On March 5th in the Wall Street Journal, Peter Robinson penned an op-ed on the California higher education budget crisis entitled “The Golden State’s Me Generation”. Robinson begins not with the finances behind the tuition hikes and protests, but rather with the framing of the reaction. He cites participants in the “Strike and Day of […]
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By Daniel Bennett Thousands of students on more than a hundred college campuses joined together symbolically yesterday to protest sharp tuition hikes. The students pointed the finger at hard-pressed state and local governments. That was a mistake. State and local subsidies to public colleges and universities increased by 44% in real (inflation-adjusted) dollars during the […]
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Alan Michael Collinge is back in his gadfly role agitating against the student loan industry. Collinge is the author of last year’s The Student Loan Scam: The Most Oppressive Debt in U.S. History—and How We Can Fight Back (Beacon Press) and founder of the website studentloanjustice.org, dedicated to, among other things restoring the bankruptcy protection […]
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Middlebury College is expected to announce a plan to hold the annual rise of tuition to one percentage point above the inflation rate. This announcement will likely be greeted with praise. But why? Costs may be held down in comparison with other colleges, but the bedrock assumption here is a familiar one: tuition must go […]
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President Obama has made reforming federal assistance to college students—with the aim of making it financially easier for more of them to obtain their degrees—-a centerpiece of his administration’s goals. In his State of the Union address on Jan. 27 he called for expanding the Pell grant program that currently serves about 7 million low-income […]
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College investments dropped 23 percent in 2009, the most disastrous year since the National Association of College and University Business Officers began compiling investment statistics in 1971. Two observations can be made about NACUBO’s report, issued last week: One is: The richer the institution, the harder the fall, generally speaking. Harvard, the nation’s wealthiest university […]
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The New York Times’ “The Choice” blog is running a helpful question and answer series on the Free Application for Federal Student Aid. Take a look if you’re puzzling through the process of filling the thing out.
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Why do our for-profit colleges seem so disappointing? Why are they plagued by high levels of student debt, high loan-default percentages, dismal graduation rates, and third-rate reputations that lead some employers to reject their graduates automatically? Sure, back in the old days there were plenty of commercial schools whose sole raison d’etre was apparently to […]
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By Frank J. Macchiarola and Michael C. Macchiarola Why do law schools charge higher and higher tuitions that keep outrunning the cost of living? In the two decades ending in 2007, according to the American Bar Association, the cost of attending the average private law school (including tuition and fees) more than tripled–increasing from $8,911 […]
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Shortly after his inauguration in January President Obama announced a proposal to get rid of a 44-year-old program known as the Federal Family Education Loan (FFEL) program. In the FFEL system, the federal government guarantees loans to students from private banks and similar institutions under a variety of programs (the best known is the so-called […]
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“Weighing The Value Of That College Diploma” in the Wall Street Journal. Take a look.
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The Obama administration – along with many in the opinion elite – is looking to the nation’s two-year community colleges as the primary vehicle to ramp up future Americans’ level of post-secondary educational attainment. A down payment in this direction are the billions of dollars of direct and indirect community college aid included in the […]
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As a regent of the University of California (UC), I voted against “fee” increases proposed by the administration as often as I voted for them, but with each vote I realized that UC was slowly moving toward the day when basic decisions would have to be made about how the university is financed, who can […]
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The College Board’s “Trends In Pricing” report, released this week, reveals that public university tuition rose by an average of 6.5% this fall while private university costs increased by only 4.4%. The discrepancy is no surprise, in an atompshere of reduced state education budgets, declining out-of-state enrollment, and notable increases in in-state applications (and attendant […]
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Cuyahoga Community College expects to see nearly 30,000 students enrolled for credit on its three campuses in Cleveland when it opens for the fall semester late in August, with an additional 30,000 taking non-credit courses for job-training “personal enrichment” (instruction in art, photography, and other hobbies). According to campus officials, the 30,000-strong for-credit student population […]
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Of every 100 kids who enter American high schools, only about 20 obtain a bachelor’s degree within a decade. That is why the proportion of adult Americans with baccalaureate degrees is rising relatively slowly, and why the U.S. has fallen behind a number of other nations in the proportion of young adults with college degrees. […]
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“How To Pay For College As An Adult” from Forbes
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During my twelve-year term as a Regent of the University of California (UC), I served for several of those years as Chairman of the Committee on Finance, which has jurisdiction over the budget of the UC system. Adopting a budget was among the most complex and painful tasks that confronted the Board. For me, the […]
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As expected, President Obama’s plan to aid community colleges, to the tune of $12 billion, drew impressive praise. “Dean Dad,” who blogs at Inside Higher Ed called the president’s Macomb Community College speech in Michigan, which outlined the program, “by far the most intelligent presidential discussion of higher education I’ve ever seen.” But there were […]
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“Maximize Your 529 College Savings Plan” from the Boston Globe
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The last time President Obama gave a speech dealing with education (his address to Congress on February 24), he misrepresented government data to make his case that the country needs to put a significantly higher percentage of people through college. (I wrote about his fudging of the figures here) For that reason, Americans would be […]
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“8 Tuition-Free Colleges” from Mental Floss
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Newspapers are folding right and left—the Rocky Mountain News in February, the Seattle Post-Intelligencer in March, the Boston Globe any day now, it would seem—and, according to the American Journalism Review, some 15 percent of the newsroom jobs, about 5,000 of them, last year (with another 7,500 vanishing so far this year) at newspapers across […]
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In a recent article that received a fair bit of buzz, The New York Times spun a story of the supposed new reality in the recession-plagued U.S.—Students from more well-off families being given admissions preference at increasingly cash-strapped universities. But the Times article misses the larger point. Lawrence University, Colby College and Brandeis (some of […]
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A modified version of this piece appears today in the Washington Examiner Georgetown University, like many colleges and universities hit by the current economic downturn, is in what look like dismal financial straits. The value of Georgetown’s endowment shrank 25.5 percent last year, to $833 million, the annual deficit it has been running is estimated […]
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Dr. Macchiarola, chancellor of St. Francis College in Brooklyn, delivered these remarks on February 5th at a one-day conference in New York on “The Future of the University.” The conference was sponsored by the Manhattan Institute’s Center for the American University. If I were making this presentation a year ago, I would not have some […]
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On February 11 art-lovers packed a meeting room at Brandeis University to protest Brandeis’s plans to shut down its on-campus art museum and auction off the museum’s entire 6,000-piece collection. The list of holdings at Brandeis’s Rose Art Museum, most of them donated since the museum’s opening in 1961, reads like a Who’s Who of […]
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In the area of higher education especially, but in most other areas too, the Stimulus bill looks more like an emergency measure designed to maintain current programs than a strategic package aimed to stimulate growth. Among others, college and university presidents are likely to be among those sorely disappointed. Last November, shortly after the election, […]
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Here at Minding the Campus we’ve been elaborating on Charles Murray’s argument that college isn’t for everyone, and that a college degree—which can cost graduates at least four years of forgone earnings and leave them drowning in student-loan debt—isn’t necessarily the ticket to economic prosperity that it’s cracked up to be. So what?, you might […]
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Hardly a sector of the American economy is unaffected by the current recession; however, no matter how painful this period is, it provides an opportunity for many institutions to do the kind of restructuring that should have been done before now. And, fewer segments of our society are in greater need of financial restructuring than […]
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