WBEZ | college http://www.wbez.org/tags/college Latest from WBEZ Chicago Public Radio en Student loan debt hurdle for Chicago's wanna-be homebuyers http://www.wbez.org/news/student-loan-debt-hurdle-chicagos-wanna-be-homebuyers-110340 <p><p><img alt="" class="image-original_image" src="http://www.wbez.org/system/files/styles/original_image/llo/insert-images/michelle-tim-student-loans_0.jpg" style="height: 373px; width: 280px; margin-left: 5px; margin-right: 5px; float: left;" title="Michelle Skinner and Tim Johnson have been married for almost a year, and were hoping to buy a house, but they’re struggling to save because of their student loan debt. Johnson has $27,000 from UIC, and though Skinner is getting her pHD at the University of Chicago, her $70,000 in loans from UIC will begin to slowly come out of deferment next year. (WBEZ/Lauren Chooljian)" />There&rsquo;s one room in his Bridgeport apartment that Tim Johnson likes to make special note of when giving a grand tour. The bright, sunny space used to be the landlord&#39;s bedroom, but now it functions as a living room for him and his wife Michelle Skinner.</p><p>But that&rsquo;s not what makes it special.</p><p>&ldquo;I&rsquo;m really proud of this room because we didn&rsquo;t pay for anything in it,&rdquo; Johnson announces. &ldquo;Everything came from family members or we found it somewhere. Except for the credenza, we had to buy that because nothing else fit.&rdquo;</p><p>It&rsquo;s easy to see that Johnson prides himself in his penny-pinching skills. He says he even tracks his credit score like some others might track their favorite sports team.</p><p>But even with his meticulous financial planning, the newlyweds say that buying a home is out of the question - thanks to their student loan debt.</p><p>Johnson, 27, has about $27,000 in student loans from the University of Illinois at Chicago. He says his payments are manageable for now, but as Skinner, 23, continues through her PhD program at the University of Chicago, her $70,000 in undergraduate loans will slowly come out of deferment -- making it almost impossible for them to save enough for things like a downpayment or closing costs, no matter how badly they want more room for a baby one day.</p><p>&ldquo;We try to save Tim&rsquo;s bonuses for it,&rdquo; Skinner said. &ldquo;But the market prices have been increasing - or at least what we need has been increasing at a proportion to which we can&rsquo;t save.&rdquo;</p><p>&ldquo;We&rsquo;ve given up on it for like five years,&rdquo; Johnson said. &ldquo;Once Michelle gets out of school and gets a full-time position then we can start to look. And what has me worried is, (whether) we&rsquo;ll have a down payment by that point.&rdquo;</p><p>You don&rsquo;t have to look far to find another example of hopeful home-buyers struggling to get out from under their student debt. Just a few blocks away, Martin Gleason and Shannon Glass are also doing the math to see whether they can buy a home with all their student loan debt.</p><p><img alt="" class="image-original_image" src="http://llnw.wbez.org/styles/original_image/llo/insert-images/marty-shannon-student-loans_0.jpg" style="height: 240px; width: 320px; float: left; margin-left: 5px; margin-right: 5px;" title="Marty Gleason and Shannon Glass have been living in their Bridgeport apartment for the last three years. They’d love to buy a bigger place, but with his $96,000 worth of student debt, and her soon to be $25,000 in student debt, they don’t think they can afford it. (WBEZ/Lauren Chooljian)" />They&rsquo;ve been married since 2009, and have been living in Bridgeport for the last three years. Gleason has around $96,000 in student debt from both undergrad and graduate school -- he&rsquo;s currently a Juvenile Court Probation officer, but is making a career switch to IT. Shannon, his wife, is currently going back to school, and even though her job at Time Magazine reimburses about half of her tuition, she&rsquo;ll still need about $25,000 in loans.</p><p>&ldquo;To be fair, it&rsquo;s not unbearable,&rdquo; Gleason said. &ldquo;But it&rsquo;s also like we&rsquo;re treading water.