At some universities, SAT and ACT scores are used to award merit scholarships, in addition to being a metric for admissions. (Merit scholarships are awarded regardless of a student’s family’s financial status and based on an applicant’s qualifications, like GPA and SAT or ACT scores.) Many parents are concerned that their children will miss merit scholarship opportunities, if they do…
In the current economic backdrop, where the median view of economists predict a near 5% year over year decline in GDP (total amount of goods and services produced in the American economy) for 2020 (officially a recession), where both initial and continuing unemployment claims stubbornly loom above their longer run average, and though the economy seems to have bottomed, a…
In just the last 13 weeks, more than double the 25 million jobs created in the last decade have been lost. With the total supply of jobs not in equilibrium to demand, a job shortage exists, so anyone searching for a job will be competing more than at any time in the last decade against others equally in need of…
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…
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…
University enrollment has annually grown, despite four digit percent increases in the costs of college over the last three decades, seemingly making an inelastic demand for college eduation. Yet, for the 2020-21 school year, for the first time, there may be a a shift in the supply/demand equation given the changes in the recruitment for the newest class of students,…
Ahead of the traditional, widely accepted national enrollment deadline of May 1 for first year college students, although some colleges have extended the enrollment deadline to June 1 due to the COVID-19 health crisis, college admissions officers are already extending offers of admissions to waitlist candidates. I contacted two different admissions officers on the West Coast and another in the…
The continued COVID-19 health crisis, and its impacts both economically and socially may have wide-ranging consequences for colleges throughout the United States. Families confronted by an array of changing circumstances are recalibrating their educational decision making processes, especially for high school seniors choosing between multiple colleges or deferring enrollment, as well as continuing college students choosing to re-enroll or take…
In Parts 1 and 2, sentiment amongst college students and prospective college students may already be declining, which could be exacerbated even further, as we weather the current global pandemic with closed college campuses and students dispersed to their childhood homes. Additionally, the last of the Millennials are now college graduates, but experiencing a current 41% underemployment rate, meaning they…
While Mom always warns us not to eat too much fast food, Burger King’s recent offer may change her mind. Given the historically record setting $1.5 Trillion total student loan debt, Burger King is offering 301 of the 44 million Americans with student debt some relief–up to $100,000 for one lucky person and $500 each to 300 others. So, maybe…
Parents, no matter their net worth, readily take risks, if they believe their children will benefit. And, the risks parents will take know no bounds—as seen in those facing federal prison trying to guarantee a college admissions to those who go into debt to pay for extra-curricular activities. However, why are parents so willing to take such risks for their children?…
“Helicopter Parenting” has become a norm, which can delay adult children taking responsibility for themselves. More colleges staff are now sponsoring a PTA-like “College Parent Groups”. Adult children can also tie themselves to mom and dad; some request editorial advice on college papers through Google Documents. And, as no parent wants their child to suffer, parents lend their support. But,…
Often students earn college degrees to increase their likelihood of future financial stability. Yet, as college costs are rising, students and their parents subsequently are borrowing more to earn said degree, thus students “spend” the equivalent of a few years’ of post-graduation wages while parents may delay retirement, the question is, “Is college worth the cost?” According to a recent…
Rumors are circling and the internet is again buzzing with controversy about the August 25, 2018 SAT Reasoning Test. The College Board is accused of “recycling” the August 2018 SAT from a test or practice test given in China and South Korea in October 2017. A recently deactivated Reddit thread posted an answer key and test which appeared…
Wonder no longer…
