Category Archives: scholarships

Student Debt: No new car, caviar, four star daydream

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I have been reading a lot on student debt recently, a topic that is of great interest for me as I counsel first-generation college students. My state and institution have among the highest debt rates in the country, not a statistic to celebrate.

Student Debt and the Class of 2009 is the fifth annual report from the Project on Student Debt.  It includes cumulative loan debt of students from public and private nonprofit colleges and shows that the debt level of students who graduate with student loans continues to rise with averages from $13,000 to $61,500. Low debt states are typically in the West or Southern states. High student debt rates are concentrated in the Northeast with Iowa, Minnesota, and Alaska in the top tier as exceptions. Iowa is fourth in the nation for average debt of $28,883 and second in percentage of graduates with debt, at 74%.

A variety of factors contribute to varying debt levels including cost of tuition and fees and financial aid policies of the individual institution. Generally, higher tuition is found at private colleges, but some privates, such as Cal Tech and Princeton, are also the first to institute policies of no-loan or reduced-loan for low- and middle-income students. Student debt figures are not inclusive in that not all colleges reported figures for average debt and percent with debt. In actuality, the debt figures could be and are likely much higher.

Several issues influence the accurate collection of student debt data and are recommended for improving the scope this information. These include a lack of a comprehensive annuals source of data, data on private loans, and lack of reporting on repayment terms and debt-to-income ratios for graduates in repayment.

Student Debt and the Class of 2009 reports only federal loan data. When you consider that debt attributed to private and federal student loans has surpassed $884 billion dollars in the United States and contributes to the ballooning national debt, the effectiveness and equity of relying on student loans to finance the cost of a higher education becomes paramount to all. Lawmakers and institution officials must carefully consider the impact of their tuition decisions and educate the student population as to their debt responsibility.

Little things

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Some days it’s the little things. Like discovering that you packed extra underwear when weather delays your travel leaving you stranded far from home. Or when you get an email out of the blue from a student you have not heard from in a while.

I’m writing to thank you and the Hixson program for all that you have given me.  Not just the class, the opportunity to be a seminar leader or the scholarship money, but also the staff. Yesterday, I was in the student lab doing a little homework when your graduate assistant came in and I had a really great talk with him, just about how our semesters were going.  Anyway, it makes me really appreciate the program and especially the people surrounding the program.

 

image by Charles M. Schulz

(Go to) Class Investment

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A student of mine missed class last week. After some checking, I found that a family emergency resulted in his missing at least two days of classes. And this was just the second week of the semester.

Lynn O’Shaughnessy discussed the phenomenon of students voluntarily missing class and featured the Skip Class Calculator on her blog. The calculator helps a student determine the cost of missing a class based upon class meetings per week, attendance history, and upcoming exams. A cursory glance at the Skip Class tool found one factor missing; the money invested in missing a class.

Running an estimate based on the full-time cost of attendance at our university, an in-state resident student invests $53 to attend an hour of class. For non-resident students, the amount increases to $86 an hour. Miss 10% of classes for a semester and a student can easily waste a grand or more.

At an institution where student loan debt at graduation is among the highest in the nation and as electronic course attendance systems become commonplace on college campuses, skipping class is pouring money down the drain.

Oh, The Places You’ll Go

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Congrats to our new Hixson Scholar graduates and everyone else celebrating their academic achievements this month. Special props to one of our 2004 award recipients, Tyler Dohlman, who just completed his DVM.



But the unfortunate, yet truly exciting thing about your life, is that there is no core curriculum. The entire place is an elective. The paths are infinite and the results uncertain.

~Jon Stewart (2004 commencement address to The College of William and Mary)



So…get on your way!




photo credit Christopher Gannon/TheRegister

Little Engine That Could

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April is what it is in Student Affairs.
Without doubt, it is one of the most challenging thirty day stretches
that those of us in the field face annually.



A holiday, one campus festival, and an out of town soccer tournament.


I think I can, I think I can.


57 graduation notes to send.


I think I can, I think I can.


Three budget forecasts to review.


I think I can, I think I can.


Two graduate assistants to hire.


I think I can, I think I can.


Two annual reports to complete.


I think I can, I think I can.


One birthday party to plan.


I think I can, I think I can.


562 scholarship applications to read.


I think I can, I think I can.


One research paper to write.


I think I can, I think I can.

April is the cruelest month?

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In the next thirty days, I will read more than 550 scholarship applications and help 100 students afford a college education. April is my busiest month, and by awarding nearly $1.5 million in scholarship dollars, also the most significant. We find students who wish to fulfill their dream of a college education. Every minute counts as we finalize application files, review FAFSA information, and crunch through committee reviews, all before May 1.

Ancient Chinese philosopher, Lao Tzu has a good reminder for me this time of year.

Do the difficult things while they are easy and do the great things while they are small. A journey of a thousand miles must begin with a single step.


Have the time of your life!

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Congratulations to the 2009 Hixson Scholars who begin the first day of their college career today. You should be very proud of the accomplishments that brought you to this point. There are a lot of people at home and here on campus who are really pulling for you, so make this opportunity count. There are fifteen peer mentors in our program who are as eager to meet you as I am. They are some of smartest student leaders with whom I have ever worked, so I know they will be great resources for you.


Don’t worry about dropping your tray in the dining center, getting on the wrong CyRide Bus, or getting lost on the way to class. Those things happen to everyone and we all survive. Focus on the big picture, the adventure on which you have embarked. See you in class tonight!


It’s something unpredictable
but in the end it’s right.
I hope you have the time of your life.
~Green Day

Declining access to higher education?

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I am fortunate to administer an endowed scholarship that flourishes even in these financial times thanks to careful foundation oversight and recent gifts from our generous donor. It is a partial tuition scholarship and most students also receive significant institutional and federal aid. So, I have concerns when I read that many scholarship providers are pulling back support.

Full cost of attendance at my university this fall (tuition, fees, room, board, books/supplies, personal expenses) is $18,370. The average financial need (cost of attendance minus expected family contribution) of my new class of 100 scholarship recipients is greater than $15,500. More than half of the students have need within 1% of the full cost of attendance.

With less money thrown off by endowments and contributed by donors, scholarship providers must make difficult choices. Should current scholarship recipients have their awards renewed, at the expense of new applicants? Should scholarship amounts be reduced so that the same number of students can benefit? Should the size of awards be protected, but their number cut? ~Jonathan D. Glater

Access to higher education becomes even more important in challenging economic times. Here’s hoping that scholarship providers can keep their focus on priorities.



Higher Education Priorities

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Just squeaked through crunch time of awarding $1 million private scholarship dollars to students entering our university this fall. The award is equal to one-half tuition and fees for four years. Most of the students receiving this award have significant to full financial need in meeting the cost of attendance for resident students, so getting this envelope in the mail is a reason for celebration.

So why am I not celebrating?

Analysis of financial aid packages for these students show that those with stellar grades who are scrambling for outside scholarships may meet about half of their expenses through grant and gift aid, leaving $8,000 to $10,000 in loan or out-of-pocket expense. Considering that the Iowa median income is $47,000 and most recipients of this award fall below the median, how is a student to afford an education at a Midwest public research university?

Our students graduate with some of the highest student loan debt in the nation and have amassed a 58% increase in loan debt in the last decade. Our state legislature disburses 85% of the state’s $3.4 million of need-based grants to students enrolled in private, not-for-profit colleges reserving only 6% for students enrolled in public colleges and universities.

Slow economic recovery and higher student loan default rates will not improve anytime soon. Tuition freeze? Loan forgiveness? I don’t have all of the answers. But it is time to prioritize the opportunity of higher education for all students.