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College Affordability & Cost

College students may get break on textbook expenses USA Today July 30, 2010 Thanks to a new law that took effect this month, colleges must release required book lists at the time of class registration. Publishers must disclose prices and revision information to schools.  Proponents say the law will give students more time to take advantage of textbook buy-back programs, book rentals and prices that are often lower online than in college bookstores. They expect it will also force professors to pay more attention to the cost of books they assign.

AP-Univision Poll: College dreams for Hispanics AP July 29, 2010 Despite strong belief in the value of a college diploma, Hispanics more often than not fall short of their goal to pursue a higher education degree.

College Students Hide Hunger, Homelessness NPR July 28, 2010 For many college students and their families, rising tuition costs and a tough economy are presenting new challenges as college bills come in. This has led to a little-known but growing population of financially stressed students, who are facing hunger and sometimes even homelessness.

Economy Forces States to Scale Back Scholarship Programs Education Week July 27, 2010 States are realizing that when times get tough, large merit-based student aid programs are not designed in ways that can be sustained. Still, it's difficult for politicians to cut popular education programs, especially those that help the middle class. To keep programs from going under, some states are raising the minimum grade point average or testing criteria to reduce the number of awards. Others are offering a set amount rather than total tuition coverage.

Textbooks: Sympathy for the debt-laden - Editorial Boston Globe July 27, 2010 Despite certain provisions of the Higher Education Opportunity Act in 2008 that went into effect this month, professors and universities lack strong incentives to minimize the financial burden of expensive textbooks on students. Educators should see paring down required reading lists as a duty to their debt-laden pupils. They should also investigate more imaginative alternatives.

The Real Cost of College Textbooks New York Times July 26, 2010 New federal regulations aimed at textbook pricing went into effect this month. Publishers will now "unbundle" college textbooks from accompanying materials like workbooks and CD's, allowing them to be bought separately.

As college text prices soar, students get a rental option Boston Globe July 26, 2010 In an effort to curb escalating book prices amid sky-high college costs, bookstores at more than a dozen campuses across the state and hundreds more around the country will begin renting textbooks at about half the cost of buying them.

Education Department Takes Aim at For-Profits With Student-Debt Rule Chronicle of Higher Education July 23, 2010 The proposed "gainful employment" rule, which has been anticipated by for-profit colleges and short-sellers alike, would cut off federal aid to programs whose students have the highest debt burdens and lowest loan-repayment rates, while limiting enrollment growth at hundreds of other programs. For-profit lobbyists are calling the rule "unwise and unnecessary."

Proposed Rule Links Federal Student Aid to Loan Repayment Rates and Debt-to-Earnings Levels for Career College Graduates News Release July 23, 2010 The Obama Administration released today its proposed regulations requiring for-profit career colleges to better prepare students for "gainful employment" or risk losing access to federal student aid. The proposed rules seek to protect students from taking on unsustainable debt they cannot repay and to protect taxpayers from high loan default rates.

Obama Cracks Down on For-Profit Colleges, Links Loans to Income Bloomberg.com July 23, 2010 Today the U.S. government relaxed a proposal governing the industry's access to federal student aid.The rules proposed today would give companies the option of showing that at least 45 percent of students are paying down principal on their loans, and, under some circumstances, would allow them to go on a "restricted" status rather than becoming ineligible for grants.

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College Financial Health/Management

Economy Slows Colleges' Ability to Hire and Delays Retirements Chronicle of Higher Education July 27, 2010 At a time when colleges are facing budget reductions that force cutbacks on hiring, they are also seeing a slowdown in the retirements that would free up money to hire.

Economy Forces States to Scale Back Scholarship Programs Education Week July 27, 2010 States are realizing that when times get tough, large merit-based student aid programs are not designed in ways that can be sustained. Still, it's difficult for politicians to cut popular education programs, especially those that help the middle class. To keep programs from going under, some states are raising the minimum grade point average or testing criteria to reduce the number of awards. Others are offering a set amount rather than total tuition coverage.

Typical College CFO: White, Male, and Not Likely to Seek a President's Job Chronicle of Higher Education July 27, 2010 Chief financial officers at colleges and universities are more than four times as likely to plan to retire than to seek a college presidency, according to a new survey of nearly 1,000 officials released by the National Association of College and University Business Officers. A majority of those officials plan to retire or to seek another CFO position as their next career move. Only 8 percent of the respondents said they planned to seek a college presidency.

Getting to Know the CFO Inside Higher Ed July 27, 2010 The ever-growing population of college chief financial officers is dominated by well-educated, middle-aged white men who clash with deans and never feel they have enough money for their institutions, according to a survey released today by the National Association of College and University Business Officers. The typical CFO is 55 years old, married with children and most commonly - 48 percent - holds an M.B.A.

Clo Phillips' hiring a positive step for Virginia Intermont College Tri-Cities.com, Bristol, Tenn. - Editorial July 25, 2010 We are encouraged by last week's announcement of E. Clorisa Phillips as the 17th president of Virginia Intermont College. Phillips, who has spent her career at the University of Virginia, has pledged to work for a secure financial future for the Bristol college.  It's no secret that VI has struggled to keep its financial footing.  This college is a necessary source of higher education for about 600 students and an economic engine to Bristol and the broader region.

Negative Credit Ratings Reflect Financial Strain on Small Colleges Chronicle of Higher Education July 21, 2010 More than a dozen private colleges have had their credit ratings downgraded since the start of 2010, most of them tuition-dependent, less-than-selective institutions facing the challenge of attracting students in a bad economy and a competitive market.  Several institutions that were downgraded or saw their outlooks lowered (which could signal a future downgrade) are in the Northeast or the Midwest, where lots of small colleges are vying for a gradually shrinking supply of traditional students.

