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Articles: Tuition

New financial literacy programs aim to reduce student default rate. (Getty Images.com/MCT Graphics via Getty Images)

A spooky cloud of crimson smoke dramatizes the dread of overwhelming student debt in “The Red,” a short movie thriller created for SALT, the American Student Assistance financial literacy program for students and alumni.

Less dramatic but noteworthy still, college students logging onto the National Endowment for Financial Education’s CashCourse can take a “Financial Realities” quiz to test their knowledge. In the opening question, they’re asked what will have the worst impact on their finances: gourmet coffee drinks, borrowing money, or spending without a plan.

The interest in financial literacy has expanded beyond the financial office, which is where Lyssa Thaden, financial education content manager at American Student Assistance, used to focus her pitches.

“Now, at a stakeholder meeting, I’ll have someone from the financial aid office but also someone from admissions and enrollment management,” says Thaden, who consults with school sponsors of SALT, ASA’s financial literacy program. “The marketing folks show up, the residence life people show up, and even alumni.”

In the life of an institution, the chief financial officer helps drive the big narrative, but also digs down into the day-to-day. A CFO is strategist and analyst, decision-maker and inspirer, and protector and possibility-seeker all in one.

Saying “We've got a crisis in terms of college affordability,” President Obama outlined a three part proposal to reign in the cost of higher education before a capacity crowd at the University at Buffalo Thursday. The appearance was the first of the president’s two-day bus tour through New York and Pennsylvania designed to call attention to high education costs.

“We can’t go about business as usual,” Obama said. "Our economy can't afford the trillion dollars in outstanding student loan debt.”

College students with no loan debt are more likely to lead a richer social life that involves partying, studying less, and forming relationships that will last long after graduation, a pair of University of Indiana sociologists says.

One of the most sought-after nonsalary compensation items offered by higher education is full or partial tuition benefits for employees and their families. Free and reduced-cost degrees go a long way toward easing the impact of nonprofit salaries.

American Public University System (W.Va.) offers varying levels of such tuition benefits based on employee status. But the institution’s formerly manual registration process was ill-equipped to distinguish between different registration types, creating problems when it came to reporting, scholarship applications, and payment.

Two-year students typically work more hours than four-year students and may have families to provide for

A father I know asked his 9th-grader how his math grades had jumped from C to A-, when prior personal tutoring hadn’t helped. The reply: “Dad, it’s easy! I taught myself using Khan Academy.”

California, Texas, and Florida tend to be bellwether states for education because of their sheer size. So recent legislation proposed in California should have an interesting effect on the $10,000-degree movement. In January, Assemblyman Dan Logue, R-Marysville proposed legislation to make it possible for students to get a degree from the California State University system through closer coordination between high schools, community colleges, and CSU. He later proposed a companion bill for $20,000 degrees from the University of California system.

At Tuesday’s State of the Union (SOTU) address, President Barack Obama discussed the importance of education at all levels and after putting emphasis on early education and job training for high schoolers, he asked colleges and universities to work to make higher education more affordable for students. 

The American Council on Education (ACE) has announced a research effort examining the academic potential of massive open online courses (MOOCs), in which it will evaluate select Coursera courses for college credit. If the ACE College Credit Recommendation Service (ACE CREDIT) decides to recommend these courses for credit, it could mean an improvement in college affordability for hundreds of thousands of students. It will also raise some logistical questions for administrators at colleges and universities.

With the 2012 election only weeks away, Pres. Barack Obama and Gov. Mitt Romney are furiously campaigning for that segment of undecided voters that could make or break their efforts.

At the top of nearly every list of voter concerns this year, of course, is the economy. And because one of the keys to growing the economy is an educated workforce, voters are anxious to hear where each candidate stands on higher education. For the most part, the discussion centers on two issues—affordability and accountability—and the differences are stark.

The cost of a college education continues to rise, despite declining consumer ability to pay for it. And with 70 percent of college students and parents agreeing that college is needed now more than ever, according to Sallie Mae’s “How America Pays for College 2012,” finding an affordable institution is key. The College Board’s annual report on “Trends in Pricing” states that the total cost of attending a four-year public university rose 6 percent in-state and, at four-year private universities, costs rose 4.4 percent in the last year.

Higher One has achieved Oracle Validated Integration of its CASHNet payment processing suite 2012.2 with Oracle’s PeopleSoft Campus Solutions 9.0. With this integration, colleges and universities, as well as students and parents, are able to easily process payment anytime, anywhere using the CASHNet payment processing suite. To achieve Oracle Validated Integration, Oracle partners are required to meet a stringent set of requirements that are based on the needs and priorities of the customers.

I recently read a story about a family whose son is struggling to pay off nearly $200,000 in medical school debt. The family plans to help pay the debt by auctioning an 84-year-old home run baseball hit by Yankee great Lou Gehrig.

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