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Credit-Card Companies Paid Colleges Almost $84-Million

Payment Based on Cards Issued to Students and Alumni

Oct 27, 2010

by Suada Kolovic

As a college student, I must admit I was duped into opening a credit card my freshman year. I was lured in by the fact that all my friends were rockin’ their free TCF sweaters and, of course, the concept they pushed of “buy now, pay later.” But credit-card companies marketing themselves heavily on college campuses isn’t new: It’s the perfect place to find new customers who are low on cash and looking for a sweet deal. But have you ever wondered why some colleges allow TCF on campus as opposed to Bank of America- they pay to be there. That may not be the shock of the century but with payments hovering at almost $84 million, you have to question the ethics of it. According to a report released by the Federal Reserve Board, credit-card companies paid $83.5 million to colleges, their foundations and alumni organizations last year under agreements that allow them to market credit cards to students and alumni. Under the agreements, schools and affiliated groups were generally paid for each account opened.

Why were credit-card companies willing to disclose such details? Under the Credit Card Accountability Responsibility and Disclosure Act of 2009, credit-card issuers are required to submit their agreements with colleges and related organizations to the Board of Governors of the Federal Reserve; they must also disclose the total number of opened accounts. Of the agreements reported, about 40 percent were with colleges and 33 percent were with alumni associations. The agreements resulted in the opening of 53,000 accounts in 2009.

The college with the most accounts was Penn State Alumni Association at 1,600 and they were paid $2.8 million by the card issuer FIA Card Services, a subsidiary of Bank of America. The University of Illinois Alumni Association received the most money at about $3.3 million. If you’re interested about your school’s agreement with credit card issuers, check out the Federal Reserve database.

The agreements, certainly ones that involve marketing credit cards to students, can be considered predatory in nature. An examination of this year’s contracts found that they required colleges to provide personal information about their students and, in some cases, even paid the institutions extra when students carried a balance on their cards. And with what sounds like colleges profiting from student debt, it would seem that “free sweater” doesn’t seem like such a sweet deal after all.

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!

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Community College Tuition Rise Looming

Community Colleges Charging More For In-Demand Programs

Oct 26, 2010

by Suada Kolovic

As state funding for higher education across the country continues to shrink, more community colleges are considering charging higher tuition rates for costly career and technology programs. This notion of charging differential tuition is definitely a new concept for community colleges and Pima Community College, in Tucson, Ariz., is exploring the idea after having its state appropriation cut by 30 percent in two years. Some of the college’s most popular programs, like nursing and avionics, would be among those charging a premium.

“It looks like we’ll have budget cuts for the foreseeable future,” said Roy Flores, the college’s chancellor. “I’m mindful of price elasticity and that some students might be shut out if the price goes too high.… But it’s a balancing act, and we’re a long way from shutting people out.” In 2009, the college’s enrollment grew by nearly 14 percent, with a high demand for occupational programs, such as those in the health sciences and engineering. And the reality is, these programs are more expensive due to low student-teacher ratios they must maintain and the expensive training equipment required.

It is interesting to note that in states like Arizona, where there is no state community college board or coordinator board for all of public higher education, individual institutions and community college districts can set their own tuition polices. So, while currently in-state tuition at Pima is $53 per credit hour, it may not be too long before there is an increase for in-demand workforce programs. Flores insisted, “We would just want to close up that gap a little bit. We have yet to do an analysis on this, but my… estimate would be that there would be somewhere between a 10 and 30 percent premium charged for these courses. And it would be phased in, of course, and not brought on all at once.”

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!

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The End of Traditional Textbooks is Near

Colleges to Force Switch to E-Textbooks

Oct 25, 2010

by Suada Kolovic

The start of every new semester calls for a new set of textbooks- very expensive textbooks. Students can’t really think about the cost of college today without factoring in the skyrocketing cost of textbooks. For years students have improvised on ways to dodge buying a new copy- purchasing a used one, borrowing a copy from the library, sharing with a friend, renting one, downloading an illegal version, or simply going without. We recently posted about how e-textbooks and textbook rental services are saving students money but it may not be too long before they’ll be a students’ only option. The plan is to have colleges require students to pay a course-materials fee, which would be used to buy e-books for all of them (whatever text the professor recommend, just as in the old model).

