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Spending on Sports Up at High-Profile Colleges

April 2, 2010

by Scholarships.com Staff

The country's top college sports programs haven't been faring as well as you'd think when it comes to bringing revenue in to their respective schools. With the close of March Madness upon us, USA Today decided to release a data analysis looking at the finances behind some of the most high-profile college athletic programs. And it seems that the schools are keeping their sports programs afloat by tapping into student fees and other general funds.

According to USA Today, more than half of the athletic departments at public schools in the Football Bowl Subdivision (formerly known as Division I-A) were subsidized by at least 26 percent last year. Those figures are up from 20 percent in 2005, or an additional $198 million if you account for inflation. That means athletic programs are getting subsidized by student fees and whatever general funds schools have set up to cover budget shortfalls. The analysis also shows that spending on athletics has increased, despite more of a reliance on outside funding to cover the costs of sports funding in the past year compared to the previous four years.

Why the increase in athletic expenses? Inflation could be one culprit. Drops in ticket sales, declining endowments and state appropriations overall, and general overspending all contribute to rising costs. Many of the big programs also embarked on expensive capital campaigns over the last few years, and those costs are catching up to them. According to USA Today, the number of schools that have sports programs that pay for themselves - via ticket sales and general marketing revenue, for example - fell from 25 to 14 schools over the last year.

Another story published in USA Today as part of their look at sports programs' finances looks at rising coaches' salaries as another factor. Although sports program budgets have shrunk over the last year, coaches' salaries have not shrunk alongside those figures. The country's top coaches, who had been making upwards of $2 million annually just two years ago, now make around $4 million. (Mike Krzyzewski at Duke University and Rick Pitino at the University of Louisville both made more than $4 million this season.) Coaches' compensation has grown so much that it has become the number one expense for college sports programs, replacing athletic scholarships. Last year, Division I schools spent more than $1 billion on coaches' salaries.

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Report Shows Jobs Await Those with Degrees

June 15, 2010

by Scholarships.com Staff

As if you didn’t already have a number of reasons why you should go to college, a report being released today projects that the United States will face a shortage of college-educated workers by 2018.

The report comes from the Georgetown University Center on Education and the Workforce, and describes a shift since the 1970s on the kind of training required to land jobs in sectors that will continue to see rapid growth as the economy improves. An article on the report in Inside Higher Ed today analyzes the specifics of the report:

  • By 2018, the economy will face a shortage of 3 million workers with associate’s degrees or higher and a shortage of 4.7 million workers with postsecondary certificates. (By that time, there will be 22 million jobs for new workers with college degrees.)
  • In 1973, 28 percent of jobs required post-secondary education, compared to 63 percent projected by 2018.
  • In 1970, 26 percent of the middle class had some post-secondary education, compared to 61 percent today.
  • In 1970, 44 percent of the upper class had some postsecondary education, compared to 81 percent today.

While the data certainly suggests going to college is a good game plan for those worried about their job prospects, it may also mean a shift for colleges to offer more programs in the fields that will see much of the projected growth. According to the report, those industries include health-care, government, private and public education, and the business and financial services. Jobs in the technology sector may taper off, as technological advancements make it more possible for companies to do the work required with fewer employees.

Inside Higher Ed suggests that the data could have an impact on high school students who do not have a clear vision of what they’d like their future careers to be. Some may opt for a more career-oriented program at a two-year college if there is a promise of employment on the horizon. Some schools already offer students incentive programs if they enter into certain majors. At Lansing Community College, students are guaranteed jobs after they complete a program at the school that focuses on training in high-demand fields.

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Is Your School Transfer-Friendly?

Why it Pays to Accommodate

November 2, 2010

Is Your School Transfer-Friendly?

by Alexis Mattera

Transfer students have long been afterthoughts at many schools but they are beginning to be viewed as quite the opposite. Just ask Bonita C. Jacobs, a woman aiming to increase transfer friendliness one college at a time.

Jacobs, the executive director of the National Institute for the Study of Transfer Students at the University of North Texas, recently spoke to the Chronicle about the integral pieces of the higher education puzzle transfer students have become. More schools are thinking harder about the needs of transfer students and the advantages of enrolling them - benefits discussed by Jacobs and others at the College Board’s annual conference. Jacobs and Alfred Herrera, the assistant vice provost at the University of California at Los Angeles, detailed how four-year colleges can better serve students coming from community colleges by making transfer students’ success an institutional priority as opposed to seeing such students as a way to “backfill” freshman classes to meet enrollment goals.

