The postal service is now considering raising the cost of stamps by three cents.

In September, the Postal Board of Governors met to discuss challenges the business has experienced.

Stamps currently cost 46 cents. Although the cost is not extremely high for college students, some seniors will still have to mail off resumes, transcripts, and job applications if employers do not provide an online application. An increase could take a toll on their financial pockets.

Before the price of stamps goes up, the Postal Regulatory Commission has to approve the rate increase.

The cost of first-class mail would increase to 49 cents. The price of mailing a postcard would rise to 34 cents. Mail being sent internationally would rise to $1.10 from a previous $1.05.

“The increase is required for the postal service to raise prices of the stamps,” said Monica Coachmen who works with Corporate Communications for the United States Postal Service (USPS). “Due to the Postal Service’s financial situation, the business is required to raise the prices.”

The post office continues to come up with solutions to help resolve its debt situation. Through the years 2011-2013, post offices have owed 27 billion dollars. During the last fiscal year, the business owed 15.9 billion dollars. Postmaster General, Pat Donahoe has requested that arbitrators take into consideration the USPS’ financial situation.

“I feel like everything else is going up, so stamps have to go up as well,” said Latecka Pleasant, a University Mail Center employee. “Everyone is texting and not mailing letters anymore.”

Regardless of whether or not the rates increase, the service is expected to lose $6 billion dollars this year.

The postal service has also turned to Congress for help. If the request for the increase is approved, the business would look to bring in $2 billion in revenue.

In addition to the rates possibly increasing, Congress has proposed to cut out Saturday mail, a move that would save close to another $2 billion dollars each year.

One major factor that contributes to the debt of the postal service is the prefund for health benefits. The prefund provides the ability to pay for employees’ benefits after they retire, which costs the postal service $16 billion. The postal service is the only federal business that pays for employees’ health benefits after retirement.

Complaints have not only come from frustrated employees and lawmakers, but also the postal workers unions and college students who use postal services. Some believe that the move to increase prices would be an unnecessary inconvenience for loyal customers.

“The Postal Service is trying to get more money. By raising the prices of stamps, it will only create more complaints from customers,” said Qiera Love, an A&T student.  

If the postal service does not choose to increase prices, the business will suffer financially which will indirectly affect customers, workers, and other businesses.

Though most American citizens have become accustomed to emails and messaging, older citizens still use mailing services. Small businesses such as print and copy shops that use the postal service would also be affected.

The United States Postal Service has provided a Postal Plan that helps those who live in the rural communities, where the postal service is requested. If it were not for this plan, citizens living in rural areas would have to commute a long distance for mailing purposes. If the postal service loses locations as a result of its debt crisis, it would hurt the rural communities, thus affecting customers.

Over the past seven years approximately 202,000 have left the post office, not because they were laid off, instead of personal decisions, and retirement. The postal service provides a financial incentive for those who are retiring early and want the early retirement offers. That could come to an end if these issues are not resolved.

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• Dominique Moody, Register Reporter