Paying for Law School during the Recession

Posted by: Christina Dove

During the recession it has become increasingly difficult for many college students to afford the costs of college and higher education. In particular law school prices have skyrocketed and many students are struggling to finance the costs and pay back student loans. Many qualified and aspiring lawyers are at a crossroads in continuting their education in law or finding another job that will not require as much financing and repayment in the future.

Some of the financing options include seeking any scholarships that you think you may qualify for. The worst that can happen is that you do not get it and the best case scenario would be that you do get a substantial amount of money to cover the costs. In addtion, some schools offer private loan options that may cost less that a traditional bank loan and be much easier to qualify for. Another option is to be a TA for an undergraduate class that you have already taken or a TA for a first year law class during your second or third year of law school.

Despite the rising costs and less available financing, there are many students still applying to law school suprisingly. The number of law school applications have risen by 4.3% in the last year. However the number of graduating law students getting jobs has not increased at the same rate. Many aspiring lawyers are looking for the high paying jobs upon completing such a rigorous program and they are just not out there in this struggling economy.


Sources:

http://www.howtodothings.com/education/a4441-how-to-pay-for-law-school.html

http://www.salliemae.com/get_student_loan/find_student_loan/grad/law_school_loans/

http://www.citytowninfo.com/career-and-education-news/articles/recession-hammering-law-firms-but-not-law-schools-09072902

Hiring Is Rising in One Area: Low-Paid Interns

By Lingxiao Li



The new variation, now called an internship, is not the painstaking, multiyear experience it once was, but it still offers the same advantages: a chance for a worker to gain knowledge at little or no cost to the employer. In boom times, companies with too much work for existing employees — yet not enough work to justify another hire — may have turned to temporary workers. But with the economy still in the doldrums, companies again are opting for unpaid or low-paid internships to get the extra work done. And internships are no longer just the province of college students. More unemployed professionals are seeking them — whether to test-drive a new career or simply to keep themselves occupied, according to internship placement services. Mr. Rodems, of Fast Track Internships, said 10 percent of his clients were college graduates changing professions, compared with just 1 percent in 2008.
For employers, setting up an internship program is relatively easy and inexpensive. Veterans of the hiring process say business owners interested in offering internships should develop relationships with local college professors who can choose good intern candidates and seek legal advice to ensure that federal and state labor laws are followed. Business owners should have a clear idea of what they want from an intern and then interview candidates in the same way they do potential regular employees.

http://www.nytimes.com/2009/11/28/your-money/28interns.html?pagewanted=2&em
http://community.nytimes.com/comments/www.nytimes.com/2009/11/28/your-money/28interns.html
http://www.nytimes.com/gst/mostpopular.html

Positive changes coming for college loans

Posted By: Scott Graulich

If you've been to college, it's likely that you have them. Nobody likes them. They're confusing. They're annoying. They're a little scary. And they'll follow you until death (yes, even when you file for bankruptcy). If you haven't already guessed, they're student loans and they're on the docket for reform.

Two types of federal government guaranteed loans are available to help finance educational expenses: Federal Stafford Loans are provided directly to students and PLUS loans do the same for parents of current students. Currently, two federal programs offer these loans. In the Federal Family Education Loan (FFEL) program, banks provide the loans to students with the loans guaranteed by the federal government, which allows the loans to be offered at low interest rates. In contrast, funds for the Ford Federal Direct Loan (Direct Loan) program come directly from the federal government. Since the passage of the Omnibus Budget Reconciliation Act of 1993, which created the Direct Loan program, higher education institutions have been able to decide whether to provide student loans through private lenders (FFEL), directly from the federal government (Direct Loan) or from both sources.

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Five Best Financial Choices For College Students

Posted by: Scott Graulich

When it comes to financial matters like selecting a bank, college students tend to be copycats and follow their parents' lead. That can be a mistake, given that the financial institutions with the best deals for well-endowed people may not offer the smartest choices for students who are just starting out. With that in mind, we've picked the best options for college students in five broad areas: checking accounts, savings accounts, credit cards, student loans and investment accounts. By best, we mean products that charge the lowest fees and require the smallest minimum balances.

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Students Relying on Loans Wonder Whether Forgiveness Will Last

By Lingxiao Li


The good news here is that the federal Department of Education says that almost all its loan forgiveness programs are safe. “It doesn’t depend on some future Congress for us to come through on most of these,” said Robert Shireman, deputy undersecretary of education. “The majority of them get appropriations for the life of the programs.”
But many states say that financing their loan forgiveness programs depends on state budgets. Given declining tax revenues, that doesn’t inspire much confidence. On Thursday, for instance, Gov. M. Jodi Rell of Connecticut proposed cutting the state’s minority teacher grant program, which awards a stipend that is intended to help students pay off their loans, said Constance Fraser, a Connecticut Department of Higher Education spokeswoman.
The states’ changes — or the mere threat of them — are the latest of several ugly financial developments that have shaken individuals of all ages who thought they were playing by the rules. There are the investors close to retirement who thought they were being conservative only to watch their savings decline 25 percent before bouncing back a bit recently. And then there are homeowners in Miami and Las Vegas with plain mortgages who have found the value of their properties plummeting because of the bad behavior of many banks and their customers.
As for the loan forgiveness programs, they have been around since at least the late 1960s, according to Mark Kantrowitz, publisher of the financial aid site finaid.org. States sponsored them first, to keep residents from moving or to encourage graduates to enter careers where there was a shortage of professionals in particular locations or in certain lower-paying fields. Now, the federal government is involved, too.
So loan forgiveness programs are not some sinister form of social engineering. Nor do they encourage overindebtedness, per se. Education costs what it costs, and if you need to borrow to attend and intend to eat while doing so, then borrow you must. In fact, borrowing to prepare for a career in nursing or law enforcement makes perfect sense if governmental entities are promoting loan forgiveness programs.


http://www.nytimes.com/2009/05/30/your-money/student-loans/30money.html?pagewanted=2
http://www.nytimes.com/pages/your-money/index.html
http://www.nytimes.com/2009/05/27/your-money/student-loans/27forgive.html?scp=3&sq=glater%20and%20kentucky&st=cse

Colleges Struggle to Preserve Financial Aid

by Geraldine Fabrikant
posted by Lily Mei

For years, as the stock market roared, educational endowments swelled, helping private secondary schools and colleges provide more financial aid, expand and attract better faculty. But with the financial markets in crisis, those days are over.

Today educational institutions are cutting spending, delaying projects and holding off on hiring. While many schools and colleges say their commitment to helping families pay the costs of education will not waver, some experts maintain that as investments shrink and donations fall, some institutions will be forced to cut back on financial aid.