How are they planning to achieve this? At UCLA, for example, reps from various campus offices that serve transfer students meet regularly to discuss their strategies and progress; the university also has a dedicated resource center that caters to transfers. “These students add to the richness and diversity of our campuses,” Herrera said. “When we don’t look at the transfer experience, we’re really in trouble.” Jacobs added, “We often put transfer students in this package, and they don’t all fit neatly into that package. They’re a distinct population, but they’re very diverse. Some of them see their first semester as their first-year experience. Others are older, with children, and are totally different. So many times, campuses will look at transfers as an admissions issue. But it’s also a student-affairs issue.”

We know some of our readers are considering transferring from a community college to a four-year institution so what do you think of the work Jacobs, Herrera and others are doing to make your transition more seamless? And for students who have already transferred, is there anything you wish your school had offered you when you were the new kid on campus?

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Wharton MBA Earns a Whopping $350,000 Starting Salary

January 18, 2011

Wharton MBA Earns a Whopping $350,000 Starting Salary

by Suada Kolovic

You read correctly, a Wharton graduate nabbed the highest annual base salary last year with a private equity firm in New York. The staggering $350,000 starting salary was more than three times the median base salary – $110,000 – of the MBA’s classmates. Yet, these high paying salaries are anything but unique: MBAs from some of the top business schools in the U.S. – Wharton, Stanford, U. Chicago, Columbia and Northwestern – reported that the highest base salary received by a 2010 graduate was $300,000 or more. These figures come from annual summaries of employment of the most recent graduating class. The Wharton MBA career report, which gets its data from student surveys, includes information on compensation, location of employment and the industries in which the graduates now work.

According to management professor Mathew Bidwell, it is both the characteristics of the individual and of the job itself that lead to large starting salaries. “These [private equity] firms tend to have reasonably few people managing very large sums of money,” said Bidwell, whose research focuses on employment. “As you get more senior, each person potentially has quite a substantial impact on the success or the failure of the fund.”

At Wharton, the $350,000 salary earned last year isn’t even a record. In 2009, the top-earning graduate landed a $420,000 base salary…wow. Now, I’m sure you’re thinking where do I sign up, but how important is a high paying salary to you? Are you thinking about changing career paths in order to rake in the dough?

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Top Priority for Americans: Affordable College

February 4, 2011

Top Priority for Americans: Affordable College

by Suada Kolovic

A recent survey suggests more Americans believe that making higher education more affordable would be the most effective means of helping those who are struggling financially. The Public Agenda study, “Slip-Sliding Away: An Anxious Public Talks About Today’s Economy and the American Dream,” revealed reducing college costs was most important to the 1,004 Americans surveyed at 63 percent, beating out preserving social security (58 percent), cutting taxes (48 percent), reducing the deficit (40 percent), “providing financial help to people who owe more on their mortgage than their house is worth” (22 percent) and others as the best solution.

Why do Americans have so much faith in the higher education system? According to the study, “One reason for the faith in education may be the public’s perception of who’s struggling most in the current economy. Three-quarters of Americans say that people without college degrees are struggling a lot these days, compared to just half who say college graduates are struggling.” Of those respondents who identified themselves as “struggling a lot” financially, 77 percent said they were very worried about having trouble paying for their children’s college educations. In addition, nearly one-third of those who are employed (32 percent) said they were "very worried" about losing their job, while 45 percent said they were “very worried” about paying back debt.

With the economy slowly turning around, are you concerned about the cost of college? If you’re stressed about finding financial aid, you don’t have to be: Check out our free scholarship search and get matched with scholarships just for you today!

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Colleges With the Highest Graduation Rates

February 11, 2011

Colleges With the Highest Graduation Rates

by Suada Kolovic

Acceptance letters should be rolling in for the majority of high school seniors and the pressure of deciding where to go is definitely on. A lot goes into deciding what school is the right fit for you, but if you’re interested in what schools have the highest graduation rates...then boy do we have the list for you. And sure, these institutions do have quite impressive graduations rates but keep in mind that high graduation rates don’t necessarily translate into a surefire path to success. It’s also important to note that the majority of schools that made the cut are prestigious and students accepted to the likes of Harvard aren’t likely to dropout.

The study, conducted by College Results Online, a website which uses data from the National Center for Education Statistics and Integrated Postsecondary Education Data System, ranked U.S. colleges in terms of 6-year graduation rates. Check out the top colleges and universities with the highest national graduation rates below and click here for the full list as well as profiles of each school.

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Meet Scholarships.com's Virtual Interns: Melissa Garrett

July 5, 2013

Meet Scholarships.com's Virtual Interns: Melissa Garrett

by Melissa Garrett

I am a creative writing major at Chatham University in Pittsburgh, PA. I was raised in Dallas but often visited family in Pennsylvania growing up; I was very drawn to the aesthetic of Pittsburgh, as well as the nice people. Although Chatham’s campus is in the middle of the city, its beautiful surroundings and foliage make it a wonderful environment in which to learn. In addition, all of the women of Chatham are extremely kind and supportive of each other. Not very many people experience single-sex education and I have really enjoyed my experience despite my doubts.

