Archive for Undergraduate
How will schools help fund families?
How exactly do all the schools start to help poor families, or even middle class?
Harvard took the lead. Two years ago, Harvard implemented a policy in which students whose parents earn a $60,000 or less no longer pay for tuition or room and board. Stanford has just adopted the same policy, adding that students whose parents earn $100,000 must only pay room and board. Stanford Financial Aid has not provided a formula for evaluating aid for students who come from families with income over $100,000.
Princeton has taken a similar approach in which it evaluates aid on a case by case basis rather than the more formulaic sliding scales that Yale and Harvard have decided to use. At Stanford and Princeton, students in the income bracket range between $60,000-100,000 can expect to pay $11,000 or less, approximately the cost of room and board.
But at Harvard and Yale, students in the income range $60,000-120,000 can expect only to pay on a sliding scale between 1 and 10% of their income ($600-12,000), which is significantly less than students at Stanford. Students at Harvard and Yale from income brackets between $120,000 and $180,000 can expect to pay between $12,000-18,000. Cooper has refused to make comparisons between higher income students at Stanford and Harvard, saying she does not want to mislead them about their potential aid package. She cautioned that aid will be evaluated on an individual basis with a number of factors including home equity, other siblings in college, and cost of living taken into account.
The new financial aid policy isolates the upper-middle class. Universities are increasing tuition fees for students who do not receive financial aid. It is called “Take from the Rich and Give to the Poor”. While the financial aid policies have made it less expensive than some state schools for students from households less than $100,000, colleges generally remains much more expensive for students from households with income well over $100,000. State schools also usually offer merit aid, which can often significantly decrease the expense for top students.
College Bills in this Economy
With the economic downturn, how will you pay for the college bill?
It could be either merit aid from the school or a simple federal financial aid. If you think your income is too high, you may not qualify the school’s aid. Of course you may fill out the federal application for financial aid, known as FAFSA. You may check the colleges’ websites to see whether there are additional requirements for merit aid; some scholarships require a separate application that may have an early deadline.
You can use the 529 college savings plan to pay for the bill of a high school junior or senior has dropped 12.5% in value over the past year. Is your 529 in cash or stocks? If it is in stocks, with the stock market like today, it will not do much. If it is in cash, it depends on when you sold the stock and convert it to cash. If you sold at the low with panic selling, since most of the money in your 529 in cash or other fixed-income investments by now, a big surge in stocks won’t help you much.
Could using 529 funds early hurt your chances of getting financial help later? Although withdrawals used to be treated as income, which is counted more heavily in financial aid formulas than savings, that’s no longer the case.
You can get a home equity loan (if you home did not have the problem of the recent collapse in home values). You could borrow at a lower rate than for federal or private college loans, and the interest expense was often fully deductible. But many banks have frozen home-equity lines of credit, even for people with a good credit score. While the credit crunch threatened the availability of college loans last year, you’ll have no problems now, thanks to swift action by Congress to keep the federal money flowing. And while the rates aren’t as cheap as on a HELOC, they’re reasonable. The best deals are on loans made directly to students. Freshmen can take out up to $5,500 in Stafford loans this year (the limit rises to $7,500 for seniors), and the top rate is 6.8%. If you need to borrow more, getting a federal loan for parents, called a PLUS, is a snap. Just about anyone with a halfway decent credit history can get one and borrow up to the full cost of attendance, minus any aid received, at a maximum 8.5% rate.
The recently passed economic stimulus legislation included a welcome provision for tuition-paying parents: an expansion of the Hope Credit for educational expenses — now called the American Opportunity Tax Credit — to $2,500, from $1,500. It will be available for the 2009 and 2010 tax years. Unlike the Hope, which could be used only for expenses in the first two years of college, this new credit can be claimed for costs over four years. And more middle- and upper-middle-income families will qualify; if you make $180,000 or less ($90,000 for singles), you’ll get at least a partial credit. (The Hope phased out if you earned more than $120,000.) You can even claim the credit if you fall under the alternative minimum tax.
There are other breaks available, like the Lifetime Learning credit (up to $2,000) and a tuition deduction of up to $4,000. But you can claim only one tax break per child each year, and the American Opportunity is the best of the bunch. One other benefit you may be entitled to: You can deduct all or part of the interest you pay on college loans, up to $2,500, if you make $150,000 or less ($75,000 for singles). Finally, the new rules from Washington also expanded the kind of bills you can pay from a 529 account to include computers and related equipment if it’s required by the college, as well as Internet access.