&rdquo;</p><p>It&rsquo;s hard to know just how many other Chicagoans are in a similar situation, as research or housing data only really keeps track of the people who end up buying a place. For example, the <a href="http://economistsoutlook.blogs.realtor.org/2014/06/05/nar-survey-data-student-debt-and-saving-for-downpayment-among-successful-home-buyers/">National Association of Realtors</a> found that 54 percent of first-time homebuyers reported that student debt delayed saving for the purchase of a home, but they can&rsquo;t count how many didn&rsquo;t buy, or couldn&rsquo;t buy, because of student debt.</p><p>But local realtors and lenders will tell you, they see this all the time.</p><p>&ldquo;The thing that&rsquo;s really sad about this is that we are, particularly in the Chicago market, at an all-time high of affordability. Interest rates are so low, that you&rsquo;re able to buy much more of a house,&rdquo; said <a href="http://www.atproperties.com/agents/4064/david-zwarycz">David &nbsp;Zwarycz</a>, broker associate at @properties. &quot;However, if your available funds are being depleted because you&rsquo;re servicing student debt, you&rsquo;re losing out on this opportunity.&rdquo;</p><p>But even if wanna-be buyers with student debt can cobble together enough for that down payment, there&rsquo;s still another hurdle that&rsquo;s hitting them particularly hard. It&rsquo;s called the debt-to-income ratio, and it means pretty much just that.</p><p>You add up all your monthly debt payments -- like student loans, car loans, credit card debt -- and divide it by your monthly income. Some experts say rent is also included in the calculation, but the Consumer Financial Protection Bureau contends it&rsquo;s included in a separate equation.</p><p>New <a href="http://www.consumerfinance.gov/askcfpb/1791/what-debt-income-ratio-why-43-debt-income-ratio-important.html">Consumer Financial Protection Bureau</a> rules that started in January maintain that 43 percent is the highest ratio a borrower can have and still get a qualified mortgage from a lender. So if you&rsquo;re bringing home $3500 a month, that only gives you about $1500 to pay all of your bills and come in at 43 percent.</p><p>And with Illinois <a href="http://projectonstudentdebt.org/state_by_state-view2013.php?area=IL">graduates </a>carrying an average of $28,000 in student loan debt, 43 percent can be a tough number to avoid, so a lot of hopeful young buyers are getting turned down.</p><p>Dan Gjeldum, senior vice president of mortgage lending at Guaranteed Rate, says they deal with this often. They&rsquo;ve also seen a lot of parents coming in recently to co-sign to try and help the cause.</p><p>&ldquo;There are more and more people who have student debt for sure,&rdquo; he said. &ldquo;The increase in cost of college education, as a father with four kids - three in elementary school and one in preschool - I don&rsquo;t freak out daily about it, but whenever I think about it, I get nervous.&rdquo;</p><p>&ldquo;I don&rsquo;t know if the industry could have planned ahead for it, or viewed it any differently because the debt is real, and the debt has to be paid back, I think it&rsquo;s a problem that&rsquo;s going to move into the future because of the rising cost of education.&rdquo;</p><p>For those who just squeak in under the debt-to-income-ratio, Zwarycz says their debt still matters, as the more they carry, the weaker their buying power. And he says that&rsquo;s been causing a slowdown in Chicago&rsquo;s entry level market.</p><p>&ldquo;There&rsquo;s this large amount of inventory particularly in the city&rsquo;s smaller condominiums that are typically first-time homebuyer properties. If an individual can&rsquo;t sell their first-time home property that they bought five years ago, they can&rsquo;t move up to the upgrade property. And that has sort of a ripple effect through the entire market,&rdquo; Zwarycz said.</p><p>But there&rsquo;s a reason these restrictions were put into place in the first place.</p><p>&ldquo;At the end of the day, I&rsquo;d rather us be complaining about lending being too strict, that it being too loose,&quot; said Daren Blomquist, RealtyTrac VP.</p><p>Blomquist said he&rsquo;s worried about all this too, but experiencing another big crash like 2008 is a much bigger concern.</p><p>&ldquo;Too loose lending got us into the housing bubble, so it&rsquo;s the lesser of two evils, I would say, to have us have tough lending and it is keeping things in check,&rdquo; he said.</p><p>&ldquo;We can&rsquo;t wave a magic wand and make that student loan debt not be a factor in loan qualification, and even if we did have that magic wand, we shouldn&rsquo;t use it because it would have hugely negative impacts on the housing market.