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College Student Tweets Oil Tycoon for Tuition Assistance…and Gets a Response!

January 9, 2013

College Student Tweets Oil Tycoon for Tuition Assistance…and Gets a Response!

by Suada Kolovic

Chances are if you’re a college student, you have a Facebook, Twitter, Pinterest and/or Reddit account and with all that social media at your fingertips, you have a few options: 1. Repost a someecard that your friends have seen no less than 20 times (it’s still hilarious to you!) 2. Spend some time analyzing Taylor Swift’s latest breakup 3. Catch up on Grumpy Cat memes or 4. Tweet billionaire oil tycoons for some financial assistance. Well, you wouldn’t be the first to partake in the latter pastime.

Seth Samuelson, a current freshman at Oklahoma State University, had been hounding billionaire T. Boone Pickens on Twitter since September asking for help in paying for his college education. Last week, he finally got a response...though not one that he was hoping for. The social media-savvy billionaire tweeted back, “Give me 10 good reasons why I should do it,” following up a day later with, “Admire your guts but unless your [grade point average] is 3.0 or better, don’t worry about the 10 reasons.” Although getting a response at all was quite a shock, we should mention that Samuelson had tweeted Pickens a total of 68 times. “He’s a generous man, so why not ask?” Samuelson, an 18-year-old sports media major, told FORBES on Monday. Alas, Samuelson did not reply because he does not meet the GPA requirements. Jay Rosser, a spokesman for Pickens, wrote in an email that the billionaire “appreciated Samuelson’s persistence and wished him the best.”

Do you agree with Samuelson’s attempt to coax a billionaire into paying for his college education? Let us know in the comments section. In the meantime, if you’re looking for a different route in financing your college degree, Scholarships.com is a great place to start!

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University Will Require All Students to Purchase iPad Minis

January 18, 2013

University Will Require All Students to Purchase iPad Minis

by Suada Kolovic

With college just around the corner for high school seniors, preparing for your first year can be daunting. And while you’re going through your mental checklist of what you’ll need, don’t forget to add an iPad mini if you’re headed to Lynn University: Beginning this fall, all incoming students will be required to purchase one.

Lynn’s devices will come loaded with students’ summer reading and core curriculum texts and will cost about half as much as their print counterparts at $475. Why the shift? After meeting with Apple representatives and learning more about iTunes U and the iPad, Lynn officials experimented with the technology and were pleased with the initial outcome. During the January term, one section of the course was taught on iPads and utilized “challenge-based learning” – a method developed by Apple that focuses on using technology to apply course content to real-world problems – while the other section covered the same content through traditional methods. At the end of the term, students from both sections were surveyed about their experiences and those using challenge-based learning and the iPads were not only happier with the class but learned more! (For more on Lynn University’s switch to an Apple centered curriculum, click here.)

Do you agree with Lynn University’s decision to require an iPad mini based on one course evaluation? Let us know in the comments section.

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Report: Millions of Graduates Hold Jobs that Don’t Require College Degrees

January 29, 2013

Report: Millions of Graduates Hold Jobs that Don’t Require College Degrees

by Suada Kolovic

It wasn’t too long ago that the majority of American’s agreed that one had to earn a college degree in order to succeed in the workforce. Unfortunately for millennials, the rate of success after obtaining said degree is no longer so intrinsically tied: According to a report, millions of college graduates suffer a mismatch between education and employment and hold jobs that don’t require costly degrees.

The study from the Center for College Affordability and Productivity says that nearly half of all American college graduates in 2010 – nearly three years after the recession began – were underemployed, holding relatively low-paying and low-skilled jobs. Of the 41.7 million working 2010 college graduates, about 48 percent work jobs that require less than a bachelor’s degree and 38 percent of those polled didn’t even need a high school diploma. Authors Richard Vedder, Jonathan Robe and Christopher Denhart agreed that the country could be overeducating its citizens and questioned if too many public dollars were being spent on producing graduates that the nation’s economy doesn’t need. "Maybe we should incentivize colleges to more accurately counsel students," Vedder told the Chronicle of Higher Education. "If you get a degree in business administration, you may not necessarily walk into a middle-class life. There's a good chance you may end up being a bartender." (For more on this study, click here.)

Do you think that a college degree is necessary for gainful employment and upward mobility? Let us know what you think.