College Myths (Last)
This is fourth and final addition of the IQx college myth list.
Myth #16 – A lot of extracurricular activities will compensate for poor grades.
Yes, colleges do consider out-of-class activities such as athletics, student body, and drama when they review an application. However, universities first look at the academic record. The extracurricular activities generally only help after an academic transcript is looked at and it is considered to be good enough.
Myth #17 – Liberal arts colleges don’t have good science programs.
On the contrary, most liberal arts colleges have been emphasizing science for all students for over a hundred years. Since the best way to learn science is by doing science, small colleges with small classes and fewer students in the laboratories often have an advantage. As a result, far more physicians and Ph.D.s have earned their undergraduate degrees from small liberal arts colleges than larger universities.
Myth #18 – A student’s college experience will be pretty much like everyone else’s.
This is impossible and always will be. Everyone has a different life and everybody experiences many different things during their college years. When one may take five classes and only go to dances, another may take four classes and do student body leadership. A student’s experience is utterly unique in his/her own way.
Myth #19 – The federal government provides most of the financial aid.
A majority of the aid that is received from the government will come in the form of loans. For the last several years the amount of money made available in grants has been shrinking while the amount available in loans is increasing. Often, the amount available from various sources will depend on the kind of college you decide to attend- State schools will have most of their funding come from the government while private schools are often able to offer scholarships from their own funding and have more flexibility in creating financial aid packages.
Myth #20 – Colleges are concerned only with my intellectual and academic development.
Many colleges and smaller universities pride themselves on their ability to “develop the whole person”. Some of this personal development comes from requiring a broad-based general education that contributes to the understanding of the world. In some cases, personal and professional development is intentional. At these colleges, there are workshops open to students on time management, developing relationships, handling oneself at a job interview, and the responsibilities as a citizen.
College Myths (Third)
This is third of the IQx college myth list.
IQx Myth #11 – The duration of college is only four years.
This is wrong for two reasons: 1 – A student can’t trade in his/her degree for another one if he/she didn’t go to the best college for his/her first time. The college is with the student for life. 2 – About one out of five students completes college in four years. In fact, only two of five students complete college in six years. If a student plans to be out of college in four years, learn what each college’s four-year graduation rate is.
IQx Myth #12 – A student has to take only the minimum college prep courses to get into college.
Technically, this is true. In reality however, it is not. The more science, mathematics and languages a student takes, the better his/her chances are for getting into a good four-year college.
IQx Myth #13 – State institutions provide more financial aid than private universities.
State-supported colleges offer less of their own resources for scholarships and financial aid. State-supported institutions are subsidized by their respective states which allows them to charge less. However, state institutions are also more likely to only offer loans to students who do not have a high need.
IQx Myth #14 – Students can’t trust the college about financial aid.
The job of a university’s financial aid officer is to make it possible for all admitted students to attend their college while still staying within the federal guidelines. Their job is to make the financial aid package fit different students as well as possible.
IQx Myth #15 – A student’s life will be ruined if he/she doesn’t get admitted to his/her first choice college.
Thousands upon thousands of students each year do not get admitted to their first choice college. They are still here today as happy and healthy as the rest of us. Rejection is always hard on egos, but lots of others are experiencing the same. It’s a part of life. Many go on to have a great time at their second choice school and go further to have a great career.
College Myths (Second)
This is second of the IQx college myth list.
IQx Myth #6 – If a student hasn’t heard of a college or university, it can’t be a good one.
A student may not hear about many of the world’s most prestigious colleges until he/she is in his/her senior year of high school. Most universities that are broadcasted nationwide are displayed through sports. However, many of the best colleges may not be amazing at athletics and don’t get the chance to get extremely well known. Look at colleges for their merits, not for their name.
IQx Myth #7 – A student should decide on his/her career before he/she can choose a university.
In most colleges, a student can choose his/her major in his/her sophomore year and still complete the degree in four years. A surprising number of students discover their ideal field while taking a course they didn’t expect to like. Take the time to decide.
IQx Myth #8 – The best time to visit colleges is after the student has been admitted.
