Paying for College Blog

A BHAG For High School Graduation Rates

President Obama laid out in his unofficial State of the Union Address this evening the goal that by 2020 the U.S. would have the highest high school graduation rate among industrialized nations.  That got me wondering as to where we stood on this metric today.  The answer:  very far behind other industrialized countries!

The data below came from the College Board which summarized the OECD report on levels of educational attainment among OECD members:

Good News! Syracuse Raises $1 Million In 8 Weeks To Aid Struggling Students

430 students received these emergency grants for an average of about $2,500 per student, according to WSYR-TV. 

Will Downturn Impact Majors that Students Choose?

I had this question in mind as I was reviewing data on the National Center for Education Statistics website.  Here is a link to the spreadsheet where this analysis was derived from: 
Download Degrees_Conferred_1971_2006. 

So, how have the choices students have made in terms of majors changed over the past 30 years? 

Prepaid College Plans Get Second Look

Associated Press reports today that prepaid college plans are getting another look in light of the market downturn which has severely impacted the market returns of 529 plans: 

Unscientific Sampling of Colleges Indicates Muted Increases in Tuition Rates for 2009-10

I quickly scanned recent articles disclosing how 26 colleges and universities are adjusting tuition, room and board levels for the 2009-10 academic year.  It is clear in reading these releases that many schools are keeping their cost increases to a minimum (16 out of 26 were at 4% or below), with several noting that they were the lowest increases since the 1960s.  Here is the spreadsheet with school names, increases, description and a link to the sourced articles: Download Tuition_Increases_022309

A Useful Reminder: Student Loans Not Dischargeable in Bankruptcy

Found this on the blog of the California Appellate Report (Shaun Martin, author):

Monday, February 23, 2009

McKay v. Ingleson (9th Cir. - Feb. 23, 2009)

The Ninth Circuit has said it once, and they'll say it again (and again). You've got to pay your student loans. Even if you go bankrupt. And even if your creditor is the University itself, who (like Vanderbilt University here) gives you the loan essentially in the form of a credit card, and at an inflated, credit-card like interest rate.

You have to pay.

Thinking of Making a Loan (or Taking Out a Loan) from A Family Member?

Here are some guidelines:

• "Never lend more than you can afford to lose. That way, if the borrower defaults, you haven't put your finances in jeopardy."

One Small Step For Man....

On a personal note, three weeks after surgery to repair a ruptured achilles tendon, I was able to take my first steps, sans crutches, this weekend.  Lest you give me too much credit, I have a large boot on my right leg that extends from my knee to my foot to keep the Achilles immobilized while supporting my lower leg.  I must admit my first few steps, while certainly not comparable to the struts seen at the Oscars tonight, were every bit as special.  While there is certainly months to before I can even think about jogging a few miles, nonetheless this was certainly a sweet milestone to savor. 

Government in Talks to Own Up to 40% of Citibank

This story was first reported in the Wall Street Journal this evening.  With Citi shares getting hammered on Friday, down 22% to $1.95, I opined in a Friday post that something would need to happen this weekend to avoid a further meltdown on Monday. 

Wondering What Parents of College-Bound Students Are Worrying About?

Five letter acronym beginning with F and ending in A.  Yes, you guessed it, FAFSA.  This was the most emailed story in the New York Times today:  The Big Test Before College:  The Financial Aid Form.

Here are the highlights of the story: