The cost of living for college students is higher now than for previous generations, but some University economists see it as the best time to be a college student.

The benefits of going to college are higher now than in previous years because of a large disparity between salaries of high school graduates and college graduates, economics professor Timothy Fuerst said.

‘The return for education is higher than years ago,’ Fuerst said. ‘The good news outweighs the bad news because people will work for about 30 years, but they only pay four years of tuition.’

According to Fuerst, investing in an education is an investment that lasts a lifetime.

‘A car is gone in a few years but your brain is still good,’ he said.

One question economics professors like Fuerst are asking students is if they really need their cell phones and laptops. They are wondering if these are just luxuries.

‘If you wanted to live like a college student in the 80s it would be cheaper to do so now,’ he said.

Economics instructor Clair Smith thinks college students should have cell phones for safety reasons, but the most cutting edge phone is not needed.

‘A simple cell phone with a low cost plan is all a student needs,’ Smith said. ‘Anything beyond that is a luxury.’

Jimmy Barker, sophomore, believes students need cell phones.

‘I think cell phones are a necessity because it’s necessary to contact people on the go,’ Barker said. ‘We don’t even have a room phone.’

Katy Senn, sophomore, does not think cell phones are a necessity, but they can be addictive.

‘You get into a habit of using it and you can’t get rid of it,’ Senn said.

Both Fuerst and Smith think that students will leave school with more debt than previous generations because of the increase in tuition over the years.

‘Tuition is substantially higher than 20 years ago,’ Fuerst said. ‘Costs like new technology are a small expense to a big expense.’

Smith believes students trying to stay up to date with the latest technology, instead of just having the technology they need, can contribute to their debt.

‘People on average leave with more debt because of higher tuition and because they get what technology is normal versus what is necessary,’ Smith said.

The new minimum wage may help or hurt students financially, according to Smith and Fuerst.

‘A higher minimum wage means higher wages for those making the minimum wage but some other people’s wages and hours will be cut,’ Smith said.

As wages go up tuition money might go up.

‘For students working at the minimum wage it’s an automatic raise,’ Fuerst said. ‘There is no such thing as a free lunch so students could pay by having to pay more tuition.’