This is absolutely vital to the student’s happiness in his/her college. Students should visit every school that they want to attend before applying. This will determine whether they enjoy the campus and general feel of the particular university. Many students have visited after they were accepted and found that none of the colleges were ones that they would fit into.
IQx Myth #9 – Large universities have greater ethnic diversity.
If the value of diversity is to learn to understand and appreciate other cultures and groups, then small colleges often offer greater diversity. However, the ratios of the different ethnic groups are generally within 1-2% from college to college.
IQx Myth #10 – Only the highest achieving students receive financial aid from colleges.
Many students are accepted to a college, but they need financial aid. Although another student may have a better transcript, financial aid is generally saved for those who need it. There are more need based scholarships than academic or athletic based scholarships.
College Myths (First)
There are many college myths that come up when a student is choosing which college he/she wants to go to. This is first of the IQx college myth list.
IQx Myth #1 – Standardized tests, such as ACT, PSAT and SAT, are a lot more important than high school grades.
Grades demonstrate a student’s drive to learn. Universities are aware that a student’s performance in high school is a much better predictor of college success than any standardized tests. However, this does not mean that universities will throw away a student’s test scores. If a student’s scores and grades differ immensely, then the admissions officers will examine the application into more depth.
IQx Myth #2 – A student should go to the most prestigious college that he/she is admitted to.
A student should not go to a college simply for “the name” or because it ranks number two in the nation. A student should go to the school that he/she personally likes the most. This includes liking the college campus, food, environment, etc. If the student goes to the most elite university but hates everything about it, he/she will not fit in and feel miserable the whole time.
IQx Myth #3 – It is better to get good grades than take challenging courses.
Undertaking challenging classes projects to colleges that the student can handle challenging courses very similar to that of a college class. Getting a 4.0 in the minimum required classes in the high school does not display any bit of hard work or ambition.
IQx Myth #4 – Colleges need a certain amount of students, so it is easier to get accepted.
Selective private colleges and most state universities get way more qualified applicants than they can possibly accept. While some colleges may have difficulty finding students, many would rather admit fewer students than admit unqualified students. Each year, there are only about 20-30 universities in the United States that accept every applicant.
IQx Myth #5 – If a student did poorly in 9th & 10th grade he/she has a low chance of being admitted to a selective college.
One attribute universities look for in applicants is improvement. When they see a jump of work ethic, they may consider letting the 9th and 10th grade grades slide a bit. The improvement must be over time though, and one semester of change will not affect anything.
Higher Education Areas
In higher education, which is a level of education that is provided by universities, vocational universities, community colleges, liberal arts colleges, institutes of technology and other collegiate level institutions that award academic degrees or professional certifications, there are several main areas.
Liberal Arts:
• Great Books Program
• History
• Languages
• Law
• Literature
• Religious studies
Performing Arts:
• Circus schools
• College or university school of music
• Dance school
• Drama school
• Music education
Plastic or Visual Arts:
• Film school
• List of art schools
• List of art schools in Europe
• List of international architecture schools
Professional:
• Business school
• Dental school
• Journalism school
• Law school
• Library school
• Medical school
• Public policy school
• Veterinary school
Common Degrees and Their Abbreviations
A few common degrees and abbreviations:
• Associate’s degrees: AA (Associate in Arts), AS (Associate in Science), AAS (Associate in Applied Science), AGS (Associate in General Studies)
• Bachelor’s degrees: AB or BA, BFA, LL.B, BSc or ScB or BS or SB, BASc, BPhil, BBus, BSBA, BPE, B.Math, BSW, BVSc, B.Eng, BBA, B.Tech
• Master’s degrees: M.P.P., MA, MFA, LL.M, MS or MSc, MCM, M.Div., MPIA, MPS, MAS, MMus, MSSc, MBA, MPA, MHA, M.Ed or EdM, M.Eng, M.J, M.Des, Drs (Netherlands)
• Extended Research Master’s degrees: mag.art. (Denmark)
• Licentiate degrees: LDS, JCL, LP
• Specialist degrees: Ed.S., SSP, SClP
• Logistician’s degree: CPL
• Engineer’s degrees: Ch.E., C.E., E.E., Env.E., I.E., Mech.E., Nucl.E., Sys.E.
• Professional Doctoral degrees:DMD or DDM, DDS, BM BS, DPT, ND, D.C., OD,
DVM, V.M.D, M.Div., M.D., D.O., Au.D., PharmD, J.D., D.C., P.Th.D., D.Th.P., D.P.M., DProf (UK)
• Research Doctoral degrees: J.C.D., Ph.D., EdD, EngD, DTech, DBA, DPA, DHA, Dr.-Ing(Germany), DPS, D.D., D.Min., D.Th. or Th.D., J.S.D. or S.J.D. or LL.D., DPM, DSc or ScD, DSocSci, M.D., DSW
Abbreviations for degrees can place the level either before or after the faculty or discipline, depending on the college. One example is that DSc and ScD both stand for the doctorate in science. Various other abbreviations also vary between universities.
College Immigrants
Why do immigrants come to the United State for education? Do they stay in US or do they go back to their own home countries? Why should we care? Well, because immigrants are critical to the country’s long-term economic health. Despite the fact that they constitute only 12% of the U.S. population, immigrants have started 52% of Silicon Valley’s technology companies and contributed to more than 25% of our global patents. They make up 24% of the U.S. science and engineering workforce holding bachelor’s degrees and 47% of science and engineering workers who have PhDs. Immigrants have co-founded firms such as Google, Intel, eBay, YouTube, Facebook and Yahoo!.
Are those young and well-educated going back home after they graduate from universities here? Since a lot of young educated people come from China or India, people tried to find hard data on how many immigrants had returned to India and China. No government authority seems to track these numbers. But human resources directors in India and China say “what was a trickle of returnees a decade ago had become a flood.” Job applications from the U.S. had increased tenfold over the last few years, they said. To get an understanding of how the returnees had fared and why they left the U.S., a team at Duke, along with AnnaLee Saxenian of the University of California at Berkeley and Richard Freeman of Harvard University, conducted a survey. Through professional networking site LinkedIn, they tracked down 1,203 Indian and Chinese immigrants who had worked or received education in the U.S. and had returned to their home countries. This research was funded by the Kauffman Foundation. Their new paper, “America’s Loss Is the World’s Gain,” finds that the vast majority of these returnees were relatively young. The average age was 30 for Indian returnees, and 33 for Chinese. They were highly educated, with degrees in management, technology, or science. Fifty-one percent of the Chinese held master’s degrees and 41% had PhDs. Sixty-six percent of the Indians held a master’s and 12.1% had PhDs. They were at very top of the educational distribution for these highly educated immigrant groups — precisely the kind of people who make the greatest contribution to the U.S. economy and to business and job growth.
Nearly a third of the Chinese returnees and a fifth of the Indians came to the U.S. on student visas. A fifth of the Chinese and nearly half of the Indians entered on temporary work visas (such as the H-1B). The strongest factor that brought them to the U.S. was professional and educational development opportunities.
They found life in the U.S. had many drawbacks. Returnees cited language barriers, missing their family and friends at home, difficulty with cultural assimilation, and care of parents and children as key issues. About a third of the Indians and a fifth of the Chinese said that visas were a strong factor in their decision to return home, but others left for opportunity and to be close to family and friends. And it wasn’t just new immigrants who were returning. In fact, 30% of respondents held permanent resident status or were U.S. citizens.
Eighty-seven percent of Chinese and 79% of Indians said a strong factor in their original decision to return home was the growing demand for their skills in their home countries. Their instincts generally proved right. Significant numbers moved up the organization chart. Among Indians the percentage of respondents holding senior management positions increased from 10% in the U.S. to 44% in India, and among Chinese it increased from 9% in the U.S. to 36% in China. Eighty-seven percent of Chinese and 62% of Indians said they had better opportunities for longer-term professional growth in their home countries than in the U.S. Additionally, nearly half were considering launching businesses and said entrepreneurial opportunities were better in their home countries than in the U.S.
Friends and family played an equally strong role for 88% of Indians and 77% of Chinese. Care for aging parents was considered by 89% of Indians and 79% of Chinese to be much better in their home countries. Nearly 80% of Indians and 67% of Chinese said family values were better in their home countries.