&rdquo;</p><p>David Zwarycz&rsquo;s partner <a href="http://debradobbs.com/">Debra Dobbs</a> says she&rsquo;s constantly talking to colleagues about finding a way around this problem.</p><p>She says maybe lenders could start dealing with student debt differently in the ratio than say credit card debt from big clothing purchases or an auto loan for a fancy car.</p><p>She&rsquo;s tired of seeing clients like a married couple - both doctors - who have so much student debt that their combined salaries still weren&rsquo;t enough to get a loan the first time.</p><p><em>Lauren Chooljian is a WBEZ reporter. Follow her</em> <a href="https://twitter.com/laurenchooljian">@laurenchooljian</a></p><p><em>This story was edited June 16, 2014, to clarify what factors are included in the debt-to-income ratio.</em></p></p> Fri, 13 Jun 2014 07:56:00 -0500 http://www.wbez.org/news/student-loan-debt-hurdle-chicagos-wanna-be-homebuyers-110340 After suicide attempt, college student helps others deal with mental illness http://www.wbez.org/series/storycorps/after-suicide-attempt-college-student-helps-others-deal-mental-illness-109943 <img typeof="foaf:Image" src="http://llnw.wbez.org/main-images/Screen Shot 2014-03-31 at 1.43.50 PM.png" alt="" /><p><p>Three years ago, Wesleyan college student Molly Jenkins tried to take her own life&mdash;twice.</p><p>Molly told her mom that her suicidal thoughts first began while recovering from a major surgery that left her bedridden.</p><p>After 6 months of therapy at Chicago&rsquo;s Rush Hospital, she returned to college and became a mental health advocate.</p><p><strong>Molly: &ldquo;It was really important for me to come out with this stamp on my forehead that said, &lsquo;I&rsquo;ve attempted suicide and I don&rsquo;t care what you guys think&rsquo; because I knew there were other people who, like me, were suffering in silence.&rdquo;</strong></p><p>To hear Molly and her mother discuss this trying period in their lives for the first time, check out the audio above.</p><p><em>Meredith Zielke is a WBEZ producer. </em></p><p><iframe frameborder="no" height="450" scrolling="no" src="https://w.soundcloud.com/player/?url=http%3A%2F%2Fapi.soundcloud.com%2Fplaylists%2F6250422" width="100%"></iframe></p></p> Fri, 28 Mar 2014 14:02:00 -0500 http://www.wbez.org/series/storycorps/after-suicide-attempt-college-student-helps-others-deal-mental-illness-109943 Morning Shift: Looking at the past and hazy future of fraternity pledging http://www.wbez.org/programs/morning-shift-tony-sarabia/2014-03-26/morning-shift-looking-past-and-hazy-future-fraternity <img typeof="foaf:Image" src="http://llnw.wbez.org/main-images/hazing Flickr opacity.jpg" alt="" /><p><p>We get a preview of Governor Pat Quinn&#39;s budget address. Also, some details behind a proposal to create another Big Ten public university in Illinois. And, housing news from real estate reporter Dennis Rodkin.&nbsp;</p><div class="storify"><iframe src="//storify.com/WBEZ/morning-shift-looking-at-the-past-and-hazy-future/embed?header=false" width="100%" height=750 frameborder=no allowtransparency=true></iframe><script src="//storify.com/WBEZ/morning-shift-looking-at-the-past-and-hazy-future.js?header=false"></script><noscript>[<a href="//storify.com/WBEZ/morning-shift-looking-at-the-past-and-hazy-future" target="_blank">View the story "Morning Shift: Looking at the past and hazy future of fraternity pledging" on Storify</a>]</noscript></div></p> Wed, 26 Mar 2014 08:20:00 -0500 http://www.wbez.org/programs/morning-shift-tony-sarabia/2014-03-26/morning-shift-looking-past-and-hazy-future-fraternity Big sister shares tips on how to survive the loneliness of high school http://www.wbez.org/series/storycorps/big-sister-shares-tips-how-survive-loneliness-high-school-109219 <img typeof="foaf:Image" src="http://llnw.wbez.org/main-images/Lucy and Jennifer.JPG" alt="" /><p><p>When Lucy Zhuo left for college this fall, her little sister, Jennifer, didn&rsquo;t realize how much she would miss her. The two visited the Chicago StoryCorps&rsquo; booth recently to catch up.</p><p><strong>Jennifer</strong>: Honestly, it&rsquo;s been really lonely, since you&rsquo;re, like, my only sister ...</p><p>Jennifer said having her sister away at college was especially hard now because she&rsquo;s a sophomore this year, and is taking several junior classes. The other students are older than her, so she doesn&rsquo;t know them. She said the tendency of students to gossip limits what she shares with her friends.