Blog

by Paulina Mis

It’s been a long year for colleges across the nation. Aside from the student lender and college study abroad fiascos, investigators are looking more closely at the handling of endowments by colleges.

According to The Chronicle of Higher Education, many schools have accumulated large endowment funds, some in excess of $1 billion. This is tax-free money, and if investments are well-planned, interest will lead to annual gains.

Despite this, college tuition rates have soared across the country, and students are increasingly left with debts that sometimes mirror mortgages. A proposal that could allay this problem involves forcing schools with large endowments to spend about 5 percent of their money each year, or be subject to taxes. After all, endowments are meant to aid, not hoard.

But some schools say that this is not as easy as it may seem. People who donate often leave specific instructions for endowment spending. Money may be set aside, for example, for students who are financially needy and epileptic, or for those who conduct research in the hearing sciences.

Based on the written testimony of four higher education associations, the American Council on Education, the Association of American Universities, the National Association of Independent Colleges and Universities and the National Association of State Universities and Land-Grant Colleges, proposed legislation is based on inaccurate college endowment information.

According to the testimony, an average of 80 percent of endowment assets were restricted at public institutions in 2006, and 55 percent were restricted at private ones. That, of course, still leaves plenty of unrestricted funds that could be used to greatly relieve student needs. This, by the way, is what higher education associations already claim to do.

The issue is a bit of a slippery slope. Endowments could diminish if expenditure choices were left up to college officials. Plus, available money doesn’t necessarily translate into swimming pools of cash for directors to dive into. 

Then again, tuition is getting out of hand, and storing large amounts of money when students have little choice but to take out excessive loans seems a bit immoral. Perhaps additional information is needed on unrestricted money expenditures and on how much is needed to maintain interest that would keep funds afloat.

by Emily

Students who are passionate about public health and also have a creative side may be interested in applying for this week's Scholarship of the Week, the Dr. Alma Adams Scholarship.  Adams Scholarships are awarded to students for their outstanding community service and use of artistic abilities to increase awareness about the toll of tobacco within underserved communities.  The awards recognize Alma Adams, a professional artist, educator, North Carolina state legislator and former board member of the American Legacy Foundation.

Up to two scholarships will be awarded each year to students who are pursuing a career related to public health and who have placed an emphasis on working with disadvantaged communities or groups that have been particularly targeted by tobacco advertising campaigns.  Adams Scholarships are awarded to students who have shown a commitment to educate members of these communities about tobacco and drug use, especially through creative campaigns.

Prize:

$10,000

Eligibility:

High school seniors and current undergraduate or graduate students planning to pursue a career in public health, health communications, social work, education, or a related field.  Applicants must demonstrate financial need and must have received a GPA of at least 3.0 in the most recent academic year.  Applicants should also have previous experience working with an underserved community, particularly working to prevent tobacco or drug use. 

by Alexis Mattera

I met many people during my undergraduate years that, upon hearing my major, had a good chuckle before informing me I was never going to make any money doing what I loved – writing. Their majors? Usually something involving business. I still giggle a little thinking of that irony: They not only picked the wrong field but the wrong school if they were concerned with raking in a hefty salary.

According to a new survey from PayScale.com, Harvey Mudd College's 2011 graduates are have the highest salary potential, beating out Princeton, Dartmouth, Harvard and Caltech. The college's potential starting median salary is $68,900 while its midcareer median salary is $126,000 yet a campus official said the school does not plan its curriculum based on salary potential. Thyra L. Briggs, vice president of admissions and financial aid, said Harvey Mudd students receive a strong math and science education wrapped in a liberal arts context, meaning students can “solve even the most demanding technical problems, but they also know how to work collaboratively, present their ideas to a broad range of audiences, and write well - traits that may distinguish them from other high-level math and science graduates." Instead of being pigeonholed into only one discipline, she said, Harvey Mudd grads leave school with an adaptability that's an asset in the working world or graduate study. Not bad!

Briggs agrees that the number one ranking is impressive but she’s more excited that more people are looking at Harvey Mudd – especially prospective students and their parents. Future college students, does this news change your opinion about Harvey Mudd? What’s more attractive to you about a college – higher earning potential upon graduation or a higher quality of education as a whole?

by Suada Kolovic

Man’s best friend today isn’t much different from its ancestors. A bone fragment suggests that almost 10,000 years ago dogs likely provided their owners with companionship, protection and oh, at times, dinner. According to researchers, University of Maine graduate student Samuel Belknap III found a bone fragment from what they are calling the earliest confirmed domesticated dog in North America. Belknap came across the fragment while analyzing a dried-out sample of human excrement unearthed in southwest Texas in the 1970s.

The discovery was made as Belknap was conducting research on the dietary habits of ancient humans who lived in the Lower Pecos region of Texas between 1,000 and 10,000 years ago. “I didn’t start out looking for the oldest dog in the New World,” he said. “I started out trying to understand human diet in southwest Texas. It so happens that this person who lived 9,400 years ago was eating dog.”

