Campus Progress has started a new organization, Students Over Banks.
I love organizations that advocate for students, but I must admit that I'm not sure how this organization will directly benefit them. The organization may make banks less wealthy, but there's no guarantee that the money would be transferred to help students. But it's an interesting organization nonetheless.
Friday, July 10, 2009
Thursday, July 9, 2009
Drowning In Debt
A new report on student loan debt from Kevin Carey and Erin Dillon at Education Sector, "Drowning in Debt: The Emerging Student Loan Crisis."
Tuesday, July 7, 2009
Corrupt FSA Ombudsman?
Inside Higher Ed reports today, in its article "Not So Honest Broker," that the Federal Student Aid Ombuds office (which is supposed to provide students with impartial advice) may be managed by a loan collection agency named Vangent. If true, this would be a shockingly unethical and improper relationship. Read more here.
Monday, July 6, 2009
Transfer Applications Up 30%
Great new article here from the Associated Press called "Economy sending students back home to college." Lots of students are leaving expensive private colleges and transferring to affordable public colleges close to home. Transfer applications are up an astonishing 30% at some schools.
The article notes that this move could lead to extra costs if some credits don't transfer, but public colleges are still worth a look. If your current college costs too much, transferring elsewhere might be an effective option for you.
The article notes that this move could lead to extra costs if some credits don't transfer, but public colleges are still worth a look. If your current college costs too much, transferring elsewhere might be an effective option for you.
Sunday, July 5, 2009
Chegg.com
The New York Times had an article today about Chegg.com, a website that allows you to rent textbooks.
The service sounds very intriguing, and you may find it helpful. However, there may be some drawbacks. For example, they seem to charge somewhat high prices for the rental (sometimes 50% of the full purchase price); you may be able to find better deals for purchase elsewhere; and a quick Google search has found some customer service complaints. But I recommend that you look into the service and make your own decisions about it; they may be able to save you some money.
The service sounds very intriguing, and you may find it helpful. However, there may be some drawbacks. For example, they seem to charge somewhat high prices for the rental (sometimes 50% of the full purchase price); you may be able to find better deals for purchase elsewhere; and a quick Google search has found some customer service complaints. But I recommend that you look into the service and make your own decisions about it; they may be able to save you some money.
Thursday, July 2, 2009
Going to college not about higher education; it's all about business
Found this editorial online by Lance Phillip Cordill.
I think that this editorial does an excellent job of warning students and parents about the dangers of student loans. On the other hand, I think that Mr. Cordill could have done more to analyze the role of colleges in encouraging students to borrow more than they can afford and teach financial literacy.
I think that this editorial does an excellent job of warning students and parents about the dangers of student loans. On the other hand, I think that Mr. Cordill could have done more to analyze the role of colleges in encouraging students to borrow more than they can afford and teach financial literacy.
Finding Debt a Bigger Hurdle Than Bar Exam
The New York Times has published this story here, , regarding a lawyer who overcame adversity to finish law school but is now blocked from the bar due to his $400,000 student loan debt.
There's a lot I could say here, but allow me to go with a contrarian opinion: perhaps articles like these do the student debt movement a disservice, because it is extremely rare to find someone with $400,000 in student loan debt. These kinds of articles give ammunition to those who falsely say that student loan debt should be ignored becaise it is an isolated problem, affecting few people. Perhaps we need more articles about the common everyday average student loan debt that still manages to wreck lives.
There's a lot I could say here, but allow me to go with a contrarian opinion: perhaps articles like these do the student debt movement a disservice, because it is extremely rare to find someone with $400,000 in student loan debt. These kinds of articles give ammunition to those who falsely say that student loan debt should be ignored becaise it is an isolated problem, affecting few people. Perhaps we need more articles about the common everyday average student loan debt that still manages to wreck lives.
Wednesday, July 1, 2009
The Trouble With Public Colleges
Money recently published an article about public colleges. I'm not going to link to it here, because I don't feel that it offers too much new information. Instead, I will offer these two comments:
a) Public and private colleges often both suffer from the same weaknesses, and one is not necessarily better than the other. For example, both private and public colleges tend to offer large classes and part-time instructors.
b) What really matters is what your final price will be, at any school. Some private schools offer lots of scholarships, and some public schools are very expensive. Therefore, you can apply to a few of each, and see what kinds of deals you're offered.
a) Public and private colleges often both suffer from the same weaknesses, and one is not necessarily better than the other. For example, both private and public colleges tend to offer large classes and part-time instructors.
b) What really matters is what your final price will be, at any school. Some private schools offer lots of scholarships, and some public schools are very expensive. Therefore, you can apply to a few of each, and see what kinds of deals you're offered.
Rich Harvard, Poor Harvard
The new issue of Vanity Fair includes an article about Harvard University by Nina Munk (as well as a feature called The Sad, Suffering Ivy League). A summary of the article is available here.
I have three comments on this story:
a) The article shows that Harvard is probably not any smarter than the rest of us.
b) The article supports my idea that colleges should probably be taxed. If colleges are going to obtain millions (or billions) of dollars in donations, and pay millions of dollars to their fund managers and executives, and poorly invest large portions of their money, then they don't deserve to be treated as a non-profit organization.
c) Colleges should be forced to spend more of their endowment funds on student scholarships (possibly for less wealthy students at other schools), before they piss all their money down the toilet like Harvard seems to have done here.
I have three comments on this story:
a) The article shows that Harvard is probably not any smarter than the rest of us.
b) The article supports my idea that colleges should probably be taxed. If colleges are going to obtain millions (or billions) of dollars in donations, and pay millions of dollars to their fund managers and executives, and poorly invest large portions of their money, then they don't deserve to be treated as a non-profit organization.
c) Colleges should be forced to spend more of their endowment funds on student scholarships (possibly for less wealthy students at other schools), before they piss all their money down the toilet like Harvard seems to have done here.
Thursday, June 25, 2009
80 Million Strong for Young American Jobs
A very interesting new organization has been started by Maya Enista and Matthew Segal, with the goal of preventing student debt, creating jobs for young people, and creating entreprenurial opportunities for young people. Visit their website here.
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