Morton Schapiro, president of Williams College in Massachusetts, which has long had a commitment to accepting students without considering their financial situation, said he doubted that all colleges with such full need-blind policies would be able to hold to them.

"The major dial you turn for most financial crises is that you admit more students who can pay, as a way of increasing revenues," Mr. Schapiro said. "With the tremendous decline in wealth, I think fewer people will hold on to needs blind."

Molly Corbett Broad, president of the American Council of Education, a group of 1,800 public and private colleges, said the problems would be worse where endowments are smaller and enrollments larger, like at some public universities. "The farther down the food chain you go in terms of endowment per student," she said, "the harder it will be to sustain need-blind admissions."

One of the few college presidents speaking publicly about making some adjustment is Douglas Bennett of Earlham College in Indiana. About 18 percent of its students are from families with less than $60,000 in income and receive financial aid.

"If you are truly need-blind, you can go broke," Mr. Bennett said bluntly during a telephone interview. "It is like writing a blank check to the world."

The relative share of financial aid that is picked up by the government is declining as well, he added. As the burden is shifted to families and institutions, Earlham is trying to figure out what to do. The college is particularly concerned about students that it accepts and enrolls but whose financial needs it may not be able to meet.

Mr. Bennett said Earlham, which had a $350 million endowment at the end of June, was considering limiting its need-blind admissions policy to three-quarters of the class. The college would then know how much it had committed in financial aid and would be able to take that into account in admitting the remaining 25 percent.

Endowment management at most colleges involves a "smoothing strategy" that tries to blend spending over good years and bad in the hope of avoiding abrupt layoffs or other cuts if the endowment falls precipitously.

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Common College Expenses

Posted by Lindsey Connell

An important thought for many high school graduates is how much money they will need for their first year at college. Although this amount varies from person to person, the expenses are generally the same. Some major expenses to consider are who will pay for gas if the child has a car or who will pay for their phone bill. It is also to be expected that expenses will be more at the beginning of the school year and at the beginning of the college experience. Other costs are book fee which can be extremely expensive as well as parking passes. Besides this, students may need money for gifts for friends, for tolls or other expenses during traveling, and new clothes or essential hygienic products. Food is another major expense because not only do students go out to eat every now and then, they also have to pay for meal plans or pay for buying their own food from the grocery store. Although most students don’t turn 21 until their junior or senior year, many college students of all ages spend a significant amount of money going to parties or the bars. Although small purchases such as buying an outfit or movie ticket here or there eventually add up and can create financial issues if not budgeted for correctly.

http://www.encyclopedia.com/doc/1G1-200558578.html
http://college.lovetoknow.com/Amount_of_Spending_Money_a_College_Student_Needs
http://www.collegeanswerguy.com/index.phpoption=com_content&view=article&id=134:spending-money&catid=35:money&Itemid=45

Tips For Paying For College

Posted by: Janielle Viggiano

Paying for college could potentially not only put your parents in debt but also yourself if you’re the one bearing the loans. The first thing you need to do is to start planning early! Begin organizing and planning college visits either before or by your junior year of high school, you should have a general idea of the schools you will be applying to. After narrowing down your choices you need to figure out how much it will cost you. Use the calculator from Sallie Mae to estimate your cost. Start saving small amounts over a long period of time early on.

There are also other options to think about when paying for college. The first being: accelerate your degree. Accelerated classes can cram a semesters worth of classes into a six to eight week class, which can help you to move up your graduation date. Second, be a transfer student. In many cases the credits taken at a less expensive school can be transferred and applied to a more elite and expensive school. Third, go where you’re wanted. There’s always a school out there that is dying to have you as a student. Fourth, choose a tuition free school. Tuition free schools only require that you work 10 – 15 hours a week on campus and in jobs related to their majors. Fifth, get a sponsor. Federal loans are the best way to borrow money for school. Sixth, lock in tuition. Some colleges offer a locked in tuition, so that you will pay the same rate for all four years. Seventh, work off debt with community service. According to Bankrate, “Recent college grads can cancel part or all of their federal-education debt by working in public-service jobs -- lower-paying professional jobs that serve low-income communities -- or by volunteering (2009).”

There are also four rules of paying for college in a recession which include:

1. Grades matter more than ever- According to US News, “The better the student, the more college options the student will have and the more likely it is the student will receive scholarships or win admission to a low-cost school (2009).”
2. Early birds will get more scholarship worms
3. Students should apply to at least a couple affordable schools
4. Students should apply to at least a couple generous schools- Some of the most expensive schools by sticker price also give out huge scholarships and can actually be cheaper, in the long run, than public schools for many students.

Sources:http://www.washingtonpost.com/wp-srv/business/longterm/mym/college/college.htm

http://www.bankrate.com/brm/news/cheap/20030528a1.asp

http://www.usnews.com/blogs/college-cash-101/2008/12/15/the-4-rules-of-paying-for-college-in-a-recession.html

Graduate Degrees With the Best Futures

By Lingxiao


In a tough job market, it makes sense to look for ways to set yourself apart from the competition. This year, 26 percent of graduating seniors headed for a graduate or professional degree, up from 24 percent last year, according to the National Association of Colleges and Employers, a professional association. Add to those ranks people who are working but want to go back to school -- or who are simply not working and are applying to school as a back up -- and enrollment swells even more.
In this blog, I will be sharing some great information for Business related industry job seekers. Employment of executives expected to show little or no change between 2006 and 2016; employment of management analysts expected to grow more than 21 percent between 2006 and 2016. Statistically, graduates of MBA programs do earn more than those without the degree, Haefner says. But that observation "doesn't necessarily mean you're going to get, dollar for dollar, in your salary what you paid in tuition," she says. Prospective students interested in an MBA should keep in mind that career opportunities, particularly in finance, are changing rapidly, making it all the more important to do careful research, including informational interviews, Sims says. "An MBA might not have the same meaning in three to five years that it had in the past 10," she says. Over the last few years, workers with MBAs have found opportunity in a greater variety of fields than they typically did in the past, says Haefner. And among the class of 2009, more students in MBA programs had found jobs before graduation than in other programs, according to research from the National Association of Colleges and Employers.

http://finance.yahoo.com/college-education/article/108203/graduate-degrees-with-the-best-futures?mod=edu-collegeprep
http://finance.yahoo.com/college-education/article/107863/mba-pay-riches-for-some-not-all?mod=edu-continuing_education

Tuition Costs Increase Despite Sour Economy

Posted By Christopher Johanning


The College Board’s latest study on college tuition shows that the price for college has risen by 6.5% — right in the teeth of the recession. But all is not lost. For students and families, there are some more pleasant figures in the study, too.
BankingMyWay will open this — the week before Thanksgiving break for collegians — with a look at college prices going into 2010.
The Big Kahuna of college cost barometers is the College Board’s annual tuition report. This year, the study says that the average price for four-year public colleges climbed $29 on a year-to-year basis to $7,020. Tuitions at private four-year colleges rose 4.4% for 2008-2009 bringing the average yearly cost to $26,273, the College Board says

to read more....

