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College Tuition Increases Slow, Government Aid Falls

by Suada Kolovic

High school seniors heading to college in the fall, listen up: The average cost at the nation’s four-year public universities rose 2.9% this year, the smallest annual increase in more than three decades (yay!) but the slowdown in tuition increases have been offset by reductions in federal grant aid (boo!).

According to a new report from the College Board, public colleges have raised tuition prices so sharply in recent years not to gouge students but to bank on the increased state aid. And although the increase is moderate, "this does not mean that college is suddenly more affordable," says economist Sandy Baum, co-author of Trends in Higher Education reports on tuition and financial aid. "It does seem that the [upward tuition] spiral is moderating. Not turning around, not ending, but moderating." Unfortunately, students continue to suffer from the constant cycle of rising costs and serious college debt. Shrinking state aid for public colleges and universities has translated into the cost of public schools to jump $1,770 in inflation-adjusted dollars. The amount of government aid received last year fell $6,646 for every full-time student at those institutions while just five years ago, each student received $9,111 in today’s dollars. (For more on this report, click here.)

If college is in your forecast, what do you make of the report’s findings? Let us know in the comments section.


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Study: Majors Are More Important Than Where You Went to College

by Suada Kolovic

With fall semester in full swing, high school seniors are mere months away from deciding where they’ll spend the next four (or more) years. And while there are multiple factors to consider when making such a major decision, most would argue that prestigious universities and high-earning salaries are intrinsically tied...or are they?

According to a recent study by College Measure, students who earn associate degrees and occupational certificates often earn more in their first year out of college than those with traditional four-year college degrees. Examining schools in Arkansas, Colorado, Tennessee, Texas and Virginia, the study found that short-term credentials such as two-year degrees and technical certificates were worth more than bachelor’s degrees in a graduate’s early years. College Measures President Mark Schneider said, “The findings challenge some conventional wisdom, showing for example that what you study matters more than where you study. Higher education is one of the most important investments people make. The right choices can lead to good careers and good wages while the wrong ones can leave graduates with mountains of debt and poor prospects for ever paying off student loans.” (For more on this study, click here.)

It’s important to remember that the study focuses on short-term gains as opposed to long-term/lifelong earnings. It’d be interesting for College Measure to reexamine their findings over the next few years but what do you think of its current report? Share your thoughts with us in the comments section!


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Top Colleges with the Highest Rate of Student Internships

by Suada Kolovic

Five years after the financial crisis, recent college graduates (and folks in general!) still find themselves struggling with a stagnant job market. And with the slow pace of job growth looming, internships are a great way to for students to boast their resumes, gain experience in their fields of study and become more viable candidates once the economy does improve. Plus, according to a survey of more than 1,000 employers, 56.5-percent made full-time offers to their interns just last year. So if you're looking for a college that makes internship participation a priority, check out U.S. News and World Report's top colleges with the highest rate of undergraduates graduating with internship experience below:


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Top 10 Highest Paying College Majors

by Suada Kolovic

An important consideration when choosing a major is the possibility of gaining lucrative employment following graduation. In a perfect world, the best college major would simply be the one that interests you the most, period. Naturally, your level of interest in the field should be weighed more heavily than any other, as this is something of which you intend to make a career. If you’re really passionate about a certain field that won’t necessarily have you retiring early (social workers, for example, make an average of $39,400 per year), don’t let a potential salary sway you. Helping others or entering a career you love is priceless, and many of the careers below will require some study beyond undergraduate school for you to advance in those fields. But if you have a particular knack for math or science and aren't necessarily sure where those skills would translate best, consider the kinds of careers that could offer a generous return for your investment.

Listed below are the 10 highest-paying college majors as of 2013. The list comes courtesy of the National Association of Colleges and Employers (NACE), which conducts surveys of college graduates’ job offers.Data for the NACE survey are reported by employers, represent accepted starting salaries (not salary offers), and are produced through a compilation of data derived from the U.S. Bureau of Labor Statistics, the U.S. Census Bureau, and a master set of data developed by Job Search Intelligence.

