The REAL Numbers Behind The Trillion Dollar Figure

For the past couple of years, I have been presenting at multiple conferences and to groups of parents about college ROI and, in doing so, have often referenced the "ONE TRILLION" figure that has been popularly pointed to in the media as an indicator of a perceived higher education 'bubble'.  If you have read this blog, than likely you know that the trillion dollar figure refers to national aggregate student higher education debt.  My argument has been that people are misreading the figure and not putting it into context, keeping in mind that it is the result of more students going to college and includes graduate school debt (including people like the beautiful and talented Dr. Wife's medical school debt) and not an increase in the cost of higher education to individual students.  It appears from this article that some folks finally caught on:

http://www.newamerica.net/publications/policy/the_graduate_student_debt_review

More and more are climbing on the bandwagon to debunk the current media obsession with suggesting college might not be worth the investment, including Google CEO Eric Schmidt:

http://techcrunch.com/2014/03/16/googles-eric-schmidt-on-critics-who-say-college-isnt-worth-it-theyre-just-wrong/

Is this the beginning of the end of this decade's attack on higher education?  We can only hope.

What REAL GENIUS Can Teach About College Funding

One of my favorite (of many) ‘80s movies is Real Genius, a hilarious Val Kilmer vehicle that chronicles the lives of a group of geniuses at genius filled Cal Tech.  I was reminded of the movie the other day as I was speaking with students and families about college financing.  In particular, this scene jumped into my head (my apologies that I was only able to locate an audio clip!):

 In this scene, Lazlo Hollyfeld usurps the system by submitting a massive amount of entries to a contest, an amount that he estimates will net him 32.6% of the prizes, including the car. (An amusing joke at the end of the film is that he only runs away with 31.8% of the prizes, resulting in a need for him to reevaluate his calculations.)  What does this have to do with college financing?  Well, in today’s digital age, the reality is that you don’t have to be a genius to cash in on grants and scholarships if you are willing to exert a little time and effort.

As I’ve noted here before, college can be a significant investment.  As such, many students either look for an ‘all-in’ big scholarship to help cover the costs or give up on scholarships entirely.  The problem with this approach is that it ignores two truths: first, there aren’t an over abundance of big scholarships and, second, they are pretty competitive to get.  However, there are literally thousands of smaller scholarships out there to be had. 

Now, when I was in high school, it was difficult to identify scholarships sources.  There were scholarships in the community, but sitting through a typical graduation and awards ceremony would convince most of us that this small collection of scholarships are won by the same five kids.  The internet has made things easier today.  Scholarship aggregators allow students to identify multiple scholarships they may be eligible for, and do so with as little as a few mouse clicks.  The key is what you do with this information.

Here’s the deal: a $20,000 scholarship is great, but 20 $1,000 scholarships are just as good.  And, 25 is even better.  So, before you skip the application for the $500 or $1,000 scholarship because you think to yourself “what good will that do?”, think in terms of aggregation.  Check out this student’s story about how she turned multiple small scholarships into an almost entirely free college education to see what I mean: 

http://www.learnvest.com/2013/09/how-i-did-it-i-applied-for-100-college-scholarships/

There is another piece of the puzzle that students don’t always realize – scholarships don’t always go to top students.  There are so many scholarships out there, and each one is designed for someone different.  There is probably a scholarship out there for a left-handed, Harry Potter loving, redhead from Minnesota.  Scholarships can get that specific, so the key is to be broad in your search and be open to everything about yourself that you can bring to the table in the scholarship search.

So, where do you start?  The easiest place is online using one of the many scholarship aggregator sites or student search engines that also point to scholarships.  Here are a few suggestions:
 

www.scholarships.com
www.fastweb.com
www.collegeboard.com
www.zinch.com
www.nextstep.com

This is just a start.  A quick google search will find you many more.  Then, after you’ve identified scholarships, add applying for 1 scholarship a day to your regular homework regimen.  You can even take Friday and Saturday night off.  If you keep at it, you’ll find you’ve applied for 20 scholarships in a month, and 120 in 6 months.  If they are all $1000 scholarships, it means a potential of $120,000 towards your education.  If you get only 10% of those scholarships, that is $12,000 towards your education – a worthwhile investment.  If you figure it takes an hour to apply for each scholarship, that is like getting paid $100/hour to apply for scholarships.  Well worth it!

Don’t let the cost of college scare you away.  There is free money out there to help you pursue your higher education – all it takes is a little extra effort.  Be a real genius and go for it!

For more scholarship resources, follow the Dean Dean on twitter @DeanDean1865.

Digesting the State of College Admissions

This past week, I had the opportunity to attend the National Association of College Admissions Counselors (NACAC) conference.  This yearly gathering provides a unique opportunity for me and other professionals to learn about each other’s institutions and to reflect on the counseling of students in the admissions process as well as the state of higher education.

First, let me share that I’m incredibly proud to be a member of this organization that, through our Statement of Principles of Good Practice (SPGP), governs and advises school counselors, independent counselors, and colleges as to what is ethical and appropriate behavior in helping students and families navigate to college search process.  I have the privilege of serving as a delegate for our affiliate organization, the New England Association of College Admissions Counseling (NEACAC).  As a delegate, I am able to participate in our national assembly that examines and adjusts the SPGP to keep up with a rapidly changing world so that the interests of students and families are protected in this important process.

