How to Minimize Debt From Student Loans
Let’s face facts: If you’re entering college today, you’re probably going to have to take some student loans. According to FinAid.org, a website that tracks student lending, more than two-thirds of bachelor’s degree holders left school with some debt in 2007-08 (the most recent year the National Postsecondary Student Aid Study was conducted). But is there anything you can do to minimize the debt you’ll have when you graduate?
Definitely! Here are five tips on reducing your student loan burden:
1) Start saving for college early. This is for parents more than students, because we’re talking really
Minimize Debt From Student Loans early – like right-when-the-kids-are-born early. A 529 plan – which helps families set aside money specifically for future college costs – is a great way to do this, but even a regular savings account can be a big help.
Parents, put money given to your kids as gifts into such a plan, and add to it yourself when possible. Students, when you start earning money with a part-time job, make sure some of it goes toward saving for college as well. Starting college with a nice chunk of money to cover tuition, housing, books and other expenses allows you to focus on what’s really important: getting good grades and completing your degree.
2) Avoid scams. Unfortunately, there are a lot of underhanded – and often illegal – financial aid scams out there. The old adage is important: If it sounds too good to be true, it probably is.
Fraudulent financial aid offers are typically designed to take your money or your personal information (or both) and give you nothing in return. As a general rule, if you’re asked to pay money to apply for a grant or scholarship, it’s a scam. They’re supposed to be giving you money, not the other way around.
3) Get as much free money as possible. The best kind of financial aid is the kind you don’t have to pay back. College scholarships and Pell Grants are the most common forms of free assistance.
Merit-based scholarships are awarded for exceptional performance – high grades, notable athleticism, engaging in extracurricular activities, winning academic competitions and other important achievements. Some are given out based on other criteria, such as taking an unusual major or belonging to an underrepresented minority group. Any scholarships you have a chance of winning are worth applying for; every dollar you get is a dollar you don’t have to pay back when you’re done with college.
Undergraduate students who have not earned a bachelor’s or professional degree are eligible for Pell Grants. The U.S. Department of Education has set the maximum award for the 2011-2012 academic year at $5,500. However, the amount you actually receive depends on your financial need, your cost to attend school, whether you are a full-time or part-time student, and several other factors. You must submit a Free Application for Federal Student Aid (FAFSA) to be considered for a Pell Grant.
4) Take low-interest federal loans first. Federal student loans (Stafford loans) are your go-to resource if you can’t cover your costs with grants and scholarships. They don’t require a credit check and generally offer much better terms than private loans.
Undergraduates can take subsidized Stafford loans at a low interest rate – currently set at 3.4%* – and the government pays that interest as long as you’re enrolled in school at least half-time. This means that you’ll owe the amount you borrowed when you graduate and nothing more. And when interest does start accruing it won’t be very much. Unsubsidized Stafford loans also have a relatively low interest rate (currently 6.8%*), but it does start accruing immediately after you take the loan.
Finally, parents who want to help a dependent child pay for school can look into getting a federal PLUS loan.
5) Only take private loans as a last resort. All private lenders are different, but they generally do not offer the favorable terms that federal student loans do. They almost always require a credit check and tend to have higher interest rates. Private lenders may also require you to start paying interest while you’re still in school, which can be a big hardship for a serious student.
If you do have to take a private loan, do a lot of comparison shopping. At certain times, some lenders will offer to waive the origination fee or lower interest rates to attract borrowers. As with any loan you take, take the time to carefully examine the terms before you sign.
Paying for College: How to Minimize Debt From Student Loans
Thursday, November 3, 2011
Paying for College: How to Minimize Debt From Student Loans
How to Minimize Debt From Student Loans
Let’s face facts: If you’re entering college today, you’re probably going to have to take some student loans. According to FinAid.org, a website that tracks student lending, more than two-thirds of bachelor’s degree holders left school with some debt in 2007-08 (the most recent year the National Postsecondary Student Aid Study was conducted). But is there anything you can do to minimize the debt you’ll have when you graduate?
Definitely! Here are five tips on reducing your student loan burden:
1) Start saving for college early. This is for parents more than students, because we’re talking really
Minimize Debt From Student Loans early – like right-when-the-kids-are-born early. A 529 plan – which helps families set aside money specifically for future college costs – is a great way to do this, but even a regular savings account can be a big help.
Parents, put money given to your kids as gifts into such a plan, and add to it yourself when possible. Students, when you start earning money with a part-time job, make sure some of it goes toward saving for college as well. Starting college with a nice chunk of money to cover tuition, housing, books and other expenses allows you to focus on what’s really important: getting good grades and completing your degree.
2) Avoid scams. Unfortunately, there are a lot of underhanded – and often illegal – financial aid scams out there. The old adage is important: If it sounds too good to be true, it probably is.
Fraudulent financial aid offers are typically designed to take your money or your personal information (or both) and give you nothing in return. As a general rule, if you’re asked to pay money to apply for a grant or scholarship, it’s a scam. They’re supposed to be giving you money, not the other way around.
3) Get as much free money as possible. The best kind of financial aid is the kind you don’t have to pay back. College scholarships and Pell Grants are the most common forms of free assistance.
Merit-based scholarships are awarded for exceptional performance – high grades, notable athleticism, engaging in extracurricular activities, winning academic competitions and other important achievements. Some are given out based on other criteria, such as taking an unusual major or belonging to an underrepresented minority group. Any scholarships you have a chance of winning are worth applying for; every dollar you get is a dollar you don’t have to pay back when you’re done with college.
Undergraduate students who have not earned a bachelor’s or professional degree are eligible for Pell Grants. The U.S. Department of Education has set the maximum award for the 2011-2012 academic year at $5,500. However, the amount you actually receive depends on your financial need, your cost to attend school, whether you are a full-time or part-time student, and several other factors. You must submit a Free Application for Federal Student Aid (FAFSA) to be considered for a Pell Grant.
4) Take low-interest federal loans first. Federal student loans (Stafford loans) are your go-to resource if you can’t cover your costs with grants and scholarships. They don’t require a credit check and generally offer much better terms than private loans.
Undergraduates can take subsidized Stafford loans at a low interest rate – currently set at 3.4%* – and the government pays that interest as long as you’re enrolled in school at least half-time. This means that you’ll owe the amount you borrowed when you graduate and nothing more. And when interest does start accruing it won’t be very much. Unsubsidized Stafford loans also have a relatively low interest rate (currently 6.8%*), but it does start accruing immediately after you take the loan.
Finally, parents who want to help a dependent child pay for school can look into getting a federal PLUS loan.
5) Only take private loans as a last resort. All private lenders are different, but they generally do not offer the favorable terms that federal student loans do. They almost always require a credit check and tend to have higher interest rates. Private lenders may also require you to start paying interest while you’re still in school, which can be a big hardship for a serious student.
If you do have to take a private loan, do a lot of comparison shopping. At certain times, some lenders will offer to waive the origination fee or lower interest rates to attract borrowers. As with any loan you take, take the time to carefully examine the terms before you sign.
Paying for College: How to Minimize Debt From Student Loans
Let’s face facts: If you’re entering college today, you’re probably going to have to take some student loans. According to FinAid.org, a website that tracks student lending, more than two-thirds of bachelor’s degree holders left school with some debt in 2007-08 (the most recent year the National Postsecondary Student Aid Study was conducted). But is there anything you can do to minimize the debt you’ll have when you graduate?
Definitely! Here are five tips on reducing your student loan burden:
1) Start saving for college early. This is for parents more than students, because we’re talking really
Minimize Debt From Student Loans early – like right-when-the-kids-are-born early. A 529 plan – which helps families set aside money specifically for future college costs – is a great way to do this, but even a regular savings account can be a big help.
Parents, put money given to your kids as gifts into such a plan, and add to it yourself when possible. Students, when you start earning money with a part-time job, make sure some of it goes toward saving for college as well. Starting college with a nice chunk of money to cover tuition, housing, books and other expenses allows you to focus on what’s really important: getting good grades and completing your degree.
2) Avoid scams. Unfortunately, there are a lot of underhanded – and often illegal – financial aid scams out there. The old adage is important: If it sounds too good to be true, it probably is.
Fraudulent financial aid offers are typically designed to take your money or your personal information (or both) and give you nothing in return. As a general rule, if you’re asked to pay money to apply for a grant or scholarship, it’s a scam. They’re supposed to be giving you money, not the other way around.
3) Get as much free money as possible. The best kind of financial aid is the kind you don’t have to pay back. College scholarships and Pell Grants are the most common forms of free assistance.
Merit-based scholarships are awarded for exceptional performance – high grades, notable athleticism, engaging in extracurricular activities, winning academic competitions and other important achievements. Some are given out based on other criteria, such as taking an unusual major or belonging to an underrepresented minority group. Any scholarships you have a chance of winning are worth applying for; every dollar you get is a dollar you don’t have to pay back when you’re done with college.
Undergraduate students who have not earned a bachelor’s or professional degree are eligible for Pell Grants. The U.S. Department of Education has set the maximum award for the 2011-2012 academic year at $5,500. However, the amount you actually receive depends on your financial need, your cost to attend school, whether you are a full-time or part-time student, and several other factors. You must submit a Free Application for Federal Student Aid (FAFSA) to be considered for a Pell Grant.
4) Take low-interest federal loans first. Federal student loans (Stafford loans) are your go-to resource if you can’t cover your costs with grants and scholarships. They don’t require a credit check and generally offer much better terms than private loans.
Undergraduates can take subsidized Stafford loans at a low interest rate – currently set at 3.4%* – and the government pays that interest as long as you’re enrolled in school at least half-time. This means that you’ll owe the amount you borrowed when you graduate and nothing more. And when interest does start accruing it won’t be very much. Unsubsidized Stafford loans also have a relatively low interest rate (currently 6.8%*), but it does start accruing immediately after you take the loan.
Finally, parents who want to help a dependent child pay for school can look into getting a federal PLUS loan.
5) Only take private loans as a last resort. All private lenders are different, but they generally do not offer the favorable terms that federal student loans do. They almost always require a credit check and tend to have higher interest rates. Private lenders may also require you to start paying interest while you’re still in school, which can be a big hardship for a serious student.
If you do have to take a private loan, do a lot of comparison shopping. At certain times, some lenders will offer to waive the origination fee or lower interest rates to attract borrowers. As with any loan you take, take the time to carefully examine the terms before you sign.
Paying for College: How to Minimize Debt From Student Loans
Ohio college debt climbing | WTAM - Local News
Ohio college debt climbing | WTAM - Local News: Students spending more for sheepskin.
Wednesday, August 24, 2011
THE HIGH PRICE OF LOW GRADUATION RATES
Poor College Completion Rate Costs the U.S. Billions
The U.S. and state governments lose out on billions in tax revenue because four in 10 college students are unlikely to earn their degree within six years, according to a new report by the American Institute for Research (AIR).
The AIR study, The High Cost of Low Graduation Rates: How Much Does Dropping Out of College Really Cost?, finds that of the 1.1 million full-time students who entered a four-year college in 2002 seeking bachelor degrees, almost 500,000 did not graduate within six years. AIR estimates that in 2010 these students cost the U.S. $3.8 billion in lost income that would have resulted in $566 million more in federal income taxes and $164 million more in lost state income taxes. In all, the 40 percent of freshmen in 2002 who failed to earn their degree costs the country $4.5 billion in 2010, according to the report.
"These findings represent just one year and one graduating class. Therefore, the overall costs of low graduation rates are much higher since these losses accumulate year after year," explained Mark Schneider, a vice president at AIR who co-authored the report with AIR researcher Lu (Michelle) Yin.
In addition to increasing revenues, the Obama administration could make significant strides toward its goal to have the highest concentration of college and university degrees in the world by increasing college completion rates for students who access higher education.
The inability to complete their program also has a negative impact on the individual students.
"Students who start college and don't graduate incur large personal expenses," Schneider said. "They have paid tuition, they have taken out loans, they have changed their lives and they have failed in one of the biggest goals they have ever set for themselves."
In the state-by-state analysis, AIR calculated that 14 states saw income losses from this single group of dropouts exceeding $100 million annually. Those include California, with $386 million in lost income, and New York with close to $360 million, to Louisiana, Massachusetts, North Carolina and New Jersey, all losing between $100 and $107 million in earnings. Losses in federal income tax saw were also substantial.
The report also highlights some of the financial implications for students who complete college compared to those who do not. Young adults between the ages of 25 and 34 with a college degree, working year round, earn around 40 percent more than someone with some college who has not completed a degree and around two-thirds more than someone with just a high school degree, according to the U.S. Bureau of the Census. A college graduate can earn about a half million dollars more over a lifetime than a person without a degree.
"Given these higher earnings, many governors are looking at a more educated population as a way of dealing with the growing fiscal crisis they face," said Schneider. "Most states have state income taxes and they benefit directly from the higher incomes earned by college graduates."
"Low college graduation rates are costly for students, for their families, and for taxpayers in each state and the nation as a whole," the report concludes.
Publication Date: 8/23/2011
The U.S. and state governments lose out on billions in tax revenue because four in 10 college students are unlikely to earn their degree within six years, according to a new report by the American Institute for Research (AIR).
The AIR study, The High Cost of Low Graduation Rates: How Much Does Dropping Out of College Really Cost?, finds that of the 1.1 million full-time students who entered a four-year college in 2002 seeking bachelor degrees, almost 500,000 did not graduate within six years. AIR estimates that in 2010 these students cost the U.S. $3.8 billion in lost income that would have resulted in $566 million more in federal income taxes and $164 million more in lost state income taxes. In all, the 40 percent of freshmen in 2002 who failed to earn their degree costs the country $4.5 billion in 2010, according to the report.
"These findings represent just one year and one graduating class. Therefore, the overall costs of low graduation rates are much higher since these losses accumulate year after year," explained Mark Schneider, a vice president at AIR who co-authored the report with AIR researcher Lu (Michelle) Yin.
In addition to increasing revenues, the Obama administration could make significant strides toward its goal to have the highest concentration of college and university degrees in the world by increasing college completion rates for students who access higher education.
The inability to complete their program also has a negative impact on the individual students.
"Students who start college and don't graduate incur large personal expenses," Schneider said. "They have paid tuition, they have taken out loans, they have changed their lives and they have failed in one of the biggest goals they have ever set for themselves."
In the state-by-state analysis, AIR calculated that 14 states saw income losses from this single group of dropouts exceeding $100 million annually. Those include California, with $386 million in lost income, and New York with close to $360 million, to Louisiana, Massachusetts, North Carolina and New Jersey, all losing between $100 and $107 million in earnings. Losses in federal income tax saw were also substantial.
The report also highlights some of the financial implications for students who complete college compared to those who do not. Young adults between the ages of 25 and 34 with a college degree, working year round, earn around 40 percent more than someone with some college who has not completed a degree and around two-thirds more than someone with just a high school degree, according to the U.S. Bureau of the Census. A college graduate can earn about a half million dollars more over a lifetime than a person without a degree.
"Given these higher earnings, many governors are looking at a more educated population as a way of dealing with the growing fiscal crisis they face," said Schneider. "Most states have state income taxes and they benefit directly from the higher incomes earned by college graduates."
"Low college graduation rates are costly for students, for their families, and for taxpayers in each state and the nation as a whole," the report concludes.
Publication Date: 8/23/2011
Monday, August 22, 2011
3 myths continued
(Continued ...).
Until now, families had to do a fair amount of digging to try to figure out what they might actually pay. They had to gather the "sticker price" cost of various schools, get an idea of their "expected family contribution" from calculators such as the one at Kantrowitz's FinAid.org, and then try to get some idea if their student was likely to get merit aid that might reduce the total cost.
Too many don't do this research, with potentially disastrous results.
"It's reckless to apply blindly and hope in the spring you'll get good news," O'Shaughnessy said. "What if you don't and you've missed the deadline for other schools?"
Where to get money for college
Fortunately, starting in October, all colleges that offer financial aid are supposed to post "net price calculators" on their websites, O'Shaughnessy said. These calculators will allow people to input various factors, including income, assets, the student's grades and test scores, to get an estimate of the net cost of the education there.