School Funding
A lot of universities are struggling with endowments that are now underwater. If the current financial downturn continues, the problem will only get worse. Most states adopted a uniform law that prohibits withdrawing money from endowments that fall below their “historic dollar value” — the money given to create the endowment, plus any later gifts. The law is designed to protect endowments by preventing institutions from dipping into the principal. An endowment is supposed to be a perpetual source of revenue, with institutions drawing off only the earnings. The rule affects newer funds most severely, since they have had less time to invest a gift and build the endowment’s value.
Some donors may have intended for the principal to remain intact, but was it their intent that the students they want to help won’t get any help? Certainly there is a need to loosen the strings attached to the gifts.
In the University of North Carolina system, where as many as 70 percent of the endowments at one campus are underwater, some of the system’s 16 schools are going back to donors and asking them for one-time donations to pay for what would normally be covered by the endowment.
The University of Wisconsin system suspended payments this month from 38 underwater endowments, taking away $700,000 that would have gone for scholarships and other programs at campuses across the state. At New York University, about $10 million of $16 million in scholarship endowments is untouchable.
Because of funding problem, Brandeis University originally planned to close its Rose Art Museum and sell its more than 7,000 works, including pieces by Willem de Kooning and Jasper Johns. After much criticism, the school backed off.
There are ways to get around the law. In creating an endowment, nonprofits can enter into an agreement with the donor that allows for the use of principal in emergencies. They can also ask the donor to change the endowment’s terms retroactively, which requires a trip to court if the donor has died.
Since early 2007, 26 states and the District of Columbia have passed laws that give nonprofit organizations more flexibility in using money from endowments that are underwater. Because of the economic meltdown, 12 other states are considering such laws, according to the National Conference of Commissioners of Uniform State Laws.
Application Essays
When a student is writing his/her application essay, there are several aspects to do and not to do.
Don’t “Thesaurus-ize” Your Essay. Do Use Your Own Voice.
Admission officers can easily tell Roget from a high school senior. Big words, especially when misused, detract from the essay, inappropriately drawing the reader’s attention and making the essay sound contrived.
Don’t Bore the Reader. Do Use Interesting Language.
Admission officers have to read hundreds of essays, and they often skim. They aren’t looking for a new way to view the world; they’re looking for a new way to view the applicant. The best way to grip the reader is to begin the essay with a captivating snapshot.
Do Use Personal Detail. Show, Don’t Tell.
Good essays are concrete and grounded in personal detail. They do not merely assert “I learned my lesson” or that “these lessons are useful both on and off the field.” They show it through personal detail.
Importance of SAT Scores
SAT test scores are listed after your transcripts. While that may mean that they’re less important than a student’s grades these scores are still extremely essential. Sometimes, they can make or break an application.
In general, it’s fair to say that admission officials prefer students who demonstrate their ability to perform well in school. This information will be reflected on the transcript. Test scores are important because they help admission officers get a more focused picture of the type of student they’re looking at.
A student may barely squeeze in for a spot if his/her test scores are terrific but his/her transcript is loaded with C’s. On the other hand, the student’s favorite college may never admit the student based solely on poor test scores. For that reason, it’s a good idea to take tests seriously, even if the student has amazing grades and does not consider the tests important. Especially at the most selective colleges, the smallest differences between applications can mean the difference between an acceptance and a rejection.
Keep in mind that there are more activities to take into account than a student’s transcript and test scores
College Letters
With this economy in this shape, college admissions officers sent out record marketing letters. I know a few high school kids who receive at 20 letters per day from colleges, universities and even vocational schools. The admissions office is now busy with their acceptance notifications–sending out fancy certificates, T-shirts, tubes of confetti, or Internet links to videos of fireworks–in an effort to inspire loyalty and lock in commitments from today’s worried high school seniors. Even a traditionalist school like Kalamazoo College is printing its hand-drafted and hand-signed letters on better-quality paper and is sending out bigger packets so that acceptances will look more impressive.
For some students, that personal touch is what really makes the difference. Old-fashioned personal letters that show an admissions officer actually read the essays may actually made the difference. For others real things could be the trigger for the final decision. Which school do you want to go? Should it be the school that sent you a personal letter or the school that sent you a T-shirt? What about other things such as:
- This year the school’s acceptance package from St. Bonaventure University in western New York contains a T-shirt.
- MIT sent out a tube filled with a poster and confetti to its early admissions.
