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Excelsior College Rolls Out $10,000 Bachelor’s Degree Program

February 15, 2012

Excelsior College Rolls Out $10,000 Bachelor’s Degree Program

by Suada Kolovic

With spring just around the corner, high school seniors across the country are anxiously awaiting word from colleges they’ve applied to. And while getting into your top choice school is all well and good, figuring out how you’re going to pay for it is pretty scary. If the cost of your college education is keeping you up at night, you might want to consider Excelsior College. Why? They just rolled out a program that guarantees a bachelor’s degree for $10,000!

This may seem like the opportunity of a lifetime but there are limitations to the price-guaranteed program. Students only have the option to earn a bachelor’s degree in the following areas: BA in Liberal Studies with an area of focus in Psychology or Sociology; BS in Liberal Studies with areas of focus in Administrative/Management Studies or Health Professional; and BS in Liberal Studies in Psychology or Sociology. If you’re interest, here’s how it works: Excelsior specializes in credit-by-examination, meaning that students may earn credit through a single comprehensive exam. In the past, students would have had to pay $370 per credit, which put an Excelsior degree at about $20,000. Not anymore! The new program has the faculty matching each end-of-course exam to one or more free online courses. "Excelsior has been a pioneer in credit by examination for more than 40 years," said Dr. John Ebersole, Excelsior’s president. "What makes this program truly innovative is its use of open education resources as a key source of study material for students. Not only do these free resources help keep student expenses down, they engage students in learning subject matter from some of the world’s leading colleges and universities." (For more on the story, click here.)

Would you consider applying to Excelsior? Are you a tad apprehensive about the academic merits of a self-guided curriculum? Let us know what you think in the comments section.

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Study: E-Textbooks Saved Majority of Students Only $1

January 5, 2012

Study: E-Textbooks Saved Majority of Students Only $1

by Suada Kolovic

Despite students’ early enthusiasm toward e-books as a cheaper alternative to traditional textbooks, a new study finds that for the most part, the total savings was just $1. With publishers saving a great deal of money by not having to print textbooks and ship them out, why aren’t those savings being passed on to students?

The study, conducted over four semesters at Daytona State College, compared four different means of textbook distribution: traditional print purchase, print rental, e-textbook rental and e-textbook rental with an e-reader device. According to the study’s authors, the $1-dollar difference was attributed to “publisher pricing decisions” and the fact that students who opted to rent e-textbooks could not sell their materials back once the semester ended. But pricing wasn’t the only hiccup: E-books have proven to be unreliable in some classroom settings. For instance, wireless networks in classrooms where several students were using e-textbooks at once sometimes became overwhelmed and translated into no e-book access for the entire class. (For more on the study, click here.)

Even with these glitches, do you think e-textbooks in every classroom in the near future are inevitable? What steps can colleges and universities take in order to ensure publishers set up fair pricing for e-textbooks and that the students using them will have better in-class access to the materials?

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White House Announces Summer Youth Employment Initiative

January 6, 2012

White House Announces Summer Youth Employment Initiative

by Suada Kolovic

If you’re a high school student, you’re probably still enjoying winter break. But with that two-week treat shortly coming to a close, I’m sure there are at least a few of you already looking forward to the warm, lazy months of summer. (I know I always did!) Then again, summer may not be the carefree paradise it once was. Whether you’d like to admit it or not, it’s the perfect opportunity to gain some work experience and this summer, you’re in luck: President Barack Obama is looking to boost summer job prospects for kids.

The White House recently announced that with help from the private sector, it has nearly 180,000 youth employment opportunities for the summer and aims to add tens of thousands more. With unemployment rates still relatively high for adults nationwide, young people are finding it almost impossible to find any employment opportunities. President Obama insisted that with the economy in a rut, the government needs to step in to make sure kids are provided with opportunities to learn skills and a work ethic. One downside of the plan for kids trying to save money for college, cars and other expenses is that many of the positions would be unpaid training opportunities.

Are you already thinking about where you’ll be working this summer? Are you more interested in a paying position or one that would be a killer reference on your resume?

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Harvard Alum Donates $150 Million for Student Aid

March 6, 2014

by Suada Kolovic

With the economy still in a slump, debt-ridden college students aren't alone in their financial struggles. Colleges and universities nationwide – who've had a fair share in creating insurmountable amounts of debt for the majority of students – have struggled to attract potential donors as concerns about unstable markets remain. Harvard University, however, may be the exception: An alumnus who started trading stock options from his dorm room almost 25 years ago recently donated $150 million to his alma mater for financial aid.