And why not? Electronic copies are far cheaper to produce than printed text, making a bulk purchase more feasible and with colleges ordering books by the hundreds of thousands, they can negotiate a much better rate than students were able to get on their own, even for used books. The hope is to thwart the possibility of students dropping out because they could not afford textbooks, whose average price rose 186 percent between 1986 and 2005, and continue to shoot up each year faster than inflation.

"When students pay more for new textbooks than tuition in a year, then something's wrong," says Rand S. Spiwak, executive vice president at Daytona State, who is leading the experiment there. "Our game plan is to bring the cost of textbooks down by 75 to 80 percent."

But not everyone is buying into the hype of the e-textbook. Issues of ethics have aroused, for instance, what if a professor wrote the textbook assigned for his or her class? Is it ethical to force students to buy it, even at a reduced rate? And what if students feel they are better off on their own, where they have the option of sharing or borrowing a book at no cost?

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!

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Professor Lama is ‘In’

Not Your Average Office Hours Held at Emory

Oct 20, 2010

by Alexis Mattera

Do you take advantage of the office hours and review sessions held by your professors and teaching assistants? You may be more inclined to if you were meeting with the Dalai Lama.

The spiritual leader is currently at Emory University as part of a presidential distinguished professorship and during that time he has met with researchers, students and members of the spiritual community to discuss everything from traditional coursework to meditation. One of these events included Tuesday’s “office hours,” which were held in the private school’s gymnasium and attended by 4,000 members of the campus community.

After laughing and bowing while taking the stage, the Dalai Lama answered a series of questions posed by students and faculty about enlightenment, world affairs and his greatest influence and biggest fear. In addition, the Dalai Lama talked about keeping a calm mind, reaching out to others, recognizing the connection between all humans and learning how to be centered. "My generation ... we need to say 'bye bye' so you transform the 21st century," he told the students. "The people who create the new shape of this century is you. You must protect, not only taking care of yourself but you must have responsibility to take care of this planet."

Did any of our readers attend this event or have the chance to interact with the Dalai Lama during his time at Emory? Interested in hearing a first-hand account…and if he was able to help out with your calculus homework.

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!

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Want to Get into an Ivy League?

All You Need is $19.99!

Oct 15, 2010

by Suada Kolovic

And I’d have to agree – $19.99 is a steal. Aren’t we all just a tad curious as to what those select few wrote to be granted access behind those coveted gates? I know I am and Howard Yaruss figured you, future college applicants, would be too. So he founded the Application Project Inc. WeGotIn.net, which sells copies of successful applications to Ivy League colleges. For $19.99, you can browse applications submitted by 21 members of Brown University’s 2009-10 freshman class and for the same price, you can access applications submitted by 14 members of the 2009-10 freshman class at Columbia University. (Or buy both for $34.99 and save five bucks!)

For the price of large pizza, you’ll get copies of the applications with entire responses to each question, including essay and short-answer prompts. But are they legit? According to Yaruss, the company obtains the copies directly from students, who are asked to submit their application via their college e-mail as proof of enrollment. Wondering what other Ivy League institutions are in the database? As of right now, just the two mentioned above – Brown and Columbia – but Yaruss plans to expand to all Ivy League institutions, Stanford University and the Massachusetts Institute of Technology in 2011.

The catch, since there always seems to be one, is that an accepted application may not necessarily reveal why a student was selected. The truth of the matter is that multiple factors go into a student’s admittance into a university and to provide students with such a tiny piece of such a complicated puzzle is frankly misleading. That’s why a few admissions counselors who have perused through WeGotIn.net could only scoff. “An application out of context has no value, and it’s disingenuous at best to imply that it does,” said Willard M. Dix, an independent counselor in Chicago who works with low-income students. “But there’s a sucker born every minute. Sites like this clearly know that.”

Yaruss admits he has already encountered some “hostility” in the admissions realm and suspects more criticism will come. But he’s been pleased by the response from the people whose help he needs most—college students. He has solicited their applications by contacting them through, of course, Facebook. His pitch: sharing them would help other students who aspire to attend elite colleges.

