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Faculty at CUNY were relatively concerned when they noticed a $500,000 donation account only had $76 left in it. It was especially suspicious after City College President Lisa Coico previously used $150,000 towards personal expenses.

The account - the Martin and Toni Sosnoff Fund for the Arts - is intended to support the humanities and arts department at the City University of New York. The donation, which is part of the holdings of CUNY's 21st Century Foundation, serves as the "school's principal fund-raising arm," and was already under investigation. In May, The Times revealed that City College's 21st Century Foundation had paid for Coico's personal expenses, including "fruit baskets, housekeeping services and rugs," when she took office in 2010. The foundation was reimbursed $150,000 from the Research Foundation of the City University of New York, which manages research funds for CUNY. A CUNY spokesperson defended Coico, claiming the "expenditures were authorized by the CCNY 21st Century foundation" but that recent hire Coico "had not known that permission was [also] required by the university."

When CUNY faculty members initially demanded an explanation for the "improperly diverted" funds, they experienced "silence, delay and deflection" before reaching out to University Chancellor James B. Milliken. According to The New York Times, Milliken's "willingness to conduct an internal investigation suggests that the finances of City College, and the leadership of Mrs. Coico, are likely to be under more scrutiny."

Faculty members are “deeply concerned about the practical, ethical and legal implications of the situation.” CUNY isn’t the only school in such a predicament - chancellors at the University of California, Berkeley and at Davis have resigned over similar expenditure controversies. Currently, it is unknown “who withdrew the money, when and for what purpose."

How should the situation be remedied if the funds are found to be improperly diverted, again? Share with us your thoughts below.

And don't forget, you should pay for your college education with as much free money as possible! Find as many scholarships and grants as you can before turning to student loans. Visit the Scholarships.com free college scholarship search today where you'll get matched with countless scholarships and grants for which you qualify, then apply and win! It’s that easy!

President Obama gets paid $400,000 per year to serve as President of the United States of America. Many college presidents get paid more for running a school than they would for being the leader of the free world, according to a new report from the Chronicle of Higher Education. Presidents at public universities received a median salary of $431,000 in the 2015 fiscal year, with a 4.3 percent increase. Five presidents have even entered the "million-dollar club", earning as much as $1.3 million annually. While the pay might be quite generous, being a college president has quickly become a job that's very hard to keep.

High-profile resignations or firings are becoming commonplace in the world of higher education. From heated race issues to sexual assault cases, being a college or university president has become more complex than it was a decade ago, according to The Washington Post. In addition to administrative responsibilities, presidents are increasingly responsible for pleasing alumni, faculty, and students because, "at any one time, one of those groups is upset about something." The University of Houston's President Renu Khato earned the highest salary at $1.3 million in 2015. Former University of Oregon President Mark Gottfredson followed with a total compensation of $1,215,142 and an additional $940,000 severance payout after he resigned amid controversy over the school's mishandling of a sexual assault case.

College presidents are taking on different roles, and future leadership may require individuals who don't necessarily follow "typical pathways through academia" and who don't come from traditional backgrounds. Candidates may need to keep up with evolving trends in teaching, learning and technology as well as being well-versed in finances as opposed to following conventional academic careers such as scholars, professors, and researchers. Only 30 percent of sitting provosts actually want to become a college president which is daunting, considering many of current college and university presidents are expected to retire. Who will rise up to the high-pay, high-turnover challenge?

In your opinion, should college and university residents get paid such high salaries or take a pay cut? Leave us your thoughtful comments below.

And don't forget, you should pay for your college education with as much free money as possible! Find as many scholarships and grants as you can before turning to student loans. Visit the Scholarships.com free college scholarship search today where you'll get matched with countless scholarships and grants for which you qualify, then apply and win! It’s that easy!

Not even a day after the FBI announced her "extremely careless" dissemination of sensitive and classified information via a private server, Hillary Clinton proposed a tuition-free college program for roughly 80 percent of American families. Amidst the email traffic scandal, Clinton is moving forward and attempting to handle a new beast: college affordability.

Clinton, the presumptive Democratic presidential nominee, also feels the Bern when it comes to college tuition. But unlike Bernie Sanders - who proposed free public higher education for all - she proposed "debt-free" education for students from families with incomes of up to $125,000. The plan, aimed to entice young voters, would offer free tuition to families earning $85,000 a year at first and gradually increase to a $125,000 threshold by 2021. Furthermore, she pledged to restore year-round Pell grants and impose a three-month moratorium on all repayments for federal student loans, which would allow borrowers to finance their loans or move into income-based repayment options.

