Tag Archives: College Access

GAO report: Too few families investing in ‘529 college savings plans’

15 Dec

Many families start “529 Plans” to help with college expenses. A General Accounting Office (GAO) report finds that many families are not taking advantage of “529 Plans.” Saving for College.com has some great information about “529 Plans.”

What is a 529 plan?

529 plan history

A 529 Plan is an education savings plan operated by a state or educational institution designed to help families set aside funds for future college costs. It is named after Section 529 of the Internal Revenue Code which created these types of savings plans in 1996.

State plans are OK for out of state colleges

529 Plans can be used to meet costs of qualified colleges nationwide. In most plans, your choice of school is not affected by the state your 529 savings plan is from. You can be a CA resident, invest in a VT plan and send your student to college in NC. Check to see if your institution is eligible under 529 rules.

Which states offer 529 plans?

Nearly every state now has at least one 529 plan available. It’s up to each state to decide whether it will offer a 529 plan (possibly more than one) and what it will look like, meaning 529 plans can differ from state to state. You should research the features and benefits of your plan before you invest, research state 529 plans and even compare between plans.

Tax Benefits

As long as the plan satisfies a few basic requirements, the federal tax law provides special tax benefits to you, the plan participant. See the top 7 benefits of 529 plans.

Some states (but not all) offer tax incentives to investors as well. Research your state’s tax treatment.

More on Tax Benefits

Watch Savingforcollege.com’s Chris Stack in video below (airing date March 31, 2011).

Types of 529 plans

529 plans are usually categorized as either prepaid or savings plans.

Savings Plans work much like a 401K or IRA by investing your contributions in mutual funds or similar investments. The plan will offer you several investment options from which to choose. Your account will go up or down in value based on the performance of the particular option you select.

Prepaid Plans let you pre-pay all or part of the costs of an in-state public college education. They may also be converted for use at private and out-of-state colleges. The Private College 529 Plan is a separate prepaid plan for private colleges.

Educational institutions can offer a 529 prepaid plan but not a 529 savings plan (the Private College 529 Plan is the only institution-sponsored 529 plan thus far).

Enrolling in a 529 plan

There are two ways to invest in a 529 plan.

  1. Directly with the 529 Plan manager. See a list of 529 plans.
  2. Through a financial advisor. Find an advisor in our Pro Directory. \

    Common questions

http://www.savingforcollege.com/intro_to_529s/what-is-a-529-plan.php

See, Where 529 Plans Are Failing http://online.wsj.com/article/SB10001424127887324296604578175260466428712.html

There are some good articles about whether a prepaid college plan is a good idea for your family

1. Baby Center’s Saving for College: Prepaid College Plans

2. Saving for Your Child’s Education

3. Is Your Prepaid College Plan Safe?

4. How to Use a 529 Plan to Improve College Savings

See, GAO Report: Too Few Families in U.S. Invest in 529 Plans http://www.educationnews.org/parenting/gao-report-too-few-families-in-u-s-invest-in-529-plans/

Here is the GAO summary:

What GAO Found

A small percentage of U.S. families saved in 529 plans in 2010, and those who did tended to be wealthier than others. According to the Survey of Consumer Finances (SCF), less than 3 percent of families saved in a 529 plan or Coverdell Education Savings Account (Coverdell)–a similar but less often used college savings vehicle also included in the SCF. While the economic downturn may have reduced income available for education savings, even among those families who considered saving for education a priority, fewer than 1 in 10 had a 529 plan (or Coverdell). Families with these accounts had about 25 times the median financial assets of those without. They also had about 3 times the median income and the percentage who had college degrees was about twice as high as for families without 529 plans (or Coverdells).

States offer consumers a variety of 529 plan features that, along with several other factors, can affect participation. Some of the most important features families consider when choosing a 529 plan are tax benefits, fees, and investment options, according to experts and state officials GAO interviewed. These features can vary across the state plans. For example, in July 2012, total annual asset-based fees ranged from 0 to 2.78 percent depending on the type of plan. 529 plan officials and experts GAO interviewed said participation is also affected by families’ ability to save, their awareness of 529 plans as a savings option, and the difficulty in choosing a plan given the amount of variation between plans. Selected states, however, have taken steps to address these barriers. For example, to address families’ ability to save, particularly for low-income families, some states have adopted plans that include less risky investments, have low minimum contributions, and match families’ contributions.

Savings in 529 plans affect financial aid similarly to a family’s other assets. For federal aid, a family’s assets affect how much it is expected to contribute to the cost of college. If the amount of those assets exceeds a certain threshold, then a percentage is expected to be used for college costs. For example, for students who are dependent on their parents, the percentage of parental assets, including savings in 529 plans, that the family may be expected to contribute ranges from 2.64 to 5.64 percent. Many states and selected institutions also treat 529 plan savings the same as other family assets. However, a few states provide them with special treatment, such as exempting those funds from their financial aid calculation.

Why GAO Did This Study

Paying for college is becoming more challenging, partly because of rising tuition rates. A college savings plan can be an option to help meet these costs. To encourage families to save for college, earnings from 529 plans–named after section 529 of the Internal Revenue Code–grow tax-deferred and are exempt from federal income tax when they are used for qualified higher education expenses. In fiscal year 2011, the Department of the Treasury estimated these plans represented $1.6 billion in forgone federal revenue. Managed by states, over one hundred 529 plan options were available to families nationwide as of July 2012. The number of 529 plan accounts and the amount invested in them has grown during the past decade. GAO was asked to describe (1) the percentage and characteristics of families enrolling in 529 plans, (2) plan features and other factors that affect participation in 529 plans, and (3) the extent to which savings in 529 plans affect financial aid awards. GAO analyzed government data, including the SCF. This survey’s 529 plan data are combined with Coverdells, so the SCF estimates used in the report include both 529 and Coverdell data. GAO also analyzed National Postsecondary Student Aid Study data; conducted interviews with federal and state officials, industry and academic experts, and state and institutional higher education officials; reviewed 529 plan and Department of Education documents; conducted a literature review; and reviewed relevant federal laws, regulations, and guidance.

What GAO Recommends

GAO is not making any recommendations in this report.

For more information, contact Michelle Sager, (202) 512-6806, sagerm@gao.gov .

Highlights (PDF, 1 page)

Jenny L. Phipps of Bankrate.com offers additional suggestions in Cutting the Cost of College Incidentals:

18 ways to cut the cost of college incidentals

 

1.

 Read the bill carefully.

2.

 Don’t get caught in a feeing frenzy.

3.

 Beware too much health care.

4.

 Go on a dorm-dining diet.

5.

 Pay on time.

6.

 Know the financial aid bottom line.

7.

 Vet the class schedule.

8.

 Look for ways to get ahead.

9.

 Consider cheaper alternatives.
10. Transfer advance-placement credits.
11. Buy smart.
12. Decorate creatively.
13. Forget the phone.
14. Eat at home.
15. Buy used books.
16. Look for cheap travel.
17. Devise a money delivery system.
18. Be sure the price is worth it.

http://www.bankrate.com/brm/news/college/cfguide/misc-costs1.asp

Congratulations on your acceptance into college. Now the real work begins.

Related:

Five Ways to Cut the Cost of College                                     http://www.cnbc.com/id/41626500/Five_Ways_to_Cut_the_Cost_of_College

Secrets to paying for college                                          http://money.cnn.com/2012/03/27/pf/college/tuition-costs.moneymag/index.htm

Where information leads to Hope. ©                     Dr. Wilda.com

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Blogs by Dr. Wilda:

COMMENTS FROM AN OLD FART©                          http://drwildaoldfart.wordpress.com/

Dr. Wilda Reviews ©                                                 http://drwildareviews.wordpress.com/

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Will a three year B.A. help more students afford college?

24 Jun

In 3rd world America: College increasingly out of reach, moi said:

Moi really doesn’t know what to make of the idea of privatizing state universities.  In the recent past, government had the goal of raising the standard of living and producing the economic conditions that fostered livable wage jobs. The goal of most politicians was to create the conditions that promoted and fostered a strong middle class. Particularly, after WWII and the Korean War, with the G.I Bill, one part of that equation was the wide availability of a college education. This push produced an educated workforce and a college education was within reach, no matter one’s class or social status. This educated workforce helped drive this country’s prosperity. Now, have we lost the goal of providing educational opportunity the widest number of people possible, no matter their class or social status? This question causes moi to wonder about privatizing state universities.