Why would such elite students offer their personal responses that they surely put their blood, sweat and tears into to a stranger? Did I mention each student who shared his or her application was paid (two received $100, and the others less)? And in the world of a college student, that ain’t too shabby.

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!

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College Software Suggests Courses Based on Student Data

Oct 14, 2010

by Suada Kolovic

What do Amazon, Netflix and Google all have in common? Well, they are constantly learning about you – the user – storing and analyzing data to find relationships and patterns about what you’re viewing. A new project, unveiled at the Educause conference, plans to provide college students with a similar experience on academic websites. The software, called Sherpa, was developed by the South Orange County Community College District and intends to mine data about students to guide them to courses, information and services.

That’s a shift from what students experience today with the Blackboard course-management system, said Robert S. Bramucci, South Orange’s vice chancellor for technology and learning services. “It’s as if Blackboard is somebody with hippocampal damage, that has severe amnesia,” he said. “It’s never seen you before, other than knowing that you have an account in the system. The systems outside learn about you. But the systems typically in academia do not.”

The goal of Sherpa is to offer students an array of options pertinent to them. For instance, a student with a high grade-point average might get a link to the honors program, while a student with low grades might be directed to tutoring services. And with more information about students, the suggestions could get even more specific. Jim Gaston, South Orange’s associate director for IT, academic systems, and special projects, gave this example of a tip he hopes to send to a student who hasn’t yet registered for class:

“Your classes are filling fast. We looked at your academic plan and saw that you plan on transferring to UC Berkeley as a biology major. We searched the class schedule. We found a set of courses you said you were interested in. Based on the pattern of classes you’ve taken in the past, here are the four classes we think you’re going to be most interested in. We’ve already screened them for pre-recs. They don’t have a time conflict with when you said you were going to work. And one of them is your favorite instructor.”

If that’s doesn’t scream convenience, you may want to have your ears checked.

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!

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Obama Extends an "Opportunity" to College Students

The American Opportunity Tax Credit, That Is

Oct 13, 2010

by Suada Kolovic

The financial aid process can be a daunting one but if you’re planning on attending college any time soon, you should know that there are tons of federal student aid options out there – from Pell Grants to Perkins Loans to FAFSA – but your eligibility to receive aid depends on your level of need and, subsequently, how much aid you are eligible to receive. So, to the folks right in the middle: How does a tax credit sound? The American Opportunity Tax Credit, created in the 2009 economic stimulus bill, expires in 2010, but President Obama has proposed making it permanent, with a price tag of $58 billion over 10 years.

Now what does this mean to you? Because the Opportunity Tax Credit is more generous than its predecessor, the Hope Tax Credit, it provides a credit of up to $2,500 rather than $1,800 and it phases out at a higher income level – $160,000 for married couples filing jointly instead of $100,000. According to a report by the Department of Treasury, it’s also partially refundable so students and families with little or no tax liability can receive up to $1,000 of it as a tax refund. The report comes as lawmakers are debating a bill to extend several expiring tax credits. Recent versions would not extend the American Opportunity Tax Credit, but President Obama hopes lawmakers will reconsider.

"The president obviously feels strongly that this is an important relief for middle-class families," said Gene Sperling, counselor to the Treasury Secretary.

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!

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Colleges Use Social Networking as Academic Tool

Oct 11, 2010

by Suada Kolovic

You can’t go anywhere today without hearing the words social networking. But unlike Facebook, where students go to poke at friends and post pictures of their latest shenanigans, college campuses are attempting to harness the popularity of social networking and create online learning communities attempting to mix serious academic work, and connections among working scholars, with Facebook-style fun.

At the City University of New York, a new project called Academic Commons is connecting faculty, staff, and graduate students across the system's 23 institutions. The CUNY-only network allows its more than 1,300 users to write, share blogs, join subject groups, and participate in academic discussions.

At CUNY, registered members of Academic Commons get their own profile, where they can post information about themselves and link up with friends in groups online. The subject groups focus on topics that include open-source publishing, graduate admissions, and—on the nonacademic side—the top New York City pizza joints.

