The Average Marist House A look into the spending of college students as affected by the current economy Communication 255L_111
Jun 15, 2015
2. At Marist College in Poughkeepsie, NY, 48% of students are
in-state, while 52% are out of state. 56% of students are women,
while 44% are men. The tuition for one year, including housing, is
approximately $40,000. The maximum academic scholarship given is
$12,000 per year. 77% of students have their aid needs met, and the
average need-based loan is $3,507.
The Marist College Student Center in Poughkeepsie.
3. An average Marist household in Gartlandssophomore housing
complex is made up of six students of the same sex living in double
rooms. In one house, there are six girls from different families
and different homes that all became best friends their freshman
year of college.
Gartland Complexalong the Hudson River.
4. The familial financial situations of the residents have given
them each different limitations and advantages regarding the
handling of their money here at Marist. On-campus jobs, shopping,
and social activities are all factors that are affected by our
monetary situations. Each factor is encountered regularly as a
student living in Gartland, and they all have to handle them
differently.
The residents of the Gartland house being discussed.
5. Resident # 1
One residents father lost his high-paying job as the COO of a
growing lumber distribution company one week before she graduated
high school as a class scholar and had already committed to coming
to Marist, whose financial aid package and academic scholarships
were not quite as generous as other colleges she was accepted by.
Her mother is a preschool teacher, making a middle class salary.
Her father was unemployed for the majority of her first year,
turning their upper middle class standing to middle class, and
though he now has a job, he is making about half of what he
was.
A photo representing the decline in the economy that affected the
residents family.
6. Resident #1
This residents financial situations at home due to the economy has
caused her to spend differently while at college and will have many
more loans than originally anticipated. She works as a
multicultural writing tutor and study session-leader a few hours a
week between classes and activities so she has a little pocket
money week to week but still finds that the cost of groceries and
finding fun things to do on the weekends goes way over her weekly
paycheck. She is not a brand-name-shopper and finds herself being
very thrifty and hunting for the bargains when she must indulge in
a shopping trip.
Examples of the inexpensive clothing and generic groceries the
resident tends to shop for.
7. Resident #2
This residents father is the Commissioner of Assessment and
Taxation of the City of Albany, and her mom is an office manager at
Albany Neuropsychological Associates. Overall, shed consider her
family middle class. She'd say theyre comfortable and have enough
money to pay for the necessary things and still have some to enjoy.
The recession didnt hit them directly, but they still have to
balance their money properly to remain at a stable level to avoid
being affected.
The official seal of the city of Albany, which the residents father
works for.
8. Resident #2
This resident said, I'm fortunate enough that my parents are paying
for my college tuition, and they have no problem being financially
responsible for my education, but I don't think they should be
responsible for my social life on campus. Any money I spend is
money I have saved up from working over the summer so I understand
that I have to make decisions on what I choose as top priorities to
spend my money on.
This resident is brand loyal to foods, like her cereal and coffee,
but she chooses whatever works and looks best when it comes to
makeup, clothes, and accessories (whether theyre cheap or pricy)
like the Coach and generic clutches, and Chanel and NYC face
powders.
9. Resident #3
This next resident describes her financial situation as follows:My
mom is currently an elementary school teacher, a stable job. I
would consider her to be more upper-middle class. She is keeping up
with payments without too much obvious strain from the economy. My
dad is laid off due to his work. He cooks at a country club, so it
is a seasonal lay off. The economy has hit him a little harder, but
he is getting by.
Preschool blocks and a chef hat representing the residents parents
careers.
10. Resident #3
Though this resident doesnt work on campus currently, she is in the
process of becoming an RA next year to drop tuition costs
significantly. She finds herself passing up social events because
of money from time to time. She prides herself in being a deal
shopper and finds that sometimes, as a college student, those
skills are even more essential. She can get money from her family
when needed, mostly for essentials like groceries and gas, but it
is not just handed to her.
This resident isnt brand loyal and buys what is cheap, like the
pastas, body mist, and brown sweater shown above. Her name brand
clothes and perfumes, like the AE vest and Victorias Secret perfume
were all gifts.
