One of the reasons I wrote Beating the College Debt Trap is that it seemed to me that millions of Americans don't know how the whole paying for college thing works. The system is intimidating, confusing, and complicated, so they stay clear of it altogether. A July 2015 study from the Urban Institute confirms my suspicions. As the U.S. News & World Report summarized: "A new study details how college is surprisingly affordable for the lowest income Americans. Yet fewer than half of them enroll in college, and 12 percent of those who do enroll fail to apply for financial aid." Here's … [Read more...] about Low-Income Americans’ Kids Can Go to College for Free
Practical Ministry
Why more teenagers and college students need to work while in school
Jeff Selingo is right: Too few college students hold a significant part-time job before graduation. As a result, they struggle with professionalism in the work place. Selingo reports that "the number of teenagers who have some sort of job while in school has dropped from nearly 40 percent in 1990 to just 20 percent today, an all-time low since the United States started keeping track in 1948." Why aren't more students working? Reasons include a poor labor market for teens and the fact that minimum wage earnings don't go far relative to escalating college prices (tuition, fees, textbooks, … [Read more...] about Why more teenagers and college students need to work while in school
Why Write Another Book for College Students?
After writing Thriving at College, why write another book for students? How does Beating the College Debt Trap differ from Thriving at College? Thriving at College is about making the most of the college years, about using that season in life as a launching pad into all that’s associated with responsible Christian adulthood. But while I briefly addressed money management skills, the whole idea of paying for college is more or less assumed. In the four years since I wrote Thriving at College, the economics of college have continued to evolve. In 2013, a majority of families (57 percent) … [Read more...] about Why Write Another Book for College Students?
Colleges Coddle Students, Too
Great piece by Jeff Selingo. The opening: An article in this week’s Washington Post nicely summarized a new book on the failings of helicopter parenting, especially when it comes to preparing kids for college. But parents shouldn’t shoulder all the blame for why college students seem incapable of taking care of themselves these days. In the past decade, college campuses have turned into one big danger-free zone, where students live in a bubble and are asked to take few, if any, risks in their education. Read the whole thing. It's excellent. Students need objective, regular, and (when … [Read more...] about Colleges Coddle Students, Too
Repayments Rates are More Telling than Default Rates
Cohort Default Rate (CDR) is the federal government's standard accountability metric for colleges. It refers to the percentage of a college's graduates from a specific year who default on their student loans. The problem is it's a super-easy test to pass: As long as fewer than 40 percent of your alumni default on their student loans within three years of entering repayment, and as long as your CDR doesn't go above 30 percent for three straight years, you're good. That's why only 11 colleges have been penalized in the last decade--even though almost 500 colleges had CDRs over 25 percent in … [Read more...] about Repayments Rates are More Telling than Default Rates
Living With Your Parents: How to Make It Work
Boundless just published an article I wrote for them on living with parents as a young adult--the good, the bad, how to make it work. Here's the opening: So it happened. You thought you'd be on your own by now, but you're not. Whether you're trying to land a steady job, get out of debt, or finish college on the eight-year plan, if you're living with your parents as a 20-something, you're not alone. More than a third of 18 to 31 year olds are living with their parents, according to the Current Population Survey. Maybe you can't move out — and shouldn't. Your parents' health or finances are … [Read more...] about Living With Your Parents: How to Make It Work