10 Secrets to Raising More Than $15,000 for College

Posted by Nick Porcell

Grandparents are pitching in. Students are working more, and eating less. Parents are taking out more and bigger federal loans.

As the economy has declined and college costs have risen, families have buckled down and become more resourceful to pay for college.

They have been so successful at funding tuition that college enrollment is up dramatically. A record 40 percent (or 11.5 million) of 18- to 24-year-olds are taking at least one college course this year. Add in all the adults returning to school because of the lousy job market, and the total number of college students is likely to exceed 19 million this year.

How are more students affording tuition even though many colleges' prices are at record highs and many scholarship programs, private lenders, and family savings accounts have been wiped out?

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Paying for College 101

By Jorden Meltz

The past year and a half has affected the finances of everyone and the impact it had on colleges was no different. Creditors have begun to downgrade some Universities debt and now nearly one in every three private universities in planning for a decrease in tuition for the next year. This comes after the Student Aid and Financial Responsibility Act was passed in September, which will now eliminate college and universities need to rely on private sources for student loans and instead the loans will now come directly from the government. In response, Bank of America has suspended its federally-backed student loan program, as the U.S. prepares to phase out the Federal Family Education Loan Program. The new act will help to further ensure that families in need of loans to pay for college will have access to them through this federally backed program. The act comes as no surprise as the past year has seen both a decline in private sources making themselves available to give loans and a heavier reliance upon federal loans. Although students will not receive better interest rates on the loan, the act helps to make sure their is a larger pool of money to make loans with and that a greater number of people will have assistance in paying for their education if they need it.

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College loans could contribute to tuition hikes

By Jeremy Davis

Posted by Leah Gorham

It’s safe to say the hardest part to stomach about college is the tuition fees.

In order to combat the rising tuition rates, students engage in a staple ritual of college life: obtaining student loans.

Without them, most of us wouldn’t be able pursue a college career or afford the outrageous tuition. But most of us never thought one major culprit contributing to rising college costs may actually be the loans themselves, government-guaranteed student loans in particular.

College tuition increases all the time, and as we know, UC is no different, with a possible increase in tuition for the 2010-11 school year.

As it stands now, yearly tuition rates at UC for the 2009-10 academic years are currently $9,399 for in-state undergraduates and $12,723 for in-state graduates. Only a decade ago, yearly tuition rates were $4,998 for in-state undergraduates and about $5,880 for in-state graduates for the 1999-2000 academic year. Tuition has nearly doubled in 10 years; that’s a painful and significant difference.

So the more tuition goes up, the more loans students take out, which in turn will contribute to future increases, keeping the cycle going.

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College Tuition: Going for Broke

Posted by Jorden Meltz

Cash-strapped families were dealt another blow this fall as tuition at public and private colleges for the 2009-10 academic year continued to outpace inflation, the College Board said in a report released on Oct. 20.

This year's College Board report shows average increases of 6.5% for public in-state tuition and 4.4% for private colleges. The consumer price index declined 2.1% between July 2008 and 2009, meaning that inflation-adjusted increases in prices this year are significantly larger than current dollar increases, the College Board says. At the same time, family net income has barely budged over the past decade, says Sandy Baum, a senior policy analyst with the College Board.

The spiraling cost of higher education comes at a time when institutions are reeling from the aftershocks of shrinking state aid, battered endowments, and significant budgetary pressures. Schools managed to temper some of these increases by doling out more institutional aid and grants to students, a move that made the sticker price less painful for the 18.5 million students projected to attend college this year. Last year, about two-thirds of full-time undergraduates received grants, with students receiving on average $5,041 in grant aid, up from $4,656 the year before, the report says.

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Covering college-tuition loans -- somebody give me some credit!

Posted by Nick Porcell

With two daughters in college, tuition loan repayments were stacking up, and my wife and I felt the weight of multiple monthly payments kicking in. We began to realize what a job it was to keep track of all the loans, and figured there had to be a better way.

Remembering we'd gotten good advice from the credit union on retirement accounts and mortgage refinancing, and eager to avoid any lender that smelled like last year's banking industry meltdown, we called our adviser to set up a new strategy for squeezing tuition payments into the family budget.


The good news came quickly. "Call the loan office in the morning," our adviser said. He agreed that using the equity we'd built up in our home to pay tuition bills would liberate us from the structured federal loan programs. If things went as expected, it would allow us to repay on our own terms, at 3.99 percent (I know!), and 'defer' if we needed to, by making only minimum payments in tight months.

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The Price of Education

By Jorden Meltz

At a time when figuring out how to more efficiently save money and follow a budget have become a priority for a majority of the country, the one thing that has become more difficult to plan for is college. This past year tuition and fees at public universities increased by 6.5% and at private universities increased by 4.4%. This comes at a time when many families have seen their college savings decrease in value and a continued growth of number of students applying to college. According to the College Board at least fifty-eight private colleges and universities charge at least $50,000 a year for tuition, room and board, and fees. Although the 2% decrease in the consumer price index has brought relief to many, for those in the college planning stages these growth rates will be very difficult to account for. With Healthcare reform at the forefront of many political discussion and legislation, it seems that discussion about how to make college more affordable if these tuition rates continue cannot be too far away.

College President Salaries Continued to Climb

Some salaries increased by 15 percent before the economic crunch hit
By Kim Clark

In the year before the economy collapsed, the paychecks of private college presidents continued to climb, according to a new analysis by the Chronicle of Higher Education. The typical president of a private college got a raise of more than $26,000, or 6.5 percent, to bring the total pay package up to $358,746. Pay was higher and rose even faster at major private research universities: The median pay of $627,750 at those institutions represented a one-year jump of 15.5 percent. In addition, the Chronicle found that 85 of the 419 private colleges surveyed were paying at least one former employee more than $200,000.

Chronicle researchers noted that the numbers were for the fiscal year ending June 30, 2008—the most recent data available—and the salary inflation might have been reined in since the recession began. For example, many university presidents have accepted pay cuts or reduced bonuses in the past year.

News of the rising costs of administrators comes as colleges continue to raise their tuition faster than inflation. The College Board reported last month that the average private university has raised tuition by almost $4,000 since 2006 to $26,273, 10 percentage points faster than inflation.

