Good WSJ article today on a concerning trend: The share of college costs paid by parents out of income and savings fell to 27% from 37% three years ago. What's picking up the slack? Looks like university scholarships, student loans, and relatives/friends: Two other highlights: In 2013, 57% of families reported a student living at home or with a relative, up from 43% three years ago. Students from low-income households have traditionally lived at home in larger numbers, but among families with incomes over $100,000, the share of students staying at home has doubled to 48% since … [Read more...] about Parents Shell Out Less for Kids in College
Culture
Hero Worship and Holy Emulation
John Piper wrote a few years ago on the important distinction between hero worship and holy emulation. Here's an excerpt: What is the meaning of the attention given to well-known pastors? What does the desire for autographs and photographs mean? The negative meaning would be something akin to name-dropping. Our egos are massaged if we can say we know someone famous. You see this on blogs with words like “my friend Barack” and the like. And I presume that, for some, an autograph or a photo has the same ego-boost. However, I don’t assume the worst of people. There are other possible … [Read more...] about Hero Worship and Holy Emulation
President Obama Speaks on Trayvon Martin
President Obama surprised the press pool today by making a 16-17 minute (seemingly off-the-cuff) statement on the tragic death of Trayvon Martin and the subsequent ruling in the George Zimmerman trial. Frankly, I was impressed to see the President employ his considerable oratorical powers to give the larger context as to why the Zimmerman ruling has resulted in such powerful reactions from so many people. Even if one agrees with the Zimmerman verdict, it's helpful to understand why others are frustrated, and Obama explains it well. Take a listen for yourself. His remarks received a warm … [Read more...] about President Obama Speaks on Trayvon Martin
What’s a College Degree Worth?
College is expensive. Is it financially worth it? Yes, but you need to graduate, and the return on investment depends on the degree. Here's a helpful and accessible article by Dr. Jonathan James of the Federal Reserve Bank of Cleveland. He breaks down the wage premium of a bachelor's degree and an advanced degree as compared with a high school degree. He also looks at the choice of a college major, explaining that the "differences in the college major premium are as large as the college wage premium itself." Here's one of his figures: … [Read more...] about What’s a College Degree Worth?
Importance of Vocation for College Students
An exceptional speech entitled "Renewing the Wellsprings of Responsibility," was given in 2009 by Dr. Nathan O. Hatch, President of Wake Forest University. The immediate context was the collapse of the housing industry and associated sectors: The current economic turmoil is taking its toll on jobs and psyches on Wall Street and on Main Street. It will also slam shut the easy routes to fame and fortune that many students have enjoyed. But now we’re left with the question: what happens when the rewards aren’t there? When the applause stops and the checks shrivel? Students will be forced to … [Read more...] about Importance of Vocation for College Students
Interview with Paul Tough on How Children Succeed
I really enjoyed Paul Tough's book How Children Succeed. I highly recommend it to parents and educators alike. I'm thankful he was willing to briefly interact with me on a few questions. You argue against the theory that IQ determines a person's academic outcome. What role, if any, do you see for nature (innate talent)? For example, taking as a given that grit, curiosity, and delayed gratification are vitally important to success, would you acknowledge that some have more innate talent than others in (say) mathematics? Or would you argue that what determines who does better in math is … [Read more...] about Interview with Paul Tough on How Children Succeed