The costs of being a Vic student 

Shaping financial culture among university students

Financial support is essential for virtually any organized activity to take place. Yet in a community filled with young people who are often grappling with their newfound financial independence, how can Victoria College balance the crucial nature of funding with the ever-changing financial situations of its students? The answer is far from clear-cut. Nonetheless, it is important that we recognize the ways in which community events that continuously rely on charging fees shape the culture of Vic.  

For example, let’s think about the social dynamic of a “Free Movie in the Quad” event, compared to a tie-dye activity where shirts must be purchased for 10 dollars each in order to participate. With regards to the theoretical movie night, time is the only foreseeable constraint faced by interested parties. However, an automatic financial hindrance is placed on anyone interested in the tie-dyeing event due to the simple addition of a 10 dollar fee. Suddenly, the entire dynamic of the event is changed, as individuals who are unable to pay the 10 dollars—a steep amount for some—are automatically left out. Financial exclusion is separate and of a different nature than other potential constraints on attendance because, let’s face it, talking about money is uncomfortable. It is similarly awkward to promote an event to your peers only to discover that others are not able to attend due to a lack of funds.  

Victoria College students often face these tension-provoking conversations as soon as it becomes clear that not everyone will be able to afford entry to an event; this rapidly becomes a lose-lose situation. The majority of events held at Vic are made accessible to students of all financial statuses, and most groups are not in the business of contributing to an increasingly financially fragmented community. However, it is important to address the ways in which those few events that are not available to all students shape our social interactions. 

Upon closer analysis, it appears that not only social dynamics, but also academics, can be influenced by co-curricular expenses. According to the National Centre for Education Statistics (NCES), run by the U.S. Department of Education, students working up to 15 hours a week have higher GPAs than students who do not work, but the grades of those who worked 16 or more hours weekly suffered. It is absolutely possible to balance part-time work with academic success, but students can often reach a certain point that inadvertently causes their academics to be sidelined due to their need for a living wage. In the case of the NCES study, this breaking point occurs when a student works over 16 hours a week, but everyone is subject to their individual limits.  

Many Victoria College students must work extra part-time, casual, or contract hours if they want to be able to afford the cost of living. In order to pay for certain Vic events, they may also feel pressured to take on extra shifts that could overwhelm them. While some students may be able to juggle their work with academics, a host of students may struggle with creating a manageable schedule. In the case of working students, balance is key. In much the same way, when it comes to charging for events, it is about managing the necessity of financial support from the institution along with the monetary constraints that students so commonly face in this competitive economy. We cannot expect that all events will always be free, as the goal to generate profit and revenue are the gears that form the reality of our capitalist world. Despite this, we can strive to build a community where we are conscious of the ways in which monetary access impacts our relationships and social dynamics, bringing us that much closer to bridging the financial discrepancies found at Vic.