Here are a few tidbits that I took away from this year’s thoughtful and insightful meetings:

1.      Despite what families might think, we’ve got your back.  School counselors, independent counselors, and college admissions officers all want the same thing: for the student to find the right fit, have a successful (and enjoyable) college experience, graduate, and be prepared for both a first job and to adapt to a rapidly evolving economy so that they have an even better job in the future.

2.      Colleges and Universities are just as concerned as families about the rising costs of college.  Discussion this week centered on how we can better help prospective students and families find the aid they need to invest in a college education, recognizing that in order for colleges and universities to accomplish our goal of preparing students for the future, there is a cost associated with regards to infrastructure and instruction. 

3.      Online education is continuing to expand, but it is not replacing the highly valuable on-campus classroom experience anytime soon.  The new challenge for colleges and universities is not what content to share with students, but how to prepare students to access, absorb, understand, and critically analyze the growing array of knowledge and content available to them in the online world.  This requires face to face interaction and close relationship development that the online space simply cannot provide.

4.      The death of the Liberal Arts has been greatly exaggerated.  World is Flat author and New York Times columnist Thomas Friedman served as our keynote and one of his major messages was the continued importance of broad based, liberal arts education.  He noted that the fundamental knowledge and skill set we all need to be successful is still rooted in the liberal arts, and that the most successful people are those that have the tools necessary to adapt, a key component to liberal arts education.

5.      Fit still matters most.  While many families are overly focused on arbitrary rankings, the majority of professionals I talk to agree that the rankings are just one tool in the process, not the primary one.  College counselors encourage students to explore the rich variety of colleges and universities and find the environment that is most appropriate to help them maximize their personal and academic potential.  In many cases, that perfect school won’t be on the U.S. News top whatever list.  With over 3,000 accredited colleges in the U.S., plus international options as well, a little research will go a long way in your college search, and many skilled counselors are available to help you find the best fit for you.

Receiving a college education is more important than ever for you to be successful.  As high school seniors enter into application season, know that there are dedicated professionals here to help. 

Why Exactly DOES College Cost So Much

I’ve written here on a couple of occasions about the ROI, or return on investment, associated with a college education.  However, in my discussions with families over the last year, it has become apparent that, while ROI is of concern to families, the real focus of most in the college selection process today is COST.  So, let’s spend a few moments on this topic.

When talking about the COST of college, it is important to consider what is meant by the term.  There are two numbers to pay attention to when considering cost: GROSS COST and NET COST.  GROSS COST refers to the sticker price – what the college prints in its materials as the cost of the institution.  This is usually broken out into three areas:  Tuition, Room & Board, and Fees.  As an example, here is a breakdown of the GROSS COST of Dean College per year:

Tuition:   $33,230
Room & Board:  $14,260
Fees:  $250

By comparison, here is a breakdown of the GROSS COST of UMASS Amherst per year:

Tuition:  $1,714 (MA Resident)
Room & Board:  $9,937 (MA Resident)
Fees:  $11,516 (MA Resident)

A couple points on the examples above.  You will note a higher tuition rate at Dean than UMASS.  This is due in part to Dean being a private school and therefore not receiving investment from the State to run the institution.  However, you will also note that the true GROSS COST of attendance at UMASS is actually calculated in FEES, not TUITION.  Fees at UMASS are 572% higher than tuition, but must be calculated into the GROSS COST of attendance.  So, the total difference in GROSS COST between Dean ($47,740) and UMASS ($22,877) is $24,573/year – significant.

BUT… GROSS COST is not what most students pay, particularly at private colleges.  In fact, college pricing is a lot like buying a car – you almost never pay sticker price.  Colleges and Universities offer students assistance to help bring down the GROSS COST, and when this assistance is taken into consideration, the remaining amount is referred to as NET COST. 

To explain, let’s look at our Dean and UMASS comparison again.  I utilized the NET PRICE CALCULATORS for both Dean College and UMASS.  When entering data, I used a mythical student from a family of 5 with a household income of $90,000/year and 1 student in college:

                                                                                          DEAN                    UMASS
GROSS COST                                                                   $47,740               $22,877
ESTIMATED ASSISTANCE FROM COLLEGE                $20,000               $818     
NET COST                                                                        $27,740               $22,059              

So, when comparing the NET COST, we see that the difference between Dean and UMASS is much less than originally seen when only comparing GROSS COST:  $5,681.  So, the actual cost difference to a family for a private school education (and a significantly smaller school in Dean’s case than a large school) is less than $6,000.  Note that these numbers do not take into consideration federal financial aid, student loans, or outside scholarships.

Now that we’ve tackled the intricacies of COST in dollars and cents, let’s look at what these dollars pay for.  Educating a student has a price tag, and that price tag can be substantial.  The infographic below illustrates well just how tuition dollars are allocated:



Let’s breakdown the categories:

·        Instruction is fairly self explanatory.  This includes salaries to faculty who teach classes (in most cases, people with advanced degrees).    

·        Research refers to dollars spent to set up labs and research projects, to purchase materials to support research, and the infrastructure required to facilitate research.

·        Public Service refers to dollars spent in the community, either in terms of donations of monetary support through sponsorships or advertising or the cost of providing volunteers and other resources to community agencies.

