Blog

As a college student, I must admit I was duped into opening a credit card my freshman year. I was lured in by the fact that all my friends were rockin’ their free TCF sweaters and, of course, the concept they pushed of “buy now, pay later.” But credit-card companies marketing themselves heavily on college campuses isn’t new: It’s the perfect place to find new customers who are low on cash and looking for a sweet deal. But have you ever wondered why some colleges allow TCF on campus as opposed to Bank of America- they pay to be there. That may not be the shock of the century but with payments hovering at almost $84 million, you have to question the ethics of it. According to a report released by the Federal Reserve Board, credit-card companies paid $83.5 million to colleges, their foundations and alumni organizations last year under agreements that allow them to market credit cards to students and alumni. Under the agreements, schools and affiliated groups were generally paid for each account opened.

Why were credit-card companies willing to disclose such details? Under the Credit Card Accountability Responsibility and Disclosure Act of 2009, credit-card issuers are required to submit their agreements with colleges and related organizations to the Board of Governors of the Federal Reserve; they must also disclose the total number of opened accounts. Of the agreements reported, about 40 percent were with colleges and 33 percent were with alumni associations. The agreements resulted in the opening of 53,000 accounts in 2009.

The college with the most accounts was Penn State Alumni Association at 1,600 and they were paid $2.8 million by the card issuer FIA Card Services, a subsidiary of Bank of America. The University of Illinois Alumni Association received the most money at about $3.3 million. If you’re interested about your school’s agreement with credit card issuers, check out the Federal Reserve database.

The agreements, certainly ones that involve marketing credit cards to students, can be considered predatory in nature. An examination of this year’s contracts found that they required colleges to provide personal information about their students and, in some cases, even paid the institutions extra when students carried a balance on their cards. And with what sounds like colleges profiting from student debt, it would seem that “free sweater” doesn’t seem like such a sweet deal after all.

Recent college graduates entered one of the worse job markets in history. And while some have opted to stick it out busing tables to pay the debt caused by their college education, a third-year Boston College Law School student decided he wasn’t willing to bear the cost of an education that did not guarantee a job upon completion. In an open letter posted on EagleiOnline — an online student-run newspaper at BC’s law school — the anonymous student made a proposition to the school’s dean: Refund his tuition and he’ll leave school without a degree.

The student explained that the lackluster job market, a massive student loan debt load and his wife's pregnancy were all causing him undue stress. And he went on to say, “This will benefit both of us: on the one hand, I will be free to return to the teaching career I left to come here. I'll be able to provide for my family without the crushing weight of my law school loans. On the other hand, this will help BC Law go up in the rankings, since you will not have to report my unemployment at graduation to US News.”

How did the school respond? Shockingly enough, BC did not meet the student’s request. According to the Boston Herald, the law school said in a statement that while it is "deeply concerned" about its students' job prospects no institution of higher education can guarantee a job after graduation. "What we can do is provide the best education possible, and work together to provide as many career opportunities as possible," the statement said.

What do you think? Should tuition be conditional?

“Have pride in giving back to the institution that has given you so much” is surely the sentiment colleges intends for students to graduate with. And while a majority may decide to give back, what will come of the students who decide not to? Two students from elite Ivy Leagues – where you might expect a higher degree of integrity – were faced with that exact predicament and were subsequently shamed by their peers for not contributing to the senior class fund.

At Dartmouth, the single student from the 1,123-student Class of 2010 that did not contribute was publicly criticized in the college newspaper where they addressed Laura DeLorenzo directly without publishing her name, writing she has “symbolically shown the Class of 2014 that she did not consider their chance at happiness valuable.” The next day, another student – writing under a pseudonym – revealed DeLorenzo’s identity on the Little Green Blog, a popular blog on campus. But why was there such a hostile response towards a student with possible financial strains? Her decision jeopardized a potential donation from the Class of 1960, which had promised to give $100,000 to the college if every graduating senior contributed. In response, DeLorenzo sent out an e-mail, posted on the Little Green Blog, writing that her decision not to donate was personal and reflected “that the negative aspects of Dartmouth outweigh the positive, and nothing more."