- A lot of schools are shipping bumper stickers, decals, and other knickknacks.
- Ithaca College sent out “Phat package”–a foot-long envelope emblazoned with the words “Something big is about to happen.”
- Mercyhurst College in Erie, Pa. sent out a fancy new translucent envelope holding a green linen folder embossed with the college seal and the words: “You have been accepted.”
- Baylor, Rutgers and Elon sent out suitable-for-framing acceptance certificates.
- St. Bonaventure upgraded the college’s T-shirt package this year.
What about dean letters? Are you going to cry? We have had tears and cheers at inappropriate places and times, this is unnecessarily upsetting many students and their classmates. School’s preference for electronic rejections aggravated feelings of worthlessness. The new electronic rejections–some of which are little more than “Admissions decision: Deny”–feel much harsher than the traditional letters enclosed in ominously thin envelopes. Some posters on collegeconfidential.com have complained that after all their hard work on essays, electronic rejections can feel especially brutal. Someone said he felt awful when he logged on to read “Admissions decision: Deny” and then got what he called a “hard, cold” formal rejection in the mail.
Schools hire webmasters and web designers to design new digital letters. For example videos through email a link to a video of cheering crowds and the words “Congratulations. You’ve been accepted to Elon!”. Binghamton University added flash animation to its E-mail last year. The University of Georgia greeted accepted students with a link to an animated graphic of fireworks, says this year’s fireworks will be flashier than ever. Bryn Mawr launched its video acceptance last year, is promising an even better video this year. California Polytechnic State University in San Luis Obispo provides a flashy acceptance video because studies show an average applicant applies to anywhere from nine to 12 other schools and will choose from about six offers. In addition, as a science and tech school, Cal Poly attracts applicants more fluent in text messages and Tweets than snail mail.
At IQx.com, we are going to publish some of the example acceptance and rejection letters. You will have a taste of the new buzz.
SAT (1)
SAT Exam
Because almost every college and university in the United States accepts the SAT exam as part of the admissions and placement process, more than two million students take the test every year. The SAT exam is divided into the SAT Reasoning Test and the SAT Subject Tests.
The SAT Reasoning Test assesses a student’s critical thinking, analyzing, and problem-solving skills, all of which are necessary to succeed in higher education. This test is divided into three categories: Writing, Critical Reading, and Mathematics. The Critical Reading section is further broken down into three sections, two of which are 25 minutes and one of which is 20 minutes. The Mathematics section is broken down in a similar fashion as the Critical Reading Section, with two 25 minutes sections and on 20 minute section. Time allotted for the Writing section is 60 minutes: 35 minutes for multiple choice questions and 25 minutes for students to write an essay. All of the sections are scored from 200 to 800 points. The SAT exam is administered seven times a year in the United States, U.S. Territories, and Puerto Rico. It is also administered six times a year in other countries.
The SAT Subject Tests assess a student’s knowledge, as well as his or her ability to apply that knowledge, in specific subject areas. There are currently twenty subject tests, all of which fall under the general subjects of English, history, math, science, and languages. The tests assess how well a student has mastered a subject, but the content of the exams is not based on any specific curriculum or textbook. Colleges and universities use these exams in the admissions process, as well as to advise students and for placement purposes. Some schools require specific exams while others will allow the student to choose the subject tests he or she wishes to take. All of the SAT Subject Tests are 60 minutes and are comprised of multiple choice questions. It is recommended that students take the exams at the end of their junior year or the beginning of their senior year, or as soon as the student has completed the high school class related to the subject test (for example, Physics or World History).
Students may register for the SAT exam online or via mail. Tests are administered on Saturdays; if a student cannot take the exam on a Saturday because of religious observance, he or she can take the exam on a Sunday. Students who are registering to take the exam on a Sunday for the first time, are younger than thirteen, are requesting to test closer to home (because the nearest testing site is at least 75 miles away), or plan to test in Benin, Cameroon, Ghana, Kenya, Nigeria, or Togo, must register with a paper application via mail. There is a fee of $41.50 to take the SAT Reasoning Test, which includes up to four score reports sent to colleges and universities. For the Subject Tests, there is a basic fee of $18.00, a fee of $8.00 for each additional exam, and an additional $19.00 for Language Tests with Listening.