Sam Dillion was writing about the prospect of privatizing public universities in the New York Times in 2005. See, At Public Universities, Warnings of Privatization In 2004, William Symonds wrote an opinion piece in Business Week about the role of public universities

Justin Pope, AP Education Writer details just how fast college costs are rising all over the country in the article, College prices up again as states slash budgets:

Average in-state tuition and fees at four-year public colleges rose an additional $631 this fall, or 8.3 percent, compared with a year ago.

Nationally, the cost of a full credit load has passed $8,000, an all-time high. Throw in room and board, and the average list price for a state school now runs more than $17,000 a year, according to the twin annual reports on college costs and student aid published Wednesday by the College Board.

http://www.time.com/time/nation/article/0,8599,2097835,00.html

Prospective students and families will not only have to worry about getting into college, but finding a way to pay for college. So, it comes as no surprise that reducing the time it takes to get a B.A.  is an idea that is being floated.  https://drwilda.wordpress.com/2011/10/27/3rd-world-america-college-increasingly-out-of-reach/

Mary Beth Marklein writes in the USA TODAY article, Cut college tuition by getting 4-year degree in 3 years:

Yet for all its pocketbook appeal, the three-year concept hasn’t taken off, particularly at public universities. Legislation in Rhode Island in 2009 and Washington last year encourages public universities to develop three-year options, but no programs have been proposed to date, officials in both states say. State budget challenges have pushed a University of California committee’s recommendation to a back burner, says system spokesman Steve Montiel.

At Ohio State University, which must phase in three-year degrees beginning this fall, provost Joe Alutto says a three-year degree may be “misdirected for an institution such as ours.” He told legislators last year that students who earned college credit in high school tend to add a minor or second major rather than graduate early.

Some skeptics worry about quality. “It’s as if they put students on a conveyer belt and just speed them up and spray them with a fire hose and the students catch what they can,” Southern New Hampshire University professor Marty Bradley says of models that compress four years into three. He pioneered a three-year degree on his campus in 1997 that required an overhaul of the curriculum.

Some education groups argue that resources, particularly at public institutions, should focus on students who are most at risk of dropping out. A study of 33 states by the non-profit Complete College America found that just 26% of students enrolled at public institutions earn a bachelor’s in four years; 54.3% take six years. About 2% of students earning a bachelor’s in 2007-08 did so in three years, federal data show. Hartwick’s four-year graduation rate in recent years averages about 46%.  http://www.usatoday.com/money/perfi/college/story/2012-06-18/three-year-college-degrees/55746696/1#.T-U7ubWwBmE.email

For many students, a three year program will result in a huge savings, but there are risks for other students.

Mandee Heller Adler, Founder and Principal of International College Counselors writes in the article, 3-Year college degrees can save time and money, but is it worth it?

Some of the pros and the cons of the 3-year plan include:

PROS

• Three years give a boost for ambitious students who know what they want to study.

• It will be easier for families to afford college

• Students enter the workforce quicker and/or go on sooner for graduate study.

CONS

•  An undergraduate’s social experience could be compromised.

•  College would tilt more toward job training and away from the broad-based education that many U.S. schools offer.

• Employers may then insist on a master’s before they employ anyone and this will increase the cost to students of the future.

• Parents will pressure their students to enter a 3 year program and then students will have a miserable time, taking an overload of courses, and missing the experience of college.

•  Students should enjoy these four years of freedom.  They have the rest of their lives to work.

From my experience as a college advisor, my thought is, if you’re smart and dedicated enough to graduate in 3 years, you can figure out how to do it on your own.   AP credits, summer courses, and college credits gained during high school can be used to reach this goal.  I work with a few high school freshmen now who are accumulating college credit. Their life goals may change in the next two years but the college credit can work favorable for them no matter what college or major they enter. I know more than a few students, including my sister, who graduated in three years or less without their colleges having to create a special program.

If you have any other college admissions questions for a college counselor, I’d be happy to answer them.  Please write me here or at my personal email which can be found on my International College Counselors college counseling website.

http://internationalcollegecounselors.com/blog/?page_id=81

For the article that served as a basis for these college counselor thoughts, see:                                                   http://www.washingtonpost.com/wp-dyn/content/article/2009/05/22/AR2009052203681_Comments.html#

There are also concerns that a three year program might not be appropriate for at-risk students.

Christina Couch  writes at Bankrate.com in the article, Pros and cons of accelerated degree programs:

Greater risk to the at-risk

The economic reasons for shortening college tenure are strong. Not only knocking out a year of tuition, room and board — a value of anywhere from $10,000 to $50,000 — they also reduce student loan interest and help students get a jump on paying their student loans back. The problem, says Karen Gross, president of Southern Vermont College in Bennington, Vt., is that the students most economically motivated to reduce their college costs are frequently the ones who need a four-year program the most.

“Many students come into college with certain academic deficiencies. There’s a fair amount of work that has to be done just to catch them up,” she says. “There are a subgroup of students from elite high schools for whom a three-year degree would be just fine. But that’s a very small percentage.”

Certain populations of students are more at-risk than others. Students from low-income, English as a second language and first-generation college backgrounds are less likely to complete a bachelor’s degree than other students.

“If you fit into any of these vulnerable populations, it doesn’t mean that you can’t graduate,” says Gross. “It just means that you are statistically at greater risk. You need to consider that.”
Trend on campus: three-year college degrees http://www.bankrate.com/finance/college-finance/pros-and-cons-of-accelerated-degree-programs-1.aspx#ixzz1yaNmMMdQ

Increasingly, the question is whether colleges are using the resources available to them effectively.

A principal reason for the rush toward three year programs is the cost of college. Robin Wilson wrote in the Chronicle of Higher Education article, Colleges Spend Far Less on Educating Students Than They Claim, Report Says:

While universities routinely maintain that it costs them more to educate students than what students pay, a new report says exactly the opposite is true.

The report was released today by the Center for College Affordability and Productivity, which is directed by Richard K. Vedder, an economist who is also an adjunct scholar at the American Enterprise Institute and a Chronicle blogger. It says student tuition payments actually subsidize university spending on things that are unrelated to classroom instruction, like research, and that universities unfairly inflate the stated cost of providing an education by counting unrelated spending into the mix of what it costs them to educate students.

“The authors find that many colleges and universities are paid more to provide an education than they spend providing one,” says a news release on the report, “Who Subsidizes Whom?”

The report’s authors used data from the U.S. Education Department’s Integrated Postsecondary Education Data System, or Ipeds, to conclude that more than half of students attend institutions that take in more per student in tuition payments than what it actually costs them to deliver an education.

The chief reason universities inflate the figures on what they spend to educate students, says the report, is that institutions include all of their spending—whether it is directly related to instruction or not—when calculating what it costs them to provide an education. In reality, says the report, depending on the type of institution, it can cost universities much less to educate students than what the institutions bring in through tuition charges.

“This study finds that education and related spending is only a portion of many institutions’ budgets,” says a news release on the study, “and that many schools spend large amounts on things unrelated to educating students.”      http://chronicle.com/article/Colleges-Spend-Far-Less-on/127040/

The question lawmakers should be asking themselves is why society developed public universities and do those reasons still exist? In the rush to get past this moment in time lawmakers may be destroying the very economic engine, which would drive this country out of the economic famine that currently exists. While tuition is increased for students, the pay of college administrators remains hefty. Administrators are in effect pigs at the trough and should come under some scrutiny. Of course, if the current public universities were privatized, we wouldn’t have to worry about pigs still at the trough or would we? In a totally privatized university environment, administrators could be paid what the market will allow or the regents can go wink, wink at. Wait, wasn’t unfettered pay one element in the U.S. financial meltdown?

Related:

Choosing the right college for you                                                                  https://drwilda.wordpress.com/tag/the-college-affordability-and-transparency-center/

Many U.S. colleges use the ‘Common Application’                                        https://drwilda.wordpress.com/2012/05/15/many-u-s-colleges-use-the-common-application/

Dr. Wilda says this about that ©

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College Board’s ‘Big Future’: Helping low-income kids apply to college

19 Apr

In 3rd world America: The economy affects the society of the future, moi said:

One of the major contributors to poverty in third world nations is limited access to education opportunities. Without continued sustained investment in education in this country, we are the next third world country. All over the country plans are being floated to cut back the school year or eliminate programs which help the most disadvantaged. Alexander Eichler reports in the Huffington Post article, Middle-Class Jobs Disappearing As Workforce Shifts To High-Skill, Low-Skill: Study:

America is increasingly becoming a place of high- and low-skill jobs, with less room available for a middle class.

