Spring of senior year is a critical time in the college admissions process, in some sense, more pivotal than the application period, for a strategic blunder can be costly: misallocating 17 years of preparation for higher education, malinvestment of tens of thousands of dollars in tuition, and economic malaise that could last a lifetime. Seniors…
Since March 2020 and extending through May 1, 2022, payments and interest on all Federal education loans, both student loans and Parent PLUS loans have been suspended as parts of various COVID-related economic relief policies. Borrowers have not been obligated to send payments, and for anyone already behind in their payments, no additional penalties have…
As of First Quarter 2021, 3.8 million 20-24 year olds are not in school nor employed, 740,000 more young adults adrift than in First Quarter 2020. While wondering, “Where are they?”, more disturbing to consider is, “What are the long term consequences of a delayed entry into adulthood?” First, dismay may be transforming into disaffection.…
Federal student loan interest rates, the cost of borrowing money to be paid at a fixed rate over the life of the loan, are set by adding 2.05% for undergraduate loans to the 10 Year Treasury Rate after the last May auction each school year. [For the upcoming 2021-22 school year, loan interest rates will…
Many students, each year apply and believe they should be admitted to an elite college—defined statistically by yield, selection rate, and its inverse, rejection rate. So when reality dawns in the spring and applicants realize instead they are part of the 95% of those who will not be admitted to an elite college, they are…
Now accepted to a variety of colleges, the complex work of building consensus toward a final choice begins. Families should seek to select the college with the most opportunities where a student to discover or gain confidence in an inherent aptitude. Thus, I strongly encourage families not to rush the college decision, so as to…
The 1200% increase in college tuition over the last four decades, outpacing inflation by nearly 1000%, is Reason Number One parents often anxiously ask me about how their kid can apply for scholarships. As the conversation unfolds, many often also reveal having saved some for their children’s college expenses, though the amount is woefully inadequate,…
For many higher education institutions, like the University of California (UC), the fiscal losses are growing as the health emergency extends, precipitating the need for a tuition increase. As reported in a December 12 Los Angeles Times article: Systemwide, UC took a $2.7-billion financial hit between March and October — about 6.5% of its $41.6-billion…
The difficulties for those in the younger generations to generate wealth are consequences of a structural shift in the U.S. economy in the last forty years, well before today’s late Boomer and Gen X parents entered the labor market as twenty-somethings. As highlighted in a recent Federal Reserve Bank research paper, “Market Power, Inequality, and…
The costs of childcare and college have outpaced wage increases in the past 20 years. So, a growing percentage of a family’s budget is spent caring for children, including paying for educational opportunities, like extracurricular activities as well as college tuition, in hopes of propelling kids toward a sustainable economic prosperity. Yet, as more of…
The middle class, and those aspiring to the middle class, families are incurring ever increasing amounts of debt to pay for consistently rising costs of attending college which many believe essential to achieve economic prosperity. Subsequently, to compensate for stagnating academic achievement in order to compete for college admissions, middle class parents are spending on…
Caption: Jen Grantham/Getty Images/iStockphoto Although the causes behind the shrinking of the American middle class are complicated, the interdependent, economic relationship with the modern American educational industrial complex is not in doubt. As academic achievements plateau at the average, middle class families are spending more funds to supplement educational experiences, like extracurricular activities. Additionally, greater…
The American middle class is shrinking, as educational achievement plateaus at the average level of attainment and more middle class families compensate the lagging educational achievement with discretionary spending on extracurricular activities and supplemental academic support services. By the late 1970’s, the collapse of American manufacturing sector made way for the meteoric rise of the…
The American middle class is shrinking in comparison to nations around the world. Yesterday, I proffered the view that those Americans wishing to sustain or aspiring to achieve a middle class standard of living may not be obtaining the academic preparation necessary, especially as indicated by their average performance on international educational assessments. Yet, their…
Like I posited a few days ago, “Why is the American middle class shrinking?” Firstly, it can be argued that personal success, whether economic or humanistic, requires the acquisition of knowledge and the application of such knowledge. However, rote memorization and regurgitation on cue, skills necessary to compete in the modern American academic meritocracy, yet…