·        Academic Support refers to a variety of services provided to college students ranging from tutorial services and academic centers to academic advising to career development services to counseling services to disability support services.

·        Scholarships refers to money invested from tuition into scholarship funds to support future students.

·        Auxiliary Enterprises covers student life activities, athletics, on campus events and weekend activities, and the infrastructure costs of an institution from facilities maintenance to heat and electricity to campus security.

·        Independent Operations are dollars spent on the often unique offerings of educational institutions such as conference and meeting facilities, theatres, and athletic venues.
 

When viewing this infographic, many will make the mistake of suggesting that only 32.7% of tuition dollars go to instruction, but this view misses the point.  Many of the other categories highlighted here reflect direct expenditure on academic content delivery, such as the benefits that come from on campus research (11.2%) and academic support services necessary to the academic success of today’s students (30%).  So, when combining these three areas, 73.9% of tuition expenditures are paid to support academic content delivery.  The remaining 26.1% is no less important, because college is a living/learning experience that is dependent upon state-of-the-art facilities (everyone wants functional and reliable technology infrastructure) and student activities that help shape the personal development of students.

Let’s look more specifically at Room & Board expenditures.  Because college is a living/learning experience, the benefits of on campus living cannot be understated.  However, there is a monetary cost associated with supporting a student safely in on campus living.  As an example, the cost of Room & Board at Dean College is $14,260.  Where does this money go?  Consider what it would cost a student to move out of mom and dad’s house to live on their own per month:

RENT:                   $1,000
FOOD:                  $300
INTERNET:          $75
CABLE TV:           $80       
TOTAL:                 $1,455

Now, multiply that $1,455 by 10 months and you get a total expense of $14,550.  There is your Room & Board cost. 

Certainly, the cost of college is a concern to many in today’s challenging economic conditions.  However, it is only when we look critically at what is being delivered by the dollars actually paid for families to fund higher education that we see that NET COST (which has actually gone DOWN over the last 7 years as institutions increase grant and scholarship expenditures) that we see that the money invested is being well managed. 

When we consider recent studies that bring new light to the incomparable value of higher education toward economic stability and prosperity, we see that college remains one of the most worthwhile investments one can make.

The Small College Advantage

Throughout the course of my career, I have had the unique opportunity to see the full range of higher education offerings. I am a graduate of and worked for a large, flagship state university (Binghamton University), I've worked for a mid-sized Jesuit University (Fairfield University), I've worked for a highly selective private university (Brandeis University), a community college (Quinsigamond Community College), and now a small, private college in my current position at Dean College. The most important lesson I have learned about American higher education through these experiences is that our system of higher education affords students maximum choice to identify the environment that is best suited to their learning needs, and that there is plenty of capacity to serve very different students.

I have also observed that, when the economy suffers, the greatest strength of our system of higher education comes under intense scruiteny. It is too expensive, many will argue, even though all the data points to the fact that net cost has remained fairly constant at private colleges and universities over the last 10 years.  We should be focusing more on-line because it is cheaper, others will say.  However, this argument ignores the fundamental flaws in on-line education, not the least of which is that the majority of high school graduates are not equipped to handle the structure of on-line education.  Finally, and the one that I find most egregious, is the belief (when the economy is weak) that students should opt for more vocational education or pre-professional programs over the liberal arts.  This, in spite of the fact that most leaders in business and industry have come out of the liberal arts tradition.

The group that is most rigorously scrutinized are the small, private colleges.  I understand the argument well.  In my younger days as a newly minted graduate of a public university, I would have been leading the charge.  Why?  Because my perspective then was limited by my own experience.  I hadn’t had the opportunity to see what else higher education had to offer.  Don’t get me wrong, I loved my undergraduate experience, and it was the right one for me.  But what experience teaches is that what is the best for one person is certainly not the best for another.  The reality is that many high school graduates will get lost at a large, public university.  They need the close attention and one-on-one contact that only a small, private college can provide.  This article does a great job of illustrating this point:  http://www.huffingtonpost.com/donna-randall/small-colleges_b_2042838.html

The small, liberal arts college is a key cornerstone to our higher education system, a system that is the envy of many in the world – no wonder that far more students flock to the United States to study than leave.  To discount the value of small private colleges for the many students who would benefit most from them is to ignore that which has helped make our nation great.

Presidential Debate - Round 2

As the presidential candidates face off for their second televised debate tonight, check out what my boss, Dean College President Dr. Paula Rooney, has to say about the debate's location in this op ed to the Huffington Post:

http://www.huffingtonpost.com/dr-paula-m-rooney/town-hall-debate_b_1971331.html

Coke vs. Pepsi

In my capacity as Admissions Dean, I am often asked to sit on panels for parent college information nights at high schools.  Let me tell you that this is one of the most enjoyable aspects of my job – it truly allows me the opportunity to give families the real ‘inside scoop’ I know they crave.

Generally, I am asked to talk about the college search process in general and how to choose a college to apply to and ultimately enroll at.  This is certainly a tricky topic as it depends a great deal on your individual metric for evaluating what is the ‘best’ school for a given student.  For a while, I struggled with an accessible way to share my thoughts on the topic.  I have fairly strong feelings in this area, believing that the focus is too often centered on metrics such as admit rate, application volume, GPA and SAT averages, or ‘name’ schools that are easily identifiable by a Division I athletics program.