A new report from the Federal Reserve Bank of New York shows that over the past 30 years, the U.S. workforce has shifted toward high-paying jobs that require a great deal of education — jobs in the legal, engineering or technology industries, for example — and toward low-paying jobs that require little schooling, like food preparation, maintenance and personal care.

What haven’t fared so well are the industries in the middle, like sales, teaching, construction, repair, entertainment, transportation and business — the ones where a majority of Americans end up working.

In 1980, these middle-level jobs accounted for 75 percent of the workforce. By 2009, that number had fallen to 68 percent. In the same span of time, low- and high-skill jobs had each grown as a percentage of the workforce.

http://www.huffingtonpost.com/2011/11/21/middle-class-jobs_n_1105502.html?ref=email_share

So what future have the Goldman Sucks, cash sluts, and credit crunch weasels along with we don’t care, we don’t have to Washington Georgetown and Chevy Chase set – you know, the the “masters of the universe” left those on a race to get through college? Lila Shapiro has the excellent post, Trading Down: Laid-Off Americans Taking Pay Cuts and Increasingly Kissing Their Old Lives Goodbye at Huffington Post:

This government, both parties, has failed to promote the kind of economic development AND policy which creates liveable wage jobs. That is why Mc Donalds is popular for more than its dollar menu. They are hiring people.

https://drwilda.wordpress.com/2011/11/22/3rd-world-america-the-economy-affects-the-society-of-the-future/

The College Board announce the “Big Future” program:

College Board Introduces BigFuture.org, a Free Comprehensive College Planning Resource

The Education Conservancy, Educators and Students Collaborated in Effort to Help Overcome Obstacles to College

NEW YORK, April 10, 2012 /PRNewswire/ — On April 10, the College Board introduced BigFuture, its new free comprehensive college planning Web resource, at a panel discussion in Washington, D.C. The site was created with the Education Conservancy and in consultation with students and educators to help make the college planning process simpler and more accessible. At the “Big Future™: Narrowing the Gap Between College Aspiration and Enrollment” panel,education, government and not-for-profit thought leaders discussed ways to help students, especially those from low-income backgrounds or who are the first in their families to aspire to college,overcome obstacles to higher education.

“BigFuture is a major investment by the College Board to help improve the college planning process for students and families, and to provide more equal access to expert guidance,” said Gaston Caperton, president of the College Board. “Through our advocacy work to increase college completion rates in the United States, we have identified providing better college information and planning services to all students, with a special focus on low-income students, as one of 10 key recommendations for success. We’re excited about this collaboration with the Education Conservancy because it combines trusted guidance and reliable data with innovative and engaging technology.”

Lloyd Thacker, director of the Education Conservancy, moderated the panel, which included Zakiya Smith, senior advisor for education at the White House Domestic Policy Council; Daniel Domenech, executive director of the American Association of School Administrators; Brian Sponsler, associate director of research and evaluation for the Institute for Higher Education Policy; Laura Schifter, senior education and disability advisor on the Committee on Education and the Workforce; Rep. George Miller (D-CA); and Pat Martin, assistant vice president of the College Board’s National Office of School Counselor Advocacy. The event was hosted by the College Board Advocacy & Policy Center.

“The success of the BigFuture project reflects the special value collaboration can deliver to improving education,” said Thacker. “At its best, college admission is an interactive, educational process. Students learn about college; colleges learn about students; successful matches are made; college education in America becomes a reality for all who aspire to it. This site represents a significant step forward in establishing an admission system that exemplifies the best that education has to offer.”

BigFuture.org is a new Web experience that leverages new technologies to engage students online in the way they want to be engaged. This new resource combines guidance, tools and information to make college planning easier to navigate and help students overcome barriers that make college seem out of reach. BigFuture features interactive tools and content, including real student video stories and personalized action plans.

BigFuture replaces the College Board’s previous college planning website, which was a trusted resource and one of the most highly trafficked college planning websites available, used by more than six million students and parents each month. “This launch represents a new phase in the College Board’s service to students, building on more than 100 years of work aimed at expanding access to higher education,” Caperton said.

About the College Board
The College Board is a mission-driven not-for-profit organization that connects students to college success and opportunity. Founded in 1900, the College Board was created to expand access to higher education. Today, the membership association is made up of over 6,000 of the world’s leading educational institutions and is dedicated to promoting excellence and equity in education. Each year, the College Board helps more than seven million students prepare for a successful transition to college through programs and services in college readiness and college success — including the SAT® and the Advanced Placement Program®. The organization also serves the education community through research and advocacy on behalf of students, educators and schools. For further information, visit www.collegeboard.org.

About the Education Conservancy
The Education Conservancy (EC) is a not-for-profit organization committed to improving college admission in the public interest. Established in 2003, the EC directs national attention to the harmful effects of college rankings and other commercial influences in college admission, highlights the educational importance of college admission, orchestrates collaboration among colleges to serve the needs of students, and develops college planning resources for students, families and counselors. The EC’s work has been made possible through the generous support of philanthropic organizations and hundreds of schools, colleges and individuals. For more information, visit www.educationconservancy.org.

###

Contact:
College Board Communications Department
212-713-8052
communications@collegeboard.org

See, Admissions 101: Will new tool help low-income students tackle admissions?
http://www.washingtonpost.com/blogs/class-struggle/post/admissions-101-will-new-tool-help-low-income-students-tackle-admissions/2012/04/18/gIQAVGl8QT_blog.html

Education Week had this take on “Big Future” in the article, College Board Launches New Web Resource for Students by Caralee Adams:

The material was developed in collaboration with an advisory group of educators and Education Conservancy, a nonprofit based in Portland, Ore., focused on improving the admissions process.

This idea was to create an interactive, user-friendly resource in response to concerns that the college-admissions process is becoming increasingly complex and access to expert counseling is unequal. “All students deserve access to good guidance information and top-notch online information,” says Ben-Yoseph. “The goal to make the college process more accessible, simple, and easier to navigate.”

Students can get to much of the information on BigFuture without signing up, but to create a plan or save your work, users do need to create an account. Those with College Board accounts can use their existing user names and passwords. (College Board’s privacy policy states that it does not sell student names or their related information, except through the optional Student Search Service program.)

Rather than being static and listing 10 things to do each year in high school, BigFuture starts the process by asking the user some questions and tailoring the action to the individual’s interests.

When searching for colleges that match a student’s interest on BigFuture, the user can sort by filters such as location, majors, sports, diversity, and cost and give each a weight of importance on a sliding scale. College-profile information of nearly 4,000 institutions is collected by the College Board in its Annual Survey of Colleges. Note: The price includes tuition and fees, but not room and board.

Information throughout the site is provided in nugget-sized tips and one-minute videos with student stories such as how they decided about going to school in a city, what role extracurricular activities played in deciding a major, and putting together a financial-aid plan for college. There are also videos from experts addressing topics of college planning.

College Board envisions the audience for BigFuture to be as young as 8th graders. The content can be applicable for students of any age interested in higher education, said Ben-Yoseph. The hope is that the tool will be engaging enough that it is used across a student’s entire high school career and by school guidance counselors.

http://blogs.edweek.org/edweek/college_bound/2012/03/college_board_launches_new_web_resource_for_students.html

The best way to eliminate poverty is job creation, job growth, and job retention. The Asian Development Bank has the best concise synopsis of the link between Education and Poverty For a good article about education and poverty which has a good bibliography, go to Poverty and Education, Overview  There will not be a good quality of life for most citizens without a strong education system. One of the major contributors to poverty in third world nations is limited access to education opportunities. Without continued sustained investment in education, we are the next third world country.