I was drawn to a creative writing major because I just love writing and being creative. I am always coming up with new ideas and putting them down on paper; this is also what made me want to be a virtual intern for Scholarhips.com because I love to write about significant events. I am in the process of self-publishing my books of various genres and have a Facebook page dedicated to my projects.

I have little spare time with all that I do around campus but I love to just spend time with friends and go into the city. I love to go out shopping for new items for my eccentric wardrobe and I also enjoy listening to metal music at local shows. Going out for a cup of tea is fun, too.

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Hundreds of Colleges Still Accepting Applications

May 16, 2011

Hundreds of Colleges Still Accepting Applications

by Suada Kolovic

High school seniors, are you down about not getting a fat envelope from any of the colleges you applied to? Worried that your college dream is quickly fading? Seriously starting to freak out?! Well, turn that frown upside down because there are hundreds of colleges that are still accepting applications.

According to a Space Availability Survey by the National Association for College Admission Counseling (NACAC), as of May 4th, 293 schools are still accepting applications. The list is comprised of schools that either didn’t fill all open spots for next year’s freshman class or have application deadlines later than the May 1 norm. "A lot of times, people think if there's any schools left, they can't be good schools," says Todd Johnson, consultant at College Admissions Partners. "It's not going to be the top liberal arts colleges or the top national universities, but there are some good, solid schools on there."

Check out a few notables below, for the full list of colleges still accepting applications, click here.

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Escape from In-State Through the National Student Exchange Program

June 14, 2011

Escape from In-State Through the National Student Exchange Program

by Shari Williams

When applying to colleges, I had an “out-of-state” mentality: I wanted to go anywhere besides the very state I lived in. After applying and being accepted to several schools, the cost of out-of-state tuition caused my plans of leaving Maryland to come to a screeching halt. It wasn't until my second year of college that I found my escape when a friend of mine told me about a program called the National Student Exchange (NSE).

The NSE is a program that allows college students to go to another four-year university within North America for a semester up to an entire academic year. My friend went to Florida but I chose to go to California State University – Northridge and had one of the best years of my college life. It was a great opportunity for me to experience another part of the country (I’ve lived on the East Coast all my life) and it was also a very beneficial area for both of my majors, deaf studies and broadcast journalism. To top it all off, I could still pay my in-state tuition to attend the school!

If you are a college student who would like to explore, see more of the world or know what it would be like to live in another state, the NSE is for you. For me, it wasn't only a learning experience but also a life changing one. I would highly encourage anyone who attends a college involved with the NSE to participate in it. If you are interested in the program and would like more information about it, go to www.nse.org and see if your school is one of the nearly 200 member universities.

Shari Williams is a junior at Towson University with a double major in deaf studies and broadcast journalism and a minor in entertainment, media and film. With experience in public relations, a love for music and a passion for acting, she longs to be a jack of all trades. A Baltimore native, Shari is an avid traveler and opportunity seeker. She hopes to become the next face seen on the morning news or the voice heard over the radio.

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Utilizing Your College’s Resources Effectively

June 14, 2011

Utilizing Your College’s Resources Effectively

by Lisa Lowdermilk

Do you ever feel frustrated or overwhelmed with the amount of homework you have? Is it impossible to see the light at the end of the tunnel? There are all kinds of resources at your college which can help!

If you're having trouble writing an essay or just want someone to look over your work, the writing lab is there for you. Writing lab tutors are trained to help you with everything from grammar and punctuation to strengthening your argument. They can even help you get started if you feel like you're having a case of the dreaded writer's block.

As the name suggests, math lab tutors can help you with all levels of math. I've even heard of students coming in to learn how to use their graphing calculators. Even as an online student, I have access to the writing lab, math lab and all kinds of services designed to give me feedback from the comforts of my own home.

So many students are reluctant to ask for help because they are worried it will make them seem unintelligent. Don't worry: Asking questions shows that you are conscientious, determined and hard-working. Teachers appreciate students who are curious enough about the material to ask questions.

Even though going to the writing lab or math lab requires you to spend time on your coursework outside of class, you’ll generally be able to schedule one-on-one appointments with tutors to ensure you get the help you need. In my experience, hardly anyone ever came to math lab or writing lab, giving me plenty of opportunities to ask all the questions I wanted.

The best part about these resources is that they're free! You're already paying for college, so why not take advantage of something that won't dip into your savings for a change?

Lisa Lowdermilk is a published poet, avid video gamer and artist. Her poems have appeared in Celebrate Young Poets: West (Fall 2006) edition and Widener University's The Blue Route. She enjoys watching thrillers, trying different restaurants and attempting to breakdance. Lisa is now majoring in professional writing at the University of Colorado Denver.

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