertainty. Though not every student takes advantage of counseling or support services, those who do find additional tools to manage stress and plan ahead. Faculty and academic advisors frequently encourage open communication about financial pressures and are available to guide students toward available support.
For students like Cajamarca and Chenet, the interplay between financial planning and academic performance is ongoing. Cajamarca described the mental load as a constant background task, saying it often feels like “you’re carrying a second job in your head” because the thought of budgeting never fully disappears. Chenet’s reflections on long-term debt highlight how financial concerns linger beyond immediate expenses, influencing decisions about part-time work, course loads, and life after graduation.
Financial stress is not a new issue, but its effects on student life are becoming increasingly visible. Higher education institutions across the country are working to develop more supportive environments that incorporate financial counseling and transparent information about aid opportunities as part of overall student support systems.
The experience of students illustrates that financial strain is more than a budgetary concern. It shapes routines, academic focus, and emotional wellbeing. Students are resilient and resourceful, adapting to rising costs while pursuing their educational goals, yet the ongoing challenge underscores the need for continued support and improved access to financial resources.As conversations about affordability continue nationally and locally, students and educators alike are calling for enhanced awareness and access to tools that can alleviate some of the pressures. For now, students at Mercy University navigate a landscape defined not just by academic achievement but also by the persistent challenge of balancing finances with the demands of college life.