11. Resident #4
This residents mother works as the primary bread winner as Director
of Pharmacy & Nutrition at a hospital because her dad is a Navy
veteran and recently injured his hand working one of his side jobs
in a factory, and so he had to quit. Hes received 5-7 surgeries in
the past year, but the resident says that her mother is making
enough to support the family. This resident has a job at Marist
Poll on campus, and though she was supposed to get work study for
$1,000 dollars, she is barely working enough to make half of that
by the end of the year.
A hospital room and U.S. Navy seal, representing the residents
parents jobs.
12. Resident #4
Though this resident isnt making much weekly, she has enough to get
by to allow her to go out when she pleases. She said, If I work for
my money I have it. My parents have always had me know the value of
hard work and spending money on the right things. She makes her own
money to spend, but her parents give her money when she gets a bit
too low. She does admit, however, to splurging every now and again
on an expensive item from a high-end brand, but she typically tries
to spend conservatively.
A collection of inexpensive makeup and generic groceries purchased
by the resident, as well as her splurges, the Coach brand shoes and
Sephora makeup.
13. Resident #5
The next residents father is the District Manager of the Albany
branch of Northwestern Mutual Financial Network. He is also a
financial advisor and wealth management advisor. Her mother has
been unemployed since she had kids.She would consider her family
upper class because of the savings plans that are installed for all
members of her family and because of the property that they rent to
other people in addition to her fathers high salary.
A branch of Northwestern Mutual Financial Network, where the
residents father is a District Manager and financial advisor.
14. Resident #5
This resident, though her family makes a lot of money, understands
the value of it. She doesnt shop that much, but when she does, she
tries to be budget-conscious. She regularly gets money from her
parents for groceries, gas, and tanning. She feels absolutely
financially stable because her parents take care of her necessities
and a few extras, but she can budget her own money effectively as
well.
This resident does not shop often, but she values her more pricy
name brand items, like her Guess bag, Biosilk hair product, and
Nike sneakers above but also can shop less expensive brands like
Dove when necessary.
15. Resident #6
The final residents father is President and CEO of H.J.Advisors.
Her dad resigned his position at Goldman Sachs and retired but
remains the head of H.J. Advisors. They do have substantial
discretionary income to spend, and this resident represents the
highest income in the house. She would describe her family as upper
class. They do watch their money, but they do have freedom to spend
it as they wish.
The logo for Hugh Johnson (H.J.) Advisors, where the residents
father is President and CEO.
16. Resident #6
At school, this resident claims that she is willing to shop generic
or less popular brand names but finds herself being more brand
loyal than others to certain items. She does get money from her
parents about every week to every other week. She says, Yes, I do
probably have more money than the average college student, but a
lot of that is spent on other people. Also, I have two credit
cards, both in my parents names, which I use for gas and groceries.
She can spend freely but still tries to be responsible as a college
student.
A collection of high end and brand name items purchased by the
resident that she considers her prized possessions, including her
four pairs of Ray Bans sunglasses, iPod touch, keys to her
Volkswagen Tiguan, Chanel perfume, Bobbi Brown makeup, and her
favorite brand name apple juice, just for fun.
17. The descriptions of each housemate in E6 exhibit the
differences from middle class to upper class in regards to college
living. The spending habits depended mostly on financial situations
and personal preferences while shopping, but each person found what
worked best for them as a college student. Finances can make or
break the college experience at times, but it really comes down to
personal budgets and awareness of spending.
18. Photo Credits
All photos besides picture of residents and pictures of members
belongings, which belong to the author, are from:
http://farm1.static.flickr.com/105/252577725_7143776aec.jpg
http://farm5.static.flickr.com/4145/5183891098_2ce7b5740f.jpg
http://seshdotcom.files.wordpress.com/2008/03/recession1.jpg
http://www.albanyny.org/_images_content/city_seals/best_color.jpg
http://umcmemorial.com/files/Gallery/Preschool.jpg
http://www.ilovefoodtrucks.com/wp-content/uploads/2010/07/chef-hat.jpeg
http://blogs.nature.com/nm/spoonful/hospital%2520bed.jpg
http://cdawgownd.files.wordpress.com/2008/11/navy1.jpg
http://images.businessweek.com/ss/09/12/1210_best_internship_companies/image/023_northwestern_mutual.jpg