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Bloomberg’s Latest Donation to Johns Hopkins Tops $1 Billion Mark

January 31, 2013

Bloomberg’s Latest Donation to Johns Hopkins Tops $1 Billion Mark

by Suada Kolovic

Giving back to your alma mater is a tradition deeply rooted in the inner workings of any university. Once your status has shifted from “student” to “alumni,” you can bet there is an expectation for you to give back. And while some go out of their way to avoid the financial strains of contributing (we are technically still in a recession), Michael Bloomberg isn’t one of them: The New York City mayor’s latest $350 million pledge has pushed his lifetime donations to his alma mater past the $1 billion mark. Yup, that’s billions. With a b.

Johns Hopkins announced the donation late Saturday, saying it believed Bloomberg – who amassed his fortune creating the global financial services firm Bloomberg LP – is now the first person to give more than $1 billion to a single American university. (This assertion, however, is hard to verify since many donors tend to give anonymously.) About $250 million of Bloomberg’s latest contribution will be part of a larger effort to raise $1 billion to foster cross-disciplinary work at Johns Hopkins; the remaining $100 million will be devoted to need-based financial aid for undergraduate students in the form of 2,600 Bloomberg scholarships in the next 10 years. "Johns Hopkins University has been an important part of my life since I first set foot on campus more than five decades ago," Bloomberg said in the statement issued by the university. "Each dollar I have given has been well-spent improving the institution and, just as importantly, making its education available to students who might otherwise not be able to afford it."

What do you think of Bloomberg’s generosity? Do you plan to donate to your college after you graduate?

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Changes to 529 Savings Plans

February 5, 2013

Changes to 529 Savings Plans

by Suada Kolovic

Figuring out how you’re going to pay for your college education can be intimidating. No one wants to pay off student loans for the rest of their lives, full-tuition scholarships are rare and federal student aid seldom covers all college costs but if you’re lucky enough to have a parent or relative willing to help curb the financial strains, it’s important to note that college savings plans are becoming increasingly flexible and affordable. Here are some of the changes to the 529 savings plans for 2013:

  • Increase gift tax exemptions: Grandparents can gift $14,000 annually before they’re charged a gift tax. Since five years of the exempted amount can be gifted at one time, that’s a five-year donation of $70,000 per grandchild while a married couple could potentially gift $140,000, provided they don’t give additional funds to the same grandchild in the five-year span.
  • Expanded qualified expenses: Last year, families couldn’t use 529 plan funds for laptops, iPads, internet service and software but the IRS is going high tech and realizes these are necessary items for higher education. Parents of a student who receives a full or partial scholarship can now use the funds to enhance their child’s educational experience.
  • Declining plan prices: Competitive bidding among plan management companies to run 529 plans on behalf of states is contributing to the trend of downward pricing. (For more information about 529 plans, click here.)
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Four College Majors to Avoid

February 7, 2013

Four College Majors to Avoid

by Suada Kolovic

With recent college graduates facing an unemployment rate of 7.8 percent and substantially lower starting salaries, we have to ask: What path should students take in order to flourish after graduation? And while there isn’t one direct route that translates into success, Georgetown University’s Center on Education has compiled a list of majors that college students should avoid:

  • Liberal Arts (Unemployment Rate for Recent College Graduates 9.2 percent): Studying a broad palette of subjects including everything from literature and philosophy to history and sociology sounds like a dream. Unfortunately, employers may not see a liberal arts degree in the same divine light as the ancient Greeks did.
  • Philosophy and Religious Studies (Unemployment Rate for Recent College Graduates 10.8 percent): With the demand for these two degrees particularly lackluster, it’s difficult to justify them as your desired majors. Susan Heathfield, a career expert and writer of About.com’s Guide to Human Resources, suggests considering a degree in communications instead.
  • Information Systems (Unemployment Rate for Recent College Graduates 11.7 percent): "I'm not exactly sure what someone would do with [an information systems] degree in the current world," Heathfield says. "In the early days, the roles of various programmers, software developers, and network administrators were more distinct, but not anymore. Now the degree to have is computer science or computer engineering."
  • Architecture (Unemployment Rate for Recent College Graduates 13.9 percent): Thanks to the massive hit the housing and commercial real estate industries took in the past decade, architecture has highest unemployment rate among the degrees examined. If you’re interested in the process of planning and designing, engineering might be a more lucrative option.

What are your thoughts on the majors that made the list? Do you agree that they should be avoided at all costs or should students be encouraged to pursue their passion regardless of potentially high employment rates? Let us know in the comments section.

