An Inside Recession Perspective into the mind of a Financial Expert

For eight years Jay Mooney, the Associate Director of Operations at the financial aid office at the University of Georgia, has witnessed many economic changes, but the recent recession has brought his office an entirely different experience.

No one likes talking about money lately, because it is almost like walking on eggshells. Mooney explained how at his job he talks to people about money all day everyday. He talks to parents concerned with tuition, students with the same concerns, employees worried about their job and administration enforcing his job. These everyday conversations have not only seemed to change, but they have also begun to increase.

At the University of Georgia Mooney noted there has been some changes, “There has been a huge increase in those applying for the FAFSA (Free Application for Federal Student Aid). We have been receiving over 20% more than normal and Pell grant applications have increased 40%.”

This increase in need of aid has been keeping Mooney and his employees busy. Mooney also said he noticed some interesting trends in family information submitted on the applications, because by law Mooney’s office has access to this information since it is used for the FASFA process. “There has been a 100% increase in request for information from families who have one or more parents who have lost their job.” He continued to explain that many have submitted an application and before an was even granted they have requested to change their information due to parental job loss.

Mooney’s seniority has backed him with the knowledge to not stress or worry about these economic changes. Although there has been recent furlough days and budget cuts everywhere around him, Mooney says, “To be quite canny with you. I have got some miles on me. I have been through a good bit, so I haven’t fretted terribly. I haven’t lost any sleep about it.”

That laid back attitude is also what prompted Mooney and his managerial co-workers to meet individually with each employee in their office and explain how the furlough days would affect them, while also providing some helpful options.

Other than furlough days there has been a more prominent topic buzzing around the financial aid office: HOPE scholarship. Mooney knows the importance of the HOPE scholarship and how many people rely on that. With this rough economic situation it is not surprising that many are worried what may happen to HOPE. Mooney does not see an end necessarily, but he does predict there will be some changes.

Mooney stated his predictions for HOPE, “The demand for HOPE is more than what is available. The lottery is just not enough. Personally my opinion, only pragmatically speaking is that the Georgia Student Finance Commission is going to have to go into the trust fund account.”

It is clear that Jay Mooney has earned some credentials as he served the student population of UGA with their financial needs for the past eight years. These credentials have backed him with a laid back yet very knowledgeably mature attitude when it come to dealing with this downfall of our economy.

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The shopping list

1 gallon of milk: $1.89
2 boxes store-brand cereal: $3.98
2 loaves of bread: $1.98
1 package hot dog buns: 89 cents
1 package hamburger buns: 89 cents
2 pounds spaghetti: $1.98
2 jars spaghetti sauce: $1.98
1 pound bologna: 99 cents
1 pound chopped ham: $1.99
2 pounds noodles: $1.98
1 pound butter: $1.89
1 bottle mustard: 69 cents
1 bottle ketchup: 89 cents
3 cans condensed soup : $1.77
1 pound ground beef: $1.99
1 pound hot dogs: 99 cents
6 pack of microwave popcorn: $1.69
2 1-pound bags frozen vegetables: $1.98
5 pound bag of potatoes: $1.98

Total before tax and coupons: $32.42

Now this shopping list will work best at discounted grocery store, not places like Publix. It may not sound too appealing to all, but you do what you gotta do when times get tough. So eat up friends!

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