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Higher higher ed

Posted by Jorden Meltz

CONSUMER PRICES fell 2.1 percent between July 2008 and July 2009, but college tuition kept going up. Students entering public four-year institutions this fall confront published tuition rates more than 6 percent higher than they were a year ago. Private colleges and universities ticked up 4.4 percent. To be sure, these figures apply to the "sticker price" of college only: grants and loans (many of them subsidized) cover much of the tab. But the contrast between the country's belt-tightening and higher ed's price hikes is striking nonetheless.

The recession itself is a major cause. The downturn forced state governments to slash support for the public systems that more than 70 percent of undergraduates attend; it also shrank the endowments of private institutions. Congress and the Obama administration supplied aid to the states in the stimulus bill, plus $30.8 billion in extra tax credits and Pell grants for students. But this only partially mitigated the impact.

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New law to help in paying back college loans

By Sally Holland
Posted by Leah Gorham

WASHINGTON (CNN) -- As a graduate from Syracuse University with a master's degree in international relations, Jana Morgan was hoping to help victims of human rights violations caused by resource wars.

The tight job market, though, has made her put those dreams aside for now while she pays her bills -- by waiting tables at The Barrack's Inn in Sackets Harbor, New York.

Morgan is realistic about her future income options. "If you are going into public service, you aren't going there to make money, you are going there to help people," she said in a recent interview.

Her less-than-anticipated income means that it is difficult for her to make her student loan payments for the nearly $80,000 in debt she accumulated getting through college. Morgan is looking at a new law that goes into effect July 1 that would help her cap her student loans at 15 percent of her adjusted gross income.

Then, if she completes 10 years of public service, her loans would be dropped completely. Based on her current income, her $800 payments would go away for the time being, according to calculations she did on the Department of Education's Web site.

The College Cost Reduction and Access Act that created the new Income-Based Repayment program was signed into law in 2007 to help make student loan payments more manageable.

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Banks, credit unions offer help saving for college

Posted by Jorden Meltz

As the volatile market batters college nest eggs, a growing number of financial institutions are rolling out incentives to help families save or pay for higher education.

Citizens Bank is giving a $1,000 bonus to consumers who open a college savings account by a child's sixth birthday. Justice Federal Credit Union — which serves Department of Justice and Homeland Security employees — is offering a discount on a loan to pay for college costs. And Grow Financial Federal Credit Union in Tampa is donating money to student scholarships based on a local university football team's "return yards," which is how far players run with the ball after receiving a punt or kick.

The incentives won't significantly ease the pain of surging tuition or shrinking investment portfolios. Yet banks and credit unions hope that their efforts will provide some comfort to consumers as they struggle to finance their children's education.

Yearly tuition and fees at public four-year colleges have risen 62% in the past decade, to $7,020 in 2009, after adjusting for inflation, the College Board says.

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7 Alternatives to Pay for College

Posted by Nick Porcell

The news on college costs is mighty grim, but there are plenty of creative ways to keep your college dream on track.

Dwindling state and federal aid, lower endowments and drops in fund raising have forced many colleges and universities to raise tuition prices and cut back on financial aid programs.

What's a cash-strapped student to do?

Never Give Up on Scholarships

You don't have to be a stellar student to land a big scholarship. Unless it's strictly an academic scholarship, your grades don't really matter. As long as your grades make the cutoff, often a 2.5 GPA or higher, you have as good a chance as any applicant of bagging a scholarship.

And there's no reason your scholarship search can't continue through four years of college.

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Rising College Tuition and How to Handle It

By Leah Gorham

According to a survey released by the College Board Tuesday, tuition and fees at private 4-year schools rose 4.4% in the current school year to $26,273. Charges at public 4-year universities spiked as well, over 6% for both in-state and out-of state students. There are several reasons why tuition costs are going up. Private schools have seen their endowments shrink and public schools are suffering from a drop in state funding, which decreased 5.7% per student this year. Moreover, the availability of financial aid isn't keeping up with these climbing costs. Grant funding grew only 4.7% in the 2008-2009 academic year. As a result, student loans are also up, with total borrowing increasing by 5% between the 2007-2008 and 2008-2009 school years.

Looking at these numbers we may wonder, why even during a recession do college tuition rates continue to rise and where does all the money we pay for tuition really go? At many colleges with tuition rates on the rise, management is more similar to a political environment then that of a private corporation. In other words, colleges are not good at cutting programs when they add. For example, it is hard to cut faculty members because of tenure and many colleges also spend more on nonfaculty salaries than it does on pay for the teachers.

There are several strategies one can use to make paying for college a little bit easier on the wallet. It is important to use savings strategically, such as pulling money out of a 529 savings account before borrowing, even if the account has been devalued over the past year. It is also important to borrow smart by using Stafford loans and PLUS loans and check for available tax breaks for paying college tuition. Also, always encourage someone applying to college to apply to several safety schools and to apply to two or three schools with average GPA and SAT scores lower than theirs. They may be able to get more financial aid from these schools, who are looking to boost their reputation by attracting smarter students.

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College Costs Jumped $1,000 in 2009

Posted by Leah Gorham

On the bright side, scholarships totaling an estimated $71.2 billion were handed out last year

By Kim Clark

The total sticker price of a year at a typical university rose by more than $1,000 in 2009, even though living costs, as measured by the consumer price index, fell.

The average asking price for tuition, room, board, books, and all other expenses at public universities jumped by $1,062, or 5.8 percent, to $19,388 for the academic year that has just started. The total student budget for private colleges rose by $1,638, or 4.4 percent, to $39,028, the College Board reported today as a part of its annual analyses of college prices and financial aid trends.

The tuition prices have risen even faster than recent and significant increases in federal grants and education tax breaks, the College Board calculates. That means the net out-of-pocket costs of a year at college rose several hundred dollars in 2009, while families struggled through a recession.

"Families are facing these prices with incomes that are not making any progress at all," Sandy Baum, a College Board analyst, noted. Considering how public colleges and universities, especially, have had their state subsidies slashed over the years, however, Baum said the tuition increases could easily have been worse.

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5 Tips for College Students to Boost Credit Scores

By Leah Gorham

It is important to being keeping an eye on your credit score in college because once you graduate and are on your own, you will need to have a good credit score in order to open new bank accounts, get a new apartment, condo, or house, or buying a new car. Here are 5 tips from CollegeCandy.com to build a good credit score:

1 .Get a Credit Card
You can't build credit without having a credit card. Get a credit card and charge a couple small things on it each month, making sure to pay off the bill in full. Paying your bill in its entirety will show you are responsible and handle money well.

2. Put Your Name on the Bills
Although your parents may be paying many of your bills during college, you won’t have very strong credit references when it’s time to get out on your own if nothing is in your name. Start small by putting bills such as the cell phone bill in your name.

3. Pay What You Can and Pay on Time
Pay more than the minimum payment on credit card bills. Paying only the minimum payment will result in large finance charges and higher balances, causing your credit score to suffer.