DNA analysis by Belknap and a fellow researcher confirmed that the fragment came from a dog – not a wolf, coyote or fox and a carbon-dating test put the age of the bone at 9,400 years.

by Alexis Mattera

While "Honest Barack" doesn't have quite the same ring as our 16th President’s nickname, we have to give him credit for keeping his promise to privilege spending on education and research...for the most part: Some potentially painful cuts could slice through the higher education pie relatively soon.

First, the good news. The 2012 budget blueprint reveals the maximum Pell Grant (currently set at $5,550 per year) would not be slashed by $845 as originally expected and funding will continue for financial aid programs including AmeriCorps, the Perkins Loan and Supplemental Educational Opportunity Grant Programs and academic research agencies. The Education Department's overall budget would grow by 4.3 percent in 2012 under the President's budget but despite this positive information, it won’t be all unicorns and butterflies for college students. Education Secretary Arne Duncan said the administration had to make some "tough choices" to maintain the current level of funding and compensate for future spending. For example, the department's 2012 budget calls for ending a three-year experiment allowing students to qualify for two Pell Grants in a calendar year and use this funding to attend college year-round, as well as eliminating the subsidy in which the government pays interest on graduate student loans while the students are in school; the Leveraging Educational Assistance Partnership Program, the Byrd Honors Scholarships and the TEACH Grant program would also be eliminated.

Obama said, "Education is an investment that we need to win the future...and to make sure that we can afford these investments, we’re going to have to get serious about cutting back on those things that would be nice to have but we can do without," but student advocates, like Justin Draeger, president of the National Association of Student Financial Aid Administrators, were quick to show their displeasure. "It is regrettable that the administration is proposing to maintain Pell by making cuts to other student aid programs that provide much needed funds to students," he said.

The information above merely scratches the surface (check out Inside Higher Ed’s article for all details) but it’s enough to get the conversation started. What do you think of the proposed budget? Will the changes impact your ability to pay for school? Would you propose a different course of action?

by Mariah Proctor

When people hear I’m getting ready to leave on my third study abroad, there are no questions asked – just resentful looks that say ‘Well, aren’t you the cultured little rich girl.’ Okay, maybe the looks aren’t that venomous but the idea holds true. If you are considering studying abroad but think you can’t afford it, listen up: You can.

My first study abroad was paid for in the way many people pay for a pilgrimage to the Holy Land: through money left by my grandparents. There was something tender about imagining my grandfather working hard as a schoolteacher and saving every penny – pennies that would one day take me to Jerusalem. But the inheritance-type funds had run dry when I was asked to go to Southeast Asia for a summer, so my second study abroad saw a more creative, financial-finagling me.

The first step in paying for a semester of international intrigue is finding funding from your home institution. Most international study programs have discount or program-specific scholarships. Also, make sure you fill out the FAFSA to get a Pell grant if you’re eligible. Not everyone knows those government pick-me-ups can be applied to international study...but now you do. Go after one!

There are study abroad-specific scholarships all over the Internet (Scholarships.com is rich with financial opportunities that can be applied). The Phi Kappa Phi Study Abroad Scholarship and the Benjamin A. Gilman Scholarship are two of the most well-known sources of study abroad funding, plus oodles of country-specific and area of study specific-grants.

If you are persistent about diversifying your sources of funding, studying abroad can be less expensive than staying on campus. The most important thing is not to let the cost of a plane ticket or the dollar-to-euro exchange rate scare you away from what will be a fulfilling experiences in your young life. There’s no rule that says only rich kids can travel; if you dream of pyramids or tropical breezes, stop dreaming and start doing. Bonus: Studying abroad provides rich material for grad school application essays.

Mariah Proctor is a senior at Brigham Young University studying theatre arts and German studies. She is a habitual globe-trotter and enjoys acoustic guitar, sunshine and elephant whispering. Once the undergraduate era of her life comes to an end, she plans to perhaps seek a graduate degree in film and television production or go straight to pounding the pavement as an actor and getting used to the sound of slammed doors. Writing has and always will be the constant in her whirlwind life story.

by Thomas Lee

My name is Thomas Lee and I am a recent graduate of Methodist University with a BA in political science and journalism. I chose Methodist because it had the distinction of being both a university and a private school. When I first arrived at Methodist for the campus tour, I found the atmosphere very inviting. The campus was located next to a golf course near a tranquil river and most of the classrooms and dorms were within reasonable walking distance.

I chose political science as my focus because of my passion for political debate and the inner workings of government. I selected journalism as a second major so that I could write for a newspaper in case a career in politics didn’t work out. I plan to attend law school in the fall and am leaning strongly toward becoming a civil attorney. Eventually, I plan to run for political office.

During college, much of my spare time was spent participating in weekly Bible studies as part of Campus Crusade for Christ, serving as one of the Founding Fathers of Methodist’s Kappa Sigma chapter and performing in theatrical productions. I have also been writing a series of adventure novels which I hope to finish in the near future. All in all, I had a captivating and worthwhile experience at Methodist and enjoyed college life as a whole.