The calculators aren't perfect. Some don't include merit aid, which schools can use to significantly reduce costs for students they're trying to attract. So families will still need to do some research.
Fox recommended that families use the federal Education Department's College Navigator to figure out which schools are most likely to want their kids. Under the "admissions" tab for each school, you'll find SAT scores for the 25th and 75th percentile of students attending there. If your student's SAT scores match or exceed the 75th percentile number, "that significantly improves the chances they will offer a better financial-aid package," Fox said.
Schools may also try to recruit students for particular majors or who have particular skills (the band may need a trombone player, for example). Ferreting out that information may require a call to the admissions office. Fox attends college fairs, which are often held in large-city convention centers, to talk to admissions officials about what types of students their schools are trying to recruit.
A well-connected high school guidance counselor can be another source of leads, although you're more likely to find those in a private high school than in many public schools, where guidance counseling is frequently subject to budget cuts.
Myth No. 3: "A public school will be cheaper than a private college."
Reality: You could end up paying less for a private-school education.
"Many private colleges will offer a need-based financial-aid package or a merit-based package that brings the net price either close to or even below the cost of a public school," Fox said. "At public colleges, the financial-aid packages are much more loan-heavy, with a lower percentage of grants and scholarships."
You also need to factor in how much time it will take to graduate. Far fewer students manage to graduate from public schools in four years (29.9%), compared with private schools (51%). If you wind up paying for an additional year or two, that could dramatically increase the overall cost of a public-school education.
Those statistics are for people who started college in 2002, the latest available data from the U.S. Department of Education's National Center for Education Statistics. Since then, the situation at many public schools has gotten worse as strapped state governments have slashed education budgets.
"Students can't get the classes they need, or they're not being offered every semester," Fox said. "Parents should factor in the cost of at least an extra year when they're comparing public schools to private."
Of course, their child may be the exception, Fox said. A kid who knows what he wants to do, who is proactive enough to plan out the courses he needs, and who's first in line at registration has a shot at getting through a public college in four years.
Other kids may flail around, sometimes for years, trying to decide what they want to do. Again, private schools may have the advantage here, since they offer more guidance -- "handholding," Fox called it -- to help students settle on their majors.
•Connect with Liz Weston on Facebook
A commonly recommended strategy is for students to attend a cheaper two-year college first and then transfer to a four-year college. This can work well for motivated students. Less motivated students, though, might attend only part time and never complete a degree at all. Without a degree, all the money paid for education is essentially cash down the drain.
Community college "can be like a sand trap," O'Shaughnessy warned. "You may not get out of it."
Liz Weston is the Web's most-read personal-finance writer. She is the author of several books, most recently "The 10 Commandments of Money: Survive and Thrive in the New Economy." Weston's award-winning columns appear every Monday and Thursday, exclusively on MSN Money. Click here to find Weston's most recent articles and blog posts.
3 college myths that will cost you
Certain misconceptions about financial aid and the price of higher education are all too frequent. The facts show why they're not to be taken seriously.
Myth No. 1: "Saving for college will hurt my child's chances of getting financial aid."
Reality: If you can save for college, you should.
The federal student-aid formula is much more heavily weighted toward income than assets. Translated: What you manage to save doesn't count against you as much as you might think, particularly if you save it in the right ways.
If you a have a decent income and don't save, however, you could be in a world of hurt. That's because the formula assumes you have been saving money all along, even if you haven't.
Since a lot of financial aid these days consists of loans, rather than scholarships or grants, your savings essentially reduce your (or your child's) future debt.
.
"Despite the slight reduction in aid eligibility, families who save for college are in a much better position than families who do not," said financial-aid expert Mark Kantrowitz, the publisher of Fastweb.com and FinAid.org, and the author of "Secrets to Winning a Scholarship." "Saving for college provides you with more flexibility in your choice of college. Also, every dollar you save is about a dollar less you will have to borrow, helping you to avoid borrowing too much."
And you'll wind up paying less overall if you save rather than borrow. Kantrowitz offered the example of a parent who saves $200 a month for 10 years in an account that earns 6.8% on average. She would accumulate $34,400. Borrowing the same amount at 6.8% (the current fixed rate for federal Stafford student loans), "you'd have to pay $396 a month for 10 years, almost twice as much," he noted.
"The difference is that when you save, you earn the interest, while when you borrow, you pay the interest," Kantrowitz said.
Of course, it matters where you save. Generally speaking, you don't want to save in the child's name -- and beware of advice that tells you to hide money in a grandparent's name. Here is Kantrowitz's advice:
•Saving in a custodial account generally isn't a good idea if you hope to get any financial aid. Savings in UTMA or UGMA accounts, for example, reduce your child's aid eligibility by 20% of the accounts' value.
•If you save in the parents' names, by contrast, the impact is minimal. "Less than 4% of dependent students have any impact on aid eligibility from parent assets, because most parent assets are sheltered," Kantrowitz explained. "Even if the money counts against you, the worst-case impact is a reduction in aid eligibility by at most 5.64% of the asset value. That means every $10,000 in parent assets reduces aid eligibility by at most $564. That still leaves you with $9,436 to spend on your child's education."
•Money in a 529 college savings plan, regardless of whether the student or the parent is the account owner, is treated as though it were a parent asset on the Free Application for Federal Student Aid, or FAFSA. That's good.
•But don't put the 529 plan in a grandparent's name, Kantrowitz said. That may initially keep it off the radar screen for financial-aid calculations, but as soon as any money is withdrawn, you'll pay the price. "Although such a plan is not reported as an asset on the FAFSA, since it is owned by neither the student nor the parent, any distributions from the plan count as untaxed income to the beneficiary," Kantrowitz said. That's very bad. Withdrawals from a grandparent-owned 529 can reduce a child's eligibility for aid by as much as 50% of the amount withdrawn.
Myth No. 2: "College costs too much."
Reality: A college education's cost may be a lot less than you think -- and prices are about to become much more transparent.
"The price tag of any college is meaningless," said Lynn O'Shaughnessy, who blogs at The College Solution and is the author of the book "Shrinking the Cost of College." "It's like airline tickets -- everybody pays a different cost."
Some students, particularly those whose parents haven't gone to college, might not realize that or understand how to navigate the financial-aid process, said Deborah Fox, the founder of Fox College Funding, a college planning company.
"The students that would qualify for the most financial aid often don't know they can get it," she said.
The big danger is that some young adults won't go to college -- trapping themselves into lower earnings and higher unemployment risks for life, when for relatively small investments they could significantly improve their financial futures.
Myth No. 1: "Saving for college will hurt my child's chances of getting financial aid."
Reality: If you can save for college, you should.
The federal student-aid formula is much more heavily weighted toward income than assets. Translated: What you manage to save doesn't count against you as much as you might think, particularly if you save it in the right ways.
If you a have a decent income and don't save, however, you could be in a world of hurt. That's because the formula assumes you have been saving money all along, even if you haven't.
Since a lot of financial aid these days consists of loans, rather than scholarships or grants, your savings essentially reduce your (or your child's) future debt.
.
"Despite the slight reduction in aid eligibility, families who save for college are in a much better position than families who do not," said financial-aid expert Mark Kantrowitz, the publisher of Fastweb.com and FinAid.org, and the author of "Secrets to Winning a Scholarship." "Saving for college provides you with more flexibility in your choice of college. Also, every dollar you save is about a dollar less you will have to borrow, helping you to avoid borrowing too much."
And you'll wind up paying less overall if you save rather than borrow. Kantrowitz offered the example of a parent who saves $200 a month for 10 years in an account that earns 6.8% on average. She would accumulate $34,400. Borrowing the same amount at 6.8% (the current fixed rate for federal Stafford student loans), "you'd have to pay $396 a month for 10 years, almost twice as much," he noted.
"The difference is that when you save, you earn the interest, while when you borrow, you pay the interest," Kantrowitz said.
Of course, it matters where you save. Generally speaking, you don't want to save in the child's name -- and beware of advice that tells you to hide money in a grandparent's name. Here is Kantrowitz's advice:
•Saving in a custodial account generally isn't a good idea if you hope to get any financial aid. Savings in UTMA or UGMA accounts, for example, reduce your child's aid eligibility by 20% of the accounts' value.
•If you save in the parents' names, by contrast, the impact is minimal. "Less than 4% of dependent students have any impact on aid eligibility from parent assets, because most parent assets are sheltered," Kantrowitz explained. "Even if the money counts against you, the worst-case impact is a reduction in aid eligibility by at most 5.64% of the asset value. That means every $10,000 in parent assets reduces aid eligibility by at most $564. That still leaves you with $9,436 to spend on your child's education."
•Money in a 529 college savings plan, regardless of whether the student or the parent is the account owner, is treated as though it were a parent asset on the Free Application for Federal Student Aid, or FAFSA. That's good.
•But don't put the 529 plan in a grandparent's name, Kantrowitz said. That may initially keep it off the radar screen for financial-aid calculations, but as soon as any money is withdrawn, you'll pay the price. "Although such a plan is not reported as an asset on the FAFSA, since it is owned by neither the student nor the parent, any distributions from the plan count as untaxed income to the beneficiary," Kantrowitz said. That's very bad. Withdrawals from a grandparent-owned 529 can reduce a child's eligibility for aid by as much as 50% of the amount withdrawn.
Myth No. 2: "College costs too much."
Reality: A college education's cost may be a lot less than you think -- and prices are about to become much more transparent.
"The price tag of any college is meaningless," said Lynn O'Shaughnessy, who blogs at The College Solution and is the author of the book "Shrinking the Cost of College." "It's like airline tickets -- everybody pays a different cost."
Some students, particularly those whose parents haven't gone to college, might not realize that or understand how to navigate the financial-aid process, said Deborah Fox, the founder of Fox College Funding, a college planning company.
"The students that would qualify for the most financial aid often don't know they can get it," she said.
The big danger is that some young adults won't go to college -- trapping themselves into lower earnings and higher unemployment risks for life, when for relatively small investments they could significantly improve their financial futures.
Wednesday, August 3, 2011
Debt Ceiling Law Provides $17 Billion for Pell and Ends Grad Student Loan Interest Subsidy
After months of intense deficit reduction negotiations, both chambers of Congress passed and President Obama signed into law the Budget Control Act of 2011 just hours before the U.S. defaulted on its debt. The House passed the bill Monday with a 269-to-161 vote, and the Senate voted 74-26 Tuesday to pass the $2.4 trillion debt-ceiling bill. President Obama signed the bill shortly after the Senate vote. The package contains three main provisions related to student aid:
Additional mandatory funding for the Pell Grant program for fiscal years (FY) 2012 and 2013
Elimination of the in-school loan interest subsidy for graduate and professional students
Elimination of Direct Loan repayment incentives
The package represents a bipartisan compromise between congressional leaders, and will reduce the nation's debt through a two-stage process, while simultaneously raising the debt limit so that the U.S. does not default on its current obligations.
Stage One: Nearly $1 Trillion in Deficit Reduction; $900 Billion Debt Ceiling Increase
The first stage of the plan includes approximately $1 trillion in deficit reduction through the establishment of ten-year spending caps. In addition, the plan gives the President the authority to immediately raise the debt ceiling by $400 billion, which the Treasury Department estimates will last through September 2011. Another $500 billion debt limit increase would be subject to resolutions of disapproval votes in both the House and Senate. The disapproval measure would be subject to Presidential Veto. A vote of disapproval would still permit the president to raise the debt limit but also allow members of Congress to go on record as disapproving the measure.
Stage Two: Joint Committee Tasked With Legislating $1.5 Trillion in Deficit Reduction, Paired With Additional Debt Ceiling Increase
A joint, bipartisan committee, made up of 12 members (6 from both the House and the Senate, equally divided between Democrats and Republicans) will be tasked with developing legislation to achieve at least $1.5 trillion in future deficit reduction by Thanksgiving. The committee's legislation, which can include entitlements and revenues, must be voted upon by December 23 .
If the Committee's recommendations achieve at least $1.5 trillion in savings and are enacted by Congress, the debt ceiling will be raised by $1.5 trillion. If the committee's bill is enacted and produces between $1.2 trillion and $1.5 trillion, the debt limit will be raised dollar-for-dollar. Regardless of the amount of the debt limit increase, it would be subject to a disapproval vote which would, in turn, be subject to a Presidential Veto.
The bill puts enforcement measures in place if the committee fails to produce a bill or Congress fails to enact it, or if it produces less than $1.2 trillion in deficit reduction.
1.The debt limit will increase by $1.2 trillion, subject to a disapproval vote which would, in turn, be subject to a Presidential Veto.
2.Second, there would be across-the-board spending cuts to make up the differential between the deficit reduction achieved by the joint committee and $1.2 trillion, with 50% coming from defense spending, and the remaining 50% coming from non-defense spending, which would include education spending. The spending cuts would apply to FYs 2013-2021, and apply to both discretionary and mandatory spending programs. Only a handful of program - including the Pell Grant program - would be exempt from these cuts.
As part of the compromise, both the House and Senate agree to vote on a balanced budget constitutional amendment before the end of the year. The plan does not tie future debt limit increases on the outcome of that vote.
Impact on Student Aid Funding
Pell Grants: While many programs faced cuts in this bill, the Pell Grant program was provided with additional mandatory funding for both FY 2012 and 2013. Specifically, the package provides an additional $10 billion in mandatory funds for Pell in FY 2012 and $7 billion for FY 2013, amounts that should come close to preserving a $5,550 maximum award. When the President released his budget in February, Pell faced a projected $20 billion shortfall for FY 2012. The elimination of the Year-Round Pell Grant in the final FY 2011 budget bill reduced this shortfall to $11 billion. Even with the additional mandatory funding provided in the debt reduction package, Pell will still face a $1.3 billion dollar shortfall for FY 2012.
Interest Subsidy for Graduate Students: The Budget Control Act also eliminates the in-school interest subsidy for graduate and professional students beginning July 1, 2012, a provision that would save $18.1 billion from FY 2012-21, $8.2 billion of which is from FY 2012-16, according to the Congressional Budget Office (CBO). The legislative language clarifies that the subsidy elimination does not apply to students taking preparatory coursework and those in programs leading to teacher certification where the credential is awarded by the state instead of the institution.
Direct Loan Repayment Incentives: Repayment incentives were also eliminated in the final package. The incentive for using automatic debit repayment provided borrowers with a 0.25 interest rate reduction and the up-front interest rebate incentive was equal to 0.5 percent of the loan amount and applied toward the 1 percent loan origination fee. For PLUS loans, the up-front interest rebate was 1.5 percent applied toward the 4 percent origination fee. Borrowers were able to keep the rebate if they made their first 12 payments on time. The language prohibits the Department of Education from authorizing or providing repayment incentives on new loans disbursed on or after July 1, 2012, except that an interest rate reduction may be provided to a borrower who agrees to automatically debited electronic payments. The CBO projects the elimination of the origination fee rebates would yield $3.6 billion from FY 2012-21.
Together, the elimination of the graduate and professional in-school interest subsidy and direct loan repayment incentives yield a savings of $21.6 billion. In total, $17 billion of that is being redirected into the Pell Grant program, with the remaining $4.6 going toward deficit reduction.
Contextually speaking, with the exception of the graduate student interest subsidies, student aid funding was largely shielded from cuts during this process. However, funding for student aid could be targeted for cuts once again during the second phase of this process when the joint congressional committee must come up with an additional $1.5 trillion in savings.
Media Coverage
Debt Ceiling Deal To Add Thousands To Grad Student Loan Bills - The Huffington Post
Students, Seniors May Feel Impact of Debt Deal - USA Today
Debt Deal May Offer Only Temporary Reprieve for Student-Aid Programs - Chronicle of Higher Education
Short-Term Stability, But ... - Inside Higher Ed
Obama, Congressional Leaders Reach Debt Deal - Roll Call
Students to Feel Pinch in Debt Deal - CNN
Debt Deal Cuts Graduate Loans to Boost Pell Grants - USA Today
Debt Deal Boosts Pell Grant Funding, Cuts Student Loans - The Huffington Post
Publication Date: 8/3/2011
Additional mandatory funding for the Pell Grant program for fiscal years (FY) 2012 and 2013
Elimination of the in-school loan interest subsidy for graduate and professional students
Elimination of Direct Loan repayment incentives
The package represents a bipartisan compromise between congressional leaders, and will reduce the nation's debt through a two-stage process, while simultaneously raising the debt limit so that the U.S. does not default on its current obligations.