Related:

Choosing the right college for you https://drwilda.wordpress.com/2012/04/15/choosing-the-right-college-for-you/

Producing employable liberal arts grads https://drwilda.wordpress.com/2012/04/01/producing-employable-liberal-arts-grads/

Remedial education in college https://drwilda.wordpress.com/2012/03/04/remedial-education-in-college/

Why go to college? https://drwilda.wordpress.com/2011/11/28/why-go-to-college/

Dr. Wilda says this about that ©

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Choosing the right college for you

15 Apr

Now that many students are receiving letters of acceptance from colleges, they are deciding which college is the best fit for them. Given the tight economy, cost is a major consideration. Beckie Supiano and Elyse Ashburn have written With New Lists, Federal Government Moves to Help Consumers and Prod Colleges to Limit Price Increases in the Chronicle of Higher Education about the Department of Education’s new site about college costs. The College Affordability and Transparency Center is useful for students who are applying to college. It allows parents and students to calculate the costs of various college options. Once the costs of various college options are considered, then other considerations come into the decision.

Danielle Moss Lee, president and chief executive officer of the Harlem Educational Activities Fund offers some great advice in the Washington Post article, Top 5 factors to weigh when picking a college (by May 1st deadline):

Here are the top five factors students across the country should be considering when making this critical decision:

1. Size. When it comes to choosing a college, it isn’t one-size-fits-all. There are significant differences between large and small colleges, and students need to decide what matters to them. Factors to consider include class size, teacher-to-student ratio, name recognition and what options are available on campus – research centers, sporting events, internship opportunities, clubs and organizations, course choices, faculty members and more.

2. Location. Part of the value of college is learning to live on your own, away from your family, and in a city you choose. Students should push themselves to learn how to be successful in a new environment but also still need a support system. Students should consider how far away they can be and still feel comfortable – for some it’s a short car or bus ride, for others it can be a cross-country flight.

3. Finances. Students and their families need to think carefully about the financial impact of their choices. With student loan debt above $1 trillion (surpassing credit card and auto-loan debt) students — especially those from low-income families like many students at the Harlem Educational Activities Fund — need to figure out what the numbers really mean. How much is need-based grant aid and how much is loan-based aid? What will it cost to travel to campus? What incidentals will be required? Will my mother or father need a second job? How many hours will I be allowed to work on campus?

4. Academic focus. Not every student knows what they “want to be when they grow up” and you don’t need to pick a major to pick a college. However, students should consider the variety of courses, curriculum and majors available.

5. ‘Expert’ opinion. Get some insight. Use your family and friends as a resource. Talk to the people you admire personally and professionally, as well as recent graduates who you might know, to find out what they consider the most important aspect of the college experience.

http://www.washingtonpost.com/blogs/answer-sheet/post/top-5-factors-to-weigh-when-picking-a-college-by-may-1st-deadline/2012/04/13/gIQAOAH4FT_blog.html

Once the decision is made to attend a particular college, the thought turns to how to cut the costs of college.

One way to cut the cost of college is to save on textbooks. Fin Aid’s article, Cutting the Cost of College Textbooks makes some useful suggestions.

There are several methods of saving money on textbook costs. These methods can typically save as much as half the cost of buying new textbooks from the college bookstore.

  • Buy used textbooks. The used textbooks may have notes in the margins, but sometimes this can be beneficial. Used textbooks often cost half the price of a new textbook.
  • Buy new textbooks and sell the textbooks back to the college bookstore at the end of the semester. The savings range from a quarter to half the cost of a new textbook. You will get more for your used textbook if you keep it in good condition. Your ability to sell the textbooks back to the bookstore depends on whether the same textbook will be used the next time the class is offered. The main drawback from reselling the textbook is that you won’t be able to keep the textbook.
  • Rent the textbook. Like selling the book back to the bookstore, this doesn’t let you keep the textbook. Usually this costs more than the net cost of buying a new textbook and selling it at the end of the semester.
  • Shop around for the best price on the textbook. Often you can buy the book online for a significant discount. The ISBN number listed in the course syllabi and class schedules help you find the same edition online. (If the syllabus doesn’t list the ISBNs for the books, you can find them on the publisher’s web site. Also look on the publisher’s web site for alternate formats that are less expensive, such as softcover editions and ebooks.) Many online bookstores that sell textbooks will deliver the textbooks in one or two days for free. Online bookstores and comparison tools are listed below.
  • Compare the latest edition of a textbook with the older edition. Sometimes the changes aren’t significant enough that you need to get the new edition, and older editions are often much less expensive on the used market. The main drawback is sometimes the page numbering is different in the latest edition, making it more difficult to identify the reading assignments.
  • Buy the ebook version of the textbook. Ebooks will save you some money over the cost of a print textbook, although not as much as you might expect. Ebooks also aren’t a perfect solution. Page numbers are different and more fluid than in the print versions of a textbook. Ebook readers like the Kindle DX are just as readable as print textbooks, especially outdoors, but currently can’t display color diagrams. The Apple iPad can display color diagrams, but the backlighting can cause eyestrain and is more difficult to read outdoors. Taking notes on an ebook is more difficult than writing a note in the margin on a print textbook or highlighting a passage. On the other hand, you can carry all of your ebooks on a single lightweight device.
  • Buy a re-imported international edition of the textbook. Publishers sell their textbooks at a much lower cost in other countries. However, the bindings are usually much flimsier and the page numbering may differ from the US editions.

http://www.finaid.org/questions/textbooks.phtml

Jenny L. Phipps of Bankrate.Com offers additional suggestions in Cutting the Cost of College Incidentals:

18 ways to cut the cost of college incidentals

1.

 Read the bill carefully.

2.

 Don’t get caught in a feeing frenzy.

3.

 Beware too much health care.

4.

 Go on a dorm-dining diet.

5.

 Pay on time.

6.

 Know the financial aid bottom line.

7.

 Vet the class schedule.

8.

 Look for ways to get ahead.

9.

 Consider cheaper alternatives.
10. Transfer advance-placement credits.
11. Buy smart.
12. Decorate creatively.
13. Forget the phone.
14. Eat at home.
15. Buy used books.
16. Look for cheap travel.
17. Devise a money delivery system.
18. Be sure the price is worth it.

http://www.bankrate.com/brm/news/college/cfguide/misc-costs1.asp

Congratulations on your acceptance into college. Now the real work begins.

Related:

Five Ways to Cut the Cost of College                                          http://www.cnbc.com/id/41626500/Five_Ways_to_Cut_the_Cost_of_College

Secrets to paying for college                                      http://money.cnn.com/2012/03/27/pf/college/tuition-costs.moneymag/index.htm

Dr. Wilda says this about that ©

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Can free online universities change the higher education model?

23 Jan

The Pew Research Center has a recent report, Is College Worth It?

Executive Summary

This report is based on findings from a pair of Pew Research Center surveys conducted this spring. One is a telephone survey taken among a nationally representative sample of 2,142 adults ages 18 and older. The other is an online survey, done in association with the Chronicle of Higher Education, among the presidents of 1,055 two-year and four-year private, public and for-profit colleges and universities. (See the our survey methodology for more information.)

Here is a summary of key findings from the full report:

Survey of the General Public

Cost and Value. A majority of Americans (57%) say the higher education system in the United States fails to provide students with good value for the money they and their families spend. An even larger majority (75%) says college is too expensive for most Americans to afford. At the same time, however, an overwhelming majority of college graduates (86%) say that college has been a good investment for them personally.

Monetary Payoff. Adults who graduated from a four-year college believe that, on average, they are earning $20,000 more a year as a result of having gotten that degree. Adults who did not attend college believe that, on average, they are earning $20,000 a year less as a result. These matched estimates by the public are very close to the median gap in annual earnings between a high school and college graduate as reported by the U.S. Census Bureau in 2010: $19,550. A more detailed Pew Research Center analysis (see Chapter 5, “The Monetary Value of a College Education,” in the full report for more information) shows that this gap varies by type of degree and field of study.

Student Loans. A record share of students are leaving college with a substantial debt burden, and among those who do, about half (48%) say that paying off that debt made it harder to pay other bills; a quarter say it has made it harder to buy a home (25%); and about a quarter say it has had an impact on their career choices (24%).

Why Not College? Nearly every parent surveyed (94%) says they expect their child to attend college, but even as college enrollments have reached record levels, most young adults in this country still do not attend a four-year college. The main barrier is financial. Among adults ages 18 to 34 who are not in school and do not have a bachelor’s degree, two-thirds say a major reason for not continuing their education is the need to support a family. Also, 57% say they would prefer to work and make money and 48% say they can’t afford to go to college.