4. Keep Old Accounts Open
Do not constantly open credit cards and then close them or build up large amounts of debt and transfer your funds to a new card, and close the first account. This type of activity will show that you are a sporadic and unorganized spender. Instead, find one or two really good credit card deals that you can use for years and stick with them.

5. Keep an Eye on Your Credit Score
Regularly check and monitor your credit score so that if it starts to slip you’ll be aware and can re-anaylze your spending and try to get those numbers back into good standing. You’ll also be able to monitor your activity and prevent fraud, identity theft, or unwarranted charges. Use a service such as FreeCreditReport.com or speak to a financial expert to find out your current situation.

For more information on these 5 tips click here.

How to Build Your Credit Score in College

Posted by Mary Clare McGraw

First, a good way to get started is to open a checking and savings account. If you are going to take out a small loan, while still in college, try to co-sign on the loan with someone who has great credit. You basically get to piggyback on their good credit. The thinking is that if someone with great credit is willing to cosign with you, and you pay your bills on time each month, you’re probably very credit worthy. It’s like getting someone to vouch for you. It’s an excellent way to build credit extremely fast. You can try a student credit card but make sure to be careful about the card you sign up for. Don’t take a credit card offer that you get in the mail because they can charge as high as 21% interest! Signing up for a store credit card at your favorite store could be a way to ease into building your credit by only having to pay a bill when you shop at that one store. It minimizes the amount of bills you will have to deal with at first and it is more difficult to rack up a large amount of debt at one store than at various stores you may shop at in one day even. Getting a loan is a good way to build credit in college, even if it is subsidized and there is a grace period until after you graduate. Lastly, if you have a credit card, be sure to use it every month but try not to charge more than 30% of your credit limit. Keeping your balance below this amount shows creditors that you are responsible with credit and are not very likely to overextend yourself financially.

GoCollege.com

Paying For College In Tough Times

Posted by Nick Porcell

If there's one thing that might take your mind off the sorry state of your own retirement, it's worrying about how you'll pay for your kids' college education. Even parents who thought they'd saved enough are coming up short and wrestling with financial aid forms that make tax returns look like child's play.


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Great efforts on College Finance

Posted By Shawn Gao

Let Obama help students in the recession. Students do not need borrow money from private companies anymore. And bigger range covers more low and middle-income families. Although students are still bearing, they could try to trust the government. Don’t afraid of taking loans from the government because it is more legislate and affordable than private companies. By taking loans from the government, students would have lower interest rate than any private companies. Also, there are 529 plans available for students to take. Moreover, wherever the students are, they can choose those 529 plans all over the United States. In order to let students directly borrow money from government, it eliminated repayments for private companies. More and more low and middle-income family students could join in these plans. Thus, the students don’t have to worry about paying off their tuition again. The responsible government will help them. The new proposals are released just help more students. Obama government release billions of money in order to make sure big range of low-income family students can be benefited by the new proposals. By taking advantages of the proposals, students are taking the loans without more debts. Students are more glad to take loans.
reference:
1.http://www.forbes.com/2009/09/10/college-fafsa-529-plan-personal-finance-obama-overhaul.html
2.http://www.onlineathens.com/stories/092709/opi_497788246.shtml
3.http://www.google.com/hostednews/ap/article/ALeqM5jlMpJGn28kqCcgU-aGcYE_ZHW-ywD9AP7STG0

Obama put effort on college finance

Obama Proposes College Finance Overhaul

Posted by Shawn Gao

The Obama administration released two proposals on Wednesday that may change how middle-class families pay for college. The goal of the suggested changes is to expand the use of state and federal programs by low- and middle-income earners by making them easier to use. The proposals would affect 529 college savings plans and the federal application required for almost all financial aid.
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Finding Your Way Around College Finance

by Quang Nguyen




Many students go through their college years thinking they will repay their debts after graduation. They think that there is nothing they can do right now. However, budgeting is the most important thing college students should do right away when they get into college. The first step you should do is keeping your receipts from shopping at either the bookstore or the local market. After keeping them for a month, you can put the information down on a spreadsheet and see your expenses for yourself. From your expense information, you can create a short term and long term goal for yourself in term of financing. Short term goals would be paying rent, meals, and books. Medium term goals would be paying for the vacation you will take during spring break, or how to be financial confident when you study abroad in Europe next year. Finally, long term goal would be paying off your college loans and maybe investing in the stock market or a mutual funds that will give you a good starting budget for your expenses after college.

When you get a job after college, there are some quick steps that you should do in order to ease your college loans payment. First off, you should set up a direct deposit so that your wage go straight into your account. This way, you don't have a receive your money late. A couple of days does matter since you might be getting a new higher interest on your college loans. Then you should enroll in a benefits from work right away. Some say that benefits might worth more than wage since you have to pay income taxes with your wage but not benefits. You also might want to open a saving account that generate interests. In addition, as soon as you start working, you should think about your retirement plan right away because the sooner you start, the more money you will get at the end.

The Wall Street Journal reports that college students borrows more than ever. The U.S. Department of Education claims that student loan disbursement grew as much as 25 percent from last year to as high as $75.1 billion. It is reported that two-thirds of college students have debts in average $23,186 each. This is a huge amount of money that they have to pay back. Furthermore, students who go to grad schools incur a debt as much as hundreds thousands of dollar. In this economy it is a good question if they will be able to pay back their debts and still keeping up with other expenses one must have like rent and food. This is why students need to look at their financial situation more seriously and start budgeting as early as possible.

Source 1

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Invest into your prosperous future!

By Alma Zhumagulova

A study done by College Board in 2007, Education Pays, found out that “people with a bachelor's degree earn over 60% more than those with only a high school diploma.” And later on this difference gets even wider – the “earning potential between a high school diploma and a B.A. [exceeds] $800,000”. Therefore, even though these times might not seem as the most conducive for going to college, students should still consider the long-term advantages that it will provide. There are plenty of ways to get the education you want at a much lower price than you expect.
According to bankrate.com, even average students should never give up on scholarships, and search for scholarship sources on sites such as FastWeb, College Board, Wiredscholar.com and ScholarshipCoach.com. If you did well in high school then most likely you will have more options to consider and more chances to get scholarships. As I read on the usnews.com, “some of the most expensive schools by sticker price also give out huge scholarships and can actually be cheaper, in the long run, than public schools for many students.” So study hard in high school!
In addition, there are many colleges that offer accelerated degree programs, so that you can have your bachelor degree in 3 years, or receive your master’s degree along with your bachelors at no additional cost. You should also consider transferring from a cheaper college or a community college to your dream college in your junior year, which will definitely save you a lot. There are even some tuition-free colleges where you need to work in your major-related area 10-15 hours per week to compensate. By going into the public service sector after you graduate or by volunteering you can cancel a significant amount of your federal education loans.
Overall, whatever the times are, education is a huge investment that will well pay off in the long run, keeping in mind you make wise decisions!

