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by Alexis Mattera

The true cost of a college education is seldom the number that’s printed in school brochures and on various college comparison lists. When you figure in federal aid, scholarships, grants, room and board, books and supplies, that price fluctuates. One thing remains constant - higher education doesn’t come cheap - but a new poll finds students are willing to stretch their finances for several key factors.

In April, right up until enrollment deadlines, students were still considering “too expensive” schools and were willing to stretch to pay for their education, poll conductors the College Board and the Art & Science Group report. While it would be more financially sound to select the school with the lower tuition and better financial aid package, “too expensive” colleges remained in play if they had strong academics in students’ fields of interest, were places students felt comfortable, had prestigious academic reputations or had excellent records of graduate school acceptance or good job placement after students graduated. Here’s the breakdown:

• Twenty-six percent of students surveyed said their family would have to stretch a lot, but “I think we’ll make it.”
• Twenty-two percent chose “I’m not sure how my family will afford to send me to college, but I believe we’ll work something out when the time comes.”
• Eleven percent said, “I don’t think my family can afford to send me to college, but we are going to try.” Nearly 40 percent of students surveyed did not have a sense of long-term costs, citing “no idea” what their likely monthly payment on student loans would be after graduation.

If you think back to every award show you’ve ever seen, you’ll recall those who do not win always say it is an honor just to be nominated. The same can be said for college admissions: It’s an amazing achievement to be accepted to a prestigious college but is attending worth it if the cost of attendance is going to drive you and your family into debt?

by Emily

New college grads may face an especially tough time due to the recession.  The growth in anticipated new hires, which is measured twice a year by The National Association of Colleges and Employers, has been slowing since it reached a high in spring 2007, falling almost flat in the fall.  The numbers for spring 2009 show that for the first time in years, businesses actually anticipate hiring fewer college graduates this year than last--22 percent fewer, in fact.  According to The Boston Globe, the business and finance sectors have an even bleaker outlook, as does the northeastern region of the United States.

With this dim hiring picture in mind, soon-to-be college graduates are looking at alternatives to the traditional workforce. Additional education, teaching fellowship programs, and volunteer work are all proving popular. If you're a college student staring graduation in the face, keep in mind the increased competition and start researching and applying sooner, rather than later.

Graduate programs, including ones offered by business schools, are seeing increased enrollment as many students choose to either delay their entry into the workforce or push up their long-term plans to attend graduate school.  Graduate students can potentially land full-tuition fellowships or assistantships, as well as generous scholarship awards.  Many graduate degrees can help recipients become more competitive when they do enter the workforce, even if the economy does not recover substantially.

Similarly, teacher certification programs, such as the popular Teach for America, are seeing an increase in applicants.  These programs offer a stipend, as well as teacher certification, and in some cases a master's degree in education, in exchange for a commitment of one or two years teaching in a low-income school or a high-need subject.  Other programs exist with similar benefits, including teaching fellowships in several major cities such as New York and Chicago.  College students or recent grads who want to teach but don't want to pay for more school may want to consider these options.

Other volunteer programs, like AmeriCorps and the Peace Corps, also are seeing more applicants.  Such programs often come with a stipend or living allowance, as well as student loan deferments or even loan cancelation or repayment benefits.  Students can also participate in many of these programs while still in college or while pursuing graduate degrees.  If you're interested in an alternative to the post-collegiate rat race, there's no time like the present to start considering your options.

by Emily

Want a shot at a top fellowship, like the Rhodes scholarship? There may soon be someone on your campus to point you in the right direction. Just like college advisors and career counseling services can help you apply to graduate school or find a job, many schools are hiring fellowship advisors to help students land these competitive awards for graduate study.

Fellowship advising, once found almost exclusively at Ivy League schools, has become a growing trend at unviersities nationwide, according to the Chronicle of Higher Education. Fellowship advisors get in touch talented and ambitious students on their campuses and help motivate them to seek out and apply for prestigious fellowships, such as the Rhodes, Marshall, Truman, and Fulbright scholarships. Since the common understanding of these programs is that they are exclusively for the best of the best, usually exceptional students at top-ranked universities, many students who could qualify and potentially win don't even think about applying.

Fellowship advisors typically look for students engaged in challenging coursework, research, and extracurricular activities, and encourage them to consider graduate study and fellowship funding. For many, the goal isn't so much to have students at their schools win these prizes, but to help outstanding students define their goals, push themselves, and get the most out of their educations. The process of preparing and competing for a prestigious fellowship can be a huge help to a student, even if he or she doesn't win the award.