Hedge fund manager and Citadel Investment Group founder Kenneth Griffin’s donation (Harvard’s largest-ever gift specifically devoted to financial aid) is expected to help as many as 800 undergraduates annually. With tuition, room and board at Harvard University hovering at about $56,000, you'd assume that only students from affluent families could afford the outstanding price tag. The reality: Sixty percent of undergraduates receive financial aid from the school and pay on average just $12,000 a year. Families making up to $65,000 a year pay nothing, while those with incomes up to $150,000 pay between zero and 10 percent of their income. Griffin said he hopes to donate more to Harvard in the coming years and called for his peers to consider doing the same. "At Harvard, we've had not decades of commitment for our alumni, but centuries. It's time for my generation to step up," he said.

What do you think of Griffin's donation to Harvard – a school that already has an endowment of $32.3 billion – and not those in need directly? Is this a step in the right direction or not?

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Want to Stand Out to Employers? Follow These Three Techy Tips

January 17, 2012

Want to Stand Out to Employers? Follow These Three Techy Tips

by Suada Kolovic

Despite our name, we’re more than just scholarships here at Scholarships.com: We strive to keep students in the know on pretty much anything and everything college related, from figuring where you’ll spend the next four years and how you’ll pay for it to picking the major that’s right for you and finding employment once you’ve finished. And when it comes to the latter, recent college graduates are faced with one of the toughest job markets in recent years. What can you do to place yourself in the best position for employment after you graduate? Consider taking courses that will help you stand out from the crowd like those that deal with coding, design and analytics. Here are three tips U.S. News and World Report compiled to help you entice employers:

  • Get your code on: Regardless of your background, understanding even basic coding is a huge differentiator for job seekers in nearly every field, says Keith Cline, founder of the recruiting firm Dissero. Before you graduate, squeeze in a basic computer science class or, if you just don’t have room in your schedule, join New York City Mayor Michael Bloomberg and pledge to learn computer code by the end of 2012 via Codeacademy, a free tutorial website.
  • Socialize, virtually: If you think knowing your way around Facebook will suffice, you’re in for a rude awakening. Instead, Cline suggests students build and maintain blogs focused on target fields and use Twitter to engage with industry influencers. "Out of 10 applicants … that one person who has a personal blog and a social media presence, that's the person they'll hire," Cline says.
  • Take stats...STAT: Companies need people who can break down data and interpret the information with a business mindset, says Vijay Subramanian, chief analytics officer for Rent the Runway, a website where customers rent high-end designer fashions. Taking statistical analysis is a great way to get an understanding of programming language and getting into the weeds of Google Analytics and the power of what it can tell you, advises Cline.
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MIT to Offer Free Online Courses

December 21, 2011

MIT to Offer Free Online Courses

by Suada Kolovic

Think you have what it takes to go to the Massachusetts Institute of Technology? Let’s be honest, few do but if you’re interested in testing the waters, MIT will soon offer free online certification courses to outside students who complete them!

How will the interactive e-learning venture, known as MITx, work? Here’s the breakdown: MITx will give anyone free access to an online-course platform. Users will include students currently enrolled at MIT as well as external learners like high school seniors and engineering majors at other colleges. They’ll watch videos, answer questions, interact with teachers and other students globally, experience stimulated labs, participate in quizzes and take tests. Still have your doubts? MIT Provost L. Rafael Reif assures interested students, "This is not MIT light. This is not an easier version of MIT," he said. "An MITx learner, anywhere they are, for them to earn a credential they have to demonstrate mastery of the subject just like an MIT student does."

One slight catch is that although MITx courses will carry no cost, the institute plans to charge a “modest” fee for the certificates. (The exact amount is still undecided.) The first course will begin around spring of 2012 but MIT has yet to announce the course. Does this opportunity spark your interest? Should other prestigious institutions – Harvard, Stanford, Brown, etc. – offer similar initiatives? Let us know what you think.

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No Access to Social Media at Work is Non-Negotiable for College Students, Recent Grads

December 8, 2011

No Access to Social Media at Work is Non-Negotiable for College Students, Recent Grads

by Suada Kolovic

There are a few key moments in life when you step back and say, “That is non-negotiable in my book.” For the most part, they’re usually pivotal moments that deal with relationships, faith and, at times, your job. When it comes to the latter, they are definitely a few factors to consider – How far are you willing to travel for prospective employment? Will you work for minimum wage and no benefits? (I hope not!) – but what if your future employer tells you that social media sites like Facebook and Twitter are off-limits? Well, for some college students and recent grads, that is the absolute definition of non-negotiable…even if the unemployment rate is around nine percent.