</p><p><strong>Lucy</strong>:.. I learned going into college how important it is not to get so sucked up into your work especially since your family&rsquo;s not around. You rely on your friends in college. You need to find those friends. You can&rsquo;t isolate yourself.</p><p><em>To hear the rest of Lucy&rsquo;s advice to Jennifer about how to survive (and even enjoy!) high school, click on the audio above.</em></p><p><iframe frameborder="no" height="450" scrolling="no" src="https://w.soundcloud.com/player/?url=http%3A%2F%2Fapi.soundcloud.com%2Fplaylists%2F6250422" width="100%"></iframe></p><p>&nbsp;</p></p> Fri, 22 Nov 2013 08:00:00 -0600 http://www.wbez.org/series/storycorps/big-sister-shares-tips-how-survive-loneliness-high-school-109219 Morning Shift: A Superbowl champ tackles concussions in the game http://www.wbez.org/programs/morning-shift-tony-sarabia/2013-09-06/morning-shift-superbowl-champ-tackles-concussions <img typeof="foaf:Image" src="http://llnw.wbez.org/main-images/Football - Flickr- LITTLE MIAMI LACROSSE.jpg" alt="" /><p><p>Chicago Bears Superbowl champ Dennis McKinnon discusses a new film that takes on the concussion epidemic in the NFL. Also, financial expert Sandy Botkin gives tips on saving for one of the mor financially taxing expenditures any of of us makes - higher education.</p><div class="storify"><iframe allowtransparency="true" frameborder="no" height="750" src="//storify.com/WBEZ/morning-shift-59/embed?header=false" width="100%"></iframe><script src="//storify.com/WBEZ/morning-shift-59.js?header=false"></script><noscript>[<a href="//storify.com/WBEZ/morning-shift-59" target="_blank">View the story "Morning Shift: A Superbowl champ tackles concussions in the game" on Storify</a>]</noscript></div></p> Fri, 06 Sep 2013 08:24:00 -0500 http://www.wbez.org/programs/morning-shift-tony-sarabia/2013-09-06/morning-shift-superbowl-champ-tackles-concussions Morning Shift: Fear, excitement and uncertainty face the college bound http://www.wbez.org/programs/morning-shift-tony-sarabia/2013-08-09/morning-shift-fear-excitement-and-uncertainty-face <img typeof="foaf:Image" src="http://llnw.wbez.org/main-images/Dorm-Flickr- Robert Boscacci.jpg" alt="" /><p><p>Are you or one of your kids heading off to college? We discuss some of the trepidation both students and parents face as they make the jump to college co-ed.</p><script src="//storify.com/WBEZ/morning-shift-40.js?header=false"></script><noscript>[<a href="//storify.com/WBEZ/morning-shift-40" target="_blank">View the story "Morning Shift: Fear, excitement and uncertainty face the college bound" on Storify</a>]</noscript></p> Fri, 09 Aug 2013 08:13:00 -0500 http://www.wbez.org/programs/morning-shift-tony-sarabia/2013-08-09/morning-shift-fear-excitement-and-uncertainty-face Illinois Truth in Tuition law helps families but hurts schools, experts say http://www.wbez.org/news/illinois-truth-tuition-law-helps-families-hurts-schools-experts-say-108167 <p><p><img alt="" class="image-original_image" src="http://www.wbez.org/system/files/styles/original_image/llo/insert-images/Truth%20Tuition_130723_AY.jpg" style="height: 304px; width: 600px; float: left;" title="Spending on college overall has fallen since the recession. That, along with the Illinois requirement to fix tuition for four years, makes budgeting difficult for state universities. (Sallie Mae)" />As the Illinois Truth-in-Tuition law reaches its 10th year, experts say it helps families plan for college, but it makes it harder for public colleges to be strategic.</p><p>The law allows Illinois undergraduate students at public universities to attend school for four years without tuition increases. An amendment passed in 2010 extended it to six years, though allowing the school to increase tuition rates for fifth or sixth year students, as long as the price matches that of the students that came immediately after then.</p><p>Although the law provides some stability to students, it has hurt universities, says Allan Karnes, accounting professor at Southern Illinois University Carbondale and member of the Illinois Board of Higher Education.</p><p>For example, when a university needs to increase tuition due to rising costs, inflation or decreasing state support, the incoming class has to shoulder the entire increase because their counterparts cannot pay higher fees.