Then, a couple years ago, I had my one bright idea for the decade (marrying Dr. Wife was the one from the last decade, in case you wondered.)  I realized that selecting a college is a lot like the age old battle of Coke vs. Pepsi.  This realization led to the creation of an exercise which has a dual purpose:  First, it allows folks who have been stuck in rush hour traffic only to be squeezed into the HS auditorium a chance to spread their ways.  Second… well, let me set it up first.

The exercise goes like this.  Everyone stands up.  Then, I ask that you think about a wonderful, hot day at the beach.  You’re thirsty, and you want a soda.  Imagine that you have access to a cooler filled with every possible soda option there is.  You can choose any soda (or cola or pop depending on your preference) that you desire.  Which would you choose?

I think ask everyone that you choose good old fashioned Coke Classic to sit down.  Next, I ask everyone that would choose a plain Pepsi to sit down.  Then, I ask everyone to look around.  Inevitably, when given a choice of any soda option, the Coke Classic and Pepsi contingent add up to about 10% of the audience.  This is the college search.

If Coke represents all flagship public universities (i.e. UMASS Amherst, UCONN Storrs, Binghamton, UNC Chapel Hill, etc.) and Pepsi represents the Top 50 U.S. News Privates (Harvard, Yale, Amherst, etc.), then the vast majority of students are going to school somewhere else.  With almost 4,000 accredited colleges and universities in the U.S. (not to mention universities abroad), you have a lot of options.  The goal is to find the school that will quench YOUR appetites for learning, social life, and personal growth, not some prescribed ‘ranked’ school that is most recognized on a bumper sticker.

To my point, I sometimes refer to Dean College as the Jolt Cola of colleges and universities.  It isn’t for everyone, but those that are looking for what we offer swear by us.  You may be looking for Jolt Cola.  You might be looking for Dr. Pepper.  You might even be looking for Coke or Pepsi.  The key is to keep an open mind and explore all your options so you can find the place that truly fits your tastes, not just the options that are ‘brand’ names.  If you take the time and effort, you will likely find that special flavor that satisfies you again and again. 

The Greatest Country on Earth

In the spirit of full disclosure, let me start by saying that I am a huge Aaron Sorkin fan.  The West Wing, Sports Night, and The Social Network are, for me, must see entertainment.  The reason I bring this up is because as I reflect on yesterday’s Independence Day, I am struck by the brouhaha Mr. Sorkin has created recently with his newest endeavor, The Newsroom (HBO).

In the first episode of The Newsroom, the lead character, a news anchor with a reputation of being a bit vanilla in his news commentary, is challenged by a college student to provide his views on why the United States is the greatest country in the world.  His response:  It isn’t – at least not anymore.  If you haven’t seen the clip, it is a worthwhile conversation piece.  (warning: contains language which some may find offensive.) 

Now, whether you believe the sentiment Sorkin presents or not, he certainly has struck a nerve, enough so to lead CNN to publish a series exploring the concept of American exceptionalism.  I certainly won’t claim to be enough of an expert to debate the merits of Sorkin’s position either in favor or against here.  But, what I can say with some level of authority is that what has, does, and will make this country great is insuring an educated citizenry.  This is not just an economic imperative; it is also a moral one.  There are reams of data that show conclusively that higher education results in significantly higher lifetime earnings and lower unemployment.  The difference in earnings and unemployment between college degree earners and non-degree earners is intensified when isolating groups such as lower socio-economic status, underrepresented groups, and first-generation Americans.  But what about the other impacts of education?

For starters, people with higher education are healthier, live longer and are less likely to be smokers, a benefit both to the individual and to our health care system.  They are also far more likely to engage in volunteerism and are more politically active and aware, resulting in higher engagement in the democratic process through voting.  Conclusion:  Higher education benefits our society.

As we look back on what we have done and look ahead to what we will do as a nation, education is a cornerstone to that once and future success.  Whether you believe America is or isn’t the greatest country on Earth, it certainly can be going forward if we are intelligent enough to invest in ourselves by insuring an educated citizenry. 

Confessions of a Theatre Major

When people learn what I do for a living, I quickly become quite popular at parties.  Inevitable questions about college selectivity, preparing for college, and “so what really is the best school” ensue.  The most popular question I get, though, is “so what did you major in for a career in higher education.”  The answer is often a surprise:  I was a theatre major.

Yes, I was a theatre geek (along with a double major in English, the degree that receives an equal amount of praise as major most likely to lead to a job at McDonalds:  see also Garrison Keillor.)  I picked up the acting bug when I was 16 when I got talked into doing a summer musical production of Sound of Music.  Fellow thespians can relate to that first experience on stage – the exhilaration, the fear, the sense of accomplishment.  It actually offered me the same high as I feel on the soccer field, except I’ve never felt stage fright before a soccer match.

Soon I was heading off to college.  I told my parents that I was going to major in Political Science and get a law degree.  Needless to say they liked that idea.  But, it wasn’t long before I realized I wanted nothing to do with political theory and what I really wanted to do was spend as much time as possible acting and singing.  After all, the people involved were pretty cool and what could be easier than a Theatre major, right?