Stage One: Nearly $1 Trillion in Deficit Reduction; $900 Billion Debt Ceiling Increase
The first stage of the plan includes approximately $1 trillion in deficit reduction through the establishment of ten-year spending caps. In addition, the plan gives the President the authority to immediately raise the debt ceiling by $400 billion, which the Treasury Department estimates will last through September 2011. Another $500 billion debt limit increase would be subject to resolutions of disapproval votes in both the House and Senate. The disapproval measure would be subject to Presidential Veto. A vote of disapproval would still permit the president to raise the debt limit but also allow members of Congress to go on record as disapproving the measure.
Stage Two: Joint Committee Tasked With Legislating $1.5 Trillion in Deficit Reduction, Paired With Additional Debt Ceiling Increase
A joint, bipartisan committee, made up of 12 members (6 from both the House and the Senate, equally divided between Democrats and Republicans) will be tasked with developing legislation to achieve at least $1.5 trillion in future deficit reduction by Thanksgiving. The committee's legislation, which can include entitlements and revenues, must be voted upon by December 23 .
If the Committee's recommendations achieve at least $1.5 trillion in savings and are enacted by Congress, the debt ceiling will be raised by $1.5 trillion. If the committee's bill is enacted and produces between $1.2 trillion and $1.5 trillion, the debt limit will be raised dollar-for-dollar. Regardless of the amount of the debt limit increase, it would be subject to a disapproval vote which would, in turn, be subject to a Presidential Veto.
The bill puts enforcement measures in place if the committee fails to produce a bill or Congress fails to enact it, or if it produces less than $1.2 trillion in deficit reduction.
1.The debt limit will increase by $1.2 trillion, subject to a disapproval vote which would, in turn, be subject to a Presidential Veto.
2.Second, there would be across-the-board spending cuts to make up the differential between the deficit reduction achieved by the joint committee and $1.2 trillion, with 50% coming from defense spending, and the remaining 50% coming from non-defense spending, which would include education spending. The spending cuts would apply to FYs 2013-2021, and apply to both discretionary and mandatory spending programs. Only a handful of program - including the Pell Grant program - would be exempt from these cuts.
As part of the compromise, both the House and Senate agree to vote on a balanced budget constitutional amendment before the end of the year. The plan does not tie future debt limit increases on the outcome of that vote.
Impact on Student Aid Funding
Pell Grants: While many programs faced cuts in this bill, the Pell Grant program was provided with additional mandatory funding for both FY 2012 and 2013. Specifically, the package provides an additional $10 billion in mandatory funds for Pell in FY 2012 and $7 billion for FY 2013, amounts that should come close to preserving a $5,550 maximum award. When the President released his budget in February, Pell faced a projected $20 billion shortfall for FY 2012. The elimination of the Year-Round Pell Grant in the final FY 2011 budget bill reduced this shortfall to $11 billion. Even with the additional mandatory funding provided in the debt reduction package, Pell will still face a $1.3 billion dollar shortfall for FY 2012.
Interest Subsidy for Graduate Students: The Budget Control Act also eliminates the in-school interest subsidy for graduate and professional students beginning July 1, 2012, a provision that would save $18.1 billion from FY 2012-21, $8.2 billion of which is from FY 2012-16, according to the Congressional Budget Office (CBO). The legislative language clarifies that the subsidy elimination does not apply to students taking preparatory coursework and those in programs leading to teacher certification where the credential is awarded by the state instead of the institution.
Direct Loan Repayment Incentives: Repayment incentives were also eliminated in the final package. The incentive for using automatic debit repayment provided borrowers with a 0.25 interest rate reduction and the up-front interest rebate incentive was equal to 0.5 percent of the loan amount and applied toward the 1 percent loan origination fee. For PLUS loans, the up-front interest rebate was 1.5 percent applied toward the 4 percent origination fee. Borrowers were able to keep the rebate if they made their first 12 payments on time. The language prohibits the Department of Education from authorizing or providing repayment incentives on new loans disbursed on or after July 1, 2012, except that an interest rate reduction may be provided to a borrower who agrees to automatically debited electronic payments. The CBO projects the elimination of the origination fee rebates would yield $3.6 billion from FY 2012-21.
Together, the elimination of the graduate and professional in-school interest subsidy and direct loan repayment incentives yield a savings of $21.6 billion. In total, $17 billion of that is being redirected into the Pell Grant program, with the remaining $4.6 going toward deficit reduction.
Contextually speaking, with the exception of the graduate student interest subsidies, student aid funding was largely shielded from cuts during this process. However, funding for student aid could be targeted for cuts once again during the second phase of this process when the joint congressional committee must come up with an additional $1.5 trillion in savings.
Media Coverage
Debt Ceiling Deal To Add Thousands To Grad Student Loan Bills - The Huffington Post
Students, Seniors May Feel Impact of Debt Deal - USA Today
Debt Deal May Offer Only Temporary Reprieve for Student-Aid Programs - Chronicle of Higher Education
Short-Term Stability, But ... - Inside Higher Ed
Obama, Congressional Leaders Reach Debt Deal - Roll Call
Students to Feel Pinch in Debt Deal - CNN
Debt Deal Cuts Graduate Loans to Boost Pell Grants - USA Today
Debt Deal Boosts Pell Grant Funding, Cuts Student Loans - The Huffington Post
Publication Date: 8/3/2011
Friday, July 22, 2011
OCAN Ohio College Acceess Network
Here are some very useful sites from Ocan:
Other Resource Links
Preparing for College:
www.act.org
www.collegeboard.com
www.students.gov
www.collegeanswer.com
www.ode.state.oh.us
www.gedtest.org
www.sat-preparation.co.il
Selecting & Applying for Colleges:
www.collegeboard.com
www.collegenet.com
www.collegeview.com
www.mycollegeoptions.com
www.regents.state.oh.us/visit_campuses.htm
www.edref.com
Saving for College:
www.collegeadvantage.com
Paying for College:
www.fafsa.ed.gov
www.fastweb.com
www.finaid.org
www.salliemae.com
www.studentloanfunding.com
www.studentaid.ed.gov
www.todaysmilitary.com
www.lunch-money.com
Career Planning:
www.bls.gov/oco/home.htm
http://lmi.state.oh.us
http://www.mapping-your-future.org
http://ohiocareerdev.org
http://acrnetwork.org
http://www.oln.org/student_services/careerresources.php
http://acinet.org/acinet
Scholarship Sources:
http://www.dellscholars.org/
Financial Aid Resources:
Don't let dollars stand in the way of dreams. College is possible, and it is affordable. Loans, scholarships and grants are available. Thousands of them. In addition, military aid is available through
Reserve Officer Training Programs (ROTC), U.S. Armed Forces recruiting programs and Financial Aid for Veterans and their Dependents.
"How do I find out about the different scholarships and grants that are available?"
This can be overwhelming. There are literally thousands of different financial aid options and tools available. The trick is to find the ones that are right for you. There are scholarships based on geography, based on your field of study, based on extracurricular interests, etc. First, begin by understanding what financial aid is offered by your chosen school and determining whether you are eligible for the different programs. Then, work with your guidance counselors or college access programs in your community to navigate other sources. Other sources include many different Web sites, such as FinAid.org, FastWeb.com, collegeview.com, the U.S. Department of Education, the Ohio Department of Education and the Ohio Board of Regents. Many of these organizations publish scholarship directories that can be accessed through college information centers, high school libraries and public libraries.
For information about federal student aid programs, call the Federal Student Aid Information Center (FSAIC) at 1-800-4-FED-AID (1-800-433-3243) or 1-800-730-8913 (if hearing impaired) and ask for a free copy of The Student Guide: Financial Aid from the U.S. Department of Education. This toll-free hotline is run by the U.S. Department of Education and can answer questions about federal and state student aid programs and applications. You can also write to request a copy at:
Federal Student Aid Information Center
P.O. Box 84
Washington, DC 20044
Federal student aid requires you to complete the FAFSA form-the Free Application for Federal Student Aid. You can ask your guidance counselor for a copy. You can also get the FAFSA from the financial aid office at a local college, your local public library, or by calling 1-800-4-FED-AID. The online version of the form is available at www.fafsa.ed.gov.
"Why do I need to fill out so many forms? My parents are uncomfortable disclosing their personal financial information."
Financial aid programs are based on a family's or students' financial need. The forms you fill out are similar to your parents tax forms and in fact use your family's income and tax information already disclosed to the IRS. Financial detail is necessary to determine funding eligibility.
The Sallie Mae Fund Scholarship Funds
Addressing financial need through scholarships is one of the key elements of Project Access: The Sallie Mae Fund's community-based initiative. Since 2001, The Sallie Mae Fund has awarded $7.4 million in scholarships to help over 3,000 students enroll in college.
Other Resource Links
Preparing for College:
www.act.org
www.collegeboard.com
www.students.gov
www.collegeanswer.com
www.ode.state.oh.us
www.gedtest.org
www.sat-preparation.co.il
Selecting & Applying for Colleges:
www.collegeboard.com
www.collegenet.com
www.collegeview.com
www.mycollegeoptions.com
www.regents.state.oh.us/visit_campuses.htm
www.edref.com
Saving for College:
www.collegeadvantage.com
Paying for College:
www.fafsa.ed.gov
www.fastweb.com
www.finaid.org
www.salliemae.com
www.studentloanfunding.com
www.studentaid.ed.gov
www.todaysmilitary.com
www.lunch-money.com
Career Planning:
www.bls.gov/oco/home.htm
http://lmi.state.oh.us
http://www.mapping-your-future.org
http://ohiocareerdev.org
http://acrnetwork.org
http://www.oln.org/student_services/careerresources.php
http://acinet.org/acinet
Scholarship Sources:
http://www.dellscholars.org/
Financial Aid Resources:
Don't let dollars stand in the way of dreams. College is possible, and it is affordable. Loans, scholarships and grants are available. Thousands of them. In addition, military aid is available through
Reserve Officer Training Programs (ROTC), U.S. Armed Forces recruiting programs and Financial Aid for Veterans and their Dependents.
"How do I find out about the different scholarships and grants that are available?"
This can be overwhelming. There are literally thousands of different financial aid options and tools available. The trick is to find the ones that are right for you. There are scholarships based on geography, based on your field of study, based on extracurricular interests, etc. First, begin by understanding what financial aid is offered by your chosen school and determining whether you are eligible for the different programs. Then, work with your guidance counselors or college access programs in your community to navigate other sources. Other sources include many different Web sites, such as FinAid.org, FastWeb.com, collegeview.com, the U.S. Department of Education, the Ohio Department of Education and the Ohio Board of Regents. Many of these organizations publish scholarship directories that can be accessed through college information centers, high school libraries and public libraries.
For information about federal student aid programs, call the Federal Student Aid Information Center (FSAIC) at 1-800-4-FED-AID (1-800-433-3243) or 1-800-730-8913 (if hearing impaired) and ask for a free copy of The Student Guide: Financial Aid from the U.S. Department of Education. This toll-free hotline is run by the U.S. Department of Education and can answer questions about federal and state student aid programs and applications. You can also write to request a copy at:
Federal Student Aid Information Center
P.O. Box 84
Washington, DC 20044
Federal student aid requires you to complete the FAFSA form-the Free Application for Federal Student Aid. You can ask your guidance counselor for a copy. You can also get the FAFSA from the financial aid office at a local college, your local public library, or by calling 1-800-4-FED-AID. The online version of the form is available at www.fafsa.ed.gov.
"Why do I need to fill out so many forms? My parents are uncomfortable disclosing their personal financial information."
Financial aid programs are based on a family's or students' financial need. The forms you fill out are similar to your parents tax forms and in fact use your family's income and tax information already disclosed to the IRS. Financial detail is necessary to determine funding eligibility.
The Sallie Mae Fund Scholarship Funds
Addressing financial need through scholarships is one of the key elements of Project Access: The Sallie Mae Fund's community-based initiative. Since 2001, The Sallie Mae Fund has awarded $7.4 million in scholarships to help over 3,000 students enroll in college.
Wednesday, May 4, 2011
Maximizng Your Aid
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What Are Some Tips for Maximizing Financial Aid?By Unigo
Posted: May 4, 2011
Share This
If you've just received your financial aid package, congratulations! If the document looks like it is written in a foreign language with terms you've never heard of, you're not alone. This week, the Unigo Expert Network addresses financial aid basics for a question from Mary S. in Boston, who asks:
Q: I just got my financial aid package and don't know what to make of it. What are some terms I should know, things I should look for, or tips and tricks to maximize my aid?
A: Paying for college may be the most stressful part.
Steve Loflin, founder and CEO, National Society of Collegiate Scholars
It's important for your family to determine what you can reasonably afford and make sure you are exploring colleges that fit within those financial parameters. Doing well academically (SAT, ACT, and in classes) and being active pre-college will go a very long way toward maximizing your financial aid package. If your package is not meeting family expectations, get creative by patching together dollars to make the financial ends meet. You can reach out to local community organizations, honor societies, and even search for quirky scholarships around a hobby or special interest. Also connect with current college students at the school you want to attend, because they usually have the best advice based on their experience and what they wish they would have known before they arrived.
[See 8 steps for building your own scholarship.]
A: Take control and be at an advantage.
James Montoya, vice president of higher education, The College Board
You're not alone. The reason most students (and parents) find the financial aid process complex is because it is complex! But don't let that stop you from investing the time in better understanding the process and the terminology you'll find in financial aid awards. You have two great resources at hand. First, the College Board website has a free and easy to use online tool that allows you to compare financial aid awards and demystifies the challenging terminology. Second, there are the financial aid officers at the colleges you are considering, and you shouldn't hesitate to call them with your questions. Take control of the financial aid process, and you'll find yourself at a clear advantage for your entire college career.
[Consider taking these 6 steps to boost your financial aid.]
A: Look at free money first; don't be afraid to negotiate.
Katherine Cohen, founder and CEO, IvyWise and ApplyWise.com
Look at free money first: scholarships, grants, and merit aid. Then, work-study: job placement on campus or in the local community. And finally, loans: money plus interest paid back over time. Once you're admitted, a college wants you to attend. Have your parents call the financial aid office. Present the most comprehensive picture of your family's financial situation, including any changes. Ask a first-choice school to match another offer. Students often receive more aid. Awards may not be consistent for four years; you'll need to reapply annually. Choose a college that's an academic, social, and financial fit for you.
[Follow 10 steps to picking the right college.]
A: Observe the total cost, not just line item amounts.
Stacey Kostell, director of admissions, University of Illinois—Urbana-Champaign
Be sure to compare the bottom line cost, not only the amount of scholarship money received. Know what expenses will be billed such as tuition, fees, room/board vs. personal expenses paid for out of pocket throughout the year. Depending on school location, personal expenses can vary greatly—and should include travel cost. Also, understand what is gift money (grants/scholarships) vs. loans, which you'll have to repay. With scholarships, know if they're renewable and what the requirements are to renew them. Finally, know that not all schools negotiate. Many publics do not, which means aid is not flexible unless income changes.
Visit the Unigo Expert Network for 26 more expert explanations of financial aid packages and to have your own questions answered.
What Are Some Tips for Maximizing Financial Aid?By Unigo
Posted: May 4, 2011
Share This
If you've just received your financial aid package, congratulations! If the document looks like it is written in a foreign language with terms you've never heard of, you're not alone. This week, the Unigo Expert Network addresses financial aid basics for a question from Mary S. in Boston, who asks:
Q: I just got my financial aid package and don't know what to make of it. What are some terms I should know, things I should look for, or tips and tricks to maximize my aid?
A: Paying for college may be the most stressful part.