Split Views of College Mission. Just under half of the public (47%) says the main purpose of a college education is to teach work-related skills and knowledge, while 39% say it is to help a student grow personally and intellectually; the remainder volunteer that both missions are equally important. College graduates place more emphasis on intellectual growth; those who are not college graduates place more emphasis on career preparation.

For Most College Graduates, Missions Accomplished. Among survey respondents who graduated from a four-year college, 74% say their college education was very useful in helping them grow intellectually, 69% say it was very useful in helping them grow and mature as a person, and 55% say it was very useful in helping them prepare for a job or career.

Above All, Character. While Americans value college, they value character even more. Asked what it takes for a young person to succeed in the world, 61% say a good work ethic is extremely important and 57% say the same about knowing how to get along with people. Just 42% say the same about a college education.

Beckie Supiano and Elyse Ashburn have written With New Lists, Federal Government Moves to Help Consumers and Prod Colleges to Limit Price Increases in the Chronicle of Higher Education about the U.S. Department of Education’s new site about college costs. As college becomes more unaffordable for more and more people, they are looking at alternatives to college.

Jon Marcus reports in the Washington Post article, Online course start-ups offer virtually free college:

An emerging group of entrepreneurs with influential backing is seeking to lower the cost of higher education from as much as tens of thousands of dollars a year to nearly nothing.

These new arrivals are harnessing the Internet to offer online courses, which isn’t new. But their classes are free, or almost free. Most traditional universities have refused to award academic credit for such online studies.

Now the start-ups are discovering a way around that monopoly, by inventing credentials that “graduates” can take directly to employers instead of university degrees.

“If I were the universities, I might be a little nervous,” said Alana Harrington, director of Saylor.
org, a nonprofit organization based in the District. Established by entrepreneur Michael Saylor, it offers 200 free online college courses in 12 majors.

Another nonprofit initiative is Peer-to-Peer University, based in California. Known as P2PU, it offers free online courses and is supported by the Hewlett Foundation and Mozilla, the company behind the Firefox Web browser.

A third is University of the People, also based in California, which offers more than 40 online courses. It charges students a one-time $10 to $50 application fee. Among its backers is the Clinton Global Initiative.

The content these providers supply comes from top universities, including the Massachusetts Institute of Technology, the University of California at Berkeley, Tufts University and the University of Michigan. Those are among about 250 institutions worldwide that have put a collective 15,000 courses online in what has become known as the open-courseware movement.

The universities aim to widen access to course content for prospective students and others. At MIT, a pioneer of open courseware, half of incoming freshmen report that they’ve looked at MIT online courses and a third say it influenced their decision to go there.

http://www.washingtonpost.com/local/education/online-course-startups-offer-virtually-free-college/2012/01/09/gIQAEJ6VGQ_story.html?wpisrc=emailtoafriend

The New York Times reported about the online education trend in the article, Online Enterprises Gain Foothold as Path to a College Degree http://www.nytimes.com/2011/08/25/education/25future.html?_r=1&emc=eta1

Many free online colleges are not accredited. As an example, University of the People states this in their catalog:

RECOGNITION

At present, University of the People is not an accredited institution. The University is in the process of preparing the necessary materials to apply for accreditation from an agency recognized by the U. S. Department of Education. At this time no assurances can be given as to when, or if, accreditation might be granted.

University of the People offers the following four degrees: Associate (A.S.) and Bachelor (B.S.) degrees in Computer Science and Associate (A.S.) and Bachelor (B.S.) degrees in Business Administration.

University of the People does not have a pending petition in bankruptcy, is not operating as a debtor in possession, has not filed a petition within the preceding five years, and has not had a petition in bankruptcy filed against it within the preceding five years that resulted in a reorganization under Chapter 11 of the United States Bankruptcy Code (11 U.S.C. Sec. 1101 et. seq.).

NOTICE CONCERNING THE TRANSFERABILITY OF CREDITS AND CREDENTIALS EARNED AT OUR INSTITUTION

The transferability of credits you earn at University of the People is at the complete discretion of an institution to which you may seek to transfer. Acceptance of the degree you earn in either the Computer Science or Business Administration program is also at the complete discretion of the institution to which you may seek to transfer. If the credits or degree that you earn at this institution are not accepted at the institution to which you seek to transfer, you may be required to repeat some or all of your course work at that institution. For this reason you should make certain that your attendance at this institution will meet your educational goals. This may include contacting an institution to which you may seek to transfer after attending University of the People to determine if your credits or degree will transfer.

Contact Information

For questions or comments, please contact: info@uopeople.org

http://www.uopeople.org/files/Pdf/university_catalog.pdf

Before signing-up for any course of study, people must investigate the claims of the institution of higher learning regarding graduation rates and placement after completion of the degree. The U.S. Department of Education has an accredidation database and you can always check with the department of education for your state. Back to College has a good explanation of College Accredidation: Frequently Asked Questions

Often these online ventures will offer a certificate or badge to show completion of a course of study. Education Portal defines the difference between a certificate and diploma:

Certificate Overview

A certificate is earned by a student after taking a series of courses relating to a subject. Students often earn certificates to get a step ahead in the professional field of their interest and certificates may be offered in similar programs as degrees. For instance, there are certificates in business, literature and technical programs. In some technical programs, a certificate may be required.

There are also graduate certificates, often taken either alone or alongside a graduate degree program. In some programs, the student may use his or her electives to fulfill a certificate in order to make him or herself more desirable to a potential employer.

Certificate programs taken alone are similar to associate’s degree programs. However, they take less time because core academic programs are not required.

Diploma Overview

Diplomas are similar to certificates but often earned at clinical schools. For instance, a diploma of nursing is offered as an option besides an associate’s degree or bachelor’s degree. This diploma program is only offered at hospitals with specialty programs that provide training. A diploma often takes two years and involves as much clinical work as classroom.

Degree Overview

An academic degree can be earned at many levels, including associate’s, which takes two years, bachelor’s, which takes four years, master’s, which is two years beyond a bachelor’s degree, and doctoral, which is several years beyond a master’s degree.

A degree program differs from certificates and diploma programs in that it often requires the student to take core courses to support a more rounded education. For instance, at many universities, those earning their bachelor’s degree are required to take English, math, science, philosophy and history. Earning a degree also opens up many more potential doors to the student than would a certificate or diploma. Many careers require that the student has earned at least a bachelor’s degree; several career options require more than this. http://education-portal.com/articles/What_is_the_Difference_Between_a_Certificate_Diploma_and_Degree.html

Some online universities are awarding badges.

Lynn O’Shaughnessy reports in the U.S. News article, Digital Badges Could Significantly Impact Higher Education:

The John D. and Catherine T. MacArthur Foundation recently announced that it was launching a competition that will award $2 million to companies and organizations that can develop workable digital badges and badge systems.

The digital badge concept has gained friends in lofty places. U.S. Secretary of Education Arne Duncan, NASA administrator Charles Bolden and other high-level business, philanthropic, and technology leaders attended the kick off of the digital badge competition announcement. Duncan, who called the digital badges a “game-changing strategy,” had this to say: “Badges can help engage students in learning, and broaden the avenues for learners of all ages to acquire and demonstrate—as well as document and display—their skills.”

Americans could earn badges through skills and knowledge that they get in a variety of ways including informally, through their workplace, open courseware and other online classes, and even traditional colleges.

http://www.usnews.com/education/blogs/the-college-solution/2011/10/04/digital-badges-could-significantly-impact-higher-education

With any education opportunity the prospective student and their family must do their homework and weigh the pros and cons of the institution with with the student’s goals and objectives

Dr. Wilda says this about that ©

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The International Baccalaureate program and vocational students

29 Nov

There is an “arms race” going on in American Education. More people are asking whether college is the right choice for many. The U.S. has de-emphasized high quality vocational and technical training in the rush to increase the number of students who proceed to college in pursuit of a B.A. Often a graduate degree  follows. The Harvard paper, Pathways to Prosperity argues for more high quality vocational and technical opportunities:

The implication of this work is that a focus on college readiness alone does not equip young people with all of

the skills and abilities they will need in the workplace, or to successfully complete the transition from adolescence

to adulthood. This was highlighted in a 2008 report published by Child Trends, which compared research on the competencies required for college readiness, workplace readiness and healthy youth development. The report found significant overlaps. High personal expectations, self-management, critical thinking, and academic achievement are viewed as highly important for success in all three areas. But the report also uncovered some striking differences. For instance: while career planning, previous work experience, decision making, listening skills, integrity, and creativity are all considered vital in the workplace, they hardly figure in college readiness.

http://www.gse.harvard.edu/news_events/features/2011/Pathways_to_Prosperity_Feb2011.pdf

There is a reluctance to promote vocational opportunities in the U.S. because the is a fear of tracking individuals into vocational training and denying certain groups access to a college education. The comprise could be a combination of both quality technical training with a solid academic foundation. Individuals may have a series of careers over the course of a career and a solid foundation which provides a degree of flexibility is desired for survival in the future. See, Why go to college? https://drwilda.wordpress.com/2011/11/28/why-go-to-college/

Michael Alison Chandler is reporting in the Washington Post story, New college-prep IB program could be offered to technical students about giving vocational students the opportunity to participate in the International Baccalaureate program.