Here’s a little secret:  being a Theatre major is HARD.  If you are in a liberal arts environment (which I highly recommend, but more on that later) then you are balancing Theatre courses with traditional curriculum.  You still need to take science, etc. as well as your acting and voice.  Not only that, Theatre majors study a lot of history, and Theatre History and Art History courses are quite extensive, along with literary criticism, art, design, and technology.  Then there are the practicum hours.  These are hours spent outside of regular classes and rehearsals honing the non-acting skills in areas of lighting, costuming and scenic design and construction.  Believe me, anyone that doesn’t understand why they need to learn higher math in high school figures out the reason really quick when applied to these skill areas.

And this is the point:  when you are in an undergraduate liberal arts environment, your specific major isn’t as important as what you study.  Yes, this is a highly nuanced statement.  What I mean is, if you major in music or art or history, you are still taking courses in science and math.  But what really makes liberal arts education work is the opportunity to apply that knowledge across different fields.  Musicians will back me up on this – the most successful musicians, composers and producers understand math and science, they have just learned to apply that knowledge to an artistic endeavor.  It is no wonder that I know a number of former music majors who are doctors, lawyers, and even a couple engineers.  The same is true for my Theatre major friends; doctors, lawyers, business owners, corporate leaders.  Did I also mention that Dr. Wife is also a Theatre geek?  How do you suppose we met?

A couple years into my first job out of college, I decided to test the waters and apply for a corporate job.  I interviewed with an international management consulting firm in New York City.  At the conclusion of the interview process, I met with one of the VP’s.  We got to talking and it turns out that this corporate VP actually majored in Dance in college.  He graduated, worked for a number of years on Broadway, went on for his MBA and now he was running a company.  With an undergraduate degree in the arts.

So, when you (or your son or daughter, depending on who is reading) decide you might want to major in the arts, don’t run away from the decision or let someone tell you it isn’t ‘practical’.  Arts graduates get jobs, even good paying ones.  Some do so in their artistic field, but many more pursue careers outside of the arts.  I’m reminded of the NCAA commercials that air during championship games:  going pro in something other than sports.  They are also satisfied with their choices as this recent study suggests:  http://www.insidehighered.com/quicktakes/2012/06/19/arts-graduates-are-generally-satisfied-employed.

Pursuing a Theatre major gave me a number of tools that have helped me be successful.  Critical thinking.  Communications.  Writing.  Creativity.  Problem solving.  Not to mention the ability to accept failure (every Theatre major faces rejection every time they audition for a show) and to persevere.  I’m comfortable in front of large groups of people (useful in my line of work) and I think well on my feet.  Though I never fully pursued a career in Theatre, I use my Theatre major every day in almost everything I do.  Not to mention meeting Dr. Wife.  It is good to be a geek.

College Cost, ROI, Student Loan Debt, and Mass Hysteria

George Orwell truly understood the nature of our society.  In 1984, Orwell creates a society where three ‘states’ exist and the ‘state’ of the protagonist is perpetually at war with one of the other states, thus creating a sense of fear in the populous designed to keep the masses in line.  This approach is not too different from Presidential politics and the usage of higher education as a pawn in this current Presidential cycle to illicit fear and manipulate the electorate.

Lest someone label me some sort of anarchist, let me explain my position.  In an effort to curry favor amongst voters, the candidates have launched predictable salvos at each other designed to create emotional responses from the middle class.  This year’s cause celeb is higher education.  Why?  Because higher ed is an easy target.  Everyone knows it is necessary for success in today’s economy, and everyone knows that it requires an investment.  However, in a down economy, that investment can seem quite daunting.

To stir the pot, the candidates and their surrogates are prone to hyperbole.  They spout scary statistics about the increase in the overall student loan debt without explaining the information behind the statistics.  They bemoan the rise in college tuitions but don’t look at what students are actually expected to pay.  And, they suggest that somehow a college education is less valuable because people are having a hard time finding a job.  This creates hysteria and scares many away from the most important investment they can make in their futures over an unfounded fear. 

So, let’s examine these arguments and infuse a little reality.  We’ll start with student loan debt.  Yes, overall student loan debt has reached record amounts (passing $1 trillion this year).  However, what no one is talking about is why.  Here’s the answer:  more students are going to college, which means there are more students borrowing.  In addition, the student loan debt total is the sum of ALL student debt including graduate school programs and professional programs such as medical school and law school, not just undergraduate.  To put this in perspective, my doctor wife had over $100,000 in medical school loans when she graduated which counts in that $1 trillion.  However, with those loans came pretty great earning potential and, by the way, loan forgiveness programs to help lessen the burden. 

What about the rising tuition question.  Have tuitions gone up?  Yes, they have.  But, when you buy a car, do you pay sticker price?  Hopefully not.  The same is true with college tuition.  Check out this graphic from the NPR Planet Money blog:  http://www.npr.org/blogs/money/2012/05/22/153316565/the-price-of-college-tuition-in-1-graphic.  What you will see here is that, while ‘sticker price’ has gone up, net price (what you actually pay) has actually gone down as colleges give out more grant aid.  So, over the last 10 years, college actually HAS NOT GOTTEN MORE EXPENSIVE.