Steve Loflin, founder and CEO, National Society of Collegiate Scholars
It's important for your family to determine what you can reasonably afford and make sure you are exploring colleges that fit within those financial parameters. Doing well academically (SAT, ACT, and in classes) and being active pre-college will go a very long way toward maximizing your financial aid package. If your package is not meeting family expectations, get creative by patching together dollars to make the financial ends meet. You can reach out to local community organizations, honor societies, and even search for quirky scholarships around a hobby or special interest. Also connect with current college students at the school you want to attend, because they usually have the best advice based on their experience and what they wish they would have known before they arrived.
[See 8 steps for building your own scholarship.]
A: Take control and be at an advantage.
James Montoya, vice president of higher education, The College Board
You're not alone. The reason most students (and parents) find the financial aid process complex is because it is complex! But don't let that stop you from investing the time in better understanding the process and the terminology you'll find in financial aid awards. You have two great resources at hand. First, the College Board website has a free and easy to use online tool that allows you to compare financial aid awards and demystifies the challenging terminology. Second, there are the financial aid officers at the colleges you are considering, and you shouldn't hesitate to call them with your questions. Take control of the financial aid process, and you'll find yourself at a clear advantage for your entire college career.
[Consider taking these 6 steps to boost your financial aid.]
A: Look at free money first; don't be afraid to negotiate.
Katherine Cohen, founder and CEO, IvyWise and ApplyWise.com
Look at free money first: scholarships, grants, and merit aid. Then, work-study: job placement on campus or in the local community. And finally, loans: money plus interest paid back over time. Once you're admitted, a college wants you to attend. Have your parents call the financial aid office. Present the most comprehensive picture of your family's financial situation, including any changes. Ask a first-choice school to match another offer. Students often receive more aid. Awards may not be consistent for four years; you'll need to reapply annually. Choose a college that's an academic, social, and financial fit for you.
[Follow 10 steps to picking the right college.]
A: Observe the total cost, not just line item amounts.
Stacey Kostell, director of admissions, University of Illinois—Urbana-Champaign
Be sure to compare the bottom line cost, not only the amount of scholarship money received. Know what expenses will be billed such as tuition, fees, room/board vs. personal expenses paid for out of pocket throughout the year. Depending on school location, personal expenses can vary greatly—and should include travel cost. Also, understand what is gift money (grants/scholarships) vs. loans, which you'll have to repay. With scholarships, know if they're renewable and what the requirements are to renew them. Finally, know that not all schools negotiate. Many publics do not, which means aid is not flexible unless income changes.
Visit the Unigo Expert Network for 26 more expert explanations of financial aid packages and to have your own questions answered.
Wednesday, April 6, 2011
Money Matters
Earn a College Degree with Less Debt
EnlargeIf college students could have one wish it might be to receive a good education without having to spend the next 20 years paying off massive student loans and credit card debt. The truth is, you can earn a great college education with less debt. All it takes is a little savvy money management and self control.
"There are more money issues for today's students than in any other generation before them," says Todd Romer, executive director of Young Money magazine. From the rising cost of college to luxuries like cell phones, today's college students often find themselves with credit card debt malaise by the time they don their cap and gown. Those looking to avoid such a fate and take a proactive approach to debt should give the following tips a try.
Use Credit Cards Sparingly
"Getting a credit card is not a bad idea," says Romer. According to a recent study of student loan applicants conducted by Nellie Mae, a leading provider of higher education loans, 78 percent of all college students today have at least one credit card. That said, Romer advises that students keep their credit card in the deepest part of their wallet to use for emergencies and/or purchases they're fully capable of paying for within 30 days.
Romer also suggests that students call their credit card company and request a $500 spending limit on the card.
Create a weekly spending plan
"In terms of taking charge of your finances, it really starts with knowing what you truly make," says Romer. While more students are working than ever before, many still find they're spending more than they're earning.
"If you monitor your weekly spending plan about twice a week, you should be good to go," adds Romer.
Think Hard About Graduate School
Some new grads who aren't yet ready for the working world decide to attend graduate school immediately after college. While there are right reasons to go to grad school immediately after earning a college education, students should be aware of the financial commitment graduate school represents, not to mention the sacrfice of potentially valuable work experience while continuing their education.
"Gaining work experience is very important and you always have the opportunity to go back to grad school," says Romer. "A lot of times, the company that you are employed by has the ability to pay half, if not all, of your grad school expenses."
Invest, Invest, Invest ...
While recent grads or current students might be scraping pennies together, Romer notes that simply investing $25 to $50 per month is enough to get started.
"Commit to learning how to invest because of the power of time and the power of compound interest," says Romer.
Romer adds that another benefit of students investing while earning a college education is how it actually alters spending in other areas of life.
"Once students see that their money is beginning to work for them, they might look at how they're spending money on things like clothing," Romer says. "They might say, 'Maybe I don't need that $80 pair of shoes.' They look at their account and see it's growing and want to be able to add more to it."
http://wnwv.northcoastnow.com/media/wnwv/Money-matters/article0009.html
Tuesday, April 5, 2011
Pell Grants are Becoming ‘The Welfare of the 21st Century’ ?
Congressman Denny Rehberg
GOP Congressman: Pell Grants are Becoming ‘The Welfare of the 21st Century’
by Suada Kolovic
04/04/2011
The GOP is no stranger to controversy and Friday’s interview with Rep. Denny Rehberg (R-Mont.) was no exception. In a radio interview with Blog Talk Radio, Rehberg went on a rant in which he compared the Pell Grant Program – the nation’s largest financial aid program – to the likes of welfare and denounced the fact that students who receive them don’t have a graduation requirement. "You can go to school, collect your Pell Grants, get food stamps, low-income energy assistance, section 8 housing, and all of a sudden we find ourselves subsidizing people that don’t have to graduate from college.” Rehberg added under the federal program, a student could "go to school for nine years on Pell Grants and you don’t even have to get a degree."
Jason Delisle, director of the Federal Education Budget Project at the New America Foundation, took issue with Rehberg's comments. "I don't know if it's a fair characterization that someone has decided to go through the hoops of applying to college, getting enrolled and showing up every day because it's the welfare lifestyle," he said. "If the issue is people are being lazy and living off the dole, so to speak, I don't think their first step is to enroll in college."
For the 2012 fiscal year, the Pell Grant program is set to exceed $40 billion. Some lawmakers have been exploring ways to reduce the cost of the programs by lowering the maximum grant size – which is currently $5,550 – or restricting eligibility. In Montana, Rehberg recently voted for the House GOP budget resolution, which would reduce the maximum Pell Grant to $4,705 and narrow the eligibility of applicants. If you’re eligible for Pell Grants, what do you think? Are Rehberg’s assumptions out of line?
Wednesday, March 30, 2011
High School Online
http://www.pennfostercollege.edu/
REGIONAL ACCREDITATION, but if you don't want to take GED class or go to night school, this might be an option for you.
Career ProgramsHigh SchoolHigh School Diploma, Program Overview
Program Overview
Other High School options:
High School with
Health Care Concentration
Penn Foster also offers a Health Care-Focused High School program. Graduates earn their Diploma and study basic health care courses needed to accelerate a career as a Medical Office Assistant, Medical Coding and Billing Administrator, or Medical Transcriptionist.
High School with
Early College Courses
Penn Foster High School with Early College Courses offers students ACE evaluated and recommended college level courses transferable to Penn Foster College.
High School with
Building Technology Concentration
Penn Foster offers a Building Technology Focused High School with elective courses for those interested in a career as a plumber, carpenter, or electrician.
Earn your High School Diploma
at home, at your own pace.
Becoming a High School graduate opens up new opportunities - go to college, start a new career, earn more money. Even if you decide not to go on to college, your High School Diploma can qualify you for new career fields.
Earning your high school diploma at home with Penn Foster is convenient, affordable, and accredited. Since there is no set class schedule, you study when and where it's convenient for you. You work at your own pace. There's no one to rush you or hold you back.
And while you work independently, you're never alone. Expert instructors and support staff - dedicated to helping you complete your coursework – are just a phone call or an email away.
Prepare for your High School Diploma at home with these courses and more:
•Reading Skills, English, and Mathematics
•American and World History
•Biology, Earth Science, and Physical Science
•Career-oriented electives like Auto Repair Technician, Personal Computer Specialist, and more...
•Traditional electives like Chemistry, Spanish, and Music
In as little as nine months for each year of High School you need, you can have your High School Diploma. If you only need a course or two, we offer you the opportunity to take only the courses you need.
Note: You must complete a minimum of 5.5 credits
with Penn Foster to earn our high school diploma.
Don’t Need a Complete Program?
Penn Foster High School offers academic and financial credit for recognized high school courses you have already successfully completed. See the Program Outline for more information.
Respected and Accredited
You'll earn your High School Diploma from Regionally and Nationally Accredited Penn Foster Career School. Penn Foster Career School is accredited by the Middle States Commission on Secondary Schools, the Accrediting Commission of the Distance Education and Training Council (DETC) and is licensed by the Pennsylvania State Board of Private Licensed Schools.
Career Services Included!
Graduates of the Penn Foster High School Diploma Program can take advantage of Penn Foster Career Services which includes access to information on how to search for and find that great job, tips on interviewing, preparing a cover letter, and we'll even have a Certified Professional Resume Writer help you create your resume.
Home School Requirements
Any student who is of compulsory age must also comply with home school requirements dictated by their school district, or students will be considered truant. You need to check the requirement of your district to ensure the Penn Foster High School program meets the district's home school requirements.
Contact Penn Foster Today.
We'll send you FREE information with absolutely no obligation! Find out more about earning your High School Diploma. Your program includes:
•All the textbooks, lessons, and study guides you need.
•Toll-free instructional support.
•Access to student services by website, phone, and mail.
program overviewprogram outlineyour futuretuition and financingaccreditationhow it workshigh school mission statementcareer services ENROLL NOW
REQUEST INFORMATION
Speak with an Enrollment Advisor
Enroll Today...Start Today!When you enroll with Penn Foster you’re able to start your studies almost immediately. Once you receive your confirming e-mail with your student I.D. number, you can log into the Penn Foster student web site and begin your course.
Get more information today, contact us or enroll online and you could be working on your first lesson – and toward a new career – in a matter of minutes!
STUDENT LOGINHomeAboutcontactcareer servicesindustrial coursesSelect Choose Your Country --------------------------- USA Canada All Other Countries --------------------------- PennFoster
search The Largest Accredited School
of Independent Study.High School
Diplomacareer Programs
and certificatesdegree programs
from penn foster college (az)Student center
and communityaccreditation
and licensinggeneral info
Home
About Us
Contact Us
Privacy Policy
Copyright & Terms
Corporate Site
Work for Penn Foster
Link To Us
Site Map
quick links
Student Center
Testimonials
Accreditation
FAQ
Career Diplomas
Automotive
Business
Creative/Design
Drafting
Education
Health Services
High School
Legal Studies
Technology
Trades
contact us
For More Information
or to Enroll
Call: 1-800-275-4410
Student Service
Call: 1-888-427-1000
Penn Foster Career School
Student Services Center
925 Oak Street
Scranton, PA 18515
USA
select your country Choose Your Country --------------------------- USA US Territories Canada All Other Countries --------------------------- COMMUNITY
FacebookTwitterFlickr
REGIONAL ACCREDITATION, but if you don't want to take GED class or go to night school, this might be an option for you.
Career ProgramsHigh SchoolHigh School Diploma, Program Overview
Program Overview
Other High School options:
High School with
Health Care Concentration
Penn Foster also offers a Health Care-Focused High School program. Graduates earn their Diploma and study basic health care courses needed to accelerate a career as a Medical Office Assistant, Medical Coding and Billing Administrator, or Medical Transcriptionist.
High School with
Early College Courses
Penn Foster High School with Early College Courses offers students ACE evaluated and recommended college level courses transferable to Penn Foster College.
High School with
Building Technology Concentration
Penn Foster offers a Building Technology Focused High School with elective courses for those interested in a career as a plumber, carpenter, or electrician.
Earn your High School Diploma
at home, at your own pace.
Becoming a High School graduate opens up new opportunities - go to college, start a new career, earn more money. Even if you decide not to go on to college, your High School Diploma can qualify you for new career fields.
Earning your high school diploma at home with Penn Foster is convenient, affordable, and accredited. Since there is no set class schedule, you study when and where it's convenient for you. You work at your own pace. There's no one to rush you or hold you back.
And while you work independently, you're never alone. Expert instructors and support staff - dedicated to helping you complete your coursework – are just a phone call or an email away.
Prepare for your High School Diploma at home with these courses and more:
•Reading Skills, English, and Mathematics
•American and World History
•Biology, Earth Science, and Physical Science
•Career-oriented electives like Auto Repair Technician, Personal Computer Specialist, and more...
•Traditional electives like Chemistry, Spanish, and Music
In as little as nine months for each year of High School you need, you can have your High School Diploma. If you only need a course or two, we offer you the opportunity to take only the courses you need.
Note: You must complete a minimum of 5.5 credits
with Penn Foster to earn our high school diploma.
Don’t Need a Complete Program?
Penn Foster High School offers academic and financial credit for recognized high school courses you have already successfully completed. See the Program Outline for more information.
Respected and Accredited
You'll earn your High School Diploma from Regionally and Nationally Accredited Penn Foster Career School. Penn Foster Career School is accredited by the Middle States Commission on Secondary Schools, the Accrediting Commission of the Distance Education and Training Council (DETC) and is licensed by the Pennsylvania State Board of Private Licensed Schools.
Career Services Included!
Graduates of the Penn Foster High School Diploma Program can take advantage of Penn Foster Career Services which includes access to information on how to search for and find that great job, tips on interviewing, preparing a cover letter, and we'll even have a Certified Professional Resume Writer help you create your resume.
Home School Requirements
Any student who is of compulsory age must also comply with home school requirements dictated by their school district, or students will be considered truant. You need to check the requirement of your district to ensure the Penn Foster High School program meets the district's home school requirements.
Contact Penn Foster Today.
We'll send you FREE information with absolutely no obligation! Find out more about earning your High School Diploma. Your program includes:
•All the textbooks, lessons, and study guides you need.
•Toll-free instructional support.
•Access to student services by website, phone, and mail.
program overviewprogram outlineyour futuretuition and financingaccreditationhow it workshigh school mission statementcareer services ENROLL NOW
REQUEST INFORMATION
Speak with an Enrollment Advisor
Enroll Today...Start Today!When you enroll with Penn Foster you’re able to start your studies almost immediately. Once you receive your confirming e-mail with your student I.D. number, you can log into the Penn Foster student web site and begin your course.
Get more information today, contact us or enroll online and you could be working on your first lesson – and toward a new career – in a matter of minutes!
STUDENT LOGINHomeAboutcontactcareer servicesindustrial coursesSelect Choose Your Country --------------------------- USA Canada All Other Countries --------------------------- PennFoster
search The Largest Accredited School
of Independent Study.High School
Diplomacareer Programs
and certificatesdegree programs
from penn foster college (az)Student center
and communityaccreditation
and licensinggeneral info
Home
About Us
Contact Us
Privacy Policy
Copyright & Terms
Corporate Site
Work for Penn Foster
Link To Us
Site Map
quick links
Student Center
Testimonials
Accreditation
FAQ
Career Diplomas
Automotive
Business
Creative/Design
Drafting
Education
Health Services
High School
Legal Studies
Technology
Trades
contact us
For More Information
or to Enroll
Call: 1-800-275-4410
Student Service
Call: 1-888-427-1000
Penn Foster Career School
Student Services Center
925 Oak Street
Scranton, PA 18515
USA
select your country Choose Your Country --------------------------- USA US Territories Canada All Other Countries --------------------------- COMMUNITY
FacebookTwitterFlickr
Tuesday, March 29, 2011
Support the UNCF
There are 2,500 seniors at our schools who are in good academic standing and who need help to pay off their outstanding balances so they can graduate this spring. After four years of hard work and sacrifice, they are at the doorway to their new lives, but first they must pay off their outstanding costs. These students need your help by the end of March to make sure four years of study lead to that treasured degree.