  1. Petroleum Engineering ($93,500 average starting salary)
  2. Computer Engineering ($71,700 average starting salary)
  3. Chemical Engineering ($67,600 average starting salary
  4. Computer Science ($64,800 average starting salary)
  5. Aerospace/Aeronautical/Astronautical Engineering ($64,400 average starting salary)
  6. Mechanical Engineering ($64,000 average starting salary)
  7. Electrical/Electronics and Communications Engineering ($63,400 average starting salary)
  8. Management Information Systems/Business ($63,100 average starting salary)
  9. Engineering Technology ($62,200 average starting salary)
  10. Finance ($57,400 average starting salary)

While in the process of conducting your scholarship search at Scholarships.com, you might want to consider one or more of the following majors, just to keep your options open. Our free college search can also help you find colleges and universities that offer programs in any of the top 10 highest-paying college majors.


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President, FLOTUS Push for More Access to Higher Education for Low-Income Students

by Suada Kolovic

Higher education has always been a top priority for President Barack Obama. Back in February 2009, he told Congress, “By 2020, America will once again have the highest proportion of college graduates in the world.” Five years later, whether or not we as a nation will achieve that benchmark remains unseen but he believes that reaching out to low-income students may be just the key to getting there.

On Thursday, President Obama and First Lady Michelle Obama met with more than 80 college presidents and dozens of nonprofits committed to raising the number of low-income students who attend college. “We want to restore the essential promise of opportunity and upward mobility that’s at the heart of America,” he told the group. "To that end, young people, low-income students in particular, must have access to a college education." The participating schools have agreed to take action in one of four areas: connecting young people to schools that are right for them; early intervention to ensure a larger pool of students prepare for college; more college advising and test preparation; and more on-campus remedial education. And while President Obama’s various education initiatives are ambitious, it doesn’t appear to be lost on him that there is much more work to be done to get college degrees in the hands of more American students, regardless of their economic class. (For more on this story, click here.)

What do you think of the President’s education push? Let us know in the comments section.


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Stock Market Recovers While Youth Unemployment Rate Remains Stagnant

by Suada Kolovic

Six years after the recession began, the stock market is officially recovering. And while that’s great news for investors, it hasn't translated into a thriving work force for recent college graduates. In fact, the unemployment rate for millennials ages 18 to 29 in the U.S. has remained in the double digits and the percentage of young workers without employment is close to double what it was when the recession first hit. But why?

The New York Times reported that with millions still out of work, companies face little pressure to add employees while productivity gains allow them to increase sales. The result: a solidified golden age for corporate profits. So while buoyant earnings are rewarded by investors and make American companies more competitive globally, they are not converting into additional jobs at home. It’s also important to note that the Federal Reserve has played a crucial role in propelling the stock market into record heights, even if that wasn’t the intention. The Federal Reserve has made reducing unemployment a top priority but in practice, its policy of keeping interest rates low and buying up the safest assets to stimulate the economy means that investors are willing to take on more risk in search of better returns. “The Federal Reserve has done a good job stimulating financial conditions and lifting the market,” said Ethan Harris, co-head of global economics at Bank of America Merrill Lynch. “It’s been less successful in stimulating job growth.”

What are you thoughts on the unemployment rate among recent college graduates? What can be done to change the not-so-current trend? Let us know in the comments section.


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Top Issues Millennials Want Discussed in State of the Union Address

by Suada Kolovic

For those of you that don’t closely follow politics, tonight President Barack Obama will deliver his fifth State of the Union address. If you aren’t familiar, the address not only reports on the condition of the nation but also allows the President to outline his legislative agenda and national priorities. And with potentially millions of young Americans watching, we wondered what issues mattered most to Millennials? Fortunately, Generation Progress asked them just that! Check out some of the top responses below: (For the full list, head over to Generation Progress.)

