June 6, 2012
With student loan debt now totaling more than $1 trillion, current and would-be college students need access to financial aid information more than ever before. The good news is that universities across the country are doing their best to make the facts as clear and available as possible in the near future.
Ten schools – Arizona State, Miami Dade College, North Carolina A&T State University, Syracuse, UNC Chapel Hill, Vassar and the state university systems in Maryland, Massachusetts, New York and Texas – have committed to providing key funding information to all incoming students as part of their financial aid packages starting in the 2013-14 school year. The details will include the cost of one year of college, financial aid options such as grants and scholarships, estimated monthly payments after graduation on federal student loans and comparative data about graduation and loan repayment rates. According to the White House, this disclosure will play a vital role in making college more affordable for all students: "Too often, students and families face confusion when comparing financial aid packages, some of which do not clearly differentiate loans from grants, nor distinguish private vs. federal loans, making it difficult to compare aid offers side-by-side. Clarity and accessibility of information is necessary so that students and families can make informed decisions about where to attend college, so they can choose a school that is best suited to their financial and educational goals."
What do you think of this plan? Do you think it will help students better understand financial aid or is the effort too little and too late?
June 7, 2012
While many colleges and universities – specifically public ones – are cutting back on faculty, the University of Connecticut is putting its shears in storage: President Susan Herbst has announced plans to add 275 new faculty members to the university’s flagship campus in Storrs over the next four years.
According to Gwendolyn Bradley, senior program officer for the American Association of University Professors, UConn’s hiring strategy runs counter to the approach many schools are taking, as they are still reeling from the recession and looking to limit costs wherever possible but to Herbst, expanding the faculty is vital to the university’s future success. "The goal is to improve the quality of education by reducing class sizes and enabling professors to spend more time with our students. We also want to increase the number of courses offered so that our students never have to wait to take a course. We want our students graduating on time," she said. Research is also important to UConn but the focus will be on hiring faculty who both teach and conduct research, depending on the field of study.
The hiring of 65 faculty members – with particular emphasis in the fields of genomics, education, health insurance and finance – will begin this fall, followed by another 90 by the fall of 2013; as a result, the student-to-faculty ratio is expected to decline from the current 18-to-1 to 15-to-1 in four years. You can read the rest of the details here – thoughts from any current or future Huskies?
June 8, 2012
Throughout my undergraduate career, I was lucky enough to be the recipient of scholarships and grants that helped cover my tuition and other fees. Thousands of other college students across the country also rely on this free money to pay for their education and we should all be taking note of the fact that many financial aid options that we have to help pay for college are being eliminated or being heavily restricted. For example, two years ago I was able to take summer classes and receive a Pell Grant because the government allowed students to receive it during the fall, spring and summer semesters. Now, students are only eligible to receive the grant two semesters out of the year which means that a student cannot put the funds toward summer classes if they’ve already applied them to the fall and spring semesters for that academic year.
Many people already decide not to enroll in college because they do not feel like they can afford it. Cutting down on the usage of the Pell Grant can force many students to skip summer classes and send them down a slippery slope, as more students will be forced to stay in school longer and accrue more debt from student loans. Classrooms will become emptier during summer sessions and colleges hard-pressed for funds could raise tuition to compensate. The problem will continue to spiral out of control and lead to more reasons why people opt out of attending college.
We all should become more aware of the decreases that are being made towards higher education spending. The changes affect all of us and if we can all become aware of them, we’ll be able to take (and guide others along) the necessary route to make sure that paying for school is a lot less stressful.
Jessica Seals is recent graduate of the University of Memphis, where she majored in political science and minored in English. She was the secretary of the Pre-Law Society, the philanthropy chair of the Phi Kappa Phi Student Council and a member of Professional Assertive United Sisters of Excellence (PAUSE), Golden Key Honor Society, Alpha Lambda Delta Honor Society, Sigma Alpha Lambda Honor Society and Black Scholars Unlimited. Jessica will be back at Memphis this fall to begin working toward her master’s degree in political science this fall; she ultimately hopes to attend law school.
June 12, 2012
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?
Copyright © 1998 - 2015 Scholarships.com, LLC
Scholarships.comTM All Rights Reserved
Scholarships.com, LLC, Publisher