America’s high schools have historically separated students who learn technical skills from those studying the liberal arts, preparing them for distinct futures.

Education reform over the past three decades has centered on undoing such tracking and strengthening the academic foundation for everyone, thanks to an economy that demands ever higher education for almost any job. Still, experts say there remains too wide a gulf between many career-oriented programs and a broader degree.

A new college-preparatory International Baccalaureate curriculum designed for students pursuing career or technical education aims to bridge the gap. Rockville High has applied to the Geneva-based IB organization to offer an “IB career-related certificate” in future years. If the application is approved, Rockville will become one of the first high schools in the country to offer what some educators are calling a cutting-edge fusion of college and career preparation….

The new program could produce more articulate and creative engineers and computer scientists, its proponents say. The rigor and prestige of IB also could lend esteem and an inroad to college for occupational training programs not typically associated with higher learning, such as cosmetology or construction. http://www.washingtonpost.com/local/education/new-college-prep-ib-program-could-be-offered-to-technical-students/2011/11/21/gIQAareS6N_story.html

Traditionally, students in vocational training programs have not been afforded access to intensive academic programs like the International Baccalaureate while they are pursuing vocational training.

The International Baccalaureate Organization designs the international baccalaureate diploma

The curriculum

IB Diploma Programme students study six courses at higher level or standard level. Students must choose one subject from each of groups 1 to 5, thus ensuring breadth of experience in languages, social studies, the experimental sciences and mathematics. The sixth subject may be an arts subject chosen from group 6, or the student may choose another subject from groups 1 to 5.

In addition the programme has three core requirements that are included to broaden the educational experience and challenge students to apply their knowledge and understanding.

The extended essay is a requirement for students to engage in independent research through an in-depth study of a question relating to one of the subjects they are studying.

Theory of knowledge is a course designed to encourage each student to reflect on the nature of knowledge by critically examining different ways of knowing (perception, emotion, language and reason) and different kinds of knowledge (scientific, artistic, mathematical and historical).

Creativity, action, service requires that students actively learn from the experience of doing real tasks beyond the classroom. Students can combine all three components or do activities related to each one of them separately.

Read more on the Diploma Programme curriculum

Tamar Lewin has a great article in the New York Times which describes the International Baccalaureate program. In International Program Catches On In U.S. Schools Lewin reports:   

The alphabet soup of college admissions is getting more complicated as the International Baccalaureate, or I.B., grows in popularity as an alternative to the better-known Advanced Placement program.

The College Board’s A.P. program, which offers a long menu of single-subject courses, is still by far the most common option for giving students a head start on college work, and a potential edge in admissions.

The lesser-known I.B., a two-year curriculum developed in the 1960s at an international school in Switzerland, first took hold in the United States in private schools. But it is now offered in more than 700 American high schools — more than 90 percent of them public schools — and almost 200 more have begun the long certification process.

Many parents, schools and students see the program as a rigorous and more internationally focused curriculum, and a way to impress college admissions officers.

To earn an I.B. diploma, students must devote their full junior and senior years to the program, which requires English and another language, math, science, social science and art, plus a course on theory of knowledge, a 4,000-word essay, oral presentations and community service….

“Our students don’t have as much diversity as people in some other areas, so this makes them open their eyes,” said Deb Pinkham, the program’s English teacher.

The I.B. program is used in 139 countries, and its international focus has drawn criticism from some quarters.

Some parents say it is anti-American and too closely tied to both the United Nations and radical environmentalism. From its start in 1968 until 1976, the program was financed partly by Unesco. It is now associated with the United Nations Economic and Social Council, and until recently it endorsed the Earth Charter, a declaration of principles of sustainability that originated at the United Nations.

“When there is a program at the school with a specific agenda, which in this case is the United Nations agenda, I have a problem with it,” said Ann Marie Banfield, who unsuccessfully opposed the adoption of the I.B. program in Bedford, N.H.

Others object to its cost — the organization charges $10,000 a year per school, $141 per student and $96 per exam — and say it is neither as effective as the A.P. program nor likely to reach as many students.

“We have 337 kids, and 80 of them take at least one of our 16 A.P. classes,” said John Eppolito, a parent who opposes the planned introduction of the I.B. in Incline Village, Nev. “If we switched to the I.B., the district estimates that 15 kids would get a I.B. diploma in two years.”

I.B. opponents have created a Web site, truthaboutib.com, to serve as a clearinghouse for their views.

Many schools, and many parents, see the I.B. partly as a way to show college admissions offices that students have chosen a rigorous program, with tests graded by I.B. examiners around the world….

One of the educators interviewed in the Lewin article observed that the IB program might be better suited for kids who are more creative and either are not as good or do not like to memorize.

There shouldn’t be a one size fits all in education and parents should be honest about what education options will work for a particular child. Even children from the same family may find that different education options will work for each child.

Resources:

Vocational Education Myths and Realities

http://www.fape.org/idea/How_it_works/voced_myths_8.html

Vocational Education in the United States, The Early 1990s

http://nces.ed.gov/pubs/web/95024-2.asp

Dr. Wilda says this about that ©




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Why go to college?

28 Nov

Adam Davidson has written an interesting New York Times article, It’s the Economy: The Dwindling Power of a College Degree:

A general guideline these days is that people are rewarded when they can do things that take trained judgment and skill — things, in other words, that can’t be done by computers or lower-wage workers in other countries. Money now flows around the world so quickly, and technology changes so fast, that people who thought they were in high demand find themselves uprooted. Many newspaper reporters have learned that their work was subsidized, in part, by classified ads and now can’t survive the rise of Craigslist; computer programmers have found out that some smart young guys in India will do their jobs for much less. Meanwhile, China lends so much money to the United States that mortgage brokers and bond traders can become richer than they ever imagined for a few years and then, just as quickly, become broke and unemployed.

One of the greatest changes is that a college degree is no longer the guarantor of a middle-class existence. Until the early 1970s, less than 11 percent of the adult population graduated from college, and most of them could get a decent job. Today nearly a third have college degrees, and a higher percentage of them graduated from nonelite schools. A bachelor’s degree on its own no longer conveys intelligence and capability. To get a good job, you have to have some special skill — charm, by the way, counts — that employers value. But there’s also a pretty good chance that by some point in the next few years, your boss will find that some new technology or some worker overseas can replace you.

Though it’s no guarantee, a B.A. or some kind of technical training is at least a prerequisite for a decent salary. It’s hard to see any great future for high-school dropouts or high-school graduates with no technical skills. They most often get jobs that require little judgment and minimal training, like stocking shelves, cooking burgers and cleaning offices. Employers generally see these unskilled workers as commodities — one is as good as any other — and thus each worker has very little bargaining power, especially now that unions are weaker. There are about 40 million of these low-skilled people in our work force. They’re vying for jobs that are likely to earn near the minimum wage with few or no benefits, and they have a high chance of being laid off many times in a career.

http://www.nytimes.com/2011/11/27/magazine/changing-rules-for-success.html?_r=1&emc=eta1

The societal push the last few years has been to have more kids go to college. Quite often schools are ranked on the percentage of kids that go directly to college from high school. So, counselors are following cultural cues they have received from administrators, parents, and the media.

