financial stress

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Fresno City College *

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Sociology

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Jan 9, 2024

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Nancy Cha CLAS 3 (06) Ramon Sanchez October 16, 2019 Financial Stress on the LatinX Community The reach for higher education can be both successful and sacrificial. One, leading into a well-earned life and new opportunities and the other leading into grief and debt. The LatinX community face this decision the moment they decide to pursue higher education. Obstacles such as financial debt comes into play as tuition increases and the choice to work or go to school becomes a deciding factor. This financial obstacle follows many LatinX as they continue to attend college courses, attempting to make the right choices. As stated, financial issues are the main reason to why higher education within the LatinX community is not achieved. Patricia Cohen, author of “Racial Wealth Gaps Persist Despite Degree, Study Says”, illustrates certain issues of financial stress that the Latinx community are living through. One issue in particular, is the use of loans to create a thriving environment for their children. Cohen states that parents of Latinos/as withdraw loans to provide a better life for their children (i.e. buying middle class homes to provide a better life). Not understanding the negative future events of paying off the loan through out their child’s life, the parents continue pay off their burden. Unfortunately, this burden begins to manifest into something bigger, leading the child to carry the burden in the end. Most children from the LatinX community, who have a family debt often drop out of college or never start college to start working. Family concerns and family support is held to a higher standard than educational obligations. Therefore,

the children of the LatinX community would rather accept labor than higher education. According to Jordan Alan Arellanes, Ruben P. Viramontez Anguatino, and Brenda L. Lohman’s article, “Bettering the educational attainment for Latino families: How families view the education of their children”, the studies contain evidence showing how “ LatinX parents to the education system is affected by community factors, family values, and school practices”. If a struggling LatinX parent values work and money over education, it could cause an issue for the Latinx children attending college. Rather than spending more money on education, why not make money to help with family stability. Although education can lead into a stable financial life, the four years of tuition that is paid out of pocket, for a LatinX student can be extensive and stressful. In theory, the idea of having a higher education often sounds like a pleasing idea. It seems like it provides new doors and opportunities, but many fail to see the realizations of the idea. The future for a Latinx student having a degree is the dream, but no one talks about the four years of financial stress leading into loans and debt the whole family dealt with. The realization of having an unstable financial support, not only proves difficult for the LatinX community to dream, but to grow into the high life as well.

References: Cohen, Patricia (2015). Racial Wealth Gap Persists Despite Degree, Study Says. New York Times. Retrieved Fresno state Canvas Jordan Alan Arellanes, Ruben P. Viramontez Anguaino & Brenda J. Lohman (2019) Bettering the educational attainment for Latino families: How families view the education of their children, Journal of Latinos and Education, 18:4, 349-362, DOI: 10.1080/15348431.2018.1426465

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