The Financial Crisis: YOU, YOUR FAMILY AND FRIENDS, AND COLLEGE The recent economic downturn is beginning to have widespread effects, including within the Loyola community. Some of these effects will pose real challenges, while others might—in the long run— prove beneficial. The Counseling Center is a place where you can find support in helping you to deal with your concerns about these economic times. In addition to the information that we are providing here, please know that you can make an appointment to talk with a counselor about any of your concerns. How can students best cope with these circumstances, and be of most support to their families and friends? First, realize that everyone, including parents, is likely to be affected—at the very least by the stressful atmosphere. We might all find ourselves at times feeling more anxious or irritable—feelings that can strain even the best relationships. However, recognizing this situation together with our families and friends, and discussing it with them, can help us to pull together, and not avoid or take things out on each other. Second, there are other ways to lessen the strain on you and those close to you:
- Stay in touch—keep the channels of communication open. Check in on each other, including your siblings.
- Discuss finances calmly and objectively, especially with your parents.
- Reduce your spending. Explore with your parents ways you can do this. Also, be more conscious of the investment that your family is making in your education, so do your part, and do your best academically, attend all of your classes, complete assignments, study and prepare adequately for exams, sign-up for tutoring and meet with your faculty if you are having difficulties academically.
- If staying in college is in question, get a sense of the full range of your options. These might include discussing your situation with the Financial Aid office, picking up more work hours, or applying to be an R.A.
Third, stay in touch with yourself. In past economic crises, rates of anxiety and depression have increased. So has substance abuse. Notice if you are slipping into problematic territory—and if you think you might be, seek help. The Counseling Center (ext. 5109) and the office of Alcohol and Drug Education and Support Services (ADESS) (ext. 2928) are here for you. Both offer individual and group consultation and treatment. The Counseling Center offers group counseling in which students facing major life transitions can discuss their situations together and with group leaders. Fourth, remember to consider the possible benefits of this crisis. Now can be a time to reflect on and renew values and practices that might have been shortchanged in the materialism of recent years. Having less to spend might help us find new ways to relate with each other—ways that might prove more meaningful than some of the old ways. Families might find themselves having more meals together. Friends might spend more time hanging out and talking with each other, playing simple games together, even cooking together. You might volunteer to provide community service to others. Finally, whatever your fears, let people know. Most of us probably aren’t used to talking about our personal financial situations with our friends, or even with family, but this downturn is affecting everyone. So, talk with your friends. Talk with your family. If you think it might help, find someone else on campus to talk with. We’re a strong, supportive community. Just reach out and connect. |