Finally, has a college education become less valuable?  One could argue that earning potential has indeed dropped recently for college graduates, but this is not an indictment of the value of the degree, it is a reality of an economy slowly emerging from recession.  In other words, EVERYONE’s earning potential has decreased, but it won’t stay that way forever.  A better question is whether you can afford NOT to get a degree.  Look at unemployment.  The national unemployment rate is 8.3%.  However, the national unemployment rate for college graduates is under 4% while it is over 15% for non-college graduates.  Today’s global economy requires education, and education isn’t free.   It costs money to provide first-rate facilities, keep up with rapidly changing information technology, hire good teachers and, by the way, feed and house students.  Residence halls aren’t tents – they are your home away from home and need to not only be comfortable but conform to codes and regulations for occupancy and safety. 

Let’s go back to my doctor wife.  She comes from a decidedly blue color background.  In fact, she grew up in a trailer.  Today, she is a doctor.  Think the investment she made in her education wasn’t worth it? 

Before you consider running away from higher ed, examine all the facts and consider the investment you are making in yourself and in your future.  If you want to own a home, have a family, be able to take vacation and climb the economic ladder, you need an education.  And now is the best time to go to college.  Why?  Net cost is down and, if you don’t go, do you think you will get a job in this economy?  But if you wait until the economy gets better, you’ll be enrolling in school when you should be graduating and getting the benefit of graduating in a good economy – that is return on investment. 

At this time of year when students watch anxiously for "fat envelopes", I wanted to share some great insight from Patrick J. O'Connor, Ph.D., Director of College Counseling at the Roeper School in Birmingham Michigan 48009. He really hits the nail on the head...

The Best Advice When Colleges Say No

School counselors know the real March Madness begins next week, when some of the nation’s most selective colleges release their admissions decisions. As a pre-game warm-up, let’s stick with the facts we’ll need to comfort the Class of 2011

Most selective colleges are reporting a huge increase in the number of applications.
This increase is due in part to more American students applying to college, and colleges seeking out more students from overseas. Since this also happened last year, many colleges enrolled too many students last fall. They’ll have to make up for that, so many colleges will be admitting fewer students this year…and wait-listing more students. This increase means fewer students will be admitted from the wait list come May—and if they are admitted, financial aid will be scarce.

If none of that does any good, then just say this:

850.

No, this is not the high score on some new version of the SAT, and while it may indeed be the number of times Charlie Sheen appeared on TV last week, that (happily) has nothing to do with college.

850 is the number of valedictorians rejected last year from one of America’s most prestigious colleges. These students represented the best in their high schools; they did everything they were “supposed” to do—and yet, they didn’t even get to the wait list.

Once you share this with your students, ask them how these 850 students felt when they were rejected. Sooner or later, the right answer will come forward—“They probably felt like they put in all of that time and effort for nothing.”

And there is the teachable moment.

It had to be hard to be turned down by a school they loved—but did all of that preparation really lead to nothing? Given everything these students had learned, the many ways they had grown, and how they overcame adversity and embraced creativity in making Plans B, C, and Q, did they really get nothing out of it?

If so, they have every right to be unhappy, but not with the college. They should be unhappy for letting the sun rise and set 1307 times from the first day of 9th grade to the day the college said no, never once appreciating all that each of those days had to offer in and of themselves.

They should hang their heads a little to realize, just now, the difference they’ve made to their classmates, their teammates, and the people they served in the soup kitchen.

And if they look back with a little regret on the many times they blew off a compliment from a parent or a teacher because the goal of college wasn’t realized just yet, that’s more than OK. They now know it was at that moment that the goal of fully living each day was conquered with a flourish—and understanding that will make each day all the richer at the wonderful college that had the good sense (and room) to take them.

It isn’t easy to watch wonderful students work through the dismay and disappointment college decisions can bring, but if we remember the most important part of our work has nothing to do with who gets in and everything to do with who gets it, the disappointment will fade faster than the memory of the teams we had in last year’s NCAA pool, and students can move forward with a better sense of who they are, and what really matters. Now that’s college counseling.

Abolishing the Transfer Taboo

Here is text of an article I recently had published in Private Colleges & Universities magazine:

The college search process can be stressful. Part of what makes it stressful for many students is the belief that they have one chance to get it right, one chance to pick the right school that is going to be the perfect fit and open the doors to a bright and successful future. Transfer = Failure. That’s the myth.

Here’s the reality. No matter how well you’ve researched your schools of choice, how many times you’ve visited campus and how many “experts” you’ve consulted; the odds are you may consider transferring out of your school of choice. 33% of college students transfer each year according to the National Association for College Admission Counseling. That’s 1 in 3 students! In other words, a lot more students than you might think decide to start at one school and then end up graduating from somewhere else.

Reasons for transfer are as varied as students. Some start off with a plan that involves transfer – enrolling in a two-year private or community college with intention to move on later. Others will transfer because they change major or career path and find that the institution they are enrolled in doesn’t offer the academic program to support their new direction. Many others just find that the school they chose didn’t meet their expectations, either in terms of academic offerings, social outlets or it just wasn’t the right fit. Regardless of the reason, there are many advantages to transferring.

If you find yourself at your school of choice and suddenly realize you are in the wrong place, chances are things aren’t going well for you. The fact that you aren’t happy is may be affecting your academic performance. In fact, there is a well documented correlation between student satisfaction and achievement. So, if you aren’t happy, you won’t do as well. Pursuing transfer in this case is not a barrier to success, it is paramount to it. By starting over in a new environment, you can keep moving forward rather than continue to look back.