References:
Source 1
Source 2
Source 3

Students Get Creative to Pay Off Tuition

by Jameel Murray

Because of the rising tuition costs, students are forced to take out loans that can have them in debt for the majority of their lives. However, some students are becoming increasingly creative in order to pay off the large tuition bill. Students like Corey Walker, an aspiring anesthesiologist who attends Palm Balm Atlantic University, started a blog that asks sponsors to help pay off his college tuition. The blog, helppay4college.blogspot.com offers visitors the opportunity to donate money and also gives Walker the opportunity to do something in his free time.
Many students like Corey Walker are discovering new and creative ways to paying off their huge tuition bill. Tuition has skyrocketed out of control, often leaving students with limited options. According to Krista Walker, a student attending Idaho State University, students are sharing books so they don’t have to buy them. Other students are simply working part time jobs to help purchase food supplies and other necessities. Some students are even selling their sporting event tickets, cashing in on money that can possibly help pay off some tuition or debt. According to Rachel Klosterman, a senior at The Ohio State University, she got $475 for selling her Michigan-OSU game ticket.
We are all aware that college tuition has gone out of control but there are solutions. Students are needed to begin their own ventures that will assist in paying off tuition.

Sources: http://uweekly.com/newsmag/09-23-2009/12370
http://www.localnews8.com/global/story.asp?S=10989269
http://www.wpbf.com/money/21092791/detail.html

Money, money here I come!

By Jonathan Tse



Choosing a college major may often seem like a very tough decision because there are so many factors involved. Often most people think that the major they choose will have to be the career that they pursue, but that is not always the case. Still, choosing a college major is still a very important decision of every college student.
Recent studies have shown that the most money-making majors involved mathematics. The major that topped the list of the best paying jobs was chemical engineering. Research shows that only around 4% of all college graduates pursue a major that involves math. This trend in the need for college graduates with proficiencies in mathematics is mainly due to the technology-driven society that we live in today. The five worst-paying jobs turned out to be social work, special education, elementary education, home economics, and music/dance.
The key to making money does not always depend on the major chosen due to the various skills and interest of different people. Passion and desire to progress are more important. If one is interested and works hard to pursue in a certain field, money can still be made. Also, undergraduate degrees do not bind one to the field of the major chosen. Most of the time, if one decides to go to graduate school, the major of the undergraduate degree is rarely a concern. So one can choose to study a completely different topic in graduate school and still succeed. One must understand where one’s passion lies and pursue it no matter what. There is no specific major to choose or way to make money. It all depends on where one’s interests and skills lie.

http://money.cnn.com/2009/07/24/news/economy/highest_starting_salaries/index.htm?postversion=2009072404

http://encarta.degreesandtraining.com/articles.jsp?article=featured_5_lowest_paying_majors_and_what_you_can_do_about_it

http://www.salary.com/learning/layouthtmls/leal_display_nocat_Ser285_Par409.html

For-profit colleges' increased lending prompts concerns

Posted by Quang Nguyen




Some of the nation's biggest for-profit colleges and vocational schools are boosting enrollment in tough times by making more loans directly to cash-strapped students, knowing full well many of them probably won't be able to repay what they borrowed.

The schools still make money because the practice boosts their enrollment and brings in tuition dollars subsidized by the government. But some of these students could end up saddled with high interest rates and loan payments they can't handle, a burden that could damage their credit for years to come.

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Most lucrative college degrees

posted by Jonathan Tse

Hint: Grab a pencil, calculator, protractor ... or a drill. Engineering majors snag most of the top spots.




(CNNMoney.com) -- Math majors don't always get much respect on college campuses, but fat post-grad wallets should be enough to give them a boost.

The top 15 highest-earning college degrees all have one thing in common -- math skills. That's according to a recent survey from the National Association of Colleges and Employers, which tracks college graduates' job offers.

"Math is at the crux of who gets paid," said Ed Koc, director of research at NACE. "If you have those skills, you are an extremely valuable asset. We don't generate enough people like that in this country."

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More Help With College Expenses

by Jill Boynton
posted by Jameel Murray

As part of the American Recovery and Reinvestment Act of 2009, computer equipment and technology has been added to the list of qualified expenses that are eligible to be paid from money in a 529 plan. For the years 2009 and 2010, the cost of purchasing any computer technology, equipment or internet access and related services are approved expenses.

529 plans are used to save money for college tuition, room and board and other expenses. When used for a qualified expense, withdrawals from a 529 plan account are tax free.

The IRS said covered computer and related peripheral equipment includes any supporting equipment designed to be placed under the control of the computer, such as a printer. Education software also qualifies although computer games do not, unless educational in nature. The beneficiary must use the item while enrolled in an eligible educational institution.

Be aware however that expenses for computer technology are not qualified expenses for the American Opportunity credit, Hope credit,Lifetime Learning credit, or tuition and fees deduction.

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Caught in the college arms race, students and parents pay more and more

By Nick Perry

Posted by Alma Zhumagulova

COLLEGES ARE like the cookie monster. They seek and devour every resource in sight, with few constraints and even less restraint. At least that's how Ronald Ehrenberg describes it when explaining the big question on the minds of so many parents:
Why does college cost so much?
"Our sole goal is to find cookies and stuff our mouths," says Ehrenberg, who directs the Higher Education Research Institute at Cornell University. "Colleges and universities like to grab as many resources as they can. We want to make ourselves as good as we can. We want the best facilities, students, resident halls and labs, so there's this tremendous drive to be better, and that costs money." For a long time, he says, "there's been no check on this drive to get better, because the lines of students wanting to get into institutions keep getting longer."
Of course, the U.S. higher-education system has long been the envy of the world. A college degree has become a requirement to enter almost any profession, and can increase lifetime earnings by a million dollars or more.

