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Incoming University of Texas President Turned Down $1 Million Salary

May 15, 2015

by Suada Kolovic

Understanding how to negotiate your salary is a skill that you’ll hone over your career. Normally, many new employees want to negotiate for higher salaries...but for some, that's not always the case: Incoming University of Texas at Austin President Gregory Fenves turned down a $1 million salary because he thought it was too much. Say what?

According to the Austin American-Statesman, Fenves said (in emails obtained by the newspaper) that a $1 million salary was "too high for a public university" and that it might prompt "widespread negative attention from student and faculty given the difficult budgetary constraints of the past five years." Instead, he requested a salary of $750,000 and requested that an annual bonus be capped at 10 percent of his base salary. "It's very, very unusual, especially with what's going on today with presidential salaries. They keep going up and up and up," said James Finkelstein, a public policy professor at George Mason University who studies executive compensation in higher education. (For more on this story, check out Inside Higher Ed.)

What do you think of Fenves' decision to request a lower salary? Should more college presidents follow in his footsteps? Share your thoughts in the comments section.

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 Earn an Extra Million Dollars? Choose Your Major Wisely

May 12, 2015

by Suada Kolovic

When choosing a major, most would agree that it's important to consider gaining lucrative employment following graduation. In a perfect world, the best college major would simply be the one that interests you most, period. But if you have a particular knack for math or science and aren't necessarily sure where those skills would translate best, consider the kinds of careers that could offer a generous return on your investment.

According to a new report from Georgetown University’s Center on Education and the Workforce, going to college pays off but by how much depends greatly on the area of study. For example, students who complete undergraduate degrees in petroleum engineering earn a median $4.8 million throughout their careers (or $136,000 a year) – more than triple the $1.4 million in median earnings (or $39,000 a year) for someone who majored in early childhood education, the report says. "The surprises are in the details," said Anthony Carnevale, director of the Center on Education and the Workforce. Just choosing a major in a STEM field doesn't secure a hefty paycheck, either: Carnevale's team found that biology majors have median annual wages of $56,000 over their careers from age 25 to 59, or about one-third less than physicists. There are also wide ranges in salaries for specific majors. The top 25 percent of earners who majored in finance can expect annual earnings of more than $100,000, while the bottom quartile may bring in just about $50,000 a year. (For more on this report, head over to the Wall Street Journal.)

Do you agree with the sentiment that majors that aren't in high demand should be avoided or should students be encouraged to pursue their passion regardless of potentially high unemployment rates? Let us know your thoughts in the comments section.

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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10 Elite Schools Where Middle-Class Students Don’t Pay Tuition

Apr 3, 2015

by Suada Kolovic

Despite the hefty sticker price associated with all elite institutions, estimated costs are actually quite affordable. In fact, Ivy Leaguers graduate with less debt than their peers who attended less prestigious schools. But how? It turns out that healthy endowment funds play a huge role in aiding low-income, middle-income and even upper-income students with tuition (and sometimes also room and board) costs. Check out 10 schools where some students pay little to nothing to attend:

  • Princeton University

    Tuition for 2015-16: $43,450
    Policy: Families making less than $54,000 a year don't pay tuition, room or board, and families making less than $120,000 a year don't pay tuition.
  • Brown University

    Tuition for 2015-16: $48,272
    Policy: Families making less than $60,000 don't pay tuition, room or board.
  • Cornell University

    Tuition for 2015-16: $48,880
    Policy: Families making less than $60,000 don't pay tuition, room or board.
  • Columbia University

    Tuition for 2014-15: $51,108
    Policy: Families making less than $60,000 don't pay tuition, room or board.
  • Duke University

    Tuition for 2015-16: $47,650
    Policy: Families making less than $60,000 don't pay tuition, room or board.
  • Harvard University

    Tuition for 2015-16: $45,278
    Policy: Families making less than $65,000 a year don't pay tuition, room or board.
  • Yale University

    Tuition for 2015-16: $47,600
    Policy: Families making less than $65,000 a year don't pay tuition, room or board.
  • Stanford University

    Tuition for 2015-16: $45,729
    Policy: Families making less than $65,000 a year don't pay tuition, room or board, and families making between $65,000 and $125,000 a year don't pay tuition.
  • MIT University

    Tuition for 2015-16: $46,704 (includes mandatory fees)
    Policy: Families making less than $75,000 a year don't pay tuition.
  • Dartmouth College

    Tuition for 2015-16: $48,120
    Policy: Families making less than $100,000 don't pay tuition.
  • With acceptance rates hovering at less than 10 percent at many of these schools, gaining access to the funding above is fiercely competitive. Do you think it's fair for students who don’t meet the Ivies' steep admissions standards to be saddled with crippling debt or should the ones that do be rewarded with an affordable, brand-name education? Let us know what you think in the comments section. And don’t forget that even affordable college tuition can still be expensive! Try and fund your education with as much free money as possible – a great place to start is by visiting Scholarships.com and conducting a free college scholarship search, where you'll get matched with scholarships, grants and other financial aid opportunities that are unique to you!

