“Hi ma, can you put some money in my bank account?”
It’s the question that can be a determining factor in a college student’s life while balancing classes, a job and social life. While thinking of a way to become an entrepreneur, what really goes through one’s mind? What does being an entrepreneur mean to millennials? The definition of entrepreneurship varies depending on the individual that’s answering the question, and their views on producing a product that is accessible for the society they’re catering to.
Colleges and universities are devoting resources and programs to fund, inform and encourage students to brand themselves. There are career development centers, clubs and organizations for business majors that have off campus ties within a specific field and programs centered around small businesses. Campuses across the entire state and even across the country have developed their own unique platforms where students can grasp an understanding of what their entrepreneurial intakes are. But, are these students building a name for themselves while utilizing the resources that are right before their eyes?
Students focus more heavily on having money in their pockets but don’t want to put in the extra work. They believe that being considered as a millennial in this generation gives them the leeway to only answer to themselves rather than follow in somebody else’s footsteps. This stems from the constant criticism from older generations thinking that millennials are looked at as laughable slackers who are not willing to get up and do the job. According to Forbes, 55 percent of millennials are willing to pay their dues by entrepreneurial ideas but 70 percent of non millennials don’t believe millennials are as willing as they should be.
Compared to the 1960s, college tuition costs have increased dramatically. According to a study done at Penn State University, the cost of tuition was $1,050 in the 1960s. Meanwhile, the average tuition today at a state school such as SUNY Buffalo State is a little over $6,000 per year. With costs like this, many millennials are working several jobs with insane hours just to meet the bare minimum educational costs. When housing, meal plans and additional student fees are added, costs can exceed. Even though students work, they still do not have enough money to get them by which is why they mostly look for fast and easier ways to get the money they need to survive.
When students are given the opportunity to be independent and be on their own, they tend to think of ways that better suit them. In between a crazy work schedule and a stressful course load, students seem to not want to be bothered with any other kinds of work outside of the classroom, but are quick to complain about not having any kind of head start in the career they aspire to have.
While there’s a variety of different reasons why the programs offered to students aren’t utilized the proper way, it’s no surprise that millennials are looked down upon when it comes to their motivation to move forward in their careers. It’s time that students begin to accept the help offered to them if they choose to advance in their desired career paths. If not, then our millennial generation will be on track to becoming the least driven entrepreneur group this country has seen.