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Study Lists Best Returns on Investments

MIT Provides Best Bang for Your Buck

June 30, 2010

by Agnes Jasinski

You’ve seen lists ranking the “greenest” colleges, those who are the most neighborly, and the schools most concerned about the social good. The latest list released this week from PayScale Inc. ranks colleges based on their Return on Investment (ROI), a calculation they came up with by considering the cost of college against the estimated median salary of a graduate from a particular school, 30 years down the line.

The Massachusetts Institute of Technology (MIT) topped the list of schools that will give you the best return on your money, based on PayScale’s calculations. According to the ranking, you’ll get about a 12.6 percent return on your investment at MIT, or nearly $1.7 million over 30 years. In second place was the California Institute of Technology, with Harvard University coming in third. Private colleges dominated the list, with the first public university, the University of California-Berkeley, not appearing until number 16. The worst deal seemed to be public out-of-state colleges where students must pay higher tuition rates than those attending colleges in their home states. Attending a public college on in-state tuition would then be a pretty good deal.

The Chronicle of Higher Education took the list with a grain of salt, describing the limitations of the ranking. The ranking did not consider the fact that few students actually pay the sticker price of college, with a majority receiving some kind scholarship or grant support. The report also only considered those who would graduate to receive paid salaries or hourly wages, leaving out students who may be doing quite well for themselves as architects or entrepreneurs, two project-based career paths. Finally, the data used to rank the schools was limited in itself, as the information was self-reported and did not include every school.

Still, it isn’t surprising that technology schools topped the rankings this time around. Engineering degrees in particular are consistently ranked among the top 10 highest-paying college majors. Don’t be discouraged if your intended college isn’t on this list or any list, though, or if your intended major isn’t going to lead to the big bucks. Your interest in a school, program, and field of study should be considered above all else. And if you’re new to the process of narrowing down your list of college options, browse through the resources we have on choosing the right school. It’s never too early to start researching!


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by Emily

To make up for budget cuts and other difficulties caused by the recession, many state colleges, including some prestigious research universities, have begun admitting more out-of-state students, who typically pay more in tuition than in-state students. While this could make getting into a top school in your own state more challenging, this shift does present some unique opportunities. If you're starting your college search, you may want to consider applying to state colleges in neighboring states. You can get a bargain on tuition compared to private colleges, and there may even be tuition discounts and scholarship opportunities to further help you further bring down costs.

University systems and state higher education agencies offer tuition discounts for certain out-of-state students, bringing down your tuition costs to anywhere from 100% to 150% of in-state tuition: as much as a 50-75% discount on the regular out-of-state rate. High-achieving students, children of alumni, and residents of neighboring towns or states may qualify for programs at specific universities or for certain state scholarships.

If you have specific schools in mind, look to see if they offer discounts for students in your situation. Many large public universities will have some program in place to offset costs for out-of-state students. State colleges and universities near borders may also offer a discounted rate to students living just across a state line.

State-wide tuition discounts also exist. Students in Minnesota, North Dakota, South Dakota, and Wisconsin can take advantage of a wide-ranging tuition reciprocity agreement: Minnesota's public colleges and universities charge in-state tuition for students from the Dakotas and Wisconsin, and schools in those states return the favor for Minnesota residents. Minnesota also has similar agreements with Manitoba and some community colleges in Iowa.

The Southern Regional Educational Board offers the Academic Common Market for students in the southeastern United States pursuing specialized degrees at schools out-of-state. Students who qualify to participate in ACM are able to pay in-state tuition at the school they attend, provided their degree program is not offered by any colleges in their home state.

Other regional tuition exchange programs offer students a chance to go to school out-of-state at a special discounted rate. The two largest of these programs are the Western Undergraduate Exchange and the Midwest Student Exchange Program. Both allow students to attend participating state colleges for 150% of in-state tuition, and MSEP also allows students to receive a 10% discount on tuition at participating private colleges.

If you want to attend school out-of-state, you may also be able to qualify for in-state tuition by becoming a resident of the state. Check the residency requirements of the state and the school where you want to attend college--while some will not allow college students to apply for resident tuition, others happily grant residency to students. A recent article by Kim Clark in U.S. News gives some other tips for how to get in-state tuition at out-of-state schools.