Clinton herself cautioned young Bernie supporters in the past saying, "When somebody tells you something is free, ask for the fine print." With a looming national debt exceeding $19T ($1.3T of which is student loan debt), freebies may seem appealing. However, the issue of tuition inflation persists. Incentives such as these are not available to hardworking parents and incentivize families to make a calculated goal to meet the bare minimum requirements, and nothing beyond it. Furthermore, students who have spent years paying off their student loan debt will not be receiving any reimbursement checks. Many taxpayers who wouldn't receive any benefits from the program (those who have already paid college tuition for their progeny or don't have kids) are forced to pay into programs they may not support.

Though Clinton may face consequences as large as losing her security clearance, she made no comments regarding the FBI's address and instead focused on solving one of the nation's largest debt issues.

In your opinion, do you think a free college education program is feasible? Do you think it will help alleviate or solve the student debt issue? Leave your thoughtful opinions below to start a discussion.

Going to college doesn't have to break the bank or saddle you with tens of thousands of dollars in student loan debt. Check out the Scholarships.com free college scholarship search where you’ll discover you qualify for hundreds of thousands of dollars in scholarships in just a few minutes, then apply and win! It’s that easy!

Don't have the necessary funds to pay your college tuition? That may be a problem if you plan to attend colleges or universities like Haverford College, where they will suspend their admissions office's "need blind" application review policy, at least temporarily. Dropping the commitment to need-blind admissions is a concern among the fairly short list of private colleges; those that historically have had large enough endowments to be able to offer all students admission without the need for the student and/or parent to take out student loans. Some students have spoken out claiming that this isn't a form of diversifying but rather, "financially viable diversity."

Haverford claims the "changes will be modest" and applicants will be reviewed and admitted as they were in the past - without regard to financial need. Once the college depletes its available funds, the last 10-15 students admitted "will be those who can be admitted without going outside the aid budget." Haverford already anticipates it will run out of money before admitting the entire class but students believe that "there will always be money for things [we] value." The college will maintain its commitment to low-income students, according to the Dean of Admissions.

Other changes in admissions include an increase in class size by roughly seven students yearly; without affecting the "prized" faculty-student ratio. Haverford's President Kimberly W. Benston wrote that the changes are due to "financial challenges created by shifts in the college's demographics and the growing financial need of students in recent years" as well as the “economic downturn that hit in 2008."

Haverford is considered a very well-heeled private institution, with competitive admissions and an endowment "just shy of a half a billion dollars." Do you think this is the best possible way to remain within budget while admitting the incoming class? Is there a better way? Leave us your thoughtful comments below.

And remember, there’s no need to rely on expensive student loan options to pay for your college education. For more information on finding free scholarship money for college, conduct a Scholarships.com free college scholarship search today, then apply and win! It’s that easy!

JetBlue is helping higher education dreams take flight by offering to pay their student-employees' entire tuition bill. College tuition reimbursement is a recent trend by employer-sponsored programs, but this company is allowing their employees to soar through college by paying it all up front.

Some other employer-sponsored college degree programs - like the Starbucks College Achievement Plan - offer to reimburse students once they've earned their degree, help cover a portion of courses costs, or other discounts. The JetBlue Scholars program is offering to pay for employees' associate's degrees. Students wishing to earn a bachelor's degree and who have earned at least 15 college credits will have to pay $3,500 for capstone courses on their own or through scholarships. JetBlue is partnering with Thomas Edison State University - an online, public university in New Jersey to offer the aforementioned degrees. Since its debut in August, 400 JetBlue employees have applied for the program and each student receives in-person coaching and mentorship from one of six JetBlue’s success coaches. Roughly 1,000 of its 18,000 employees are anticipated to participate in the program annually.

Students are able to use their job skills, knowledge, and experience and apply them as learning credits. Though it may not feel like the typical college experience, it is particularly convenient for adults, employees, and nontraditional students. To help those who have been out of school for a while, the coaches "apply to Thomas Edison Sate on behalf of the students" and monitor their credit transfers, provide the different degree options, and create a course schedule for the students. The online program runs through three platforms, including StraighterLine, Sophia Learning, and Study.com.

Is it too good to be true? One professor thinks this initiative is just a way to make the headlines and isn't so much about what's in the student's best interest but rather, it "is being set up on terms favorable for the company." Nonetheless, it's likely that more companies will follow in Starbucks' and JetBlue's footsteps. Other large corporations such as Pizza Hut, Anthem Insurance, and Fiat Chrysler have also jumped on this initiative.