Please consider supporting our Campaign for Emergency Student Aid (CESA). CESA was established in 2009 to help seniors who run into financial trouble in their final year overcome that last hurdle to graduation. Your support will be a wonderful graduation gift to these deserving seniors.
We are counting down the days to help them and they are waiting to hear from us. Please give generously.
Thanks again for your all your help and all you do, and for believing that "A mind is a terrible thing to waste."®
Sincerely,
Michael L. Lomax, Ph.D.
President & CEO
UNCF - United Negro College Fund
Take 10 seconds to give $10:
1. Pick up your cell phone.
2. Text UNCF to 50555.
3. Press Send.
4. When you receive a text confirming your gift, type in Yes.
You will receive a thank you text for your $10 gift.
You have just helped thousands of students to graduate this spring. You may repeat this process up to three times within each billing cycle of your cell phone bill.
Please consider supporting our Campaign for Emergency Student Aid (CESA). CESA was established in 2009 to help seniors who run into financial trouble in their final year overcome that last hurdle to graduation. Your support will be a wonderful graduation gift to these deserving seniors.
We are counting down the days to help them and they are waiting to hear from us. Please give generously.
Thanks again for your all your help and all you do, and for believing that "A mind is a terrible thing to waste."®
Sincerely,
Michael L. Lomax, Ph.D.
President & CEO
UNCF - United Negro College Fund
Take 10 seconds to give $10:
1. Pick up your cell phone.
2. Text UNCF to 50555.
3. Press Send.
4. When you receive a text confirming your gift, type in Yes.
You will receive a thank you text for your $10 gift.
You have just helped thousands of students to graduate this spring. You may repeat this process up to three times within each billing cycle of your cell phone bill.
Thursday, March 24, 2011
Scholarships of High School Seniors
It’s senior year, and your college days are just around the corner. Hopefully, you have begun the college application process, but don’t panic if you haven’t. There is still time, but you’ll have to move quickly. Here are a few steps to remember:
1. Get Recommendations
2. Register For The ACT And/Or SAT (some schools will let you take the exam more than once and accept the highest score)
3. Submit The FAFSA Form
4. Search For Scholarships (if it's a scholarship that requires an essay, have an english teacher look it over before submitting it)
Good recommendations are important, for both college and scholarship applications. Colleges will have your grades, but they will be interested in knowing you personally. To ace this part of the application process, maintain relationships with your teachers, coaches, and volunteer directors. Pick out those who know you best, and ask them for a letter of recommendation. Be sure to give them sufficient time and to thank them when they have finished.
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
Scholarships.com “You Like Me…You Really Like Me” Facebook Scholarship
The scholarship will go to the Scholarships.com fan that is making the best use of our website’s many resources as determined by comments on our Facebook page. Love our scholarship search? Tell us why! Is our financial aid section really helping you out? Send us an example! Think our college prep section is the best? Give us a shout out! We always love hearing from our users so why not let your voice be heard and potentially earn $1,000 for college in the process.
Starts: February 14th
Ends: March 31st
Number Available: 1
Amount: $1,000 for one first-prize winner; Scholarships.com hats and t-shirts for second- and third-prize winners
Step 1:“Like” Scholarships.com on Facebook.
Step 2: Post on our wall how Scholarships.com is helping you with your scholarship search. Once you do this, you are automatically entered to win a $1,000 scholarship.
Step 3: You may enter as many times as you want but please limit your comments to a reasonable amount per day and don't spam us by posting the same comment 10 times in a row. From there, the Scholarships.com Team will determine which comment best exemplifies what our site is all about and which applicant is using our resources most effectively.
This scholarship competition is offered by Scholarships.com and is in no way sponsored, endorsed or administered by, or associated with, Facebook.
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
Atlas Shrugged Essay Contest Information
Eligibility: 12th Graders, College Undergraduates, and Graduate Students
Entry Deadline: September 17, 2011
FIRST PRIZE: $10,000
3 SECOND PRIZES: $2,000
5 THIRD PRIZES: $1,000
25 FINALISTS: $100
50 SEMIFINALISTS: $50
Topics
Select ONE of the following three topics:
What do you think is meant, in Part III of Atlas Shrugged, by the phrase “utopia of greed”?
Why does Francisco D’Anconia, heir to the greatest fortune in the world and a productive genius with boundless ambition,change his course and pose as, of all things, a playboy?
What does the story of Atlas Shrugged have to say about the relative powers of good and evil and the conditions under which one is victorious over the other?.
Judging
Atlas Shrugged Essay Contest
The winning applicant will be judged on both style and content. Judges will look for writing that is clear, articulate and logically organized. Winning essays must demonstrate an outstanding grasp of the philosophic meaning of Atlas Shrugged. Essay submissions are evaluated in a fair and unbiased four-round judging process. Judges are individually selected by the Ayn Rand Institute based on a demonstrated knowledge and understanding of Ayn Rand’s works. To ensure the anonymity of our participants, essay cover sheets are removed after the first round. Winners’ names are unknown to judges until after essays have been ranked and the contest results finalized. The Ayn Rand Institute checks essays with Ithenticate plagiarism detection software.
Rules
No application is required. The Contest is open to students worldwide, except where void or prohibited by law.
Entrant must be a 12th Grader, College Undergraduate, or Graduate Student. To avoid disqualification, mailed in essays must include a stapled cover sheet with the following information:
your name and address;
your e-mail address (if available);
the name and address of your school;
topic selected (#1, 2 or 3 from list above);
your current grade level; and
(optional) the name of the teacher who assigned the essay, if you are completing it for classroom credit.
Essay must be no fewer than 800 and no more than 1,600 words in length, and double-spaced.
One entry per student. No purchase necessary to win. Essay must be postmarked no later than September 17, 2011, no later than 11:59 PM, Pacific Standard time.The Ayn Rand Institute has the right to provide contest deadline extensions when deemed appropriate.
Essay must be solely the work of the entrant. Plagiarism will result in disqualification. Essays must not infringe on any third party rights or intellectual property of any person, company, or organization. By submitting an essay to this Contest, the entrant agrees to indemnify the Ayn Rand Institute for any claim, demand, judgment, or other allegation arising from possible violation of someone’s trademark, copyright, or other legally protected interest in any way in the entrant’s essay.
Decisions of the judges are final. Employees of the Ayn Rand Institute, its board of directors and their immediate family members are not eligible for this contest. Past first-place winners are not eligible for this contest.
All entries become the property of the Ayn Rand Institute and will not be returned.
Winners, finalists, semifinalists and all other participants will be notified via e-mail by November 28 2011.
Winners are responsible to provide their mailing addresses and other necessary information under the law in order to receive any prizes. Contest winners agree to allow the Ayn Rand Institute to post their names on any of ARI’s affiliated websites. The winning first place essay may be posted in its entirety on any of these websites with full credit given to the author. Winners will be solely responsible for any federal, state or local taxes.
To Enter
Or mail your essay with stapled cover sheet to:
Atlas Shrugged Essay Contest
The Ayn Rand Institute
P.O. Box 57044
Irvine, CA 92619-7044
Please do not submit duplicate essays!
If submitting your essay electronically, you will be sent an email confirming our receipt. If you have not received an e-mail notification within 24 hours, please e-mail info@aynrandnovels.com. If you are submitting by mail, please paperclip a stamped, self-addressed postcard to the your essay and we will return it to you.
To learn more about Atlas Shrugged, go to: http://atlasshrugged.com
Comments or Questions
Comments or questions about the essay contests are welcome. Please write to info@aynrandnovels.com.
Protected by Ithenticate Plagiarism
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
The Fountainhead Essay Contest Information
Eligibility: 11th and 12th Graders
Entry Deadline: April 26, 2011
FIRST PRIZE: $10,000
5 SECOND PRIZES: $2,000
10 THIRD PRIZES: $1,000
45 FINALISTS: $100
175 SEMIFINALISTS: $50
Topics
Select ONE of the following three topics:
After the Stoddard trial, Dominique Francon marries Peter Keating. Given her love for the integrity of Howard Roark's buildings and person, why does she do this? What is she seeking from the marriage? How does her action of marrying Peter relate to her deeper convictions and conflicts?
In dynamiting Cortlandt Homes, Howard Roark breaks the law. What is his moral and philosophical argument for the rectitude of his action?
Choose the scene in The Fountainhead that is most meaningful to you. Analyze that scene in terms of the wider themes in the book.
Judging
Essays will be judged on both style and content. Judges will look for writing that is clear, articulate and logically organized. Winning essays must demonstrate an outstanding grasp of the philosophic meaning of The Fountainhead.
Essay submissions are evaluated in a fair and unbiased four-round judging process. Judges are individually selected by the Ayn Rand Institute based on a demonstrated knowledge and understanding of Ayn Rand’s works. To ensure the anonymity of our participants, essay cover sheets are removed after the first round. Winners’ names are unknown to judges until after essays have been ranked and the contest results finalized. The Ayn Rand Institute checks essays with Ithenticate plagiarism detection software.
Rules
No application is required. Contest is open to students worldwide.
Entrant must be in the 11th or 12th grade.
To avoid disqualification, mailed in essays must include a stapled cover sheet with the following information:
your name and address;
your e-mail address (if available);
the name and address of your school;
topic selected (#1, 2 or 3 from list above);
your current grade level; and
(optional) the name of the teacher who assigned the essay, if you are completing it for classroom credit.
Essay must be no fewer than 800 and no more than 1,600 words in length and double-spaced.
One entry per student, please.
Essay must be postmarked no later than April 26, 2011, no later than 11:59 PM, Pacific Standard Time.
The Ayn Rand Institute has the right to provide contest deadline extensions when deemed appropriate.
Essay must be solely the work of the entrant. Plagiarism will result in disqualification.
Decisions of the judges are final.
Employees of the Ayn Rand Institute, its board of directors and their immediate family members are not eligible for this contest. Past first-place winners are not eligible for this contest.
All entries become the property of the Ayn Rand Institute and will not be returned.
Winners, finalists, semifinalists and all other participants will be notified via e-mail and/or by mail by July 26, 2011.
Contest winners agree to allow the Ayn Rand Institute to post their names on any of ARI’s affiliated websites. The winning first place essay may be posted in its entirety on any of these websites with full credit given to the author.
Winners will be solely responsible for any federal, state or local taxes.
To Enter
Or mail your essay with stapled cover sheet to:
The Fountainhead Essay Contest
The Ayn Rand Institute
P.O. Box 57044
Irvine, CA 92619-7044
Please do not submit duplicate essays!
If submitting your essay electronically, you will be sent an email confirming our receipt. If you have not received an e-mail notification within 24 hours, please e-mail info@aynrandnovels.com. If you are submitting by mail, please paperclip a stamped, self-addressed postcard to the your essay and we will return it to you.
Comments or Questions
Comments or questions about the essay contests are welcome. Please write to info@aynrandnovels.com.
Protected by Ithenticate Plagiarism Detection Software
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
Cavaliers/Majestic Steel Scholarship Program
Presented by Majestic Steel USA
Cavaliers/Majestic Steel Scholarship Program will award four students $2,000.00 scholarships for the manufacturing programs at any one of the three local community colleges (Cuyahoga Community College, Lakeland Community College or Lorain Community College). Graduating high school seniors or first year college students already enrolled in the manufacturing programs at anyone of the three community colleges are eligible for the scholarships. Students need to submit a scholarship application, high school transcript (if applicable) and the 2011 FAFSA.
http://www.nba.com/cavaliers/media/2010_11_Majestic_Application.pdf
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
Cavaliers/FirstMerit Scholarship Program
Presented by FirstMerit Bank
For the 20th year, the Cavaliers and FirstMerit Bank will award 10 Northeast Ohio high school seniors with $2,000 college scholarships. Graduating seniors must submit a 500-word essay, perform a high level of service in their communities and provide a high school transcript, ACT and/or SAT scores and one letter of recommendation.
http://www.nba.com/cavaliers/media/2010_11_FirstMerit_Application.pdf
1. Get Recommendations
2. Register For The ACT And/Or SAT (some schools will let you take the exam more than once and accept the highest score)
3. Submit The FAFSA Form
4. Search For Scholarships (if it's a scholarship that requires an essay, have an english teacher look it over before submitting it)
Good recommendations are important, for both college and scholarship applications. Colleges will have your grades, but they will be interested in knowing you personally. To ace this part of the application process, maintain relationships with your teachers, coaches, and volunteer directors. Pick out those who know you best, and ask them for a letter of recommendation. Be sure to give them sufficient time and to thank them when they have finished.
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
Scholarships.com “You Like Me…You Really Like Me” Facebook Scholarship
The scholarship will go to the Scholarships.com fan that is making the best use of our website’s many resources as determined by comments on our Facebook page. Love our scholarship search? Tell us why! Is our financial aid section really helping you out? Send us an example! Think our college prep section is the best? Give us a shout out! We always love hearing from our users so why not let your voice be heard and potentially earn $1,000 for college in the process.
Starts: February 14th
Ends: March 31st
Number Available: 1
Amount: $1,000 for one first-prize winner; Scholarships.com hats and t-shirts for second- and third-prize winners
Step 1:“Like” Scholarships.com on Facebook.
Step 2: Post on our wall how Scholarships.com is helping you with your scholarship search. Once you do this, you are automatically entered to win a $1,000 scholarship.
Step 3: You may enter as many times as you want but please limit your comments to a reasonable amount per day and don't spam us by posting the same comment 10 times in a row. From there, the Scholarships.com Team will determine which comment best exemplifies what our site is all about and which applicant is using our resources most effectively.
This scholarship competition is offered by Scholarships.com and is in no way sponsored, endorsed or administered by, or associated with, Facebook.
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
Atlas Shrugged Essay Contest Information
Eligibility: 12th Graders, College Undergraduates, and Graduate Students
Entry Deadline: September 17, 2011
FIRST PRIZE: $10,000
3 SECOND PRIZES: $2,000
5 THIRD PRIZES: $1,000
25 FINALISTS: $100
50 SEMIFINALISTS: $50
Topics
Select ONE of the following three topics:
What do you think is meant, in Part III of Atlas Shrugged, by the phrase “utopia of greed”?
Why does Francisco D’Anconia, heir to the greatest fortune in the world and a productive genius with boundless ambition,change his course and pose as, of all things, a playboy?
What does the story of Atlas Shrugged have to say about the relative powers of good and evil and the conditions under which one is victorious over the other?.
Judging
Atlas Shrugged Essay Contest
The winning applicant will be judged on both style and content. Judges will look for writing that is clear, articulate and logically organized. Winning essays must demonstrate an outstanding grasp of the philosophic meaning of Atlas Shrugged. Essay submissions are evaluated in a fair and unbiased four-round judging process. Judges are individually selected by the Ayn Rand Institute based on a demonstrated knowledge and understanding of Ayn Rand’s works. To ensure the anonymity of our participants, essay cover sheets are removed after the first round. Winners’ names are unknown to judges until after essays have been ranked and the contest results finalized. The Ayn Rand Institute checks essays with Ithenticate plagiarism detection software.
Rules
No application is required. The Contest is open to students worldwide, except where void or prohibited by law.
Entrant must be a 12th Grader, College Undergraduate, or Graduate Student. To avoid disqualification, mailed in essays must include a stapled cover sheet with the following information:
your name and address;
your e-mail address (if available);
the name and address of your school;
topic selected (#1, 2 or 3 from list above);
your current grade level; and
(optional) the name of the teacher who assigned the essay, if you are completing it for classroom credit.
Essay must be no fewer than 800 and no more than 1,600 words in length, and double-spaced.
One entry per student. No purchase necessary to win. Essay must be postmarked no later than September 17, 2011, no later than 11:59 PM, Pacific Standard time.The Ayn Rand Institute has the right to provide contest deadline extensions when deemed appropriate.
Essay must be solely the work of the entrant. Plagiarism will result in disqualification. Essays must not infringe on any third party rights or intellectual property of any person, company, or organization. By submitting an essay to this Contest, the entrant agrees to indemnify the Ayn Rand Institute for any claim, demand, judgment, or other allegation arising from possible violation of someone’s trademark, copyright, or other legally protected interest in any way in the entrant’s essay.