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10 Universities with the Smallest Classes

by Suada Kolovic

The transition from high school to college is most evident to students when they realize they’ll no longer be coddled in cozy classes of 20 students or less. Lecture halls with 300-plus students are the norm at most major universities where classes tend to be impersonal, relationships with professors are typically nonexistent and students feel more like numbers than people. So for those who prefer a learning environment that provides back-and-forth discussion amongst students and professors, U.S. News and World Report has compiled a list of universities with the highest percentage of small classes.

According to the data, several universities with undergraduate enrollments below 3,000, as well as a few top ranked universities with larger undergraduate populations, reported that a vast majority of their classes have fewer than 20 students. Check out the top 10 universities with the smallest class sizes below. (For more information on the survey, click here.)

  1. New School
  2. Golden Gate University
  3. Harvard University
  4. Immaculata University
  5. Nova Southeastern University
  6. Yale University
  7. Columbia University
  8. University of Chicago
  9. SUNY College of Environmental Science and Forestry
  10. University of La Verne

How important is class size to you? Are large lectures deal breakers in your book?


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Scholarships.com Virtual Intern Jacquelene Bennett

by Jacquelene Bennett

Here is a bit of advice for all you graduating high school seniors: Save your test scores!

All that time and money you spent on the SATs, ACTs and APs and all those other acronymonous tests are not for naught! Besides being a tool for college admittance, these tests will actually benefit you later on in your college career. I know...crazy, right? All that time spent studying vocabulary, major historical dates and algebraic equations was actually worth it in the long run!

I know from personal experience: My SAT I scores on the writing and reading comprehension sections (good but not great scores, mind you) exempted me from a general requirement writing class. While your SAT scores are generally used for assessing your placement within a university, these scores can sometimes aid your college in placing you in the proper introductory classes or can waive your gen eds entirely (though every school is different so check with the registrar).

For those of you who took AP classes and did well on the final AP tests, scores of three or higher usually exempt you from certain college courses. I have a friend who didn’t have to take any history, science or foreign language gen eds because her AP scores were accepted in lieu of taking these classes. Pretty cool!

So, like I said before, save those scores! And for those you who are still undergoing this standardized testing process, do your best on them – they could save you from the headache of having to take a 100-level English class later on.

Jacquelene Bennett is a rising senior at the University of Redlands where her areas of study are creative writing, government and religious studies. When she is not studying or working, you can usually find her eating frozen yogurt or blogging about her day. She has a cactus named Kat and believes that Stephen Colbert is a genius. Jacquelene works hard, laughs hard and knows that one day you’ll see her name in lights.


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by Agnes Jasinski

Community colleges have gotten quite a bit of attention lately as legislators and even President Obama himself have billed the schools as an important bridge in improving higher education across the country. The traditionally two-year schools have also seen an influx of students as both a result of those efforts and the economy, with more adult students returning to college to pick up new skills and make themselves more competitive on the job market.

But it isn’t just associate’s degrees being awarded at community colleges anymore. As some of the schools have begun offering accelerated options, others are going the other way, expanding their four-year offerings with baccalaureate degrees in disciplines that had been typically found only at four-year universities.

A recent article in Inside Higher Ed took a look at Florida, where the trend is most obvious. The state’s community colleges now offer more than 100 four-year degrees, and are on track to offer more. In 2008, 10 out of 28 community colleges offered 70 four-year degrees; today, 18 of the schools offer 111 of the degrees, according to the article. While many of the degrees cover nursing and education, the two disciplines even neighboring four-year colleges said they needed help with due to high demand, community colleges are also expanding into other fields of study, such as international business and interior design.

Some four-year colleges have been concerned that the trend will affect their own programs and enrollment at their campuses, as it is typically much less expensive to attend a community college over a traditional four-year school. But supporters say the two student populations remain very different. Those attending the community colleges are typically older, with many from those student groups who may be wary about doing well academically at a four-year campus. The demand is there, then, as it is at traditional four-year colleges, and the community colleges must receive state approval before adding any new baccalaureate programs as a further safeguard.

No matter where you go, make sure you choose your college based on what you feel would be the best fit for you across all areas—socially, financially, and academically, to start. Community colleges offer cost-savings and flexible schedules, but you may feel like you need more of a campus life at a larger state university. Or your chosen field of study may be better known at a local private college. Consider all of your options during the college search so that you're confident in your choice.