</p><p>&lsquo;It appears we&rsquo;re raising tuition much more than we actually are, and so that cast us in a bad light,&rdquo; Karnes says.</p><p>Moreover, the binding law requires public universities to guess what their budget will be for the next couple of years, says Thomas Hardy, executive director for media relations at the University of Illinois.</p><p>&ldquo;It requires that the university take a bit of foresight in terms of where cost may go, and then reading a bit of a crystal ball, set tuition that will be fixed for a four year period,&rdquo; Hardy says. &ldquo;It locks us in for a four-year period.&rdquo;</p><p>He adds that this comes at a time of decreasing state support. Since 2002, the University of Illinois has lost about $1 billion in spending authority, leading to tuition hikes and cuts. For example, the university shut down its Institute of Aviation in July 2011.</p><p>Having to predict future costs is also difficult, says Kinga Mauger, the bursar at Northern Illinois University. For example, the school did not expect the recession. Although the school faces rising costs, Mauger says it doesn&rsquo;t want to simply ask incoming students to shoulder the burden. As a result, budgeting is far more difficult.</p><p>A new survey of 800 undergraduates and parents nationwide from student loan company Sallie Mae found that since 2010 and the recession, parents have paid less for college, relying more on loans, grants and scholarships. Overall, high and low-income families have paid less for college since 2010, but middle-income families have paid more.</p><p>Beyond Illinois, a federal Truth in Tuition proposal has been sent to a House committee.</p><p>It requires schools to give students a multi-year fee schedule upon admission, but allows for changes.</p><p>Karnes of the Illinois State Board of Education says lawmakers are not in the best position to draft tuition policies.</p><p>&ldquo;There&rsquo;s not a general understanding at that level (of) what the budgetary pressures are,&rdquo; Karnes says. &ldquo;Every school is different. We determine what tuition should be by what our costs are. We&rsquo;re not trying to make money. We&rsquo;re just trying to break even.&rdquo;</p><p><em>Alan Yu is a WBEZ metro desk intern. Follow him @Alan_Yu039.</em></p></p> Wed, 24 Jul 2013 13:46:00 -0500 http://www.wbez.org/news/illinois-truth-tuition-law-helps-families-hurts-schools-experts-say-108167 MOOCs? Distance learning? Technology's impact on higher education http://www.wbez.org/blogs/bez/2012-11/moocs-distance-learning-technologys-impact-higher-education-104022 <p><div class="image-insert-image "><img alt="" class="image-original_image" src="http://llnw.wbez.org/styles/original_image/llo/insert-images/rsz_ap667092808394.jpg" style="height: 414px; width: 620px;" title="Peter Struck, Associate Professor at the University of Pennsylvania records a lecture (AP Photo/Matt Slocum)" /></div><p>This past summer I traveled to South Africa to lecture at a number of private and state universities. South Africa has 23 institutions of higher education, which offer a full range of majors and curricula. And while these schools offer their students a traditional classroom experience, each of these institutions also offers its students some distance learning options. Depending on college and the major requirements, a student is able to take all, a large portion or at least some of their core classes online.</p><p>The various methods of distance learning include the old fashioned &ldquo;snail mail&rdquo; correspondence school method: Students do a series of written assignments and mail them to an instructor, who corrects and grades them. There are also telecast lectures, interactive broadcasts that allow students to interrupt a lecture to ask a question or request more detailed information. Finally, there are computer-based classes that offer either one-to-one experiences or MOOCs &mdash;&nbsp;massive open online courses &mdash; that operate on a virtual classroom and chat room model.</p><p>South African schools have invested so heavily in distance-learning methods for both practical and pedagogic reasons. South Africa needs to educate its growing population in order to maintain its relatively new status as a democratic nation. Distance learning reaches more potential students at a much more affordable price.