As Matthew Gold, Academic Commons' director put it, “You may not want to friend your dean on Facebook, but you still want to be connected to your dean.”

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!

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Teachers Who Tweet

Professors Microblog to Share Info and Get News, Not Teach

Oct 5, 2010

by Alexis Mattera

Remember how weird it was when your mom friended you on Facebook? It’s probably the same way you’d feel if your calculus professor retweeted your weekend escapades at an off-campus party. That’s an unlikely scenario but more professors are using Twitter for purposed outside the classroom, reveals research by Faculty Focus.

The report, detailed yesterday in the Chronicle of Higher Education, says 35.2 percent of 1,372 individuals surveyed – a 5 percent increase from last year – have an account on the popular microblogging site and use it to share information with colleagues and get news in real time. Though some use it for this purpose, most professors do not communicate with students via Twitter or use the site as a classroom learning tool but perhaps they should, says Reynol Junco. Junco, an associate professor of academic development and counseling at Lock Haven University, is studying social media and found that Twitter can improve student engagement because they are more likely to continue discussion outside the classroom.

Twitter wasn’t around when I was in college but since creating an account in 2008, I have seen the ease and efficiency of sharing information and couldn’t help but wonder if the site could have impacted my academic endeavors. Sometimes I had questions even after going to my professors’ office hours, posting on class message boards and studying the material; perhaps Twitter could have provided the answers I needed in a more timely fashion.

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!

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Ah…Good Ol’ Truthiness

Oct 3, 2010

by Suada Kolovic

Who would have thought a word created and popularized by comedian Stephen Colbert of “The Colbert Report” would inspire a new Web project geared toward separating the truth from the “truthy” in political tweets online? For those of you that don’t know, the definition of “truthy” is the art of taking misinformation and dressing it up as fact. The project is mining Twitter to analyze patterns in political discussions, which in turn allows visitors to take a closer look at Twitter trends to stop data manipulation by tech-savvy special-interest groups.

"We're trying to study how information propagates online through social networks, blogging, and social media," said Filippo Menczer, associate professor of informatics and computer science at Indiana University, who is leading the research.

Do you think special-interest groups attempting to influence Twitter and Google search is a real concern?

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!

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What are They Reading?

Bestselling Books on Campus

Oct 2, 2010

by Suada Kolovic

Curious as to what college students are reading this fall? Well, wonder no more! The Chronicle has compiled a list of the best-selling books from information supplied by stores serving the following campuses: American U., Beloit College, Case Western Reserve U., College of William & Mary, Drew U., Florida State U., George Washington U., Georgetown U., Georgia State U., Harvard U., James Madison U., Johns Hopkins U., Kent State U., Pennsylvania State U. at University Park, San Francisco State U., Stanford U., State U. of New York at Buffalo, Tulane U., U. of California at Berkeley, U. of Chicago, U. of Florida, U. of Illinois at Urbana-Champaign, U. of Miami, U. of Nebraska at Lincoln, U. of New Hampshire, U. of North Dakota, U. of North Texas, U. of Northern Colorado, U. of Oklahoma at Norman, Vanderbilt U., Washington State U., Washington U. in St. Louis, Wayne State U., Williams College, Winthrop College, Xavier U. (Ohio). For more information on any of these schools, check out our college search.

  • Eat, Pray, Love: One Woman's Search for Everything Across Italy, India and Indonesia

    by Elizabeth Gilbert
  • The Girl Who Played with Fire

    by Stieg Larsson
  • The Girl with the Dragon Tattoo

    by Stieg Larsson
  • Mockingjay

    by Suzanne Collins
  • Chelsea Chelsea Bang Bang

    by Chelsea Handler
  • Are You There, Vodka? It's Me, Chelsea

    by Chelsea Handler
  • The Girl Who Kicked the Hornet's Nest

    by Stieg Larsson
  • The Short Second Life of Bree Tanner

    by Stephenie Meyer
  • Nightlight: A Parody

    by The staff of the Harvard Lampoon
  • Freakonomics: A Rogue Economist Explores the Hidden Side of Everything

    by Steven D. Levitt and Stephen J. Dubner

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!

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