You can pay for any college costs with scholarships. Whether you owe $3,500 or $35,000 there are easy to large dollar scholarships to help reduce your overall cost of attending college. Take JetBlue's advice (and ours) and help foot the rest of your bill with scholarships.

And remember, there’s no need to rely on expensive student loan options to pay for your college education. For more information on finding free scholarship money for college, conduct a Scholarships.com free college scholarship search today, then apply and win! It’s that easy!

What happens when half a million students are forced to take zero credit, remedial college courses? Parents and students must pay roughly $1.5 million and borrow $350 billion extra a year - even if 74 percent of those students end up delaying college or dropping out. Not only does it break the bank for low-income families, but yes, the affluent families as well. Who's to blame for college unpreparedness?

According to a new report by researchers at Education Reform Now, "American families across all income levels are spending billions each year in extra college costs." Though the common perception is that remedial courses are only available for low-income students or community colleges, it extends to middle, upper-middle, high-income, and many colleges of well. In particular, some of the most affluent students at private nonprofit four-year colleges (the top 20 percent) are taking more remedial courses than students from the bottom 20 percent of national family incomes. Statistics show that over $12,000 extra has been spent by unprepared students from the top income quintile (incomes over $113,440) attending private nonprofit institutions. On average, about $3,000 is paid extra, and $1,000 borrowed to complete remedial courses. Additionally, unprepared students are more likely to delay completing college - or simply drop out. The issue of college unpreparedness is not limited to minority or low-income students, but it penetrates all income levels.

But who's to blame? Researchers point to the "expansive failure of our K-12 education system" and recommend giving secondary assessment when accessing college readiness. Some believe that we are focusing on the wrong topics and should, for example, teach statistics and not algebra since it will be more practical and useful post-college. Others blame the way in which students are evaluated through the "traditional method of scoring." Proponents of the Common Core State Standards, including President Obama and even some conservative allies believe that the "common-sense logic" is premised on the skills necessary to successfully participate and compete in the 21st-century economy and global market. Some schools have already addressed the issue by implementing a "corequisite remediation" model which allows students to take for-credit courses while being enrolled in a "learning support class to help them master the material."

Should both high schools and students be held accountable for their college readiness? Remedial courses are depleting students' financial aid and savings, and have them asking professors whether they know of any scholarships that are intended to help students who have run out of financial aid. You can count on ample scholarship opportunities here at Scholarships.com to leave you financially prepared for college costs. From easy scholarships where you hardly have to do anything to essay scholarships, you have the chance to help fund your higher education dreams.

And remember, there’s no need to rely on expensive student loan options to pay for your college education. For more information on finding free scholarship money for college, conduct a Scholarships.com free college scholarship search today, then apply and win! It’s that easy!

What makes February so lovely? It is Financial Aid Awareness Month, and since filling out the FAFSA is stressful - much like taxes - several higher education institutions and financial aid organizations have jumped on board to provide informational sessions for families and students as they navigate through, and apply for financial aid through the 2016-2017 FAFSA. According to the National Center for Education Statistics, the percentage of students applying for, and receiving financial aid for their college education at a four-year-degree-granting institution has increased from 80% to 85% from 2007-08 to 2012-2013. Because of this, the National Association of Student Financial Aid Administrators (NASFAA) will be hosting a new topic weekly through a social media campaign that allows parents and students to ask questions about the FAFSA. To participate, NASFAA asks families to send their questions via Twitter using the hashtag #FinAidFeb to receive tips and advice, as well as the common mistakes to avoid. The social media campaign will take place on Wednesday, February 3rd from 7-8 pm ET and Friday, February 5th from 1-2 pm ET. Those interested can simply follow @NASFAA on Twitter or visit them at their website for full schedule and details.

According to the Salisbury Post, help is on the way on "FAFSA Day" at Catawba's College Library, where financial aid officers and specialists are working with seniors and their families to complete the FAFSA. Between February 22 and February 26, local North Carolina State Employee Credit Union branches will also help students complete their FAFSA. Waubonsee Community College in Sugar Grove, IL is holding a similar series of events throughout February. In light of "FAFSA Frenzy", the Missouri Department of Higher Education is calling for an effort to educate and assist prospective college students, and Webster University is offering sessions on February 28 on its home campus, as well as at its St. Louis region on February 6 and 20. According to the school's statistics, more than 80% of its student population receives financial aid. The college is providing incentive for attending the event by offering attendees the chance to win a scholarship.