At Cornell, volunteers overseeing fund raising efforts were provided lists of classmates who had not donated. They were encouraged to send multiple e-mails and to call students on their cell phones, telling them that they were among the few who had not yet given. One student, Erica Weitzner, reported getting four or five e-mails in addition to phone calls imploring her to contribute. "I understand the theory behind the Cornell campaign is they want their seniors to donate, but pushing this hard makes it seem like it's no longer really a donation but more like part of tuition," Weitzner told the New York Times.

Do you think imploring such pressure tactics – repeatedly calling and sending multiple e-mails – and public humiliation is the approach in which well-respected institutions should conduct themselves in order to solicit donations?

Imagine a world where cold, hard cash was the incentive for doing well in school. A new study, that examined three Ohio community colleges, attempted to explore if paying students is the answer for an authentic effort in their education. The report, "Rewarding Progress, Reducing Debt: Early Results From Ohio's Performance-Based Scholarship Demonstration for Low-Income Parents," showed that using financial aid strategically – providing low-income parents scholarships based on their performance – was “encouraging.” The program offered the low-income parents up to $1,800 for one academic year if they earned at least a “C” in 12 or more credits, or $900 for the same grade in six to 11 credits.

According to Lashawn K. Richburg-Hayes, deputy director of young adults and postsecondary education with MDRC, a nonprofit research organization based in New York, “the goal is to understand if performance-based scholarships can work for different populations, in different amounts." The result – of the students assigned to the scholarship group, 33 percent earned the full-time award and 41 percent received the part-time award in the first term. Thirty percent earned the full-time award and 31 percent the part-time award in the second term. The scholarships earned were then paid directly to the students, “allowing them to use the money for whatever expenses were most pressing”, said Reshma D. Patel, a research analyst with MDRC and a co-author of the report. Unlike scholarship funds that must be put towards tuition fees or books, the student has the freedom to use the cash as they see fit. “That flexibility was especially important for the program's target population, low-income parents, who could use the money for child-care or other living expenses,” Patel said.

So, future college attendees, do you think students would be more inclined to put in a wholehearted effort in their education if they were paid to do so?

Due to the drastic economic downturn, students are flocking to majors considered “safe” – economics, engineering and computer science – and steering clear of ones that develop creative thinking and imagination – the humanities. It makes sense, since the objective after graduation is to obtain a well-paying career to pay for that prestigious college education and the best way to do so, in the eyes of the majority of college students, is to select a major where the potential for a generous return on your investment is high. According to the American Academy of Arts and Sciences, student interest in the humanities – which include the classics, literature, languages, history, philosophy, and religion – has dropped dramatically in recent years. Only 8 percent of American undergraduates majored in a humanities field in 2007, compared with 17 percent in 1966.

At esteemed universities, including Cornell, Dartmouth, and Harvard, there is concern that without humanities students won’t develop the kind of critical thinking and empathy “necessary to solve the most pressing problems facing future generations.” Drew Faust, Harvard’s president, explained, “That’s a real shift from seeing an undergraduate education as general preparation in a wide range of fields to seeing undergraduate education as getting a particular vocational emphasis. People worry a lot about what you do with that degree. I think the change has been accelerated and intensified by people’s immediate concern of getting a job — especially with the increasing cost of higher education and the challenges in the economy.’’ (In case you were wondering, the most popular field of study at Harvard is economics.)

In response, colleges have begun pledging huge sums to their literature and arts departments, while others have begun erecting buildings. Among the universities attempting to restore interest in the humanities is Brandeis, which recently dedicated a new $22.5 million glass-and-slate hilltop home, called the Mandel Center for the Humanities. Harvard and Brown have also received millions to support new humanities initiatives.