Decisions of the judges are final. Employees of the Ayn Rand Institute, its board of directors and their immediate family members are not eligible for this contest. Past first-place winners are not eligible for this contest.
All entries become the property of the Ayn Rand Institute and will not be returned.
Winners, finalists, semifinalists and all other participants will be notified via e-mail by November 28 2011.
Winners are responsible to provide their mailing addresses and other necessary information under the law in order to receive any prizes. Contest winners agree to allow the Ayn Rand Institute to post their names on any of ARI’s affiliated websites. The winning first place essay may be posted in its entirety on any of these websites with full credit given to the author. Winners will be solely responsible for any federal, state or local taxes.
To Enter
Or mail your essay with stapled cover sheet to:
Atlas Shrugged Essay Contest
The Ayn Rand Institute
P.O. Box 57044
Irvine, CA 92619-7044
Please do not submit duplicate essays!
If submitting your essay electronically, you will be sent an email confirming our receipt. If you have not received an e-mail notification within 24 hours, please e-mail info@aynrandnovels.com. If you are submitting by mail, please paperclip a stamped, self-addressed postcard to the your essay and we will return it to you.
To learn more about Atlas Shrugged, go to: http://atlasshrugged.com
Comments or Questions
Comments or questions about the essay contests are welcome. Please write to info@aynrandnovels.com.
Protected by Ithenticate Plagiarism
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
The Fountainhead Essay Contest Information
Eligibility: 11th and 12th Graders
Entry Deadline: April 26, 2011
FIRST PRIZE: $10,000
5 SECOND PRIZES: $2,000
10 THIRD PRIZES: $1,000
45 FINALISTS: $100
175 SEMIFINALISTS: $50
Topics
Select ONE of the following three topics:
After the Stoddard trial, Dominique Francon marries Peter Keating. Given her love for the integrity of Howard Roark's buildings and person, why does she do this? What is she seeking from the marriage? How does her action of marrying Peter relate to her deeper convictions and conflicts?
In dynamiting Cortlandt Homes, Howard Roark breaks the law. What is his moral and philosophical argument for the rectitude of his action?
Choose the scene in The Fountainhead that is most meaningful to you. Analyze that scene in terms of the wider themes in the book.
Judging
Essays will be judged on both style and content. Judges will look for writing that is clear, articulate and logically organized. Winning essays must demonstrate an outstanding grasp of the philosophic meaning of The Fountainhead.
Essay submissions are evaluated in a fair and unbiased four-round judging process. Judges are individually selected by the Ayn Rand Institute based on a demonstrated knowledge and understanding of Ayn Rand’s works. To ensure the anonymity of our participants, essay cover sheets are removed after the first round. Winners’ names are unknown to judges until after essays have been ranked and the contest results finalized. The Ayn Rand Institute checks essays with Ithenticate plagiarism detection software.
Rules
No application is required. Contest is open to students worldwide.
Entrant must be in the 11th or 12th grade.
To avoid disqualification, mailed in essays must include a stapled cover sheet with the following information:
your name and address;
your e-mail address (if available);
the name and address of your school;
topic selected (#1, 2 or 3 from list above);
your current grade level; and
(optional) the name of the teacher who assigned the essay, if you are completing it for classroom credit.
Essay must be no fewer than 800 and no more than 1,600 words in length and double-spaced.
One entry per student, please.
Essay must be postmarked no later than April 26, 2011, no later than 11:59 PM, Pacific Standard Time.
The Ayn Rand Institute has the right to provide contest deadline extensions when deemed appropriate.
Essay must be solely the work of the entrant. Plagiarism will result in disqualification.
Decisions of the judges are final.
Employees of the Ayn Rand Institute, its board of directors and their immediate family members are not eligible for this contest. Past first-place winners are not eligible for this contest.
All entries become the property of the Ayn Rand Institute and will not be returned.
Winners, finalists, semifinalists and all other participants will be notified via e-mail and/or by mail by July 26, 2011.
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To Enter
Or mail your essay with stapled cover sheet to:
The Fountainhead Essay Contest
The Ayn Rand Institute
P.O. Box 57044
Irvine, CA 92619-7044
Please do not submit duplicate essays!
If submitting your essay electronically, you will be sent an email confirming our receipt. If you have not received an e-mail notification within 24 hours, please e-mail info@aynrandnovels.com. If you are submitting by mail, please paperclip a stamped, self-addressed postcard to the your essay and we will return it to you.
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Cavaliers/Majestic Steel Scholarship Program
Presented by Majestic Steel USA
Cavaliers/Majestic Steel Scholarship Program will award four students $2,000.00 scholarships for the manufacturing programs at any one of the three local community colleges (Cuyahoga Community College, Lakeland Community College or Lorain Community College). Graduating high school seniors or first year college students already enrolled in the manufacturing programs at anyone of the three community colleges are eligible for the scholarships. Students need to submit a scholarship application, high school transcript (if applicable) and the 2011 FAFSA.
http://www.nba.com/cavaliers/media/2010_11_Majestic_Application.pdf
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
Cavaliers/FirstMerit Scholarship Program
Presented by FirstMerit Bank
For the 20th year, the Cavaliers and FirstMerit Bank will award 10 Northeast Ohio high school seniors with $2,000 college scholarships. Graduating seniors must submit a 500-word essay, perform a high level of service in their communities and provide a high school transcript, ACT and/or SAT scores and one letter of recommendation.
http://www.nba.com/cavaliers/media/2010_11_FirstMerit_Application.pdf
Wednesday, March 23, 2011
A Heavier Load in Ohio
March 22, 2011
A proposal for Ohio’s faculty members to teach more classes has drawn fire -- even though similar plans have been attempted elsewhere successfully.
In his budget address last week, Governor John Kasich unveiled a plan that included a mandate that professors at public institutions teach one additional course every two years. While significant details remain undefined, the plan is meant to apply to all professors while also providing flexibility for administrators and controlling costs, said Connie Wehrkamp, Kasich’s deputy press secretary. She did not specify how much money the plan would save the state.
It would be left to the new chancellor of the University System of Ohio, Jim Petro, and the Board of Regents to work with colleges and universities to figure out the best way to implement the increased load. Wehrkamp noted that current workload levels result in colleges having to hire additional part-time instructors to cover gaps. The result is that universities spend more money to hire adjunct faculty while effectively denying students access to full-time professors, she said. “This change could reduce costs as well as improve students’ academic experiences,” she said in an e-mail.
Faculty members have been wary of (and even hostile to) the idea. David Witt, professor of family and consumer sciences at the University of Akron and past president of the Ohio Chapter of the American Association of University Professors, assailed the plan’s underlying logic and referred to it as “a sequence of non sequiturs.”
Many accused Kasich of hypocrisy. “The governor and others have continuously talked about giving public institutions of higher education more ‘flexibility’ and ‘reliev[ing] them of regulations,' then they try to pass down mandates like this,” said Sara Kaminski, executive director of the Ohio Conference of the AAUP. “It appears that we have a situation on our hands where elected and appointed officials who know very little about the inner workings of higher education are trying to make significant reforms without even consulting the group that the changes primarily affect: professors.”
Tensions between faculty members and the governor and legislature have been especially high since the State Senate passed a bill to strip professors of collective bargaining rights this month (though Kaminski stressed that the AAUP is considering each proposal on its own merits, not opposing it simply because the administration supports the union-killing bill).
Some faculty members expressed concern that Kasich’s teaching load proposal would disproportionately affect junior faculty, who are trying to fulfill teaching, research and service obligations and could find their long-term job security compromised (larger teaching loads might crowd out their research and weaken their bids for tenure). Moreover, faculty members say the elimination of collective bargaining would rob them of their best mechanism to make sure that a plan like Kasich’s would be implemented in the best way possible in each department.
“Having a faculty union is a big help in enforcing faculty development measures,” said Witt. “Without our collective bargaining contract, all that can be swept away as the contract expires.”
It is too soon to tell whether colleges in Ohio would consider lengthening their pre-probationary tenure periods, as some universities and medical schools have done recently. Ohio university and community college officials contacted for this article said they were waiting to see more detail from the governor before rendering an opinion or thinking about changing their policies.
Workloads tend to vary from campus to campus in Ohio, and even from one department to the next. At Miami University, a full teaching load was defined in 2008 as either three courses each semester, or three classes in one semester followed by two the next (both assume a three-credit hour course as the unit of measure). But a resolution reviewed by the University Senate still acknowledges the need for flexibility depending on pedagogical techniques and disciplinary requirements. “Faculty may undertake different mixes of assignments and still be rewarded for helping to fulfill Miami’s mission,” the resolution states, while adding that department chairs, program directors and deans are best equipped to balance faculty and institutional needs. “Faculty time is the university’s most precious resource."
But quantifying how that resource gets allocated, in Ohio and elsewhere, remains a troublesome task. Judging faculty member productivity solely by the number of hours spent directly with students is a common, if flawed, practice -- and can make faculty a tempting target. Linda Chavez, an appointee of President Reagan and a Fox News analyst, recently summed up this strain of conventional wisdom. Citing statistics from the U.S. Department of Labor, she described faculty members as overpaid and underworked, spending less than 24 hours per week with students and pulling down close to $80,000.
Those kinds of statistics simply distort the truth, say many professors and others. Several said that face-to-face time with students during class or office hours represents a small piece of what they do. Their jobs might begin with teaching, but often include conducting their own research, advising doctoral or master’s students on their theses, and serving on committees and other duties. Such work cannot neatly be captured on a timesheet, though some institutions, including Kean University, in New Jersey, have tried to make faculty members do so.
Even some in Ohio who have advocated against collective bargaining for faculty have echoed this argument. “As people who are inside higher ed know, professors have different responsibilities,” said Bruce Johnson, president of the Inter-University Council of Ohio, who mentioned community activities and research as other labor-intensive areas of work in which professors are likely to engage. “Getting too focused on classroom hours without understanding the full details is a mistake.”
Johnson, who has said he hatched the legal reasoning that stripped faculty members of their right to collectively bargain, added that he rejected the top-down philosophy embedded in Kasich’s workload proposal. “I don’t think that the legislature or anyone in the governor’s office should be establishing such a specific policy,” he said.
At the same time, proposals to boost the workload of professors are not new. The chancellor of the University System of Maryland, William E. (Brit) Kirwan, garnered kudos nationally for adopting an “Effectiveness and Efficiency Initiative" in 2003 that has led to $130 million in cost reductions, according to the system.
That initiative held down tuition increases, standardized credit requirements for graduation, boosted enrollment and improved academic programs, among other measures. It also streamlined administrative and human resources functions -- which many professors in Ohio would welcome. "Since most of our university presidents seem so keen on gaining additional ‘fiscal flexibility’ at our expense, I would like to see any sort of similar documentation of the substantive contributions made by upper-level university administrators either to our individual universities or to the economic vitality of our state," said Marty Kich, vice president of the AAUP at Wright State University, and a professor of English.
But the Maryland initiative also increased teaching loads by 10 percent -- with the loads measured according to department rather than by individual faculty member, so that different levels of teaching and research could be accommodated. "Even though faculty teaching loads increased 10 percent, faculty largely supported the measure, because it was focused on improving student learning," Patrick M. Callan, president of the National Center for Public Policy and Higher Education, wrote in Inside Higher Ed in 2007.
That kind of shared purpose has been lacking in Ohio, according to several AAUP representatives. “Part of the problem with the increased teaching load proposal, and other Kasich administration proposals related to higher education, is the fact that faculty have been left out of these discussions completely,” said Kaminski.
“If the governor wants faculty buy-in, he has to be willing to have a conversation with us,” she added. “But the attitude from the beginning has been ‘get on the bus or get run over.’ ”
— Dan Berrett
A proposal for Ohio’s faculty members to teach more classes has drawn fire -- even though similar plans have been attempted elsewhere successfully.
In his budget address last week, Governor John Kasich unveiled a plan that included a mandate that professors at public institutions teach one additional course every two years. While significant details remain undefined, the plan is meant to apply to all professors while also providing flexibility for administrators and controlling costs, said Connie Wehrkamp, Kasich’s deputy press secretary. She did not specify how much money the plan would save the state.
It would be left to the new chancellor of the University System of Ohio, Jim Petro, and the Board of Regents to work with colleges and universities to figure out the best way to implement the increased load. Wehrkamp noted that current workload levels result in colleges having to hire additional part-time instructors to cover gaps. The result is that universities spend more money to hire adjunct faculty while effectively denying students access to full-time professors, she said. “This change could reduce costs as well as improve students’ academic experiences,” she said in an e-mail.
Faculty members have been wary of (and even hostile to) the idea. David Witt, professor of family and consumer sciences at the University of Akron and past president of the Ohio Chapter of the American Association of University Professors, assailed the plan’s underlying logic and referred to it as “a sequence of non sequiturs.”
Many accused Kasich of hypocrisy. “The governor and others have continuously talked about giving public institutions of higher education more ‘flexibility’ and ‘reliev[ing] them of regulations,' then they try to pass down mandates like this,” said Sara Kaminski, executive director of the Ohio Conference of the AAUP. “It appears that we have a situation on our hands where elected and appointed officials who know very little about the inner workings of higher education are trying to make significant reforms without even consulting the group that the changes primarily affect: professors.”
Tensions between faculty members and the governor and legislature have been especially high since the State Senate passed a bill to strip professors of collective bargaining rights this month (though Kaminski stressed that the AAUP is considering each proposal on its own merits, not opposing it simply because the administration supports the union-killing bill).
Some faculty members expressed concern that Kasich’s teaching load proposal would disproportionately affect junior faculty, who are trying to fulfill teaching, research and service obligations and could find their long-term job security compromised (larger teaching loads might crowd out their research and weaken their bids for tenure). Moreover, faculty members say the elimination of collective bargaining would rob them of their best mechanism to make sure that a plan like Kasich’s would be implemented in the best way possible in each department.
“Having a faculty union is a big help in enforcing faculty development measures,” said Witt. “Without our collective bargaining contract, all that can be swept away as the contract expires.”
It is too soon to tell whether colleges in Ohio would consider lengthening their pre-probationary tenure periods, as some universities and medical schools have done recently. Ohio university and community college officials contacted for this article said they were waiting to see more detail from the governor before rendering an opinion or thinking about changing their policies.
Workloads tend to vary from campus to campus in Ohio, and even from one department to the next. At Miami University, a full teaching load was defined in 2008 as either three courses each semester, or three classes in one semester followed by two the next (both assume a three-credit hour course as the unit of measure). But a resolution reviewed by the University Senate still acknowledges the need for flexibility depending on pedagogical techniques and disciplinary requirements. “Faculty may undertake different mixes of assignments and still be rewarded for helping to fulfill Miami’s mission,” the resolution states, while adding that department chairs, program directors and deans are best equipped to balance faculty and institutional needs. “Faculty time is the university’s most precious resource."
But quantifying how that resource gets allocated, in Ohio and elsewhere, remains a troublesome task. Judging faculty member productivity solely by the number of hours spent directly with students is a common, if flawed, practice -- and can make faculty a tempting target. Linda Chavez, an appointee of President Reagan and a Fox News analyst, recently summed up this strain of conventional wisdom. Citing statistics from the U.S. Department of Labor, she described faculty members as overpaid and underworked, spending less than 24 hours per week with students and pulling down close to $80,000.
Those kinds of statistics simply distort the truth, say many professors and others. Several said that face-to-face time with students during class or office hours represents a small piece of what they do. Their jobs might begin with teaching, but often include conducting their own research, advising doctoral or master’s students on their theses, and serving on committees and other duties. Such work cannot neatly be captured on a timesheet, though some institutions, including Kean University, in New Jersey, have tried to make faculty members do so.
Even some in Ohio who have advocated against collective bargaining for faculty have echoed this argument. “As people who are inside higher ed know, professors have different responsibilities,” said Bruce Johnson, president of the Inter-University Council of Ohio, who mentioned community activities and research as other labor-intensive areas of work in which professors are likely to engage. “Getting too focused on classroom hours without understanding the full details is a mistake.”