High school students who are committed to seeking out all possible academic and scholarship opportunities may want to see if any of their prospective colleges have fellowship advising offices. Current college students, especially freshmen and sophomores, may also want to look into this, as many fellowship programs look at students' entire college careers, not just their last year or two.

Even if your school doesn't offer fellowship advising, you can still compete for, and potentially win, prestigious graduate student scholarships. As with your college scholarship search, seek out opportunities early, and know what's required to apply. Cultivate good relationships with your professors to land excellent letters of recommendation and seize every chance to participate in research projects and extracurricular activities. Even if you don't win the award you want, these activities can help you stand out in the job search and the graduate school application process.

by Alexis Mattera

If you are attending college, you probably need some form of financial aid to pay for tuition, room and board, books and other living expenses. Next year, it’s likely you’ll need a little bit more.

The Columbus Dispatch recently reported the number of students in the U.S. who have filed forms for federal financial aid for the 2011-2012 academic year has increased by about 1 million from last year. At Ohio State alone, requests are up about 10,600 from two years ago - a 22-percent jump, says financial aid director Diane Stemper. Ohio University’s Sondra Williams reports a similar trend with a 12-percent increase in federal financial aid applications. The reasons for the increased need aren’t surprising. "Many people who used to have the resources to send their children to college have lost their jobs or been downsized," Stemper said, adding lower home and stock values and rising food and gas prices are also culprits.

Though more students are getting the aid they require – OSU has seen an increase in Pell Grant recipients enrolled and OU has more students receiving subsidized loans – the financial relief may be short-lived: Governor John Kasich’s state budget proposal has public universities in Ohio could increasing tuition by up to 3.5 percent. Current undergraduate and graduate students, do you need more financial aid now than you did when you first enrolled? High schoolers and incoming freshman, how do you plan to pay for school?

by Darci Miller

Graduation.

Depending on where in your academic career you are, the word has varying connotations. To high schoolers, graduation is IT. The ultimate goal. The sum total of four awkward, drama-filled years. The day that begins a new, much more fun and independent chapter in your life.

In college, graduation is a much more complex idea. You might be excited to get out there and start your new job and your new life in a new city or state. On the other hand, what if there’s no job? What if the thought of leaving your beloved alma mater is akin to the thought of a root canal?

After high school, you may be parting ways with your closest friends, but you have the safety net of knowing that almost everyone comes home for the holidays. After college, this isn’t the case. If you attend school in Chicago and have a friend that’s from Texas that’s graduating and going to grad school in Seattle, will you ever see him again? Will he be back to visit?

Of course, this could be me being a little selfish and a lot sad that I’ll be losing so many friends and coworkers to the real world next year. But nonetheless, from graduates and non-graduates alike, the impending ceremony is receiving mixed reactions. Honestly though, I think this is part of the beauty of college. For the first time, you get to choose where you live, learn and make friends. Being sad to leave is a weird sort of pat on the back – “Good job! You made some awesome decisions!”

To all soon-to-be graduates, congratulations! Future college freshmen, you’ve got some great stuff headed your way, so get excited! Future college graduates, I wish you true sadness upon leaving college (hey, I said it was weird!) and all the success in the world in your future endeavors.

Darci Miller is a New Yorker studying journalism and sport administration at the University of Miami. When she’s not writing for the school newspaper, you can find her at the gym, either working or working out. She loves all ‘80s pop culture (the cheesier the better!), and glues herself to her TV when the Olympics are on. She dreams big, and believes the sky’s the limit!

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 Cameron Pybus

My name is Cameron Pybus and I’m privileged to be one of Scholarship.com’s newest virtual interns. I’ve just finished my junior year at Texas A&M and have also just returned from my study abroad semester in Italy. I am majoring in environmental design or architecture and plan to attend graduate school in the fall of 2012.

Architecture and Texas A&M go hand in hand for me because they are both goals I have imagined achieving for some time now. My two sisters and I value our dad’s artistic traits that he passed down to us; this is a big reason why I pursued architecture, as creativity has fueled much of my life. Through high school, I enjoyed various art studios and competitions that really opened my eyes to creative thinking. Being able to harness this creativity and design environments that invoke different visual responses is thrilling and I’ve enjoyed having the opportunity to apply this creativity. Texas A&M has been a tradition in my family and I’m proud to attend the same school that my great-grandfather, grandfathers and parents all did. Being a part of this legacy made A&M so much more special to me and an easy choice when selecting what school to attend.