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Princeton Review released its annual college rankings yesterday, based on a survey of 122,000 students at colleges nationwide. The purpose of the list is to help students choose colleges based on what current undergraduate students at each school say, and rankings include such categories as best and worst dorm food, most politically engaged students, and most GLBT-friendly schools.

The most publicized of these rankings is the list of top party schools, with Pennsylvania State University unseating the University of Florida as number one this year. The party schools ranking is often seen as closely related to a combination of other rankings, which involve the availability of alcohol, the amount of time students spend studying and the presence of Greek life on campus. Many students at schools that top the party school list take pride in this designation, while university officials often see it as a cause for concern.

Other rankings may be more useful to many students and parents, especially the list of schools whose students are most satisfied with their financial aid packages. Swarthmore College, Stanford University, and Harvard University comprise the top three spots in the "Great Financial Aid" ranking, with a total of 13 colleges receiving an additional distinction from Princeton Review for receiving the highest possible rating for financial aid in their survey.

However, the self-reported nature of the information and relatively small number of students answering the surveys may not paint a wholly accurate picture of campus life, so incorporating other resources into your college search is important. This and other tools can help you find colleges to investigate further, but don't rule out a school entirely just because it is or is not on one of these lists.


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by Agnes Jasinski

Most of you know what a college town looks like - a community dominated by the students, faculty and staff of the school that occupies the community there. While many students prefer to apply to the more insulated school environment that comes with a college town, others seek out educations in cities where there's more to the community than the college housed there. Something those students may not consider when filing their applications is whether that intended school has been a good neighbor or a stranger to that surrounding community.

A survey presented yesterday by Dr. Evan S. Dobelle, the president of Westfield State College, ranked 25 colleges based on just that. The survey, called "Saviors of Our Cities: A Survey of Best College and University Civic Partnerships", looked at schools' contributions to the towns and cities they're found in, and which had the best relationships with the residential and business communities in those locations. The top 25 schools were picked based on their positive impacts on their communities, including community service involvement. Another 100 schools were recognized on the survey's "Honor Roll" of friendly neighbors.

The best neighbors according to Dobelle's survey were the University of Pennsylvania and the University of Southern California, tied for number one. Neither Westfield nor the two other schools Dobelle was once president at - Trinity College and the University of Hawaii - made the list. Dobelle, a researcher specializing in public/private partnerships, collected his data by sending the survey he composed to schools across the country for distribution in their communities. Some schools were then contacted for on-campus visits or interviews. The University of Pennsylvania was chosen based on its work with schools in West Philadelphia; the University of Southern California got high marks for working on a program that revitalized businesses in Los Angeles.

Other schools that ranked in the top 25 on Dobelle's list included Tulane University, Portland State University, and the University of Dayton. His specific criteria included real dollars invested, a quantifiable increase in positive recognition of the institution and the length of involvement with the community, among others. Dobelle first came up with the survey in 2006. As colleges are obviously closely linked to their communities in college towns, those schools weren't considered in the survey in favor of looking at urban universities' relationships with their towns and cities.

So what do you think? Should the "good neighbor" factor be included in a student's college search? Do you attend a particularly  neighborly institution? Let us know your thoughts.


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DePaul Joins the Test Optional Club

University Says Standardized Testing is Out, Essays are In

February 18, 2011

DePaul Makes SAT and ACT Optional for Admission

by Alexis Mattera

Standardized testing is as much – if not more – a part of the college process as dancing when the fat envelope arrives, Facebooking your new roommate and shopping for extra-long twin sheets. That will no longer be the case for DePaul University applicants for the freshman class entering in 2012 because the Chicago school has announced its plans to make the reporting SAT and ACT scores optional.

But don’t start shredding your test prep materials into confetti just yet: Students choosing not to submit ACT or SAT scores will be required to write short responses to essay questions designed to measure "noncognitive" traits, such as leadership, commitment to service, and ability to meet long-term goals. These essays were introduced a few years ago and subsequent research convinced the admissions committee that the nontraditional measures did more than the ACT or SAT to predict the success of low-income and minority students at the university. Jon Boeckenstedt, associate vice president for enrollment management, said he wants to encourage applicants with high grade-point averages but relatively low standardized test scores to apply and believes the new method will allow his colleagues to better select applicants who are most likely to succeed and graduate.

DePaul is now the largest private university to join the FairTest list, joining Wake Forest as one of the most selective institutions to adopt test-optional policies. Do you think giving students the choice to report their scores will produce the results DePaul expects? What do you think is a better barometer of qualified applicants: test scores or essays?