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Fastest Growing Jobs for College Grads

May 1, 2012

Fastest Growing Jobs for College Grads

by Suada Kolovic

Today is National Decision Day for college applicants and while determining where you’ll be headed in the fall is huge, knowing what you’ll be studying once you get there is just as imperative. With the economy the way it is, pursuing a growing job field would be ideal. With that in mind, check out some of the fastest growing jobs in America below:

Would you consider pursing any of the positions listed above? Will the current labor market impact your decision on what you’ll major in? Let us know in the comments section.

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Graduate Early, Get Sued in Germany

German University Sues Student for Graduating Too Fast

July 10, 2012

Graduate Early, Get Sued in Germany

by Suada Kolovic

For most students, graduating college in just four years is the ideal and not the norm. So when a student comes along and graduates with his bachelor’s and master’s degrees in only three semesters, one would assume a parade of some sort would be in order. The Essen, Germany-based School of Economics and Management went a different route: they sued the student who accomplished this feat.

Earning both a bachelor’s and master’s degree should take a typical student about 11 semesters and 60 exams to complete, yet Marcel Pohl did it in just 20 months. How’d he do it? With the help of two friends, Pohl divvied up lectures and swapped notes. Did we mention that in that time, he also completed an apprenticeship in a bank? Well, he managed to fit that in, too! Now, the school is crying foul and claiming “income loss” and suing for $3,772 – a fraction of the tuition and fees Pohl would have paid had he completed the degrees in the customary amount of time. "When I got the lawsuit, I thought it couldn't be true," Pohl recently told the German tabloid, Bild. "Performance is supposed to be worth something."

With a college education as expensive as it is, can you ever really graduate too early? Let us know what you think in the comments section.

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Employment Rates for Law School Graduates Lowest Since 1994

June 12, 2012

Employment Rates for Law School Graduates Lowest Since 1994

by Suada Kolovic

The notion that those who are well-educated are safeguarded from bleak employment rates doesn’t seem to hold true anymore: According to the National Association for Law Placement, recent law graduates face employment rates that have fallen to the lowest level since 1994.

Only 85.6 percent of 2011 law school graduates (whose employment status was known) had jobs nine months after leaving school – two percentage points lower than the employment levels of the 2010 graduates. Now that may not be reason to sound the alarm, but only 65.4 percent of 2011 graduates had jobs that required passing the bar exam. Ding! Ding!

"For members of the Class of 2011, caught as they were in the worst of the recession...the entry-level job market can only be described as brutal," the association's executive director James G. Leipold said in a written statement. "When this class took their LSATs and applied for law school, there were no signs that the legal economic boom was showing any signs of slowing and yet by the time they graduated, they faced what was arguably the worst entry-level legal-employment market in more than 30 years."

Future law students in the audience, what do you think of the news? With a law degree no longer translating into instant financial security, are you reconsidering your educational path?

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Five In-Demand Careers for College Grads

March 18, 2014

by Suada Kolovic

With recent college graduates facing an unemployment rate of 6.7 percent and substantially lower starting salaries, we have to ask: What path should students take in order to flourish professionally after graduation? While there isn't one direct route that translates into success, the recent “Hot Careers for College Grads and Returning Students 2013” report by UC San Diego Extension revealed a list of in-demand careers based on job growth, salary and work environment:

  • Software Developers, Applications and Systems Software: According to the report, the integration of technology into our daily lives “has created an ongoing critical shortage of qualified software developers to design, develop, test, document and maintain the complex programs that run on these hardware platforms.”
  • Market Research Analyst: Market research analyst jobs have exploded in every sector of the economy. This has created a high demand for those who can access, analyze and extract meaningful, actionable and tactical implications from a sea of data.
  • Accountant and Auditor: Accountants and auditors earned their spot on the hot careers list because of the sheer demand for accounting jobs. In 2010, more than 1 million people were employed as accountants and auditors and that number is expected to grow at a healthy rate of 16 percent by 2020.
  • Elementary School Teacher: Elementary school teachers outnumber any other single occupation nationally and a teaching career tends to offer a form of stability that is relatively rare in other fields of pursuit.
  • Computer Systems Analyst: From growth to salary, computer systems analysts scored strongly in every category of hot careers evaluation. This career is projected to grow in demand by 22 percent by 2020 and with a mean annual salary of $83,800, it is one of the most lucrative jobs on the list.

Did a career you’re considering make the list? If not, would you considering switching majors based on the likelihood of gaining employment after graduation? Let us know in the comments section.

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