According to a recent study by Cisco which surveyed 1,400 college student and 1,400 young professionals between the ages of 21 and 29 in 14 countries, some students would be willing to accept a lower salary in return for technology freedom. The survey also notes that 56 percent of college students said they would either not accept a job offer from a company that blocked access to social media in the workplace or would attempt to sidestep company polices. (For more on the study, click here.)

For those of you with full-time employment, was access to social media a deciding factor? Would you be willing to forgo a higher salary in order to “tweet” and “like” during the workday? Let us know what you think of the study in the comments section.

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Scholarship Displacement Explained

December 9, 2011

Scholarship Displacement Explained

by Suada Kolovic

Here at Scholarships.com, we make a point to advocate the importance of funding your college education the right way – for free! – and while financing your higher education solely from scholarships is an amazing feat, there is a factor to consider: scholarship displacement.

If you don’t know what scholarship displacement is, you’re not alone. Believe it or not, winning a scholarship may not be the end-all be-all when it comes to paying for school because they can complicate the financial aid package offered by your intended university. Why? When a student wins a scholarship, the college may reduce the student’s need-based financial aid package to compensate. For example, say a university offers a student a $15,000 grant and an additional $15,000 loan to cover the cost of attending. If the student were then to win a scholarship for $15,000, the college could retract its $15,000 grant. Colleges call this an over-award and the scholarship providers call it displacement.

Although this may seem discouraging, it shouldn’t dissuade you from applying to scholarships altogether. Instead, do your homework, speak with your admissions counselor and know where your intended college stands when it comes to their scholarship policies. If you’re brining a lot of scholarship dollars to the table, you have options. Every college is different and has their own guidelines when it comes to outside scholarships. If one university doesn’t allow you to put those scholarship dollars to other costs – loans, books, room and board, etc. – enroll at one that does. You could also enlist the help of the scholarship sponsor: Some scholarship providers may have a lot of clout with the college, especially if their scholars make up millions of dollars of funding to the college.

If you have any additional questions about scholarship displacement, don’t hesitate to ask us!

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Students Searching for Scholarships Find Fees Instead

October 10, 2011

Students Searching for Scholarships Find Fees Instead

by Suada Kolovic

The cost of a higher education continues to skyrocket and many students have turned to scholarship search websites to secure funding to bridge the financial gap. Most would assume that using a reputable website would protect them from non-reputable scholarships but that’s not always the case: Students in Florida were upset recently after learning that the United Youth Fitness Scholarship – an award listed on Fastweb, the Sun Sentinel’s Teen Link page and Georgetown University’s financial aid page – charged students a fee to have their essay’s published on the scholarship’s website.

According to the Orlando Sentinel, Full Sail University student Emilio Zedan was one of many students that applied for the $1,500 scholarship. Soon after he submitted his application, he received an email saying that although he didn’t win, he did receive an honorable mention and could have his essay posted on the scholarship's website for a $12.95 fee. But why? In email to the Orlando Sentinel, Quinn Cory – the site’s registrant and operator of several other for-profit scholarship sites – explained that the essay publication fees helped pay for the costs of the scholarship and to run the program, adding that his scholarships were 100-percent legal and within all of the bounds of law. (For more on the story, click here.)

Here at Scholarships.com, we understand that scholarship fees are, unfortunately, extremely common. That’s why we only list scholarships after they have been carefully reviewed and verified by our staff so that students will only see legitimate scholarships from organizations that don’t charge fees. By employing this rigorous approval process, we’ve been able to remain one of the most widely-used and trusted free college scholarship search and financial aid resources on the Internet and help students like you earn 100-percent free money for college.

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Top 10 Majors That Will Get You Hired

November 9, 2011

Top 10 Majors That Will Get You Hired

by Suada Kolovic

If you’re like most college students, you expect to hear those two beautiful words that make all those sleepless nights cramming for exams the last four (possibly five) years worth it upon graduation: “You’re hired.” But with the economy in a relentless slump and the unemployment rate hovering at 9%, college students need to realize that what they choose as a major will influence their career prospects. With that being said, here are Wall Street Journal’s top 10 majors that will get you hired:

What do you think of the majors that made the list? Is your field of study listed? Do studies such as the Wall Street Journal’s influence your academic pursuits or are you unwavering in following your heart when it comes to your major?

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