I’m excited to be a virtual intern for Scholarships.com. I was also attracted to this internship because it’s a great way for future and current college students to gain different perspectives. Each virtual intern has a unique story and experience, allowing each reader to see these different possibilities in a college or university setting is important. It’s a unique opportunity to express things I’ve learned through my college years and hopefully you can find some of them useful. College is what you make it - learn from others and keep an open mind!

by Emily

Thinking about graduate school? You now have more options than ever, including several varieties of specialized master's degrees for growing industries.

The New York Times recently profiled ten of these new programs, giving a run down on who offers them and what graduates can do with them. If you're thinking of pursuing an advanced degree and want to consider something a little outside the box, you might want to check out the "Ten Master's of the New Universe." Ranging from programs that fill a current demand for workers to programs aimed more at enhancing participants' current jobs or anticipating future needs, the degrees profiled provide an interesting cross-section of new graduate programs.

If you're looking for a graduate degree that will make you more immediately marketable to a growing industry, you may want to consider homeland security, cybersecurity, or education leadership. Programs in these areas have largely been created to meet new demands: keeping the country safe, keeping information on the Web private, and running innovative new schools. These degrees can help you get hired in growth industries, or help you move up within them. However, there are many other valid paths to careers in these fields, so while specialized degree programs can give you an advantage over other candidates, a degree alone may not be enough to get you hired.

Many new master's programs are also focusing on more specialized areas of long-standing fields, or on intersections of different disciplines. For example, Columbia University offers a Master of Science in narrative medicine, which promotes a better understanding of patients as people through a better understanding of literature involving illness. Master's degrees in sustainable cultures and urban environment also blend ideas from multiple fields to address more specific problems in their own. While none of these degrees translate into a direct career demand, they allow professionals and students to gain new perspectives on their disciplines and the problems that interest them.

Finally, there are master's programs that you may have never imagined could exist or have a market. From degree programs in construction management to social networking, highly specialized master's degrees are giving candidates an edge in the business world by providing in-depth training that puts job candidates on the cutting edge of developments in their field. Specialized MBA programs are part of this trend. If you know exactly what you want to do in the business world, you may want to skip the generalized degree and go straight for a graduate education tailored for your job, such as the MBA in pharmaceutical management at Rutgers University.

As a warning, master's programs in general, but especially somewhat esoteric ones, are unlikely to come with large financial aid awards. If you're interesting in pursuing a master's degree in one of the fields above, be prepared to shell out a significant amount of cash or throw some serious effort into your scholarship search.

by Emily

The Obama health plan isn't the only hotly debated controversy in which the of the social good is currently being invoked. College rankings also fall into this category with the release of Washington Monthly's annual rankings this month, which differ sharply from the better-known U.S. News and World Report rankings, and focus primarily on universities' contributions to the "social good."

Washington Monthly publishes two sets of rankings, one for national universities and one for liberal arts colleges, each year. This year, the top three spots in the magazine's national university rankings all went to schools in the University of California system: UC Berkeley, UC San Diego, and UC Los Angeles, respectively. The top three liberal arts colleges were Amherst College, Mount Holyoke College, and Williams College. Amherst and Williams both appeared in U.S. News' top three, as well, but rankings differed sharply for many of Washington Monthly's other top schools, which included many state colleges, as opposed to the elite private colleges that dominate U.S. News.

A large part of the drastically different rankings comes from Washington Monthly's chosen methodology, which asks as much what colleges are doing for the country as it asks what they can do for their students. This is determined by looking at factors that include student involvement in national service, university involvement in research, and the social mobility attending college gives students.

The service index is achieved by looking at the number of current students involved in ROTC, the Reserve Officer Training Corps, as well as graduate participation in the Peace Corps. Research is determined by the university's production of PhD graduates, the number of degree recipients going on to achieve PhDs at other institutions, and other components such as research spending and faculty awards. The matrix is slightly different for liberal arts college, as many don't award PhDs and some don't provide data for all of the research categories. Social mobility is based on each school's ability to enroll and graduate needy students, determined by a calculation involving the percentage of students who receive federal Pell Grants and the school's undergraduate graduation rate.

Washington Monthly provides a more thorough description of their rankings system, as well as the rationale behind their decision to rank colleges, on their College Guide website. Other magazines participating in the college rankings game include Princeton Review and Forbes Magazine.

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?