</p><p>In American education, cost is nearing a tipping point. Post 9/11, nearly all universities have dramatically increased their tuition and most state schools have experienced a significant diminishment of government support; some state schools have been forced to more than double tuition since 2001. Both parents and students are looking for ways to diminish the overall cost of a university education.</p><p>One plan widely discussed in the halls of academia is to reduce the on campus university experience from four to three years without radically changing the course load &mdash; students would be in residence for three years and be charged three years of tuition. While in residence, besides taking face-to-face classes, they would also fit in one year of virtual classes at their convenience at no extra charge. These virtual classes would usually be required courses not in a student&rsquo;s major.&nbsp;The primary argument for this plan is that it gets students through school at a faster pace and at a lesser cost without sacrificing their overall learning experience.&nbsp;</p><p>I&rsquo;m not sure this curriculum&nbsp;telescoping will really work. But, like South Africa, we&rsquo;ve got to learn how to be more creative and experimental. Just as South Africa needs to educate its youth to service and maintain its democratic form of government, <em>so do we!</em></p><p><em>Al Gini is a Professor of Business Ethics and Chairman of the Management Department in the Quinlan School of Business at Loyola University Chicago.</em></p></p> Thu, 29 Nov 2012 05:00:00 -0600 http://www.wbez.org/blogs/bez/2012-11/moocs-distance-learning-technologys-impact-higher-education-104022 Why do college students cheat? http://www.wbez.org/blogs/bez/2012-09/why-do-college-students-cheat-102466 <p><div class="image-insert-image "><img alt="" class="image-original_image" src="http://www.wbez.org/system/files/styles/original_image/llo/insert-images/AP612514602326.jpg" title="A cheating investigation at Harvard University calls us to ask why so many students cheat. (AP Photo/Elise Amendola)" /></div><p>Harvard University found itself in the news thisweek when <a href="http://www.nytimes.com/2012/09/19/sports/ncaabasketball/harvard-cheating-scandal-revives-debate-over-athletics.html?pagewanted=all">125 undergraduates, many of them varsity athletes, were accused of cheating on a take-home exam</a>. But the accused at Harvard are hardly alone: Donald McCabe of Rutgers University, who has been monitoring student cheating since 1990, reported in an article in <em>Time</em>&nbsp;Magazine that in a 2010-2011 survey, 62 percent of undergraduates admitted to cheating on exams or term papers.</p><p>I&rsquo;ve been teaching at the university level for over 40 years and I believe this number &mdash;&nbsp;62 percent of the students cheat or plagiarize &mdash;&nbsp;is somewhat of an exaggeration, and has to be put into context. I know from my years in the classroom that students will and do cheat. But, and this is an important but, it&rsquo;s not the case that 62 percent of all students are cheating all the time. The disappointing fact is that lots of students cut a few corners at least one, sought out inappropriate help, got someone to finish an assignment for them, paraphrased more than is usually allowed or faked a footnote or two. But my experience does not lead me to believe that the majority of students are cheating all the time. Teachers don&#39;t have to be constantly on guard or in an adversarial relationship with their students.</p><p>The &ldquo;exact number&rdquo; of students who cheat is less interesting to me than knowing<em> why</em> students cheat. On one level students cheat for all sorts of pedestrian reasons: not being properly prepared, issues of time management, the raw fear of failure. But there are darker and more alarming reasons as well.</p><p>Unfortunately, a lot of students cheat because they don&rsquo;t take college seriously. They feel that they are there because they have to be &mdash;&nbsp;to get a job and get on with their lives. Too many college students are totally bored with the academic part of the university experience. And, because they are bored, as Donald McCabe suggests, they feel that &ldquo;they can make their own rules.&rdquo; College for too many students is about social contacts, future business contacts or just plain fun, before they are slowed down by the responsibilities of adult life. Consequently, if they are bored and their interests really lie elsewhere, cheating makes sense.