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  • Ivy League Over Rated

    At this very moment, all over the country and potentially the world, high school students and their parents are planning and scheming to get into an Ivy League. Young people are groomed practically from birth to be attractive to mysterious and all-powerful admissions committees guarding the gates of the eight universities that comprise the “Ivy Leagues”.

    This is now so common, there is even a psychological malady known as “The Yale Syndrome”, a sort of obsession with college admission that creates an unusually proximate time horizon for a young person, the moment of college admission. Students who suffer from this affliction do not develop a plan for success in college, or in any aspect of their lives, beyond the arrival of that “fat envelope” detailing their acceptance. Oddly, they share many of the same concepts of time as terminally ill cancer patients.

    Parents view admission to one of these schools as a high grade on their parenting skills, and correspondingly view rejection as a low or failing grade. There is a great gnashing of teeth about the whole endeavor. But seldom does anyone really ask the question: “Are Ivy League schools over-rated?”

    How did this national obsession come about? First, let’s define what the Ivy League is. In one sense, the Ivy League is a collection of geographically proximate schools that formed a football conference in 1956. If you look at it another way, the Ivy League is a collective brand representing the pinnacle of American higher education. This is the Ivy League: Brown, Columbia, Cornell, Dartmouth, Harvard, Princeton, the University of Pennsylvania, and Yale. No other school is a member, in spite of what some alumni may claim.

    The Ivy League has not been a focus of fevered longing for very long. For most of this nation’s history, college was a local endeavor. The best and the brightest did not go far to go to college. Then, a convergence of societal trends in the late part of the last century quietly nationalized education, without anyone really noticing. The advent of cheap air travel–and the breakdown of regional differences due to television and the migration of educated workers throughout the country–combined to make bright young people look nationally for college choices. So this collection of venerable schools became a focus of their attentions. The problem is that young people and their families didn’t catch on to the level of competition that this change entailed.

    As college became a middle-class right instead of an upper-class privilege, a lot more students wanted in to what they perceived to be the most elite schools. One Ivy League school now rejects over 90 percent of the students who apply, and rejects over half of the students who apply with perfect SAT scores. Think about that.

    That’s where we are today. Everyone in the country wants into the same handful of schools. But what do you get with an Ivy League education, especially as an undergraduate? Is it really the best in the country? These are undeniably good schools, but there are also one hundred other schools that do as good or better a job at educating undergraduates.

  • Financial Aid – Premier Schools

    Stanford’s announcement came two months after Harvard publicized its expensive new financial aid policies and over a month after Yale and Dartmouth followed suit with their own. Since Harvard’s announcement in December (at which time it saw its application rate spike by 19 percent), other top ranked schools including Williams, Princeton, Swarthmore, Cornell, Northwestern, University of Pennsylvania, Bowdoin, Pomona, Cal Tech, Duke and Davidson have announced new financial aid policies in what some people consider an effort to “keep up with the Harvard’s.”

    Similar to Harvard and many other elite universities, on February 20, Stanford University announced a new financial aid policy dramatically increasing the eligible amount of aid for middle-income families. The announcement comes as the latest in a series of policy revisions over the past three years designed to ease the burden of paying a tuition averaging $47,000 a year and to ensure that no high school student considering applying to Stanford decides not to because of cost.

    In addition, the plan also calls for eliminating student loans. All students qualifying for need-based financial aid no longer need to take out the expected $4,000 loan before receiving money from the scholarship fund. Beginning in the 2008-09 school year, students are only expected to earn $2,500 from working during the school year and earn approximately $2,000 over the summer.

    Each fall, the financial aid program is reevaluated by the Financial Aid Office, the Dean of Admission and Financial Aid, the Budget Office, the Provost, and the President, with consultation from the Board of Trustees. Cooper added, “There are no specific plans in the works for more changes at this time. We will be evaluating the success of our current changes next fall.”

    The changes were made possible through an increase in the endowment payout and doubling the financial goal of the Stanford Challenge, an effort to increase fundraising for the university, to $200 million. The Board of Trustees approved the increase in endowment payout from 5% to 5.5%, or by $160 million, on June 14, 2007, at the time intending to fund capital improvement projects.

    The announcement follows the House of Representative’s passing of the College Opportunity and Affordability Act, which aims to expose the allegedly corrupt relationship between expensive colleges and loan agencies and give greater transparency to the consumer. The Senate has put forth its own version of the bill. If passed, the law would require colleges to report financial information that Stanford University officials claim to be unproductive and difficult, namely revealing the rate of their endowment spending.

    Many people believe Stanford’s increase in endowment spending on financial aid from five to 5.5 percent this year is aimed to counteract the repealed provision of the College Opportunity and Affordability Act that would have required colleges to spend at least five percent of their endowment on financial aid. But the Board of Trustees approved the increase in endowment payout in June, nearly five months before the act’s proposal. As far back as 2003, Republicans had been discussing a bill that would penalize colleges that raised tuition significantly faster than inflation.

    These policy revisions have also coincided with and followed those of other top ranked schools. In 2006, Stanford eliminated educational costs for families earning less than $45,000. Harvard had enacted a similar policy in 2004 and Yale in 2005.

  • Applying Early

    Finally a student has cut down the list of schools and is considering applying early to get the ball rolling on his/her college plans. Typically, there are three ways that a student can apply early and some universities may offer more than one of the following options:

    • Early Action (EA), which allows a student to apply to more than one school early and gives him/her an early answer about his/her acceptance. EA applications shouldn’t be used liberally by applying this way to every school on a student’s list. Having the ability to submit multiple EAs doesn’t mean the student should feel free to overuse it.
    • Early Decision (ED), which also gives a student an early answer, but restricts him/her to applying ED to only one school and requires that the student will guarantee up front that (s)he’ll enroll if he/she is accepted. If the student is, that student must withdraw his/her applications to any other colleges. He/she is committed to the school and can’t apply anywhere else, even during the regular admission season.
    • Single Choice Early Action (SCEA) or Restrictive Early Action (REA) is the newest option, which limits a student to applying early to only one school to get an answer in advance about acceptance. It’s not binding, but restricts the student from applying anywhere else under an EA or ED application. The student can apply elsewhere during regular admission and does not have to make a decision to enroll until the school’s regular deadline.

  • UC Schools New Ethnic Acceptance Plan

    Recently announced by Mercury News, UC Schools will now be accepting a lower percentage of asian and oriental heritage. In addition to this, UC schools have agreed to accept more African Americans, Hispanics and Caucasians. This is because students with asian background are taking up a larger majority of the UC universities every year. California wants its colleges to be more diverse and therefore implementing this plan. UC has also agreed to eliminate SAT subject tests as a requirement and to consider “lower-ranking” students more.