The following chart shows wage growth (or lack of) 60 months into the most recent economic “recovery”, which is at the lowest point since World War II. Furthermore, the employment situation is no more rosy: “The bottom line is, we’re a million miles from full employment,” said [David] Blanchflower, a Bank of England policy maker…
Tag: Expected Family Contribution (EFC)
College Tuition Up 1225% Since 1978
As has been previously discussed, college tuition is increasing annually, and shows few signs of abating; however, at some point college education will be subject to the law of supply and demand. As demand for college education continues growing – seen in each year’s record numbers of applicants, with total student debt growing beyond the record breaking $1.2 Trillion mark…
The Bill Always Comes Due
An unprecedented $1.2 trillion in student debt has grown exponentially in the last several generations, showing few signs of abating. In less than one generation, college graduates have tripled their debt burden. According to the Wall Street Journal, over 70% of the Class of 2014 will graduate college with an average of $33,000 in student…
Ahead of the Curve: July 5, 2014
Inspired by CMC Clients Advanced Placement (AP) Test Scores: Students often believe that a score of less than 3 will hurt their college admissions competitiveness. The belief is a myth. A student’s willingness to challenge themselves academically by taking AP classes and the tests will be considered by college officials in the admissions process. The score,…
A $60 Trillion Inheritance…in Debt
Wishing a better life for our children is normal. Actually setting aside our personal wants in favor of our children is more complicated in practice. The next generation will inherit a record $60 Trillion in total U.S. debt—government debt, business debt, mortgage debt and consumer debt. (See chart below) Furthermore, the growth of student loan…
Borrower Beware
Student borrowers aren’t the only ones defaulting on college loans… Chart source: Department of Education & Inside Higher Ed
Why Winning Free Money Takes Effort
Scholarships are not mysterious. Winning them takes work – which is only a continuation of the efforts to be eligible to compete for scholarships in the first place.
Ahead of the Curve: February 27, 2014
From Our Clients: Aaaaccck! How do we pay for college? Parents often tell themselves, “First things first. Applications, THEN we’ll think about how to pay for college.” Totally an expected reaction, when considering the six figure totals for a college education these days. However, the planning to pay for college can take place long before…
Ahead of the Curve: January 23, 2014
From the News: Some Parents, Educators are Rethinking the Role of AP, Baltimore Sun January 18, 2014 Who Cheats and Why, The Atlantic Monthly January/February 2014 More on Net Costs, Higher Ed Data Stories January 13, 2014 From our Clients: SAT, ACT or Both? The format of each test is different, and students can respond…
Ahead of the Curve: January 5, 2014
From Our Clients: More Common App Problems: January 1 is one of the common college application due dates for popular and highly selective colleges, like Stanford, Harvard, Rice, Brown, Notre Dame, Claremont McKenna, Northwestern – just to name a few. In the midnight hours starting on the East Coast and moving West, the Common Application website,…
Student Loan Repayments May Cost More Than The Amount Borrowed
Changes to repayment rules for Federal student loans offers borrowers flexibility to manage their debts, as outlined in a recent New York Times article. However, not only do the recent changes provide assistance for current borrowers, potential student loan borrowers can plan ahead. Our recommendations are outlined, alongside excerpts of the article in italics. Rising…
Salary: Only One Measure of A College’s Worth
“To get a good job,” is an oft heard reason why a student is headed to college, usually stated while their parents nod vigorously in the background. A recent New York Times article–New Metric for Colleges: Graduates’ Salaries–discusses the merits of using a college graduate’s average earnings as a measure of a campus’ value, which…
How to Reduce College Costs
The “sticker shock” of college tuition rising at 1140%, as we posted here, can overshadow the need to calculate living and housing expenses, as part of the overall costs for college. Yet, families who budget for ALL college expenses for 4 years, not just year-to-year costs, are prudent and may find ways to save money. …
More College Admissions 101
Additional insights to answer the complex questions Hewlett Packard employees asked during our second College Admissions and Financial Aid Brown Bag Lunch, since we were limited in our discussion time last week. Each topic is bolded, with the details listed below: College Application Essays The autobiographical college application essays are a meaningful part of any…
College Costs: Myth vs. Reality
A tongue-in-cheek look at rising college costs, yet gives another incentive for college bound teens to think thoroughly about their college choices.