    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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UC President Apologizes for Calling Student Protests “Crap”

Mar 20, 2015

by Suada Kolovic

After serious public outcry, University of California President Janet Napolitano publicly apologized Thursday for referring to a UC student protest as "crap" the day before.

Napolitano's gaffe occurred Wednesday when two dozen underwear-clad student protesters interrupted the UC regents meeting to protest next year's widely contested tuition hike. The students began chanting and some stood up on chairs and stripped down to symbolize that the tuition hikes were costing them the shirts off their backs. Napolitano then turned to Board of Regents chairman Bruce Varner and said, "Let's go. We don’t have to listen to this crap." The private remarks were caught on a university video feed. Napolitano and the UC Regents have been subject to protests since they approved a tuition hike in November that would raise tuition 5 percent per year for the next five years; the increase would raise next year’s in-state tuition to $12,804 from $12,192 and ultimately to $15,564 by 2019. (For more on the story, head over to the Los Angeles Times.)

Do you think Napolitano's comment was out of line? What do you think of the efforts made by these students to have their voices heard? Do you agree with their form of protest? Share your thoughts in the comments section. And don’t forget to check out our Financial Aid section for more info on college funding and while you're there, conduct a free college scholarship search where you'll get match with countless scholarships, grants and other financial aid opportunities!

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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10 Colleges with the Highest ROI

Mar 6, 2015

by Suada Kolovic

With all the media attention on the student loan debt crisis and how universities continuously hike tuition, we have to ask: Which schools are worth the outrageous sticker price of about $200,000? According to PayScale.com's annual survey of colleges with the highest return on investment (ROI), Harvey Mudd College tops the list with a 20-year net ROI of $985,300.

PayScale.com’s data is pulled from 1.4 million pay reports from persons who obtained bachelor's degrees in the last 20 years. For more on the methodology, click here. Check out who made the cut below:

Did any of your top choices make the list? If not, would you consider a college based on its ROI? Share your thoughts in the comments section. And don’t forget that even affordable college tuition can still be expensive! Try and fund your education with as much free money as possible – a great place to start is by visiting Scholarships.com and conducting a free college scholarship search where you'll get match with scholarships, grants and other financial aid opportunities that are unique to you!

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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Is Earning a College Degree Worth It? Study Finds Modest Return for Some

Feb 10, 2015

by Suada Kolovic

It wasn't too long ago that the majority of Americans agreed that one had to pursue 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 reports, millions of college students don't graduate, suffer a mismatch between education and employment and are left with massive amounts of debt.

New research suggests that earning a college degree is no longer the surest ticket to the middle class. "'Ticket' implies a college degree is something you can just cash in," said Alan Benson, assistant business professor at the University of Minnesota. "But it doesn’t work that way. A college degree is more of a stepping stone, one ingredient to consider when you’re cooking up your career...It’s not always the best investment for everyone." Benson, along with MIT’s Frank Levy and business analyst Raimudo Esteva, co-authored a new paper examining the value of public university options in California. They found that factors like how long it takes to complete a degree and whether students even make it to graduation can significantly diminish the value of pursuing higher education. Unsurprisingly, the study also found that students who take out loans and don’t graduate on time incur much more debt. All in all, Benson concluded that the investment of a college education is generally better for those who graduate – on time – from a school with healthier resources. (For more on their research, click here.)

Do you think that a college degree is necessary for gainful employment and upward mobility? Share your thoughts in the comments section. And don’t forget to try and fund your education with as much free money as possible – a great place to start is by visiting Scholarships.com and conducting a free college scholarship search where you'll get match with scholarships, grants and other financial aid opportunities that are unique to you!

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!

Comments (31)

Don’t Tax My 529 College Savings Plan, President Obama!

Jan 27, 2015

by Suada Kolovic

Saving for your college education early is essential in the quest to actually affording it. And if you're lucky enough to have your guardians and relatives willing to help with college costs, the 529 tuition savings plan was the surest route to take. If you aren't familiar, the 529 tuition savings plan was designed to help parents begin saving for college by providing an investment option that allows them to withdraw funds for qualified educational expenses tax-free...or at least that was the case.