Johnson, who has said he hatched the legal reasoning that stripped faculty members of their right to collectively bargain, added that he rejected the top-down philosophy embedded in Kasich’s workload proposal. “I don’t think that the legislature or anyone in the governor’s office should be establishing such a specific policy,” he said.
At the same time, proposals to boost the workload of professors are not new. The chancellor of the University System of Maryland, William E. (Brit) Kirwan, garnered kudos nationally for adopting an “Effectiveness and Efficiency Initiative" in 2003 that has led to $130 million in cost reductions, according to the system.
That initiative held down tuition increases, standardized credit requirements for graduation, boosted enrollment and improved academic programs, among other measures. It also streamlined administrative and human resources functions -- which many professors in Ohio would welcome. "Since most of our university presidents seem so keen on gaining additional ‘fiscal flexibility’ at our expense, I would like to see any sort of similar documentation of the substantive contributions made by upper-level university administrators either to our individual universities or to the economic vitality of our state," said Marty Kich, vice president of the AAUP at Wright State University, and a professor of English.
But the Maryland initiative also increased teaching loads by 10 percent -- with the loads measured according to department rather than by individual faculty member, so that different levels of teaching and research could be accommodated. "Even though faculty teaching loads increased 10 percent, faculty largely supported the measure, because it was focused on improving student learning," Patrick M. Callan, president of the National Center for Public Policy and Higher Education, wrote in Inside Higher Ed in 2007.
That kind of shared purpose has been lacking in Ohio, according to several AAUP representatives. “Part of the problem with the increased teaching load proposal, and other Kasich administration proposals related to higher education, is the fact that faculty have been left out of these discussions completely,” said Kaminski.
“If the governor wants faculty buy-in, he has to be willing to have a conversation with us,” she added. “But the attitude from the beginning has been ‘get on the bus or get run over.’ ”
— Dan Berrett
Tuesday, March 22, 2011
Higher Ed = Big Busine$$
March 20, 2011
$44-Billion Ought to Buy Some Accountability on Campuses
By Kevin Carey
Left unattended, the Pell Grant program will cost $44-billion next year. You could buy seven aircraft carriers with that much cash.
The Obama administration had to confront that harsh reality when it assembled its budget proposal for the 2012 fiscal year. The Pell program didn't even cross the $20-billion threshold until last year. But Congress made the grants for low-income students more generous just as the economy made a lot more students low-income and sent legions of unemployed workers back to school.
In response, the administration proposed killing a newly created Pell Grant for summer-school students. Along with other changes, that would bring the cost down to a still-record $28-billion. Newly elected Republicans in the House of Representatives, meanwhile, were in a less generous mood, proposing to slash the maximum Pell award by 15 percent—the largest cut in history.
The final disposition of Pell will be one of the most closely watched elements of the Obama vs. Republicans budget showdown. But whatever the short-term outcome, this marks the beginning of a new era of federal financing of higher education.
While the Pell program has had ups and downs since its inception, Congress has provided enough money to keep up with both inflation and a surge of new college students. Yet low-income undergraduates are actually much worse off than equivalent students were 30 years ago. A student without a Pell Grant in 1980 paid less out of pocket to attend a public four-year university than a student with a Pell Grant pays today. That's because between then and now, the cost of higher education has grown far faster than inflation.
As a result, the federal government has gone from bit player to major investor in the educational part of higher education, to the point that it's starting to rival states in the magnitude of support.
Consider that according to the Grapevine Project, Illinois State University's annual survey of state financing of higher education, states will spend $76-billion on higher education this year. Then consider the federal government's $44-billion for Pell, nearly $9-billion for the American Opportunity Tax Credit, plus student-loan interest-rate subsidies, 529-plan subsidies, and billions for the GI Bill, and suddenly the state and federal shares aren't that far apart. And if current state-budget proposals are any indication—Pennsylvania Governor Tom Corbett has proposed cutting his state's allocation for higher education in half—the state-to-federal spending ratio will continue to shrink.
Those numbers have consequences. Lawmakers are predictable people: The bigger the checks they write, the more expansive their ideas about how that money should be spent. When federal subsidies rival state spending, federal lawmakers are going to step into the policy void that state lawmakers are rapidly creating.
This new attitude is most apparent in the continuing "gainful employment" debate surrounding for-profit colleges. The University of Phoenix alone took $1-billion out of the Pell Grant program in 2009, and people noticed. Now the Obama administration wants to take the historic step of making receipt of federal financial aid contingent on colleges' proving that their graduates get sufficient economic value in exchange.
Once the government starts asking such new kinds of questions, it generally doesn't stop asking. And as Richard Arum and Josipa Roksa show in their recent study, Academically Adrift, there are many reasons to question how much value even students at nonprofit colleges receive for their tuition.
Neither party has quite come around to this way of thinking—yet. Republicans continue to favor profit-making enterprises on general principle, while Democrats don't want to admit that simply pouring more money into Pell Grants is like dumping more frankfurters on the plate of four-time world hot-dog-eating champion Joey (Jaws) Chestnut.
Such old ways of thinking can be hard to break. It takes a shock, something un-ignorable. Something like $44-billion.
Fortunately, students could greatly benefit from the inevitable new federal role in higher education. Fractured policy among the 50 states, whose public universities exert outsized influence, has resulted in a kind of nonsystem in which colleges and universities aren't held accountable in any meaningful way for how well they educate their students. As the federal government grows into its role as the public-higher-education-financing body of first resort, it should demand far more transparency about learning results from colleges in exchange.
It should also modernize the Pell program to account for different patterns of student attendance. The summer Pell program was a good, albeit very expensive, idea. Some students move through college faster than the traditional four-year calendar, and some slower. Pell does a poor job of accommodating those differences. The rapid growth of online higher education is rendering the time-based, credit-hour-focused concept of attendance obsolete. Financial aid shouldn't force students to fit into an increasingly archaic mold.
The federal government should also start insisting that institutions that receive public subsidies truly serve the public interest. The hard truth is that the colleges that receive the most Pell money per capita are often those that fail to graduate a large majority of their students—not only because the students are hard to serve, but also because the institutions themselves are mismanaged and mediocre. Colleges that are unwilling or unable to help a reasonable percentage of Pell Grant students earn degrees and learn things worth knowing should be shut out of the program, regardless of their accreditation status or academic reputation.
Such ideas have been heresy in the halls of Congress until recently. But you'd be amazed what you can buy these days with $44-billion and change.
Kevin Carey is policy director of Education Section, an independent think tank in Washington
Thursday, March 17, 2011
BEWARE of Oline GED exams
Truth About GED® Testing Online
From the people who create the GED Tests: GED Testing Service®
The GED Tests cannot be taken online.
If you take a test on the Internet that claims to be the GED Tests, it is not a legitimate program. Some people may find out later that it is an alternative diploma or that it is a diploma mill. Do your research before spending any money, and use the resources below to find out more.
Check Your School or Program for Accreditation
The GED Tests and GED credential have been administered by the Department of Education in each of the 50 U.S. states since 1974.
Accreditation means that an educational program at a school meets certain levels of quality. Each state uses accrediting agencies to review educational programs and determine if the levels are met.
Check your school's accrediting agency and make sure it is on the list of authorized accrediting agencies posted by your state department of education.
Contact Colleges and Employers to Confirm They Will Accept Your Credential
The GED credential is accepted by 98% of colleges and universities and 96% of employers as equivalent to a high school diploma for admissions and hiring.
Call the admissions office of college or university you want to attend and ask if they will accept your credential (certificate or diploma) for admissions. Online programs may test different skills and knowledge than what colleges and universities require.
Contact the employer you want to work for and ask if they will accept your credential (certificate or diploma) for employment.
From the American Council on Education www.acenet.edu
From the people who create the GED Tests: GED Testing Service®
The GED Tests cannot be taken online.
If you take a test on the Internet that claims to be the GED Tests, it is not a legitimate program. Some people may find out later that it is an alternative diploma or that it is a diploma mill. Do your research before spending any money, and use the resources below to find out more.
Check Your School or Program for Accreditation
The GED Tests and GED credential have been administered by the Department of Education in each of the 50 U.S. states since 1974.
Accreditation means that an educational program at a school meets certain levels of quality. Each state uses accrediting agencies to review educational programs and determine if the levels are met.
Check your school's accrediting agency and make sure it is on the list of authorized accrediting agencies posted by your state department of education.
Contact Colleges and Employers to Confirm They Will Accept Your Credential
The GED credential is accepted by 98% of colleges and universities and 96% of employers as equivalent to a high school diploma for admissions and hiring.
Call the admissions office of college or university you want to attend and ask if they will accept your credential (certificate or diploma) for admissions. Online programs may test different skills and knowledge than what colleges and universities require.
Contact the employer you want to work for and ask if they will accept your credential (certificate or diploma) for employment.
From the American Council on Education www.acenet.edu
ADULT STUDENTS
HigherEd Careers
Is the Adult Student the New 'Traditional' Student?
There are many varying definitions of the terms adult learner and non-traditional student. A fact that can be agreed on, however, is that the number of students falling into these categories has been on the rise over the past several years and at most institutions, this demographic outweighs the number of traditional students who enter directly after high school. Are colleges and universities recognizing this change, and what are staff and faculty doing to help adult learners and all students succeed with the increasing pressures of balancing personal and academic lives? In this month's HEC interview, we are fortunate to have Dr. Karen Haley, assistant professor in Adult and Higher Education at Northern Illinois University share her thoughts on the topic of the adult learner.
http://www.higheredjobs.com/HigherEdCareers/interviews.cfm?ID=266
Is the Adult Student the New 'Traditional' Student?
There are many varying definitions of the terms adult learner and non-traditional student. A fact that can be agreed on, however, is that the number of students falling into these categories has been on the rise over the past several years and at most institutions, this demographic outweighs the number of traditional students who enter directly after high school. Are colleges and universities recognizing this change, and what are staff and faculty doing to help adult learners and all students succeed with the increasing pressures of balancing personal and academic lives? In this month's HEC interview, we are fortunate to have Dr. Karen Haley, assistant professor in Adult and Higher Education at Northern Illinois University share her thoughts on the topic of the adult learner.
http://www.higheredjobs.com/HigherEdCareers/interviews.cfm?ID=266
Tuesday, March 15, 2011
PRIVATE SCHOLARSHIPS
If you completed the FAFSA and Pell and loans are not enough, you'll have to put in some work for search for merit-based scholarship. You have to watch the deadlines and you may have to put in some work (like writing an essay) but if you get money for college it's more than worh it.
Here are some links to scholarships for minorities & women
Actuarial Scholarships for Minority Students
Provide scholarships at the undergraduate or graduate level for certain minority students who are interested in pursuing actuarial careers.
www.beanactuary.org/minority/
AICPA Scholarship for Minority Accounting Students
Provides awards to outstanding minority students to encourage their selection of accounting as a major and their ultimate entry into the profession.
www.aicpa.org
Alpha Kappa Alpha Educational Advancement Scholarship
Created to fill a void in education funding. Its mission is to provide financial support to individuals and organizations engaged in lifelong learning.
www.akaeaf.org
American Political Science Assoc. Minority Fellows Program
Assists minority students in completing their doctorates by concentrating not only on the recruitment of minorities, but also on the retention of these groups within the profession.
www.apsanet.org/section_427.cfm
Caribbean Tourism Organization Scholarship
Provides opportunities for Caribbean nationals to pursue studies in the areas of tourism, hospitality and language training.
www.onecaribbean.org
Development Fund for Black Students in Science/Tech
An endowment fund which provides scholarships to African-American undergraduate students enrolled in scientific or technical fields of study at Historically Black Colleges and Universities (HBCUs).
http://dfbsst.dlhjr.com
“Dream Deferred” Essay Contest on Civil Rights
This essay contest takes its title from a 1951 poem by Langston Hughes: What Happens to a Dream Deferred? The poem helped propel the civil rights movement in the United States.
www.hamsaweb.org/essay/
Education is Freedom National Scholarship
Provides college scholarships in the amount of $2,000 to high school seniors that have high GPAs, are active in the community, and have a financial need.
www.educationisfreedom.com
Emma L. Bowen Foundation For Minority Interests In Media
A non-profit organization whose mission is to create career opportunities in the media industry for minority youth through a program that focuses on scholastic achievement, direct work experience and professional development.
www.emmabowenfoundation.com
Ethnic Minority and Women's Enhancement Scholarship
The goal of the enhancement programs is to increase the pool of and opportunities for qualified minority and female candidates in intercollegiate athletics through postgraduate scholarships.
www1.ncaa.org
Girls Going Places Entrepreneurship Scholarship Program
Girls Going Places® Entrepreneurship Award Program is Guardian's annual initiative designed to reward the enterprising spirits of girls ages 12 to 18.
www.guardianlife.com
Go On Girl Book Club Scholarships
$500 scholarship available to women and girls who have a passion for writing. Offers two scholarship including the Unpublished Writer's Award and Aspiring Writers Educational Scholarship.
www.goongirl.org/Events/scholarship
HBCU Study Abroad Scholarships
$2,000 award for a student who attends a black college who's interested in studying in another country through an exchange program.
www.iesabroad.org
Helen T. Carr Fellowship Program
Supports and strengthens Black colleges as a major resource of African-American engineering graduates.
www.asee.org
HIV/AIDS Story Writing Contest
A contest open to all youth between the ages of 14 and 22. Must write a story featuring a character with HIV.
www.hearmeproject.org
Hurston/Wright Award for College Writers
Established by novelist Marita Golden to honor excellence in fiction writing by students of African descent enrolled full time as an undergraduate or graduate student in any college or university in the United States.
www.hurston-wright.org
Jack and Jill of America Foundation Scholarship
This scholarship is for African American high school seniors with a minimum grade point average of 3.0 who will be pursuing a Bachelor's degree at any accredited post-secondary institution in the United States.
www.jackandjillfoundation.org
Jeanette Rankin Foundation Grants For Low-Income Women
A non-profit organization dedicated to raising funds for, and awarding scholarships to, low-income women, ages 35 and older.
www.rankinfoundation.org
Luster Products Cosmetology Scholarship
Awards scholarships to cosmetology students and college-bound high school students. Dedicated to providing scholarships and promoting entrepreneurship among the best and brightest African-American college students.
www.lusterproducts.com/scholarships.htm
Mercer’s Diversity Scholarship Program
The purpose of the scholarship is to recognize achievement in scholastics, leadership potential and initiative among minority students.
www.mercerhr.com/diversityscholarship
Miller Urban Entrepreneurs Series Business Plan Competition
The award-winning Miller Urban Entrepreneurs Series was launched to respond to the needs of adults ages 21 and older seeking to achieve economic empowerment through entrepreneurship.
www.millerurbanentrepreneurs.com
Minority Dental Student Scholarship
Award for minority students who are U.S. citiziens and are interested in pursuing a career as a dentist.
www.ada.org
NAFEO "Writers of Passage" Essay Competition
The Sallie Mae Fund and the National Association for Equal Opportunity in Higher Education (NAFEO) have created the "Writers of Passage" Essay Competition.
www.nafeo.org/wop_2008.php
National Association of Black Accountants Scholarship
Has provided more than $7.1 million in scholarship funds to deserving students preparing to enter various business professions.
www.nabainc.org
National Fellowship of Black College Leaders Scholarship
Strengthens and supports Black student leaders at historically black colleges and universities by fostering and preserving positive relationships through scholarships and mentoring opportunities.
www.nfbcl.org
Nelly's P.I.M.P Scholarship Contest
Scholarship essay contest presented by rapper and Hip-Hop artist Nelly, who owns an energy drink called Pimp Juice.
www.letitloose.com
Paul Zindel First Novel Award
Students must submit an original work of fiction that is between 100 and 240 typewritten pages and is appropriate for an audience of children ages 8 to 12.
www.hyperionbooksforchildren.com
Porter Physiology Fellowships for Minorities
Designed to support the training of talented students entering careers in physiology by providing predoctoral fellowships for underrepresented students.
www.the-aps.org/awards/student.htm
Ron Brown Scholar Program
Administers more than 300 scholarship, fellowship and institutional grants that support students at the undergraduate, graduate and doctoral levels.