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Time To Change Student Loan Program

Posted By Shawn Gao

Relationship between federal government and private lenders are going to change. There is no more "heads the corporation wins, tail the government loses” business model played in recession time. New policies of Student Loan Program, issued by the government, is pushing the private lenders out of marktet.
The goverment is making bill which will make student loan program by itself, and wipe out any other private lenders in the industry. Also, if the bill becomes true, Federal Family Education Loan program - also known as FFELP (Under FFELP, a wide variety of private firms make loans to college students and are guaranteed a certain return on those loans, with the government making an allowance payment if the interest paid by students isn't sufficient to meet those guarantees.)will be eliminated.
It was not the beginning of the change. Ever since Clinton years, the government had already been trying to make student loan program directly by itself. "According to the Bush Administration’s own figures, it costs the government four times as much to back private loans as to make the loans itself, and the Obama Administration estimates that getting rid of the subsidies and guarantees will save close to $90 billion." (James Surowiecki) It is no doubtful that high profit time for those private lenders are ending, but bring new conflicts between government and them.
This conflict made private lenders go on strike. Their issues are making student progame by the government would cause 35,000 to 50,000 people lose their jobs in lending industry. Meanwhile, they do not believe that the government could make the business as well as they did in the past time. On the governemtn' side, making the bill would benefit low- income families students in order to make sure that any student in U.S could handle expensive tuition fees while saving enough billions money to government. Just in recent days, "The U.S. House voted 253 to 171 on Thursday to approve the legislation, which would get rid of a popular student loan program and in its place provide for direct government lending."( Michael Collins). if bill becomes true, many students will be benefited by the new changes.
Preference:
1.http://www.newyorker.com/online/blogs/jamessurowiecki/2009/09/finally-some-real-action-on-student-loans.html
2.http://www.knoxnews.com/news/2009/sep/18/college-loan-program-on-the-ropes/
3.http://www.galesburg.com/news/news_state/x1358732460/Student-loan-default-rates-on-the-rise

Community College Students Also Struggle with Financial Aid

by Quang Nguyen




Most people would think that community college students have a much easier time than their peers when coming to financing for their education. However, the fact is that they struggle as much as any four years college students, if not more. Community college students made made up of 25% of all college students and they generally have less access to college fund than a full time students in a four year school. For those who applied for financial aid, 80% of them do not get it. Although the tuition is much lower than the average university, the costs for books, fees, and other expenses for these students are pretty close to the normal student. This resulting in these students have to borrow high interest loan from private funds and credit card debts to pay for their education.

According to the Institution for College Access and Success, 24% of full time undergraduate students spent their time at community college before attending university. The study also points out that even after receiving financial aid, 80% of community college students still need more aid in comparison to 54% of public four year schools and 53% of private four year schools. The most important fact that the Institute was able to find is that the amount of money that community college students face in financial gap is very close to those in public four year schools, which is $5,277 for community and $5,286 for public. The Institute suggests that community college students do not have enough information to access to financial aid since the number of students who applied to funds they are qualified is much lower than those in four year schools.

Overall, community college students should have as much opportunity as any other college students for their education. We usually think of community college students as working while take a couple of easy classes when comparing to four year schools students. However, most community college students are full time students who spend as much time studying as any other four year students. The issue would be solved if there are more resources at community colleges showing their students how to get access to funds.

References:
http://blogs.wsj.com/wallet/2009/06/01/getting-help-paying-for-community-college/
http://www.citytowninfo.com/career-and-education-news/articles/study-says-community-college-students-need-more-financial-aid-09051403
http://ticas.org/files/pub/cc_fact_sheet.pdf

Government Attempts to Handle High Tuition Costs

By Jameel Murray

Along with the woes and blunders of the sluggish economy, Americans are also forced to worry themselves of the uncontrollable rise in college tuition. According to the biennial report from the National Center for Public Policy, the drastic increases in higher education may be out of reach for most Americans. While increases in family income are somewhat persistent, college tuition has increased 147 percent from 1982 to 2007. According to Patrick M. Callahan, the president of the center, the education gap between the American workforce and the rest of the world will make it difficult to be competitive.
Even though college tuition will consistently increase, the government has acknowledged the situation, implementing many plans in hope of providing higher education for all students. The stimulus bill, which was passed by President Obama, has set aside $90 billion for higher education initiatives. Because the money would allow more students to receive a college education, the Obama administration believes that this money would eventually enhance the American economy. Vice President Joe Biden also conducted a town hall meeting at Syracuse University to discuss the progress being made toward handling the increases in college education. According to Biden, the administration has simplified the federal loan process and is also pushing to increase grants and loans paid for by reduced subsidies to private lenders. Government officials are immediately making an attempt to grapple with the outrageous costs of college tuition. We have already seen some states like Michigan offering free college tuition to students.

References: http://www.aralifestyle.com/article.aspx?UserFeedGuid=790f937a-c021-4f40-b71d-51b495ef27d1&ArticleId=2103&ComboId=4225&title=Obama-s-stimulus-bill-pays-for-education

http://www.detnews.com/article/20090915/POLITICS02/909150354/State-plan-urges-free-college-tuition

http://thegovmonitor.com/world_news/united_states/saving-and-paying-for-college-needs-to-be-fair-simple-and-more-efficient-4426.html

College ate my life savings!

By Jonathan Tse




Everyone knows that the price of attending college is continuing to skyrocket as the years go by. Why is this monster called college continually growing in appetite, and charging such high tuition rates? Tuition rates have increased 10-fold since 1977, and have been increasing by around 4-6% every year. This year, tuition rates have increased by a 37-year low of 4.3%, which is just a little bit higher than the current inflation rate. The problem is that a third of students do not get scholarships, grants, or financial aid and have no choice but to pay the full tuition price. What is the reason for this outrageous inflation of college tuition?

Everyone seems to think that the correlation between a high ranking college and price is linear. This type of thinking has created a trend in colleges and universities in which all schools want to look like mansions. Colleges are spending more and more money to improve their appearance and facilities so that they can attract more students to their school. This works because people think that since a school looks great and costs a lot of money, it must be a great school and worth the cost. This increase in prices would be more acceptable if schools were using the money to improve the value of the education that they provide, but this is not the case. Also, colleges are unwilling to cut their spending. They continually add departments and professors, but due to political and other issues, they are not willing to cut any of the more expensive and small departments. Also, it seems that there is a problem with the productivity of the professors. They are more interested in research than their classes and are not willing to take on more classes and do a little less research. Also, many professors are found to not change their teaching styles and teach courses in the same manner, over and over again.