According to the Wall Street Journal, President Obama has proposed "rolling back" tax benefits of 529 college savings plans and "repeal tax incentives going forward" for Coverdell Education Savings Accounts. For now, both plans allow parents, grandparents or anyone looking to help fund a kid's education to contribute after-tax dollars into accounts that grow tax-free; when money is withdrawn for educational expenses, there’d be no tax either. President Obama has suggested changing the law so that withdrawals would be taxed as ordinary income. Yikes. Why the change? The administration has labeled the plans “inefficient” and complained that the benefit accrues too heavily toward higher-income Americans. (For more on this story, click here.)

With the plans as popular as they are – more than 12 million children from 7 million households are currently benefitting – what negative affects could the proposed changes have? Would they affect you personally? Share your thoughts in the comments section.

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!

Comments (6)

President Obama Proposes Free Community College

Jan 13, 2015

by Suada Kolovic

When considering the true cost of a college education, students must remember to factor in not only tuition but mandatory fees, room and board, books, supplies and living expenses. Unless, of course, you’re considering a community college: President Obama recently proposed free community college for all high school graduates for two years! Score!

The concept, according to administration officials, is not to target low-income students explicitly: Anyone will be provided the option of two years of tuition as long as they maintain a 2.5 GPA and attend school at least half-time. In effect, community college would be universal the way high school is. "Two years of college should be free and should be universal and should be of high quality for responsible students, just like high school is today," said Ted Mitchell, under secretary of education, the third-highest ranking official at the U.S. Department of Education. If the initiative is adopted nationally, officials estimate nine million people across the county could each save about $3,800 in college costs.

It's important to note that the President's proposal would involve the federal government and states combining to pay the entire cost of tuition for two years at a community college for any American who wanted it. And relying on taxpayers is where the program is likely to run into objections from Republicans in Congress: The administration estimates the program would cost about $6 billion a year. (For more on this story, click here.)

With the cost of a college education still on the rise, what do you think of President Obama’s proposal? Share your thoughts in the comments section. For more on the pros and cons of community college, head over to our College Prep section. And while you’re there, don’t forget to create a free Scholarships.com profile to help you fund your education.

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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New Bloomberg Effort to Help Low-Income Students Through College

Nov 4, 2014

by Suada Kolovic

In an effort to help talented low-income high school students get into and succeed in college, Bloomberg Philanthropies has announced a new initiative to do just that.

According to The New York Times, the effort will involve hiring 130 full-time college counselors and enlisting 4,000 college students as part-time advisers. Using video chat, email, telephone and text, they will mimic the support network — composed of guidance counselors, teachers, parents and friends — that more affluent high school students take for granted. "Many of America's brightest students don’t apply to college simply because they lack access to the right information and guidance, particularly students from low- and middle-income families who want to go to competitive colleges but don’t think they can afford it. That limits their opportunities and contradicts what we stand for as a society – and it holds us back as a nation because it prevents so many smart young people from contributing to the best of their abilities,” said Michael R. Bloomberg. This new initiative aims to directly help as many as 65,000 students a year! (For more on this story, click here.)

Share your thoughts on Bloomberg Philanthropies new initiative in the comments section. And don't forget to try and fund your college education with as much free money as possible; a great place to start is by creating a free profile on Scholarships.com, as our scholarship search allows you to search more than 2.7 million college scholarships and grants worth more than $1.9 billion!

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!

Comments (2)

On the Hunt for Merit Aid? Apply Here!

Sep 16, 2014

by Suada Kolovic

Here at Scholarships.com, we stress the importance of paying for your college education the best way we know how: with free money in the form of scholarships! And while scholarships might not fully cover your tuition and expenses, college applicants who aren't deemed financially needy in terms of their FAFSA should consider the importance of merit aid. It can make a huge difference in the schools they can realistically afford and students and families seeking this extra financial aid boost should consider researching schools more likely to dispense merit-based awards.

But with so many colleges and universities across the country, which ones are the best financial bets? Help has arrived in the form of U.S. News & World Report, which has compiled a list of the schools that awarded the highest percentage of merit-based funding to non-needy students during the 2013-14 academic year. (The stats do not include financially needy students who were given merit aid or students who received athletic scholarships or other tuition breaks.) Take a look:

High school students, does this data have you looking at these schools in a new light? Current college students attending one of the schools listed above, did merit aid make the difference as to whether or not you enrolled? Share your thoughts in the comments section. And as always, don’t forget to create a free Scholarships.com profile to get a personalized list of scholarship opportunities!

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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