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NPR’s Claudio Sanchez brings us this bit of bad academic news: The class of 2012 scored the lowest average SAT reading score since 1972. A bit of good news is that math scores were up. Claudio filed this report for our Newscast unit: “Writing, too, is down nine points since the SAT introduced a writing section in 2006. The average score in math was 514 out of 800, five points higher than [...] Last night, Goldman entered into unchartered territory with its first observations of the student loan bubble in a piece titled “Are Student Loans Driving Consumer Credit Growth?” Most of the observations are nothing new, although author Alec Phillips does bring up one amusing implication of what the soaring student debt may mean in macro terms. Specifically, to Goldman the rise in debt is merely “A more important source of countercyclical [...] By JACK HOUGH Federal aid for students has increased 164% over the past decade, adjusted for inflation, according to the College Board. Yet three-quarters of Americans and even a majority of college presidents see college as unaffordable for most, and that sentiment has been steadily spreading, the Pew Research Center reports. Two new studies offer clues on why. One measures the degree to which some colleges reduce their own aid in response to [...] by The American Dream College education in America is a bad joke. Instead of preparing the next generation of leaders for the jobs of tomorrow, the college education “industry” has become a giant money making scam. We constantly preach to our high school students that they “need” to go to college and we tell them to not even worry about how much it is going to cost because [...] For the first time in history student loans have outstripped credit card debt and are poised to become a $1 trillion burden on American graduates. From USA Today: Students and workers seeking retraining are borrowing extraordinary amounts of money through federal loan programs, potentially putting a huge burden on the backs of young people looking for jobs and trying to start careers. The amount of student loans taken out last year crossed the [...] CNN Students sit patiently at Harlem Success School, praised in the book “Class Warfare” as a high-achieving charter school. Editor’s note: William J. Bennett is the Washington fellow of the Claremont Institute. He was U.S. secretary of education from 1985 to 1988 and was director of the Office of National Drug Control Policy under President George H.W. Bush. (CNN) — Last week, the College Board dealt parents, teachers and [...] by ZH It’s Official: America Is Now As Dumb As A Bag Of Hammers Ever wonder why America will elect precisely the president it deserves in just over a year? Here’s why. From Huffpost: Scores on the critical reading portion of the SAT college entrance exam fell three points to their lowest level on record last year, and combined reading and math scores reached their lowest point since 1995. The College Board, which [...] By JENNA ASHLEY ROBINSON, Investors.com You’ve undoubtedly heard the conventional wisdom: Going to college yields a high return on the investment, whatever its cost. Even if college is expensive, it will more than pay off in the end—or that’s what everyone says. The College Board claims, for example, that someone who graduates from college with a bachelor’s degree can expect to earn about 66% more income over [...] Borrowing looms large in American life from homes to cars. But the explosion of student debt in the last decade is a pernicious trend that the colleges themselves are encouraging. AP How do colleges manage it? Kenyon has erected a $70 million sports palace featuring a 20-lane olympic pool. Stanford’s professors now get paid sabbaticals every fourth year, handing them $115,000 for not teaching. Vanderbilt [...] From FT: The eldest of Pamela Fettes’ three sons only recently celebrated his 15th birthday, but she is already worrying about the cost of their college education. Ms Fettes, a 46-year-old single mother, lives in Belvidere, a blue-collar town 70 miles north-west of Chicago. She earns $50,000 a year as a regional healthcare co-ordinator, putting her right at the US’s median household income – although she [...] Editor’s note: Dale J. Stephens is a 19-year-old entrepreneur leading UnCollege, a social movement supporting self-directed higher education and building RadMatter, a platform to demonstrate talent. He is among the first recipients of the Thiel Fellowship, an initiative by venture capitalist and PayPal co-founder Peter Thiel that gives 20 entrepreneurs under 20 years old $100,000 to fund their projects. (CNN) — I have [...] As portrayed on the left axis, median income has hovered around $33,000 since 1988. Meanwhile, college tuition and fees — portrayed on the right axis — have more than doubled. NEW YORK (CNNMoney) — What do you get when college costs skyrocket but incomes barely budge? Yet another blow to the middle class. “As the out-of-pocket costs of a college education go up faster than incomes, [...] (CNSNews.com) – In his commencement speech at Hamilton College on Sunday, former Vice President Al Gore told the graduates that global warming is “the most serious challenge our civilization has ever faced.” But as an undergraduate at Harvard University in the late 1960s, Gore–one of the most prominent spokesmen on climate change today–earned a “D” in Natural Sciences. Gore’s transcript documents that during his sophomore year at Harvard he earned a [...] Higher education fails to provide students “good value” for the money they and their families spend, more than half of U.S. adults said in a survey. The debate over higher education’s value “has been triggered not just by rising costs but also by hard economic times,” according to a report released yesterday by the Washington-based Pew Research Center. The organization, an independent research group funded by Philadelphia-based Pew Charitable Trusts, surveyed [...] College tuition costs shot up again this fall, and students and their families are leaning more on the federal government to make higher education more affordable in tough economic times, according to two reports issued Thursday. At public four-year schools, many of them ravaged by state budget cuts, average in-state tuition and fees this fall rose 7.9 percent, or $555, to $7,605, according to the College Board’s “Trends in College Pricing.” [...] |
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