Recently, Art and I reflected about the effects of COVID-19 for our company and in our history. As an educator in private practice, I have pivoted frequently not only to meet the needs of clients, but remain competitive in the near perfectly competitive educational support industry. I, working with my partners have continuously sought to improve, in order to most…
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 operating budget, mainly from lost…
Private universities discounted tuition in the form of merit scholarships and grants nearly 50% on average in the 2019-20 school year. Furthermore, tuition discounts for the 2020-21 school are forecasted to be 52.6% for full time, first year students, according to data from National Association of College and University Business Officers (NACUBO). And, in the current COVID-induced disruption of higher…
The sentiments of a current second-year college student attending a public flagship university in California when reflecting on the perils of the academic meritocracy: Rewarding/punishing requires less effort [by faculty and students] though, making it the easier default [system for measuring academic performance]. Assigning expectations, whether positive or negative, is a low-effort path that leads to lots of power/authority [on…
So, said Warren Buffet, net worth $86 billion. Tuition can be a measurement of value, as in, “What’s the value of the education for the number of dollars exchanged?” When families question the “affordability” of a particular college, as in, “Do I have enough money to pay for X College?”, they’re in essence determining the value of one college’s education for…
Updated: November 2020 from the original posted in July 2018 The short answer is yes…with an *. [See Below] But, like any life-impacting decision, the short answer doesn’t account for the complexities of choosing a college. And, the last three words are what’s most important to keep in mind: YOU, the applicant, are the one who’s doing the choosing of…
The 2021-22 Free Application for Federal Student Aid, commonly known as the FAFSA, which U.S. universities use to determine what, if any, financial assistance for families, opened on October 1, 2020. Parents and students can submit the form online, only requiring some time and patience to complete, what can, on first glance, be reminiscent of a complex tax form. Furthermore,…
The Modern College, a place where students guided by mentors, supported by peers, experiment with adult responsibilities, free to discover their life’s purpose, only impersonates its Pre-COVID self. To mitigate health risks of the pandemic, in March and again in Fall 2020, university administrators are restricting students’ freedoms, for which they believe they must, yet, in doing so, their actions…
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 middle class wealth is spent…
Federal student loan interest rates for the upcoming 2020-21 school year will be set lower than the 2019-20 school year. The 2020-21 rates will be as follows: Undergraduate Direct Loans: 2.75% Graduate Student Direct Loans: 4.3% Parent PLUS Loans: 5.3% Student loan interest rates are set annually and apply to any loan taken during that school year. The interest rates…
On May 11, administrators at Northwestern University, a 169 year old institution, ranked #9 National University according to US News & World Report with a $10.8 Billion endowment fund, announced expense reductions, including: furloughing 250 staff, halting hiring, suspending contributions to pensions, as well as cutting salaries for university administrators. For the second year in a row, Northwestern administrators are…
Last Thursday, May 14, California Governor Newsom announced 2020-21 budget revisions, including cuts to higher education, given the projected $54 billion loss of state revenues. Although he proposes a $376 million cut to the University of California (UC) system affecting 285,000 students and a $404 million cut affecting 500,000 California State University (CSU) students, the $1 Billion cut to California’s…
In my recent conversation with Ron Kroichick of the San Francisco Chronicle, I discussed the changes to the college admissions process starting in Fall 2021, as well as sentiment about the value of a college education. Although colleges are non-profit organizations, which in the collective culture are imagined to be altruistic endeavors where the potential of the young is discovered,…
In 2019, average state funding per full time college student was still lower than the 2009 levels, the beginning of The Great Financial Crisis. Given projected reductions in state revenues for 2020, higher education leaders will likely again experience reductions in state subsidies starting this fall, as we discussed earlier. Students would be wise to understand how reduced funding may…
As state revenues shrink, the subsidies to public K-12 schools and higher education systems will shrink proportionately, effectively increasing the (or likelihood of) fiscal deficits for educational institutions. In a recent Bloomberg News article discussing the economic state of affairs in California, the fifth largest state economy in the United States: California Governor Gavin Newsom said the economic slowdown caused…