When you envisioned what your college application process would be like, I’m sure you anticipated stress and anxiety but I doubt you expected a joke could get you in. This was the moment you were told to draw on your strengths and articulate every achievement – countless community service hours, stellar GPA, and the fact that you were senior class president. Every sentence would be so perfectly and meticulously thought-out that who you were just leapt right off the page. You prepared your answer on why you belonged at your dream college and pinpointed what you had to offer…until you opened the actual application and found a serious curveball.

In addition to common essay prompts, more and more institutions are jumping on the unconventional question bandwagon and are interested knowing not only in why students want to gain admission but just how creative they can be when challenged. Here are the far-from-average questions schools are asking this year:

California Institute of Technology

Caltech asks applicants to not overanalyze:

• “What are three adjectives your friends would use to describe you?”
• “Caltech students have long been known for their quirky sense of humor and creative pranks and for finding unusual ways to have fun. What is something that you find fun or humorous?”

University of Chicago

Each year the University of Chicago asks newly admitted and current students for essay topics:

• “Dog and Cat. Coffee and Tea. Great Gatsby and Catcher in the Rye. Everyone knows there are two types of people in the world. What are they?”

Yale University

Yale asks applicants to write essays, plus answer the following questions in 25 words or less:

• “If you could witness one moment in history, what would it be and why?”
• “Recall a compliment you received that you especially value. What was it? From whom did it come?”

University of Dallas

Along with three conventional questions, including “What influenced you most to apply to the University of Dallas?” the school also asks:

• “Tell us your favorite joke or humorous anecdote.”

Soon-to-be college applicants, what do you think of this technique? Are you a fan of the challenge or frustrated by the fact that not only are you expected to impress them with your achievements and extracurricular activities but now you’re expected to be witty, too?

Competing against some of the brightest young minds in the country, Boston University sophomore Erin McLean became the 2010 “Jeopardy!” college champion on Saturday. The 2009 Danvers High School graduate beat out 14 competitors for the coveted title. Taking on challengers from Yale University and Southern Adventist University in Tennessee in the final round, McLean won the grand prize of $100,000. Aware of the current economic climate, McLean shared how she planned on spending her winnings: "The first thing I'll do is payoff my student loans. I'm really looking forward to graduating debt-free; that will be amazing." Any money remaining will go towards a new MacBook and a spring break trip with friends. (She is in college, after all!)

McLean, a lifelong “Jeopardy!” fanatic, explained that after missing the Final Jeopardy question, she was unsure of her fate – “If you watch the show, it looks like I didn't know whether I won or not," she revealed – but after a few gut-wrenching seconds, host Alex Trebek announced her the winner. As she made her way out to center stage, she stood beside Trebek clutching the championship trophy, giggling all the while. “It was unreal and one of the best moments of my life," McLean said. "I got to actually live my childhood dream. I never thought I'd even get called to be on the show, so to win ... Words can't even describe it."

Following Facebook’s launch of their new profile page, sorority members from Florida State University, Auburn University, the University of Alabama and Louisiana State University have all confirmed reports of harassment by cyberstalkers posing as potential Facebook friends. According to Florida State assistant police chief, Major Jim Russell, the sorority members on his campus received a friend request from an individual claiming to be affiliated with a particular sorority. Once accepted, the new “friend” requested video interviews with the sorority members asking questions pertaining to the members’ interests – ranging from members seeking initiation to active members looking for leadership roles; however, in an effort to conceal their identity, the friend would claim their camera was broken and insisted on conducting a one-way video chat.

That’s when the Facebook conversation escalated into harassment, Mr. Russell said, with Florida State students reporting that in some instances, the “friend” asked them to reveal undergarments or undress entirely. One student, who tried to cease contact with the friend, was told that there were girls outside her door who could “handle her” if she refused to comply with orders.

