
As the academic year approaches, the escalating housing crisis is set to cast a long shadow on the aspirations and financial stability of students.
In 2021, the greater Salt Lake area experienced a 20.1% increase in rent prices, and by the second quarter of 2022, rent had jumped an additional 9.4%, according to a report from Coldwell Banker Richard Ellis (CBRE), a commercial real estate investment firm in Utah. Experts foresee that 2023 will follow a similar pattern, as anticipated.
James Woods, an economist from the University of Utah Kem C. Gardner Policy Institute, said that for the third consecutive year, Utah renters have seen increases between 10% and 12% year-over-year. Woods explained that this is the result of competition for rental properties, which then exacerbates the financial strain on students.
Woods went on to say that the vacancy rate in Utah suburbs remains low, barely scraping 4%, which creates competition among potential tenants and a never-ending cycle.
As a result, SLCC students like Cesar Meza are finding it increasingly challenging to secure affordable housing options near any of the six campuses. Meza, a fourth-year student majoring in computer science, explained that the rising costs have forced him to make choices between housing and food.
“It’s become increasingly harder to eat healthy due to increasing costs,” he said. “As a result, we tend to buy budget-friendly meals that aren’t the healthiest.”
Despite being employed, Meza said that income increases have not kept pace with rising living costs. To manage his financial situation, Meza works longer hours.
“I find myself working Saturdays and putting in nine to 10-hour days,” he said. “Not because we need to, but for financial security and peace of mind.”
Besides housing and food, additional expenses, such as textbook costs, have added up. To manage, Meza relies on federal student aid, received through the Free Application for Federal Student Aid (FAFSA), to offset costs.
Meza believes there needs to be more financial resources to educate students on managing their income effectively and raise awareness about the financial assistance and scholarships offered by SLCC.
That’s the role of Josh Montavon, director of SLCC’s Financial Aid Office. He leads a team that tries to assist students grappling with the rising cost of living. Montavon explained that the Financial Aid Office takes the increasing cost of living into consideration when determining financial assistance packages, utilizing a comprehensive cost of attendance figure that encompasses both direct and indirect costs.
Montavon said this calculation serves as the basis for assessing a student’s financial need and determining their eligibility for financial aid. They also collaborate with local employers to provide part-time job opportunities, often eligible for federal work-study funding with unique tax benefits.
To further support students, SLCC offers a range of resources, including an emergency fund, scholarships and financial counseling. Part of the challenge is keeping students informed.
“I just recommend folks ask questions, and the more you get involved on campus, the more you learn about what’s available at SLCC,” Montavon said. “[SLCC] has several tuition waivers [and other resources] … but it’s just a matter of knowing the different departments and who has money available. Sometimes those processes aren’t super clear and deliberate for students.”
However, SLCC’s Financial Aid Office is limited when it comes to rising housing costs. That burden falls on students, but Montavon said students can still increase their financial assistance.
“Make sure you complete [the] FAFSA each year, and then ask [the Financial Aid Office] questions to see what else is available,” he advised.

Higher costs means more public outrage, stress and criminal activity that will be enforced in one lump sum of consequence. But people don’t care that the law exists and this is why everyone in the community has to pay, because people just want to turn a blind eye and focus instead on things and ideas that seem important, or just let other people assume all the hard decisions and all I have to worry about is how to get by, no matter what the end of the road is going to look like in the foreseeable short term. It is depressing and low.
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