Chris Stout lists Top Five Reasons to Go to College Stout places the emphasis on the college experience and the fact that college is not just a place for possible career training. Forbes. Com published Five Reasons Not to Go to College Some people discover their passion earlier in life than others. Forbes.Com addresses its comments at those folks. The calculation is that if one already knows what they want to do, college could be an unnecessary detour. A US News and World Report article estimated the value of a college degree

Amanda Paulson of the Christian Science Monitor has a great article, Does Everyone Need A College Degree? Maybe Not Says Harvard Study about a new Harvard study.   

A new report released by Harvard Wednesday states in some of the strongest terms yet that such a “college for all” emphasis may actually harm many American students – keeping them from having a smooth transition from adolescence to adulthood and a viable career.

“The American system for preparing young people to lead productive and prosperous lives as adults is clearly badly broken,” concludes the report, “Pathways to Prosperity” (pdf).

Marcus Wohlsen of AP has posted the article, Tech Mogul Pays Bright Minds Not to Go to College at Seattle PI.Com. Wohlsen reports that tech tycoon Peter Thiel has set up a scholarship which two dozen gifted young people $100,000 not to go to college but to become entrepreneurs for the next two years.

A college degree is no guarantee of either employment or continued employment. Still, because of the economic uncertainty there is an “arms race” in education. Laura Pappano is reporting in the New York Times article, The Master’s As the New Bachelor’s

Call it credential inflation. Once derided as the consolation prize for failing to finish a Ph.D. or just a way to kill time waiting out economic downturns, the master’s is now the fastest-growing degree. The number awarded, about 657,000 in 2009, has more than doubled since the 1980s, and the rate of increase has quickened substantially in the last couple of years, says Debra W. Stewart, president of the Council of Graduate Schools. Nearly 2 in 25 people age 25 and over have a master’s, about the same proportion that had a bachelor’s or higher in 1960.

Great Schools has a concise overview of various options should a child decide they do not want to go from high school to a four year college. What if Your Teen Wants to Skip College There are several options. Options include a gap year, trade school, vocational school, community college, and for some the military. The only option that should be off the table is to do nothing.

Whether a person chooses to attend a four year college after high school is a very personal decision and there is no one right answer. One thing the current economic climate has taught many is there are no guarantees in life, even with a college degree. The trades may offer some a means to earn a living and a fulfilling life.

Follow your passion, and success will follow you.
— Arthur Buddhold

There are no easy answers in the current economic climate.

Resources:

  1. A publication by the government Why Attend College? Is a good overview
  2. Article in USA Today about gap year
  3. gap year articles
  4. Advantages of Going to a Vocational School
  5. Vocational School Accreditation
  6. Accredidation Commission of Career Schools and Colleges of Technology
  7. The Federal Trade Commission has Choosing A Career Or Vocational School
  8. How to Choose a Vocational School
  9. How to Choose The Best Trade School


Dr. Wilda says this about that ©

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The changing world of textbooks

24 Nov

As the cost of a college education rises, everyone is looking at ways to reduce cost so that more students are not priced out of a college education. Allen Grove has a good article at About.Com which gives some reasons for Why College Books Cost So Much? There are ways to cut down the cost associated with college text books. If possible, one can buy used texts. Another way to cut costs is to rent texts. Rhiana Jones’ article Top Three Online Sites to Rent College Texts At a Discount compares three text rental sites. Paul Michael has some tips for going online to find discounted texts at How to Find the Cheapest College Textbooks

Christopher F. Schuetze is reporting in the New York Times article, Textbooks Finally Take a Big Leap to Digital:

Amazon, which got its start selling books online, announced this year that, for the first time, its digital books had outsold paper books. This trend of going digital does not hold true for all books: While many popular consumer books have successfully made the switch into the new format, textbooks are still widely read on paper….

Digital textbooks are any books that can be downloaded to an e-reader or computer or those that can be read online using a Web browser. While no one keeps precise numbers of digital textbook sales globally, a number of companies have seen similar growth patterns and nearly identical market share.

According to the Student Monitor, a private student market research company based in New Jersey, about 5 percent of all textbooks acquired in the autumn in the United States were digital textbooks. That is more than double the 2.1 percent of the spring semester.

Simba Information, a research company specializing in publishing, estimates that electronic textbooks will generate $267.3 million this year in sales in the United States. That is a rise of 44.3 percent over last year. The American Association of Publishers estimates that the college textbooks industry generated a total of $4.58 billion in sales last year….

Students say digital rentals can be good and bad.

“It was cheaper than actually buying the book,” said Rebecca Johnson, a senior at George Mason University, who bought her first electronic textbook during her junior year. She paid about 50 percent less for her digital textbook, which she bought directly from the publisher. But she pointed out that the digital version was not permanent.

“You have it for that class time, but you don’t have it forever,” Ms. Johnson said. Her textbook expired 180 days after she purchased it.

Jill Ambrose, the chief marketing officer at CourseSmart, says sections of rental books can often be printed off and kept. Also, most publishers will make the printed version of the textbook available at a big discount to students who have purchased the digital version.

For some students, the limited-time access can represent a real downside to digital books.

http://www.nytimes.com/2011/11/24/world/americas/schoolwork-gets-swept-up-in-rush-to-go-digital.html?emc=eta1

The biggest downside to renting seems to be access to material after the rental period has expired unless a new fee is paid. Also, there are technology issues for users who do not access the material in a linear manner, but instead jump around in the use of the material.

Cristian Salazar of the Washington Post reports that initial results from test projects of college textbook rentals may not be promising. In the article, College Textbook Rental Pilot Might Not Be Making The Grade Seems like institutional barriers to entry and to reform, as well as a calcified culture are prevalent in the textbook rental market, just like in many areas of education.

The U.S. Congress has conducted a study of text book pricing:

Study on the Affordability of College Textbooks

·         TURN THE PAGE: MAKING COLLEGE TEXTBOOKS MORE AFFORDABLE, MAY 2007 PDF

·         Congressional Letter Authorizing Textbook Study PDF

·         Textbook Study Fact Sheet PDF

·         An Economic Analysis of Textbook Pricing and Textbook Markets by Dr. James V. Koch PDF

·         A Generational Opportunity: A 21st Century Learning Content Delivery System, By Mr. Patrick McElroy PDF

·         US Government Accountability Office Report: College Textbooks, July 2005 PDF

·         Table of State Legislation Pertaining to Textbook Affordability, 2004-2007 MS Word

Textbook Study Hearing Information Contact the Committee: ACSFA@ed.gov
Advisory Committee on Student Financial Assistance

The publishing world is evolving.

Dr. Wilda says this about that ©

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The 1% is maintaining the status quo: Colleges return to early admissions

22 Nov

There is an “arms race” in education from granting more advanced degrees to colleges vying for top undergraduate students. One weapon to attract top students has been the admissions policy of “early admission.” There is a difference between “early admission” and “early decision” according to the College Board:

Early decision plans are binding—a student who is accepted as an ED applicant must attend the college. Early action plans are nonbinding—students receive an early response to their application but do not have to commit to the college until the normal reply date of May 1. Counselors need to make sure that students understand this key distinction between the two plans: binding is binding.

There are reasons why colleges prefer the process and why for a time top institutions like Harvard and Princeton abandoned the process for a time.

The Daily Princetonian described some of the issues involving the “early admission” process in the September 18th, 2006 article, An unfair process: Princeton should follow Harvard in dropping the early admission option:

Perhaps the biggest problem with the early admissions process is that it tends to favor wealthier students at elite high schools. Many schools — Princeton included — tend to accept a higher percentage of students who apply early. Yet, students in need of financial aid have a huge disincentive to apply early because it prevents them from comparing financial aid and scholarship options. At the same time, students from schools with more established college advising programs are given a head start in applying for admissions and are often more aware of early admission programs to begin with. As interim Harvard president Derek Bok put it, early decision programs tend to “advantage the advantaged.”

Early admission programs also hurt students because they encourage increased gamesmanship in the college admission process. High schools seniors are encouraged to choose the most selective school on their list of schools to apply to, instead of taking the time to consider which schools are really their best matches.

http://www.dailyprincetonian.com/2006/09/18/15809/

Princeton did drop “early admission” for a time.

There are about 400 colleges which offer early admission The College Board also has an excellent time line for those who may be seeking early admission. Inside Higher Education has an article about the Harvard and Princeton decision to return to early admission. In, Surrender to Early Admissions Scott Jaschik writes:

In the fall of 2006, first Harvard University, then Princeton University, and then the University of Virginia announced that they would end programs in which applicants applied earlier than the regular deadline — and also found out months early whether they had been admitted. With those decisions by elite institutions, the many critics of early admissions policies thought that they had momentum to end practices that many saw as creating needless anxiety and favoring wealthy applicants.