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by Agnes Jasinski

A recent survey of high school students found that students are not only ruling out certain schools based on “sticker price” alone, but that many also overestimate how much financial aid they will be receiving to attend the college of their choice.

According to the survey, the high school seniors who participated were starting their college searches with inaccurate information on financial aid basics, the net cost of college, and general comparison shopping. The findings came from “Student Poll,” an initiative from the College Board and the Art & Science Group marketing firm that polled more than 1,600 high school seniors between November 2009 and January 2010.

An article in The Chronicle of Higher Education on the survey suggested something needed to be done to address students’ perceptions on the costs of college. Although the federal government will soon require all schools to provide prospective students with net-tuition calculators that will offer those students a clearer picture on what they would pay in tuition after any scholarships and grants, many of the respondents in this survey said they were not using similar calculators already available. Of those who did use calculators, most came from wealthier families; students from low-income families were less likely to use them.

The survey also found the following:

  • Nearly 60 percent of students reported looking only at the sticker price of an institution before taking financial aid into account; 28 percent had considered the net tuition price of a school after taking into account what they might receive in financial aid.
  • Related to parents’ influence on college choice, 26 percent of students said their parents insisted they attend the most affordable option, 40 percent said their parents insisted they apply to a more affordable school, and 22 percent said their parents ruled out a school that was outside their budget.
  • About 64 percent of white students expect to receive merit aid; about 50 percent of Hispanic and 45 percent of African American students expect to receive merit aid.
  • About 60 percent of students who scored 1250 or higher on the SAT expect to receive merit aid.
  • Students expect grants and scholarships to cover 35 percent of their college education costs, loans to cover 21 percent, family or personal savings to cover 17 percent, and another 24 percent to come from their own or their parents’ earnings during college.

Despite the wealth of information out there, it seems that high school students are still unprepared and not equipped with realistic expectations when it comes to navigating the financial aid process. Are you nervous about where you should start? Check out the college cost calculators we provide, and cultivate relationships with financial aid administrators, as you can never be too prepared when it comes to determining how much your education will cost, and you’ll pay for it once you’ve got that information.


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by Emily

High school juniors who took the PSAT this fall are likely beginning to notice a new phenomenon hitting their mailboxes at home: a wave of mailings from colleges across the country. To parents, the flood of viewbooks and application packets is likely reminiscent of the piles of credit card offers that often make up the bulk of their mail. Beyond sheer volume, there are other traits that college mailings share with credit card offers, and these were recently explored by The New York Times.

In recent years, colleges across the country have been sending out priority applications to entice students to apply and hopefully attend. The applications usually come in bright packaging, usually with some language that suggests the student has been singled out as someone of special interest to the college. Some examples the article gives are “Advantage Application,” Distinctive Candidate Application” and “Exclusive Scholar Application.”

Inside, students find a partially completed application and an announcement that the school has waived the application fee, and possibly some of the application requirements, for a select number of students, including the recipient of the application. In reality, most priority applications are sent out in batches of tens of thousands. The wording isn’t always strictly honest, either. One college, University of the Pacific, promised to waive application fees for its “Distinctive Candidate” applicants, but they don’t actually require an application fee from anyone.

Still, the applications are convenient for students interested in attending these institutions. Waived fees can save students $50 or more per application, and the option to substitute a graded high school paper for a freshly written college application essay can also be enticing. They can also provide an opportunity to learn about a college the student might have never considered otherwise. In fact, this is the reason many admission officials state for choosing to launch a priority application campaign.

However, some counselors are worried that the inundation of priority applications may encourage students to wind up only applying for college at schools that mail them priority applications. Students can also be overwhelmed by the sheer volume of mailings landing on their doorstep, especially when each application is a nearly identical, overly fluffy, and not necessarily true portrayal of the college and the applicant's chances of being admitted.  This can complicate the college search for students who, for whatever reason, aren’t able to visit or fully research each school that seems promising. Others in the higher education world worry that these applications represent a prioritization of selling the school, boosting enrollment, and increasing their U.S. News ranking (an increase in applications or in test scores of applicants can be a considerable boost) over their mission of recruiting and educating students who will thrive at their school.

What do you think of these applications? Did you receive any from colleges? Did they affect your college choice in any way?


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