www.uncf.org
Ronald Reagan College Leaders Scholarship
The scholarships are designed to alleviate the financial burdens associated with higher education, permitting the winners to devote more time both to pursuing their academic goals and advancing their leadership initiatives.
www.thephillipsfoundation.org
Royce Osborn Minority Student Scholarship
The ASRT Education and Research Foundation Royce Osborn Minority Student Scholarship program provides scholarships for academically out-standing, minority students attending an entry-level radiologic sciences program.
www.asrt.org
Sir John M. Templeton Fellowships Essay Contest
Encourages college students and young college professors around the world to study the meaning and significance of economic and personal liberty.
www.independent.org/students/essay
Special Libraries Association Affirmative Action Scholarship
For graduate study in librarianship leading to a master's degree at a recognized school of library or information science.
www.sla.org
Talbots Women's Scholarship Fund
Talbots Women's Scholarship Fund, a program of the Talbots Charitable Foundation, will award $100,000 in scholarships to women determined to finally get that college degree.
www1.talbots.com/about/scholar/
Thurgood Marshall Scholarship Fund
The premier organization in Black Higher Education that develops and prepares a new generation of leaders by providing resources, opportunities and advocacy to Public Historically Black Colleges & Universities, students and alumni.
www.thurgoodmarshallfund.org
Tri-Delta Undergraduate and Graduate Scholarships
The Tri Delta Foundation offers undergraduate and graduate scholarships to collegians and alumnae each year.
www.tridelta.org
William Randolph Hearst Endowed Fellowship For Minorities
Based on academic excellence and need, is open to both undergraduate and graduate students who are members of minority groups.
www.apsanet.org/content_11389.cfm
Xerox Technical Minority Scholarship Program
Commitment to the academic success of minority students and to the cultivation and recruitment of qualified minority employees in technical fields.
www.xerox.com
Here are some links to scholarships for minorities & women
Actuarial Scholarships for Minority Students
Provide scholarships at the undergraduate or graduate level for certain minority students who are interested in pursuing actuarial careers.
www.beanactuary.org/minority/
AICPA Scholarship for Minority Accounting Students
Provides awards to outstanding minority students to encourage their selection of accounting as a major and their ultimate entry into the profession.
www.aicpa.org
Alpha Kappa Alpha Educational Advancement Scholarship
Created to fill a void in education funding. Its mission is to provide financial support to individuals and organizations engaged in lifelong learning.
www.akaeaf.org
American Political Science Assoc. Minority Fellows Program
Assists minority students in completing their doctorates by concentrating not only on the recruitment of minorities, but also on the retention of these groups within the profession.
www.apsanet.org/section_427.cfm
Caribbean Tourism Organization Scholarship
Provides opportunities for Caribbean nationals to pursue studies in the areas of tourism, hospitality and language training.
www.onecaribbean.org
Development Fund for Black Students in Science/Tech
An endowment fund which provides scholarships to African-American undergraduate students enrolled in scientific or technical fields of study at Historically Black Colleges and Universities (HBCUs).
http://dfbsst.dlhjr.com
“Dream Deferred” Essay Contest on Civil Rights
This essay contest takes its title from a 1951 poem by Langston Hughes: What Happens to a Dream Deferred? The poem helped propel the civil rights movement in the United States.
www.hamsaweb.org/essay/
Education is Freedom National Scholarship
Provides college scholarships in the amount of $2,000 to high school seniors that have high GPAs, are active in the community, and have a financial need.
www.educationisfreedom.com
Emma L. Bowen Foundation For Minority Interests In Media
A non-profit organization whose mission is to create career opportunities in the media industry for minority youth through a program that focuses on scholastic achievement, direct work experience and professional development.
www.emmabowenfoundation.com
Ethnic Minority and Women's Enhancement Scholarship
The goal of the enhancement programs is to increase the pool of and opportunities for qualified minority and female candidates in intercollegiate athletics through postgraduate scholarships.
www1.ncaa.org
Girls Going Places Entrepreneurship Scholarship Program
Girls Going Places® Entrepreneurship Award Program is Guardian's annual initiative designed to reward the enterprising spirits of girls ages 12 to 18.
www.guardianlife.com
Go On Girl Book Club Scholarships
$500 scholarship available to women and girls who have a passion for writing. Offers two scholarship including the Unpublished Writer's Award and Aspiring Writers Educational Scholarship.
www.goongirl.org/Events/scholarship
HBCU Study Abroad Scholarships
$2,000 award for a student who attends a black college who's interested in studying in another country through an exchange program.
www.iesabroad.org
Helen T. Carr Fellowship Program
Supports and strengthens Black colleges as a major resource of African-American engineering graduates.
www.asee.org
HIV/AIDS Story Writing Contest
A contest open to all youth between the ages of 14 and 22. Must write a story featuring a character with HIV.
www.hearmeproject.org
Hurston/Wright Award for College Writers
Established by novelist Marita Golden to honor excellence in fiction writing by students of African descent enrolled full time as an undergraduate or graduate student in any college or university in the United States.
www.hurston-wright.org
Jack and Jill of America Foundation Scholarship
This scholarship is for African American high school seniors with a minimum grade point average of 3.0 who will be pursuing a Bachelor's degree at any accredited post-secondary institution in the United States.
www.jackandjillfoundation.org
Jeanette Rankin Foundation Grants For Low-Income Women
A non-profit organization dedicated to raising funds for, and awarding scholarships to, low-income women, ages 35 and older.
www.rankinfoundation.org
Luster Products Cosmetology Scholarship
Awards scholarships to cosmetology students and college-bound high school students. Dedicated to providing scholarships and promoting entrepreneurship among the best and brightest African-American college students.
www.lusterproducts.com/scholarships.htm
Mercer’s Diversity Scholarship Program
The purpose of the scholarship is to recognize achievement in scholastics, leadership potential and initiative among minority students.
www.mercerhr.com/diversityscholarship
Miller Urban Entrepreneurs Series Business Plan Competition
The award-winning Miller Urban Entrepreneurs Series was launched to respond to the needs of adults ages 21 and older seeking to achieve economic empowerment through entrepreneurship.
www.millerurbanentrepreneurs.com
Minority Dental Student Scholarship
Award for minority students who are U.S. citiziens and are interested in pursuing a career as a dentist.
www.ada.org
NAFEO "Writers of Passage" Essay Competition
The Sallie Mae Fund and the National Association for Equal Opportunity in Higher Education (NAFEO) have created the "Writers of Passage" Essay Competition.
www.nafeo.org/wop_2008.php
National Association of Black Accountants Scholarship
Has provided more than $7.1 million in scholarship funds to deserving students preparing to enter various business professions.
www.nabainc.org
National Fellowship of Black College Leaders Scholarship
Strengthens and supports Black student leaders at historically black colleges and universities by fostering and preserving positive relationships through scholarships and mentoring opportunities.
www.nfbcl.org
Nelly's P.I.M.P Scholarship Contest
Scholarship essay contest presented by rapper and Hip-Hop artist Nelly, who owns an energy drink called Pimp Juice.
www.letitloose.com
Paul Zindel First Novel Award
Students must submit an original work of fiction that is between 100 and 240 typewritten pages and is appropriate for an audience of children ages 8 to 12.
www.hyperionbooksforchildren.com
Porter Physiology Fellowships for Minorities
Designed to support the training of talented students entering careers in physiology by providing predoctoral fellowships for underrepresented students.
www.the-aps.org/awards/student.htm
Ron Brown Scholar Program
Administers more than 300 scholarship, fellowship and institutional grants that support students at the undergraduate, graduate and doctoral levels.
www.uncf.org
Ronald Reagan College Leaders Scholarship
The scholarships are designed to alleviate the financial burdens associated with higher education, permitting the winners to devote more time both to pursuing their academic goals and advancing their leadership initiatives.
www.thephillipsfoundation.org
Royce Osborn Minority Student Scholarship
The ASRT Education and Research Foundation Royce Osborn Minority Student Scholarship program provides scholarships for academically out-standing, minority students attending an entry-level radiologic sciences program.
www.asrt.org
Sir John M. Templeton Fellowships Essay Contest
Encourages college students and young college professors around the world to study the meaning and significance of economic and personal liberty.
www.independent.org/students/essay
Special Libraries Association Affirmative Action Scholarship
For graduate study in librarianship leading to a master's degree at a recognized school of library or information science.
www.sla.org
Talbots Women's Scholarship Fund
Talbots Women's Scholarship Fund, a program of the Talbots Charitable Foundation, will award $100,000 in scholarships to women determined to finally get that college degree.
www1.talbots.com/about/scholar/
Thurgood Marshall Scholarship Fund
The premier organization in Black Higher Education that develops and prepares a new generation of leaders by providing resources, opportunities and advocacy to Public Historically Black Colleges & Universities, students and alumni.
www.thurgoodmarshallfund.org
Tri-Delta Undergraduate and Graduate Scholarships
The Tri Delta Foundation offers undergraduate and graduate scholarships to collegians and alumnae each year.
www.tridelta.org
William Randolph Hearst Endowed Fellowship For Minorities
Based on academic excellence and need, is open to both undergraduate and graduate students who are members of minority groups.
www.apsanet.org/content_11389.cfm
Xerox Technical Minority Scholarship Program
Commitment to the academic success of minority students and to the cultivation and recruitment of qualified minority employees in technical fields.
www.xerox.com
Thursday, March 10, 2011
Chancellor University maintains its accreditation
Chancellor University maintains its accreditation
By TIMOTHY MAGAW
8:10 pm, March 8, 2011
After months of uncertainty about its future, Chancellor University in Cleveland announced today it has maintained its accreditation.
The Higher Learning Commission in Chicago — the accrediting body for the for-profit institution — issued Chancellor a “show-cause” order in February 2010, which gave the university almost a year to show it's deserving of continued accreditation. The commission questioned whether Chancellor met accreditation criteria related to board governance, finances and assessment of student learning.
Losing accreditation could have been a potential death knell for the institution formerly known as Myers University, which also had struggled financially and nearly closed on previous occasions. Without accreditation, the university's students couldn't receive federal financial aid.
The Higher Learning Commission instituted a review process that gave the school several months to improve its operations and finances. That process culminated in the decision to remove Chancellor from show-cause status.
In a prepared statement, Chancellor president Robert C. Daugherty said that while the past several months "have been challenging, we have never wavered in our focus on adhering to our values to attain our educational goals."
"Our students, faculty and staff remained committed to and supportive of this historic institution through months of long hours and hard work under uncertain and difficult conditions," Mr. Daugherty said.
The prepared statement did not go into any detail about Chancellor's future plans. However, the school previously has disclosed plans to move from its location at East 40th Street and Chester Avenue in Cleveland's Midtown area to a site with more space and parking.
Chancellor officials haven't signaled where they might relocate, but a source told Crain's in August the college was looking at office buildings in the suburbs near highway interchanges — a popular locale among those in the for-profit education sector. Chancellor is leasing its current home from the Cleveland-Cuyahoga County Port Authority for $17,179 a month through June, according to Brent Leslie, chief financial officer for the port authority.
A key to Chancellor's success is likely its online graduate business program that launched early last year. The highly publicized degree program is driven by former General Electric Co. CEO Jack Welch, who also invested in the for-profit college. The program was announced in June 2009 but was put on hold when Mr. Welch was admitted to the hospital for a rare spine infection.
The degree program has received a significant amount of media coverage, with Mr. Welch last fall awarding a contestant on the NBC reality show “The Apprentice” with a two-year scholarship to the program.
By TIMOTHY MAGAW
8:10 pm, March 8, 2011
After months of uncertainty about its future, Chancellor University in Cleveland announced today it has maintained its accreditation.
The Higher Learning Commission in Chicago — the accrediting body for the for-profit institution — issued Chancellor a “show-cause” order in February 2010, which gave the university almost a year to show it's deserving of continued accreditation. The commission questioned whether Chancellor met accreditation criteria related to board governance, finances and assessment of student learning.
Losing accreditation could have been a potential death knell for the institution formerly known as Myers University, which also had struggled financially and nearly closed on previous occasions. Without accreditation, the university's students couldn't receive federal financial aid.
The Higher Learning Commission instituted a review process that gave the school several months to improve its operations and finances. That process culminated in the decision to remove Chancellor from show-cause status.
In a prepared statement, Chancellor president Robert C. Daugherty said that while the past several months "have been challenging, we have never wavered in our focus on adhering to our values to attain our educational goals."
"Our students, faculty and staff remained committed to and supportive of this historic institution through months of long hours and hard work under uncertain and difficult conditions," Mr. Daugherty said.
The prepared statement did not go into any detail about Chancellor's future plans. However, the school previously has disclosed plans to move from its location at East 40th Street and Chester Avenue in Cleveland's Midtown area to a site with more space and parking.
Chancellor officials haven't signaled where they might relocate, but a source told Crain's in August the college was looking at office buildings in the suburbs near highway interchanges — a popular locale among those in the for-profit education sector. Chancellor is leasing its current home from the Cleveland-Cuyahoga County Port Authority for $17,179 a month through June, according to Brent Leslie, chief financial officer for the port authority.
A key to Chancellor's success is likely its online graduate business program that launched early last year. The highly publicized degree program is driven by former General Electric Co. CEO Jack Welch, who also invested in the for-profit college. The program was announced in June 2009 but was put on hold when Mr. Welch was admitted to the hospital for a rare spine infection.
The degree program has received a significant amount of media coverage, with Mr. Welch last fall awarding a contestant on the NBC reality show “The Apprentice” with a two-year scholarship to the program.
Linda Bluso to head Baldwin-Wallace College's division of business administration
By TIMOTHY MAGAW
2:28 pm, March 10, 2011
Linda L. Bluso, partner-in-charge for the Cleveland office of Brouse McDowell, will take over as head of Baldwin-Wallace College's division of business administration — one of the largest programs of its kind in the state.
Ms. Bluso starts at Baldwin-Wallace April 1, but will continue to be of counsel with Brouse McDowell. She has served as partner-in-charge in Cleveland for the last five years. Ms Bluso has specialized in corporate counseling, joint ventures, venture capital, construction, mergers and acquisitions and dispute resolution.
“She is the ideal person to build upon the distinctive combination of high-quality instruction and practical application that marks the student experience here and to help expand our institutional engagement with the business community in Northeast Ohio,” said Mary Lou Higgerson, vice president for academic affairs, in a news release.
Baldwin-Wallace has about 650 undergraduate business majors and 500 MBA students.
“I'm looking forward to using the skills of a lawyer in this new setting,” Ms. Bluso said in the release. “And, I am very excited about the upcoming opportunities to make a difference in the lives of students at this fine college and to help them be more fully engaged with the business community."
Jeffrey Heintz, managing partner at Brouse McDowell, said Joseph Dattilo will take over the role of partner-in-charge at the law firm. Mr. Dattilo has been a partner at the firm for more than 10 years.
2:28 pm, March 10, 2011
Linda L. Bluso, partner-in-charge for the Cleveland office of Brouse McDowell, will take over as head of Baldwin-Wallace College's division of business administration — one of the largest programs of its kind in the state.
Ms. Bluso starts at Baldwin-Wallace April 1, but will continue to be of counsel with Brouse McDowell. She has served as partner-in-charge in Cleveland for the last five years. Ms Bluso has specialized in corporate counseling, joint ventures, venture capital, construction, mergers and acquisitions and dispute resolution.
“She is the ideal person to build upon the distinctive combination of high-quality instruction and practical application that marks the student experience here and to help expand our institutional engagement with the business community in Northeast Ohio,” said Mary Lou Higgerson, vice president for academic affairs, in a news release.
Baldwin-Wallace has about 650 undergraduate business majors and 500 MBA students.
“I'm looking forward to using the skills of a lawyer in this new setting,” Ms. Bluso said in the release. “And, I am very excited about the upcoming opportunities to make a difference in the lives of students at this fine college and to help them be more fully engaged with the business community."
Jeffrey Heintz, managing partner at Brouse McDowell, said Joseph Dattilo will take over the role of partner-in-charge at the law firm. Mr. Dattilo has been a partner at the firm for more than 10 years.
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