Obey’s axe hovers over Obama's $1.3B education program The Hill July 20, 2010 House Appropriations Committee Chairman David Obey is taking on the White House over President Obama's Race to the Top education program. Obey has proposed a 40 percent cut to the White House's $1.35 billion 2011 request for Race to the Top - a budget allocation for which Obama personally pleaded.

California college students are on the rise in Minnesota Minneapolis Star Tribune July 19, 2010 Some California students who under normal circumstances would stay to attend public universities, such as the University of California, Berkeley, are now bailing, winding up in California's private schools as well as in Minnesota. At the University of Minnesota, for example, freshman applications for this fall from California jumped by more than a third over last year. The trend is fueled by years of aggressive recruiting by some Minnesota colleges seeking racial and geographic diversity, as well as the University of California's decision to raise its historically low tuition.

New Earmark Limits Make Universities Desired Partners, but Some Just Say No Chronicle of Higher Education July 19, 2010 In the wake of a new House policy created to staunch the growth of earmarks, some companies are looking for nonprofit partners to maintain earmarked budget allocations that they've received in past years. And universities have emerged as a popular choice among companies whose work involves scientific research.

Outsourced Ed: Colleges Hire Companies to Build Their Online Courses Chronicle of Higher Education July 19, 2010 As more colleges dip their toes into the booming online-education business, they're increasingly relying on outside parties to develop and guide their programs. For nonprofit universities trying to compete in an online market aggressively targeted by for-profit colleges, the partnerships can rapidly bring in many students and millions of dollars in new revenue. But the new breed of online collaboration can tread into delicate academic territory, blurring the lines between college and corporation.

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Student Financial Aid

Senate Appropriations Panel Approves Spending on Student Aid and NIH Chronicle of Higher Education July 29, 2010 Many campus-based student-aid programs would receive flat funds under the legislation, as would the Pell Grant program. That differs from the House version of the spending bill, which would supply about $5.7-billion more to the need-based aid program, to cover a budget shortfall, and would maintain the maximum Pell award at $5,550 in the fiscal year, which starts on October 1.

Pell Shortfall Persists Inside Higher Ed July 28, 2010 A Senate panel wavered a bit from its House of Representatives counterpart, producing a 2011 funding bill Tuesday that aims to protect Pell Grants from cuts -- but doesn't fully fund the program -- and boosts funding to the National Institutes of Health.

Economy Forces States to Scale Back Scholarship Programs Education Week July 27, 2010 States are realizing that when times get tough, large merit-based student aid programs are not designed in ways that can be sustained. Still, it's difficult for politicians to cut popular education programs, especially those that help the middle class. To keep programs from going under, some states are raising the minimum grade point average or testing criteria to reduce the number of awards. Others are offering a set amount rather than total tuition coverage.

Student Aid Remains a State Priority Inside Higher Ed July 26, 2010 Even as the economy began to collapse in 2008, most states found a way to protect from cuts the grant aid they give state residents to attend college, a new study finds.

A boom in for-profit colleges may be a bust for taxpayers and students Los Angeles Times July 25, 2010 For-profit colleges are booming as the unemployed turn to education, but some members of Congress and Obama administration officials say they are growing at the expense of taxpayers and that students are often exploited.  Investigators believe a high proportion of students drop out, and those who do graduate find their money wasted because their programs are not accredited. Students at for-profit colleges borrow more and are more likely to default on their loans, furthering taxpayer losses.

Fifth guilty plea in Obama student loan records case Mason City Globe Gazzette July 23, 2010 Another person pleaded guilty Friday in Davenport federal court to accessing President Barack Obama's student loan records without permission. The records were accessed while Obama was a candidate for president, president-elect and after he took office, documents say.

Net Price vs. Net Worth - Opinion Inside Higher Ed July 19, 2010 The Net Price Calculator is sure to further the commodification of the college degree in ways that will make many uncomfortable. It also could perpetuate the phenomenon of qualified students choosing not to enroll at the college that is their best match, academically and co-curricularly, but instead choosing a college based on the lowest cost.

New graduates grapple with mounting debt load, weak economy Scranton, Pa., Times-Tribune July 17, 2010 With employment prospects bleak, wages stagnant and student loan burdens larger than ever, new graduates are finding debt payments tough to manage.  The average U.S. student graduated with $25,000 in debt, according to the United States Student Association. That's about double the debt burden of just 12 years ago. A combination of flat wages and spiraling tuition has made student borrowing commonplace, with some graduates of private schools facing six-figure debt.

Senate Passes Legislation That Includes Oversight of Private Loans, Debit-Card Fees Chronicle of Higher Education July 16, 2010 In a victory for students and college bookstores, the U.S. Senate gave final approval Thursday to a sweeping financial reform bill that will lower the fees colleges pay when students use debit and credit cards and increase oversight of private student loans.  One of the biggest components of the bill is the creation of the Consumer Financial Protection Bureau in the Federal Reserve that will have authority over most consumer lending, including private student loans. The bill also creates an ombudsman position to oversee private student loans.

Tempted by a private student loan? Read this first Associated Press July 14, 2010 Faced with last-minute college costs, it's tempting for families to turn to private student loans this time of year.  The danger is that borrowers may assume they come with the same terms as federal student loans. But the loans doled out by banks are far inferior; they're costlier and don't carry as many protections in case borrowers run into financial trouble.  If you're thinking about taking out a private student loan, here's what you should know.

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