Officials at Auburn University, the University of Alabama and Louisiana State University did not release details regarding the nature of the harassment on Facebook. However, all four institutions have informed members of their campuses about the incidents and officials at three of the universities have confirmed ongoing investigations. Mr. Russell suggested that all students adjust their privacy settings and deny friend requests from individuals they don’t know. He also warned that any information released on the Internet can stay there forever. “Students now have to understand that the Internet cloaks the bad guys and that basic prevention concepts are key into preventing future incidents,” he said.

There are myriad reasons to attend a particular university – from prestige and academics to athletics and diversity. But if you’re in search for the universities with the top rated professors, CBS Money Watch has created the ultimate list for you. To compile the list, CBS relied on data from the Center for College Affordability and Productivity, which referenced information from RateMyProfessor.com. If you’re unfamiliar with the website – which I doubt you are – it allows students to anonymously rate their university professors as well as view the ratings college teachers have received. And with over one million professors and 10 million opinions, it’s the most comprehensive online source of student feedback on instructors.

After perusing the list, it’s clear there’s a common denominator: For the most part, a majority of the schools are liberal arts colleges with student bodies under 4,000 students. That’s not surprising considering smaller student bodies translate into smaller classes, greater hands-on learning opportunities and, most importantly, more individual attention. For additional information on any of these school – or thousands of others – check out our college search.

1. Oklahoma Wesleyan University
2. United States Military Academy (NY)
3. Clarke College (IA)
4. Wellesley College (MA)
5. North Greenville University (SC)
6. Master’s College and Seminary (CA)
7. Wabash College (IN)
8. Carleton College (MN)
9. Sewanee-The University of the South (TN)
10. Marlboro College (VT)
11. Corban College (OR)
12. Randolph College (VA)
13. United States Air Force Academy (CO)
14. Wesleyan College (GA)
15. Pacific University (OR)
16. Whitworth University (WA)
17. Doane College (NE)
18. College of the Ozarks (MO)
19. Bryn Mawr College (PA)
20. Sarah Lawrence College (NY)
21. Emory & Henry College (VA)
22. Wisconsin Lutheran College
23. Hollins University (VA)
24. Trinity International University (IL)
25. Cornell College (IA)

Ah, finals week. It’s been almost six years since my last one but all the hairy details – the tensing of muscles, the firing of brain synapses and the pain of paper cuts as I shuffled through my notes the night before a huge exam to absorb one last piece of information needed to fill a blue book – still come rushing back to me like clockwork every December and May. It’s far from fun but some college students are actually enjoying this time of year thanks to some furry friends. No, not Joakim Noah...puppies, you guys!

First featured on the Jumbo Shorts blog last month (by my good friend, University of Connecticut alum and web content specialist Kaitlin Provencher, no less!) and now making headlines in a variety of news outlets, Tufts University has foregone the traditional finals week perks like extended library hours and wider availability of counseling services and is instead giving its students a much-needed reprieve from exams by bringing therapy dogs to campus for them to play with. Resident director Michael Bliss fashioned the idea after a similar program he participated in as an undergrad at NYU and the results were just as positive then as they are now. "Every college student has stress around finals," said Bliss. "And taking a break out from that with something as easy and simple and loving as petting dogs is really helpful."

Tufts isn’t alone in its quest to bust stress (though its program is by far the cuddliest): Over the last decade, community, state and private schools have been employing untraditional finals week events to keep students less frazzled and more focused including late-night yoga, massages, oxygen bars, impromptu dance parties, pizza fairies and rubber ball deluges. "These events help students acknowledge the fact that you have to put these more stressful times in perspective," said Lori Morgan Flood, director of wellness and health promotion at Oberlin College. "You'll get through it."

College may be about learning the information and skills to prepare students for jobs, graduate school and life after college in general but throwing a little something unexpected or unusual into the mix is just what many students need to perform at their absolute best. My advice: Step away from the books if only just for a moment and have some F-U-N!