That momentum never materialized — and other colleges and universities did not abandon their early programs….

Many colleges also reported that their early applicants were more likely than those in the regular pool to be white, wealthy and from good high schools. That’s not surprising, of course, since those who would need to compare financial aid packages from different colleges would be hesitant to pledge to enroll at one college before seeing all available aid packages. A series of articles — most notably a 2001 piece by James Fallows in The Atlantic Monthly — led to much hand-wringing at admissions gatherings about early admissions being out of control.

Even as educators talked about all of the downsides of early admissions, applicants from good high schools continued to apply early in greater and greater numbers — until Harvard and then others announced their shifts. In restoring early action, both Harvard and Princeton stressed that they believed they could offer an early option without placing any groups of students at a disadvantage.

See, Harvard and Princeton Restore Early Admission

Eric Hoover is reporting in the Chronicle of Higher Education article, The Flock of Early Birds Keeps Growing about the return of prestige colleges to “early admission.”

In 2007, Georgetown University’s admissions staff expected a flood, and it got one. The university received 6,000 early-admission applications, a 31-percent increase from the previous year.

The rise was striking, but not shocking. After all, three of Georgetown’s high-profile competitors—Harvard and Princeton Universities, and the University of Virginia—had eliminated their early-admission programs that year. Scores of eager, high-achieving students apparently jumped into Georgetown’s nonbinding “early-action” pool instead. More and more applications came each year after that, climbing to 6,658 in 2010.

But this fall would be different. At least that’s what Charles A. Deacon predicted after Harvard, Princeton, and Virginia reinstated early-admission programs this year. The two Ivy League universities adopted restrictive early-action policies that bar applicants from applying early to other private colleges. So Mr. Deacon, Georgetown’s dean of admissions, suspected that his university would see early-action applications drop by as much as 30 percent.

That didn’t happen. Georgetown’s final tally was 6,750 applications, a handful more than last year. “The question is, Why hasn’t the same change reversing the increase of four years ago occurred?” Mr. Deacon says. “It just becomes ever less predictable.”

Another early-admission season is winding down, and this one has a back-to-the-future vibe. The same three institutions that had won praise for abandoning their early-admission programs became symbols of application-saturation this fall. Princeton received 3,547 early applications—nearly three times the number of seats in its freshman class. Virginia, which has a nonrestrictive early-action program like Georgetown, received 11,417 early applications; that’s about 9,000 more than the university saw back in 2007, when it had a binding early-decision program. As of Friday afternoon, Harvard had yet to announce its total, but it’s safe to guess that the number is gigantic…

http://chronicle.com/blogs/headcount/the-flock-of-early-birds-keeps-growing/29334?sid=pm&utm_source=pm&utm_medium=en

CBS. News has early admission statistics in the article, Early Decision Applications Are Soaring: Here’s Why by Lynn O’Shaughnessy.

2011-2012 Early Decision Statistics

Percentage increase or decrease in early decision applications from last year:

  • Amherst College -5%
  • Bates College 4%
  • Brown University -3%
  • Bowdoin College 10%
  • Bucknell College 30%
  • Columbia University 8%
  • Dartmouth College 12%
  • Dickinson College 15%
  • Duke University 14%
  • Elon University -15%
  • George Washington U. 19%
  • Haverford College 14%
  • Johns Hopkins U. 14%
  • Lehigh University 14%
  • Middlebury College < 1%
  • Northwestern U. 26%
  • U. of Pennsylvania 18%
  • Pomona College <1%
  • U. of Rochester 0%
  • Sarah Lawrence 15%
  • Vanderbilt U. 30%
  • Virginia Tech <1%
  • Williams College 1%

2011-2012 Early Action Statistics

Percentage increase or decrease in early action applications from last year:

  • University of Chicago 18.5%
  • Emerson College 11%
  • Fordham University 8%
  • MIT 14%
  • Santa Clara U. 27%
  • Villanova U. 25%
  • Boston College 7%
  • Stanford U. 7%
  • Yale University < 1%

http://www.cbsnews.com/8301-505145_162-37243644/early-decision-applications-are-soaring-heres-why/

“Early admission” seems to be one element of the growing income inequality in America.

Resources:

Harvard, Princeton return to early admission by Daniel de Vise http://voices.washingtonpost.com/college-inc/2011/02/harvard_returns_to_early_actio.html

The College Board’s Early Decision & Early Action The benefits and drawbacks of applying early http://professionals.collegeboard.com/portal/site/Professionals/menuitem.b6b1a9bc0c5615493883234011a161ca/?vgnextoid=eb6ccf9a10494110vcm-02000000aaa514acRCRD&vgnextchannel=7c72247eb2814110VgnVCM200000121a16acRCRD&vgnextfmt=print

Debating Legacy Admissions at Yale, and Elsewhere by Jenny Anderson http://thechoice.blogs.nytimes.com/2011/04/29/legacy-2/

Dr. Wilda says this about that ©


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3rd world America: College increasingly out of reach

27 Oct

Moi really doesn’t know what to make of the idea of privatizing state universities.  In the recent past, government had the goal of raising the standard of living and producing the economic conditions that fostered livable wage jobs. The goal of most politicians was to create the conditions that promoted and fostered a strong middle class. Particularly, after WWII and the Korean War, with the G.I Bill, one part of that equation was the wide availability of a college education. This push produced an educated workforce and a college education was within reach, no matter one’s class or social status. This educated workforce helped drive this country’s prosperity. Now, have we lost the goal of providing educational opportunity the widest number of people possible, no matter their class or social status? This question causes moi to wonder about privatizing state universities.

Sam Dillion was writing about the prospect of privatizing public universities in the New York Times in 2005. See, At Public Universities, Warnings of Privatization In 2004, William Symonds wrote an opinion piece in Business Week about the role of public universities 

Justin Pope, AP Education Writer details just how fast college costs are rising all over the country in the article, College prices up again as states slash budgets:

Average in-state tuition and fees at four-year public colleges rose an additional $631 this fall, or 8.3 percent, compared with a year ago.

Nationally, the cost of a full credit load has passed $8,000, an all-time high. Throw in room and board, and the average list price for a state school now runs more than $17,000 a year, according to the twin annual reports on college costs and student aid published Wednesday by the College Board.

http://www.time.com/time/nation/article/0,8599,2097835,00.html

Prospective students and families will not only have to worry about getting into college, but finding a way to pay for college.

Beckie Supiano and Elyse Ashburn have written With New Lists, Federal Government Moves to Help Consumers and Prod Colleges to Limit Price Increases in the Chronicle of Higher Education about the Department of Education’s new site about college costs. The College Affordability and Transparency Center is useful for students who are applying to college.

More people are switching careers several times during their working career and that means that they must be retrained. Many students cannot afford a traditional four year college either in terms of cost or time spent away from home. Community colleges have always offered these students educational opportunity. KCBS radio in California has a report of the push by legislators to have community colleges in California offer four year degrees. In Community Colleges Pushed to Offer Four Year Degrees Melissa Culross reports….

There are two issues when community colleges offer four year degrees and they are increasing access to educational opportunities and the realities of budgetary constraints. Each college will have to decide whether offering four year degrees fit within the college mission and the needs of the individual community. See, Robert Franco’s The Civic Role of Community Colleges: Preparing Students for the Work of Democracy

Daniel de Vise has a great article in the Washington Post, 25 Ways to Reduce the Cost of College which reports online information from the Center for College Affordability and Productivity.    

The question lawmakers should be asking themselves is why society developed public universities and do those reasons still exist? In the rush to get past this moment in time lawmakers may be destroying the very economic engine, which would drive this country out of the economic famine that currently exists. While tuition is increased for students, the pay of college administrators remains hefty. Administrators are in effect pigs at the trough and should come under some scrutiny. Of course, if the current public universities were privatized, we wouldn’t have to worry about pigs still at the trough or would we? In a totally privatized university environment, administrators could be paid what the market will allow or the regents can go wink, wink at. Wait, wasn’t unfettered pay one element in the U.S. financial meltdown?

Dr. Wilda says this about that ©

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