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The year 2008 was a tough year for many Americans. Foreclosures and unemployment rates increased, anxiety was high and welfare lines were long. For some the situation might have looked hopeless, as they faced the future homeless and without a steady income. There were days when many people where rejected several times for several different jobs. In 2008 the newly elected president Obama reauthorized the Higher Education Act of 1965 (HEA), thus enabling many Americans to go back to college. The idea was to help stimulate the economy and give a "hand up" to many people who found themselves victims of the recession.

There are different types of financial aid available through the federal government; some of the money is offered through federal grants, and other amounts can be acquired by loans. Grants are available to students over the age of 24 who are financially independent, meaning they are not anyone's tax dependent. The Pell Grant is a popular grant that offers students up to $5,550 to pay for their tuition, and beyond that students can apply for loans to cover their cost of attendance. The Federal Perkins loan is a popular loan and Sally Mae is also available for private student loans. With the help of financial aid many students are able to live a comfortable bohemian life.

When unemployment is high going back to school is the best decision for many intelligent and able workers. Going to school affords hope to the jobless, it gives people an opportunity to expand their qualifications and foster new skills. Though financial aid only provides the bare minimum, it does help. It is up to the students to maintain passing grades and attend college full time. Student life is a gauntlet of expenses: book prices are high, rent is high, and tuition is always on the rise. Many people who a

Going back to school is the best decision for many intelligent and able workers.

re on financial aid learn valuable lessons about saving money and how to ration their expenses.

College is challenging and it creates opportunities to branch out and learn new things. However, many students are biting their nails with anxiety and worried if all this work is actually going to pay off. While many people have used the recession constructively by going back to school, the rush of enrollment at colleges and universities has had an impact on the economy. Now more than ever the job market is flooded with qualified candidates. As an unfortunate consequence, the Bachelor's Degree has lost some of its allure. Unemployed again, many college graduates hope that a Master's Degree will supply them with a competitive edge in the job market. Going back to school for most students means more students loans, and thus the vicious cycle of student debt continues. The growing amount of student debt in America is bound to unemployment and there is no quick-fix solution. The students are not going anywhere, mostly because many of them have nowhere else to go, and unemployment rates seem fixed at the moment. With all these educated people, hopefully someone will dream up a solution for the over-educated and unemployed.