  • A solution to the student debt crisis. With 40 million Americans shouldering $1.2 trillion dollars in educational debt, Millennials want to see President Obama call for ways to address this crisis.
  • Create a fair economy that shrinks the income inequality gap by raising the minimum wage to $10, maintains federal government programs like unemployment benefits, expands the U.S. apprenticeship system, supports young entrepreneurs to create new business and reinvest in national service programs like AmeriCorps.
  • Every state needs to expand Medicaid under the Affordable Care Act (ACA), so young Americans can purchase affordable health care plans with subsidies Medicaid provides via the law.
  • Invest in green jobs while addressing the effects of climate change.
  • Enact common-sense gun legislation such as mandatory background checks.

What do you think of the top issues that Millennials want discussed? Any you would add? Let us know in the comments section.


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Top 10 Highest Paying Internships

by Suada Kolovic

For a college student, an internship is viewed as a rite of passage, a box that must be checked, a prerequisite for future ambitions. And while obtaining an internship is a success in its own right, finding one where you’ll be compensated in something other than experience and a reference is a challenge…but not necessarily impossible. A new report from Glassdoor lists the highest-rated companies that not only pay their interns but pay them extremely well. Check out the top 10 companies that made the cut below (for the complete list, click here):

  • Exxon Mobil: Average Monthly Base Pay - $6,506
  • VMware: Average Monthly Base Pay - $6,435
  • Facebook: Average Monthly Base Pay - $6,197
  • Google: Average Monthly Base Pay - $5,910
  • ConocoPhillips: Average Monthly Base Pay - $5,779
  • Microsoft: Average Monthly Base Pay - $5,703
  • Amazon: Average Monthly Base Pay - $5,387
  • IBM: Average Monthly Base Pay - $5,295
  • BlackRock: Average Monthly Base Pay - $5,138
  • Yahoo: Average Monthly Base Pay - $4,983

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Which Colleges Are Worth the Sticker Price?

Colleges with the Highest Return on Your Investment

March 28, 2014

by Suada Kolovic

With all this talk about possible Pell Grant cuts, acceptance rates plummeting and universities facing serious tuition hikes, which schools are worth the outrageous sticker price of about $200,000? According to PayScale.com’s annual survey of colleges with the highest return on investment rates, Harvey Mudd College tops the list with a 8.8% annual return. PayScale.com’s data is pulled from 1.4 million pay reports from persons who obtained bachelor's degrees in the last 20 years, for more on their methodology click here. Check out who made the cut below:


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by Suada Kolovic

High school students, as you move further into your senior year and really start making decisions that will shape your future – what college you'll attend, how you'll fund this endeavor and what you’ll possibly major in – it dawns on you: “OMG, I’m officially an adult.” And with that realization comes the fact that very soon, you'll no longer (legally) be the responsibility of your parents. Well, not everyone is willing to accept that as their reality: A New Jersey teenager who was financially cut off following her 18th birthday is suing her parents for immediate support, current private school fees and future college tuition.

For months, Rachel Canning has been living with the family of her best friend and classmate, Jaime Inglesino, whose father, attorney John Inglesino, is bankrolling Rachel's lawsuit. Rachel, an honor student who plans on becoming a biochemical engineer, has asked the court to order her parents to pay an overdue $5,306 bill from Morris Catholic High School, finance her living and transport expenses, and grant her access to an existing college fund. Her father, Lincoln Park town administrator and retired police officer Sean Canning, says that his daughter would not abide by a set of household rules and was therefore cut off financially. "She's demanding that we pay her bills, but she doesn't want to live at home. We're heartbroken, but what do you do when a child says, 'I don't want your rules, but I want everything under the sun and you to pay for it?'" (For more on this story, click here.)

While it's not unheard of for young adults to take legal action against their parents, what do you think Rachel's case? Should parents be financially responsible for their child's college education? Let us know your thoughts in the comments section.


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