What happens if you change your academic focus? Believe it or not, this is a regular occurrence on college campuses. Did you know that 70% of college students change their major at some time in their college career and the average student changes majors 3 times? Chances are you won’t graduate college with the same major you intended to pursue or with the same career intentions. Let’s use me as an example:

When I went to college (back in the stone age), I was convinced I was going to be a lawyer and majored in Political Science because all lawyers major in Political Science, right? It wasn’t long before I learned two things. First, all lawyers do not major in Political Science and Political Science was not at all what I thought it would be. I ended up graduating college with degrees in Theatre and English (subject areas I truly enjoyed) and fell into a career in higher education. Who saw that coming? No one goes to college thinking about a career as an admission counselor. Part of college is finding yourself and, if what you find at your first institution is what you want to do with your life, then that is a major accomplishment. If that school doesn’t have the academic program to help you achieve your new goals then it is time to move on to somewhere that can. No failure there!

One of the more popular reasons for transfer is the planned transfer. 39% of American college students are enrolled in a public or private 2 year college (approximately 7 million people!). Of these, some are seeking to earn only an Associate degree, but the majority enrolls with intentions to transfer to a 4 year college or university. Why start 2 year? There are many reasons. Location is a big one. For many students, moving away from home right after high school graduation can seem quite daunting. Enrolling at a community college close to home gives you the chance to ease into the college experience without leaving the nest, so to speak. Another reason is cost. Most 2 year schools, public and private, are less expensive than 4 year colleges because they don’t have the same infrastructure costs. This means you can save a lot of money and take fewer loans by starting in a 2 year and transferring, leaving you with significantly less debt upon completion of your Bachelor’s degree.

For the majority of students at Dean College in Franklin, MA, starting at a 2 year school is all about positioning to gain admission to their dream schools. Let’s face it, high school isn’t for everyone. I spend my days getting to know students who perhaps didn’t live up to their potential in high school but who are capable of incredible success on the college level. Unfortunately, a large part of the admission process at many of the more selective colleges and universities is based on the academic transcript so a student with intelligence but not the grades or test scores to match can get shut out. By coming to Dean, these students are given the opportunity to reinvent themselves academically, learning important organization, time management and study skills in the process. In some cases, it may also provide you the chance to prepare for a collegiate transition you may not have been emotionally ready for right after high school.

They do this within a very traditional residential college environment, going to class alongside students with similar experiences and even students in our baccalaureate degree programs. When they graduate, they earn admission to schools that may not have even considered them coming out of high school (98% of Dean graduates who seek transfer are accepted). At graduation each year, I get to share in their successes as I learn of their admission to schools like New York University, Boston University, Cornell, University of Michigan, University of Southern California and many, many more. When they earn their diploma from these selective schools, there isn’t a designation that says “transferred in and graduated”, they get the same diploma as the students who studied there for four years. Success is about what is accomplished at the conclusion of the journey, not where you started.

The transfer process is much easier than you think. Most colleges and universities accept transfers each year and the criteria for admission is often less stringent than the requirements for freshmen admission. How can this be? Basically, you’ve proved you are able to succeed at the college level. For example, a highly selective school may have an average accepted freshman GPA of an A-, but they are willing to accept a transfer student with a B average in college. Some colleges will even waive SAT/ACT requirements for students who have a minimum number of college credits, so if test scores kept you out the first time, proving yourself capable of succeeding in college classes can reopen the door to you.

Transfer is not taboo. Want proof? Talk to people in your community and ask them if they graduated college from the same school they started at. You might be surprised with what you find. As you enter into your college search, keep in mind that there are always second chances and many different paths to the same destination. If you find that your school of choice isn’t what you thought it would be or you don’t gain admission to the places you hope to, remember that the transfer option is not only available, it may just be your ideal road to success.

Know What You're Signing Up For

For anyone wandering into the realm of higher education, the myriad of options may seem overwhelming. What path is best for me? Public or Private? College or University? Big or Small? Community College or Trade School? The list goes on. One of the most confusing additions to these questions is the meteoric rise of for-profit institutions in the last decade.

What is the difference between a for-profit and a not-for-profit. The simple answer is that not-for-profit institutions are not really "owned", they are operated. For example, your flagship state university is not so much owned by the state, it is operated on state or federally held land. This is where the phrase "land-grant" comes from. As a result, all dollars absorbed by a not-for-profit are re purposed within a campus' operations, either through student instruction and services, facility upkeep and new construction, or through re-investment in the endowment which serves as both a pool for distribution of financial aid and scholarships and a sort of a rainy day fund should an emergency arise where a quick dose of cash is needed - for example, the water pipes need replacement across campus. Ultimately, all money absorbed by a not-for-profit is either directly or indirectly used for the eduction of the student.

Not so with for-profit institutions. For-profits are owned by a single owner, an ownership group or a corporation. Because they are privately held companies, they have greater flexibility in what they can do with dollars they absorb and they are under no obligation to put those dollars towards student education. As a result, any dollars brought in by these businesses above and beyond the cost of running the business become profit for the owner(s), they do not need to be reinvested. Given the great need for an educated populous in today's economy, for-profits are able to market an in-demand service and make a great deal of profit with little to no accountability to the consumer. Check out this great article on CNN today that illustrates the pit-falls of the for-profit higher education industry.