As a virtual intern for Scholarships.com, I feel that I am partially fulfilling the purposes of my journalism degree and also contributing useful information to future college students. I hope that my articles will be beneficial to those who visit Scholarships.com and also give voice to the concerns of fellow students. As a Christian, I feel that God wants me to play an ethical role in the somewhat infamous fields of law and politics and writing for Scholarships.com may help accomplish this.

by Alexis Mattera

International campuses are becoming somewhat of a trend lately – NYU, Yale and Vanderbilt all have plans in the works – but the faculty at one well-known school is questioning its proposed overseas operation.

Duke University approved the first round of development for a comprehensive campus in Kunshan, China nearly a year and a half ago but educators voiced their concerns to President Richard Brodhead at a recent academic council meeting. Though the school already has an overseas presence (Duke partnered with the National University of Singapore to create a graduate medical program in 2005), faculty members said now that the campus is actually under construction, they feel they’ve been left out of the loop on matters including cost, academic freedom, Internet access and faculty involvement and buy-in. Craig Henriquez, chairman of Duke’s academic council, believes faculty members are just as apprehensive about the Kunshan campus as they would be about anything unfamiliar. “In the beginning I think most people saw it as just simply an idea,” he said. “But now that it’s all coming together, I think you’re starting to see a level of anxiety that comes with any new venture.”

To be clear, there have been some major changes to the initial proposal (check out Inside Higher Ed’s article for specifics) but Provost Peter Lange says that since “nobody has ever launched something like this before,” the school has to be “cautious and careful, but we also have to take some risks in order to learn what is possible." Do you agree with the administration or side with the faculty on this matter? Would you be interested in attending Duke’s Kunshan campus given the controversy?

by Agnes Jasinski

One California law school is being very transparent in their attempts to make their students' grades more competitive, thanks to recent revisions in their grading system. Loyola Law School in downtown Los Angeles recently announced they would be bumping students' GPAs up by one-third of a point, to align themselves with other schools in the area they feel already grade on a higher curve. Students who had an A- in a course would now receive an A, for example.

The fix may not be considered grade inflation in the traditional sense, as it involves a school-wide decision to raise the student population's GPAs and includes the full support of the administration. Grade inflation is typically less obvious, and may vary course by course. The stereotype at many of the most prestigious private colleges across the country is that once you gain admittance to such a school, you won't meet much resistance in your goal to graduate with an impressive GPA.

The situation at Loyola suggests that schools are paying more attention to their grading policies as a way to keep students from seeking out colleges where they have better potential to graduate with a higher GPA. According to an article in The Chronicle of Higher Education, the school decided to give students' GPAs a boost when it noticed many of their graduates had been entering the job market at an unfair competitive disadvantage. The change won't only affect current Loyola students, but recent graduates since 2007. The boost will make the most difference to students on the cusp of a B-average, as many employers are hesitant to consider job applicants with GPAs below that point.

Critics suggest it will make it even harder for graduates to land jobs now that the change has hit the news, as now employers know the school has artificially inflated the students' GPAs. Administrators disagree: "We're not trying to make them look better than other comparable students at other schools. We just want them to be on an even playing field," Victor J. Gold, the school's dean, said in The Chronicle. The students' class ranks will not be affected by the change.

On the other hand, professors at some schools have been faced with "quotas" that limit them in awarding a certain amount of one letter grade over another, leading some students to complain of grade deflation. This has created some discontent at Princeton University, for example, where students worry that grade inflation at nearby Ive League schools will place them at a disadvantage. (Princeton has been working to urge professors to offer grades based solely on work and merit, not outside pressures, for several years.)

by Paulina Mis

The government recognizes the dire financial circumstances of numerous undergraduate students, and slowly, steps are being taken to change things for the better. Three new federal grants have been created within the past two years, the maximum Pell Grant award has risen and interest rates on undergraduate Federal Stafford Loans will begin their gradual descent this fall. But…where does that leave graduate school students?

According the Council of Graduate Schools, the number of students seeking master’s and doctoral degrees is expected to rise by 12% between 2006 and 2014, and many of these students will need financial aid. While certain aid does not apply to graduate school students, plenty of assistance is available to those who know where to look. Here are just a few options:

Federal Aid Unfortunately, graduate school students are not eligible to receive federal grants, but federal aid in the form of federal work study and low-rate student loans (Stafford and PLUS) are still an option. And while the recently passed College Cost Reduction and Access Act will not lower loan interest rates for graduate school students, those who borrowed before July 1, 2006 will see a substantial drop in their bill. Variable interest rates on federal loans will decrease from 7.22%to 4.21 % this year.

Scholarships and Grants Numerous scholarships and non-federal grants are not just available to graduate school students, they are restricted to them. Companies and organizations frequently offer aid to graduate school students who display an interest in work that aligns with their goals. After all, these scholars can be the future innovators of their industry. To find scholarships you may be eligible to receive based on your year in school or major of interest, try conducting a free college scholarship search.

Employer Assistance Students who commit to working for a certain employer may be lucky enough to receive full or partial compensation for an additional degree. This is often the case with hospital staff, educators and employees who could help their companies profit through new skills and certifications.