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Articles: Tuition

Students at Columbia College Chicago and elsewhere who choose academic programs

Here’s the harsh reality: The number of students who have debt has increased, and the amount of money that they have borrowed has gone up. These borrowers then graduate into a world with weak employment prospects. It’s a bad situation leading to higher loan default rates.

Nelnet QuikPAY

Since the College at Brockport, State University of New York, began using the QuikPAY system from Nelnet Business Solutions, the school doesn’t hear complaints about bills for student account payments being lost in the mail. And, in the first month of use, there’s been a dramatic 475 percent increase in the amount of online payments collected, according to Teresa Major, director of student accounts and accounting services.

Since the market crash of 2008, a number of private education lenders have left the marketplace. Those who have remained have not increased their lending to fill this gap and anecdotal evidence suggests that the remaining lenders have further reduced access to private education loans by tightening their credit criteria. Higher-education institutions have responded to the credit needs left unmet in the current marketplace by creating or revising their own institutional credit and payment arrangements.

financial aid

Complying with the growing and increasingly complex Title IV federal student aid regulations is an ongoing challenge for every campus that administers federal student aid. Performing a word count of student aid regulations in 2000 and 2010 reveals a 40 percent increase over that decade. A recent survey of financial aid administrators shows that increasing regulatory and compliance requirements are causing resource shortages in many financial aid offices.

The second year of the ongoing Models of Efficiency program continues to demonstrate that campus departments can be innovative and inspired when it comes to finding ways to provide superior service and maximize resources.

"We believe that improving the efficiency of administrative services yields cost savings and reputation benefits that can propel a college into the top tier of success," noted Miles Lasater, chief operations officer and cofounder of Higher One, which has sponsored the Models of Efficiency program from the start.

As another school Semester begins, administrators will be confronted with a segment of their student population that does not go on to graduate. Attrition is nothing new, of course. It happens every year, as students begin their college careers in earnest, but find, for one reason or another, that they can't continue. Perhaps the student has financial difficulties or is simply not prepared academically or emotionally for the rigors of college.

Student financial literacy has been a growing concern, not only because of the connection to persistence and retention, but also in terms of success beyond college years that includes repayment of student loans and general fiscal responsibility in adulthood. We’ve likely all heard the stories of the $82 pizza, its price inflated by a check that bounced and resulting fees from the bank and pizza parlor. It shows the need for students to understand the consequences of spending money they don’t have.

The tornadoes that ripped across the South in April devastated everything in their paths. Some institutions had to close their doors before semester’s end.

The Student Aid and Fiscal Responsibility Act (SAFRA), passed in May 2010 as part of the Healthcare Reform Act, was an attempt to rein in the student loan industry and save money by taking private lenders out of the equation. But a year later, educators, parents, and legislators are asking, is the program delivering on its goals?

The federal Dream Act, which would have created a path to citizenship for immigrants who obtained a college degree or had two years of military service, did not include provisions for in-state tuition, but it is still a flash point in the discussion. State legislatures in Oregon, Connecticut, Maryland, Colorado, and Georgia, among others, have been debating laws allowing undocumented students to pay in-state tuition.

I know that spring is finally upon us because my wife has started organizing her vegetable garden. The garden, like the start of baseball season and the sound of lawn mowers instead of snow blowers, is a sure sign of longer days and warmer evenings.

It's common to find students filing papers in campus offices, restocking library shelves, or checking IDs at the fitness center to make a buck. What's a little less common is students replacing sidewalks and entranceways to dorms, building fountains, and constructing additions.

The call for increased transparency in the college pricing and financial aid arenas is coming from many directions and is ringing louder and more clearly than ever. Institutional customers, students and families who have for some time been expecting more information, now want it more quickly and in terms they can understand easily and compare consistently across institutions.

There are 18 million college students, 40 percent of whom receive federal financial aid every spring and every fall. The average student, after class drops and other adjustments, gets 2.5 refunds totaling $1,300. That's a lot of money and a lot of transactions that have to be made according to a stringent set of regulations.

It took one determined program director, two tries, three years, and much collective brainpower—but at Chatham University in Pittsburgh, today's interior architecture program students can earn a bachelor degree in three years rather than four.

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