There is clearly many things going wrong with the rise of college tuition prices, but luckily some seem to sense this. Some colleges and universities like Harvard and University of California-Berkeley have created rules in which people under certain income levels do not have to pay tuition or pay a discounted fee. The richer schools have slowly begun to cut costs and offer incentives but for now this is still not enough to stop this upward trend.



http://www.usnews.com/education/paying-for-college/articles/2007/10/23/college-tuition-prices-continue-to-rise.html
http://money.cnn.com/2008/08/20/pf/college/college_price.moneymag/
http://www.nytimes.com/2009/09/05/your-money/paying-for-college/05money.html

Uncle Sam’s educational initiatives

By Alma Zhumagulova




As the country is slowly coming out of the recession, the US government is coming up with a range of various initiatives to facilitate the future economy by helping the US teenagers get one of the most valuable assets – higher education. President Barack Obama, Vice President Biden and the Secretary of Education Arne Duncan are all actively seeking for the solutions to the problems in the US education system. Many students are dropping out of school because of the rapidly increasing tuition costs especially in these times of severe recession, when their parents are being laid off, house prices plummeted and future employment prospects seem to be very dim. According to columbiaspectator.com “the U.S. has fallen to sixth in the world in number of people attending college." However, the ultimate plan is for the US to “produce” the highest number of university graduates in the world by the 2020. This will result in the larger share of American population being at least in the middle class and, thus, to a much more competitive economy. With the new Income Based Repayment plan that came into force in July many American students will have a chance to graduate from a respectable college and have large percentage of their federal student loans to be waived (usnews.com). Furthermore, Arne Duncan along with two members of Congress is proposing the Student Aid and Fiscal Responsibility Act of 2009 to Congress this week. Together the administration and the Department of Education are working on making the federal loan application process easier, advancing 529 college savings plans, progressing Federal Direct Loan Program to all US universities and colleges, investing into community colleges (Obama’s American Graduation Initiative) and many other educational initiatives (columbiaspectator.com). Providing the US population with more options to get quality higher education is currently one of the primary goals of the government, and community colleges can help reach the 2020 target. Many community college graduates state that choosing community colleges over 4-year colleges was the much cheaper education alternative was one of the best decisions they have made (usnews.com). For many of them community colleges became doors to four-year colleges, by providing access to partial and full scholarships and financial aid as well as quality education at an affordable cost.

References:

1. http://thegovmonitor.com/world_news/united_states/saving-and-paying-for-college-needs-to-be-fair-simple-and-more-efficient-4426.html
2. http://www.columbiaspectator.com/2009/09/15/new-act-proposed-house-help-send-more-kids-college
3. http://www.usnews.com/blogs/college-cash-101/2009/07/01/pay-off-your-student-loan-with-help-from-uncle-sam.html
4. http://www.usnews.com/blogs/letters-to-the-editor/2009/09/14/dont-count-out-community-college.html
5. http://www.bnd.com/business/story/914234.html

The New Card On Campus: Prepaid Debit

Posted by Quang Nguyen




Many colleges have tightened rules on credit-card marketing on campus in order to discourage students from racking up huge amounts of debt. Now another kind of card is being pushed on campus -- with its own set of issues.

This fall, financial-services companies are focusing more of their campus marketing on "prepaid debit cards," which work like standard debit cards except that they aren't linked to a traditional checking account. Among the issuers aggressively marketing their cards this year: U.S. Bancorp and Wal-Mart Stores Inc.

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Obama Proposes College Finance Overhaul

by David K. Randall
posted by Jameel Murray

The Obama administration released two proposals on Wednesday that may change how middle-class families pay for college. The goal of the suggested changes is to expand the use of state and federal programs by low- and middle-income earners by making them easier to use. The proposals would affect 529 college savings plans and the federal application required for almost all financial aid.

Currently, only 5% of families defined as middle class are enrolled in 529 plans, according to the Treasury Department. The majority of 529 savers have incomes in the 90th percentile or higher.

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4 Ways to Get College Textbooks Free

And several other ways you can save money before you start studying
By Kim Clark; September 2, 2009

Posted by Alma Zhumagulova

As students return to college campuses, one of the biggest price shocks they face will be at the bookstore. Dozens of science, engineering, and business textbooks now list for more than $300 apiece. Students, professors, college officials, and entrepreneurs are fighting back against these rising textbook prices and are developing new ways to distribute textbooks free of charge without requiring students to violate copyright laws or download big files illegally from BitTorrent sites.

Even students whose professors continue to assign the big, expensive, traditional textbooks can still cut out several hundred dollars from the typical $700-to-$1,000-a-year bookstore bill by using new textbook rental services, reading books online, or just following tried-and-true techniques such as borrowing textbooks from libraries.

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Is college still worth the price?

Posted by Jonathan Tse
By Penelope Wang, Money Magazine senior writer
Last Updated: April 13, 2009: 12:36 PM ET

Costs are soaring twice as fast as inflation, even as salaries for graduates are falling. Time to examine the old belief that college is worth whatever you can pay.



(Money Magazine) -- In May, more than 20,000 spectators gathered under blue skies at Wesleyan University in Middletown, Conn. to hear Democratic presidential candidate Barack Obama deliver the commencement address.

After recalling his days as a low-paid community organizer, Obama urged the graduates to consider careers in public service. "I ask you to seek these opportunities when you leave here," Obama declared. "The future of this country - your future - depends on it." His message was received with enthusiastic applause.

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Trying to Save for the Kids' College? It's a Bear

posted by Shawn Gao

If the bear market has kept you from setting money aside for your child's college education, you're not alone.

Because of the economic crisis, 47% of parents are saving less or aren't saving at all for their kids' education, according to a Gallup survey released in May by student-loan provider Sallie Mae.

While not saving for that degree may have felt like a smart move while the stock market was crashing, the need to fund your kid's college account has only grown. For the 2008-2009 school year, the average cost of attending a four-year public school for in-state residents -- including tuition and room and board -- rose 5.7% to $14,333, according to the College Board. The cost was up 5.6% to $34,132 for a private university. (These numbers aren't adjusted for inflation.)
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Say Yes to Education initiative

By Quang Nguyen




This past week, SU alumnus and U.S. Vice President went to Syracuse for a meeting on the Say Yes to Education initiative. The program is the White House’s effort to reform the current education system. The program hopes to increase the graduation rates of students both in high schools and colleges. According to Biden, it is important for parents and teachers to expect more from kids. Along with Vice President Biden, the Secretary of Education Arne Duncan estimates that the drop out rate every year is as high as 30 percent.

The first step of the Say Yes to Education initiative has been implementing in Syracuse. Many different organizations has donated money in order to improve the current education system. For instant, the Community Foundation donated as much as $1,000,000 to support the Say Yes to Education within the Syracuse Demonstration Program. In addition, the contributions to the Say Yes to Education Fund announced that it would match the amount of donation that the Community Foundation pledged.

Secretary of Education Duncan said that this program is the collaboration between the government, the school district, and middle class family that would only bring benefits. He really believes that Syracuse would be the lesson for the rest of the U.S. to look at and improve their graduation rates. Furthermore, the program is proved successful and has been implemented in other areas of the country such as Harlem, Massachusetts, and Connecticut.

References:

http://media.www.dailyorange.com/media/storage/paper522/news/2009/09/10/News/Biden.Ties.Education.Reform.To.Say.Yes.Initiative-3767735.shtml

http://www.cnycf.org/cnycf/SayYestoEducation/tabid/161/Default.aspx

http://news10now.com/content/top_stories/481961/say-yes-to-education/?RegionCookie=1013&ap=1&MP4