This isn't to say that for-profit always equates to bad. For-profits have their roots in providing educational services that meet very specific vocational goals. Schools such as DeVry and ITT Tech have for years been providing students seeking career advancement in specific fields such as mechanics, computer technical repair and secretarial work. However, they do so with a cost and sometimes those costs are more than a student bargains for. Also, the "degree" they earn may not be the degree they thought they would be obtaining. Most for-profit institution credits are not accepted by not-for-profit institutions because they lack the appropriate accreditation, making the credits obtained obsolete when a student goes to transfer.

As with all aspects of the college search, it is important to ask questions and get all the facts before making a commitment. If you are a considering a for-profit, do your research and know what you are signing up for - it could save you a lot of frustration in the long term.

Admissions and Learning Disabilities

Over the last several years, more and more students with diagnosed (and undiagnosed) learning disabilities are pursuing a college education. This is a great step forward for higher education. There are a number of theories on the reasons for this trend ranging from more frequent diagnosis to colleges and universities being better equipped to provide services for students with differing learning styles. Regardless of the why's, it is important to think about the how's and where's.

Dean College has a long history of services for students with learning disabilities. Our ARCH Learning Community offers one of the preeminant programs in the country in this area. But how do you navigate the admissions process as a student with or a family supporting a student with a learning disability? Dean College President Dr. Paula Rooney shares her perspectives in a recent post on the Campus Overload blog for the Washington Post. Great insight to get started!

The World Cup and College Choice

Every 4 years, the world stops for me. A leap year birthday you ask? No, the globe’s most popular sporting event, the World Cup, is upon us. As a lifelong soccer aficionado, countless hours of watching international friendlies and qualifiers culminates in a month long buffet of the best football/soccer. As I sat up last night catching up on the day’s results and goals, it occurred to me that my love of “the beautiful game” has interesting parallels to my professional life.

In soccer, anyone can win at any time. While this is true in other sports, it is nowhere more apparent that at the World Cup where success is never assured. Much prognostication about the matches played is based on pedigree – the global football powers who are expected to offer the upstarts who found their way into the tournament a quick dose of reality. Teams like Brazil, France, Germany, Spain, England and Argentina are expected to dominate while the South Korea’s and Honduras’ are told they should just be happy to be there. But a funny thing happens when these teams get together on a new continent – nothing is assured.

This is similar in the college selection process. From practically infancy, children are told they must strive to gain admission to the “best” schools, the schools that reputations and U.S. News tells us will offer graduates a path paved in gold to success. What conventional wisdom neglects to take into consideration though is that the students applying to colleges and universities each year are INDIVIDUALS, and need to be treated as such. What do I mean by this? Well, a student may have done all the “right” things – excelled academically, earned a killer ACT/SAT score and done all the other intangibles to earn admission to the nation’s most selective schools. But that doesn’t mean they should go there. The simple truth is if a student isn’t happy, they won’t be successful, no matter where they go. And getting into and attending Harvard isn’t a guaranteed path to anything if you can’t make the grade.

The same is true in this year’s World Cup. France, one of the most successful soccer nations of the last 20 years is out after the first round, winless in 3 matches. This is a team with some of the most talented players on the planet, yet they couldn’t even muster a win over host South Africa, one of the lowest ranked teams in the tournament. Why? The players were miserable. Infighting, instability and a lack of singular focus led to an early exit.

What’s the point? If you choose a college purely on reputation, you may be setting yourself up for failure. There is so much more that goes into the decision including who you are going to class with, what happens outside of class and frankly, the intangible “gut” feeling. Selecting a college where you will be happy and engaged in a community that will work with you to help you succeed is a whole lot better than choosing the one an arbitrary ranking system selected for you. You are a human being, full of potential and frailty. Why choose a school based solely on the numbers?

Oh, and GO USA!

Introductory Post

Welcome to the Dean Dean blog. Why this blog as opposed to others? Well, if you or someone close to you is interested in Dean College, then you will probably find some interesting insight into our community and admissions process here. If you are interested in enrollment related issues with regards to colleges and universities, you'll find some of my opinions on current trends here as well. Ultimately, what you'll get is honest opinions from someone who has been in the profession for over 15 years.

It has been a remarkable first year here at Dean College. We have seen record applications and are on the verge of record enrollment. The campus is going through many changes, from our new Main Stage and Dining Center wing on our Campus Center to the unveiling of 3 new baccalaureate degrees in Liberal Arts & Studies, Business and Theatre. The staff in the Office of Admission has come together as a great team and works tirelessly on behalf of the students who choose to apply to Dean. All in all, 2009-2010 has been great, but we expect 2010-2011 to be even better!

What is in store for the future? Well, we just launched our new VIRTUAL TOUR and, in less than a month, will launch a new admissions website. By the end of the summer, www.dean.edu will get a full facelift as well to make it more navigable and serviceable for prospective families and the community.

I hope you will enjoy keeping up with Dean College through this blog. Please feel free to comment freely, ask questions, and share ideas here as you wish. I hope my musings will be useful, if not entertaining!