When attending any FAFSA informational session, bring your 2015 W-2 forms, and copies of your 2015 tax forms, if they're ready. If you haven't filed your 2015 returns yet, bring any statements of interest earned in 2015, any 1099 forms and other forms necessary to complete your taxes. Later on you may need to go back to your FAFSA and make corrections once the tax returns are filed. The IRS Data Retrieval Tool will help you make accurate corrections within a few weeks of your tax file date.

Tro Onink, CEO of Stratagee and an expert in financial planning, cautions parents about IRA contributions for 2015.Though it may lower tax bills for 2015, it affects the children's financial aid eligibility for the 2016-2017 year. As explained by Onink, individual retirement account (IRA) contributions is factored back to the adjusted gross income (AGI) when financial formulas are used to determine student's financial aid eligibility. When the expected family contribution is calculated, IRA contributions are factored into the adjusted gross income, plus HAS, 401k, 402b and other retirement contributions. He cautions that these formulas would "presume that they [parents] have used that money they're setting aside for retirement to pay for college instead." On the upside, you do not have to record the value of the IRAs as an asset. So what's Onink's main advice? If for example, you invest $10,000 into retirement plans in 2015, your children's financial aid amount could decrease by $2,500 in 2016-2017. Essentially, when you make an IRA contribution, you will be paying more than half the amount you save in taxes when it comes to college expenses. He advocates to save for retirement but be cautions that "just because your adjusted gross income is lower, your income for financial aid purposes will be inflated."

Read more on Financial Aid Information and Financial Aid tips this season as you fill out your FAFSA and don't forget to see how you can supplement federal aid with free money in scholarships.

Credit is attributed to Troy Onink, who has been featured by Forbes, InvestmentNews, myStockOption

Going to college doesn't have to break the bank or saddle you with tens of thousands of dollars in student loan debt. Check out the Scholarships.com free college scholarship search where you’ll discover you qualify for hundreds of thousands of dollars in scholarships in just a few minutes, then apply and win! It’s that easy!

According to President Obama, the Pell Grant Program should be extended to include convicted felons currently in our prison systems so that they may continue their education from behind bars. The US is a "nation of second chances," according to Arne Duncan, the current Secretary of Education, and should offer the incarcerated the option of an at least partially funded post-secondary education. Additionally, the Obama Administration hopes to extend the program through the summer so that students can graduate more quickly, while also providing incentive for students who take a minimum of 15 credits per semester/trimester.

Currently, those incarcerated at a federal or state penal institution are not permitted to receive a Pell grant - Obama's "Second Chance Pell Pilot Program for Incarcerated Individuals" would change that. Additionally, the Department of Education announced two more proposals to the current Pell Grant program which would increase the $29 billion program by $2 billion in the upcoming fiscal year. The proposal will be part of President Obama's budget proposal next month. The "Pell for Accelerated Completion" program allows students with financial need to take summer courses using Pell grant money, unlike the current program, which only covers two academic semesters.

The second proposal, the "On Track Pell Bonus," rewards students who take minimum of 15 credits per semester with $300. Roughly 2.3 million students would benefit from the bonus program. The goal of these two proposals is two-fold: to help students graduate earlier and to provide them with more financial assistance through the Pell Grant. Almost 8.3 million students were awarded the Pell Grant in the 2015 fiscal year, with approximately $28.7 billion in financial aid. According to the Department of Education's budget report, the maximum Pell grant for 2015-2016 was $5,775 but will be reduced to $4,860 next year.

According to the Department of Education, these changes would benefit almost 700,000 students with an additional $1,900 per student (currently, the average amount received by qualifying students is $3,600). Research also shows that 1.5 million high school graduates did not complete a FAFSA in 2014, despite their eligibility, resulting in just under $3B in unclaimed funds. Since today marks National Student Debt day, a group of young activists named the Young Invisibles will convene at the University of the District of Colombia Community College to learn more about the current student debt crisis and find out how they can influence higher education policy. Members of Congress will be present, including keynote speaker, Senator Elizabeth Warren.

Do you think Pell grants should be offered to incarcerated individuals? Would you take more summer courses if the Pell were to be extended? Start a discussion below.

Credit attributed to Jennifer C. Kerr, Associated Press reporter covering education from Washington, D.C.

And don't forget, you should pay for your college education with as much free money as possible! Find as many scholarships and grants as you can before turning to student loans. Visit the Scholarships.com free college scholarship search today where you'll get matched with countless scholarships and grants for which you qualify, then apply and win! It’s that easy!