</p><p>I think all universities and colleges need to address this issue. When I was an undergraduate, (just after Guttenberg developed moveable type) cheating of any kind meant you were automatically dismissed from the university, end of issue. I know it sounds Draconian, and it is &mdash; I don&rsquo;t think it we should reinitiate this kind of policy. But I do know we have to do something. We need to change the college culture and, perhaps the place to start is to remind our students that no matter how much money their family has, college is a privilege and not an entitlement. Nor should college simply be seen as a job fair. It&rsquo;s about character formation. And do they really want to cheat on that?</p><p><em>Al Gini is a Professor of Business Ethics and Chairman of the Management Department in the Quinlan School of Business at Loyola University Chicago.</em></p></p> Thu, 20 Sep 2012 05:00:00 -0500 http://www.wbez.org/blogs/bez/2012-09/why-do-college-students-cheat-102466 What's a liberal arts degree worth nowadays? http://www.wbez.org/blogs/bez/2012-07/whats-liberal-arts-degree-worth-nowadays-101179 <img typeof="foaf:Image" src="http://llnw.wbez.org/main-images/RS3682_Cap and Gown_Flickr_Sea Turtle_0.jpg" alt="" /><p><p>Doomsayers be damned: America&rsquo;s higher-education model, and its price tag, ain&rsquo;t broke. So says Northwestern University President Morton Schapiro. In a <a href="http://www.latimes.com/news/opinion/commentary/la-oe-adv-glassnerschapiro-education-college-20120703,0,7560066,print.story" target="_blank">recent op-ed</a> for the <em>L.A. Times</em>, Schapiro and Lewis &amp; Clark College President Barry Glassner argue that the college premium &mdash; the ratio of college earnings to high school earnings &mdash; justifies the investment in higher education. Individuals with a college degree now make almost 85 percent more over a lifetime than those with only a high school diploma.</p><p>But statistics are tricky &mdash; while one economist opts to focus on the long-term returns, another is focused on the immediate future, which, for many recent college graduates, is bleak. More than 50 percent of bachelor&rsquo;s degree-holders under the age of 25 were jobless or underemployed in the last year. So if and when a college graduate gets a job, he&rsquo;s likely to earn, on average, $20,000 more annually than a person with a high school diploma. But when the average student is graduating with $25,000 in student-loan debt, he or she might be a bit more focused on getting <em>a</em> paycheck, any paycheck.</p><p>This might explain why, as Ohio University economics professor <a href="http://www.ohio.edu/economics/faculty_staff/vedder.html" target="_blank">Richard Vedder</a> is quick to point out, there are 80,000 bartenders and 115,000 janitors with bachelor&rsquo;s degrees.</p><p>It&#39;s true, some majors pay more than others. <a href="http://www.payscale.com/best-colleges/degrees.asp" target="_blank">PayScale</a> did a salary survey of the top college majors that lead to high salaries. You won&rsquo;t find liberal arts in the top 10 below &mdash; the classic course of study is about 75 down from the top of the list.</p><div><a href="http://www.payscale.com/best-colleges/degrees.asp" style="font-weight: bold; color: #333333; font-family: Verdana,Arial,Tahoma,Helvetica,sans-serif; font-size: 18px; text-decoration: none">Best Undergrad College Degrees By Salary</a></div><table><tbody><tr><td style="vertical-align:top"><a href="http://www.payscale.com/best-colleges/degrees.asp"><img alt="Degrees" src="http://www.payscale.com/staticdatachart.aspx?mode=Chart&amp;dataset=Pay You Back.2011&amp;title=Best Undergrad College Degrees By Salary" style="border: medium none; width: 465px; height: 372px;" /></a></td><td style="vertical-align:top"><img alt="Degrees" src="http://www.payscale.com/staticdatachart.aspx?mode=Legend&amp;dataset=Pay You Back.2011" /><br /><b>Methodology</b><br />Annual pay for Bachelors graduates without higher degrees. Typical starting graduates have 2 years of experience; mid-career have 15 years. See <a href="http://www.payscale.com/best-colleges/salary-report.asp">full methodology</a> for more.</td></tr></tbody></table><p>The median starting salary for a liberal arts major is just under $38,000. And the mid-career average is just over $63,000 &mdash; so is a liberal arts education worth it? President Schapiro and Professor Vedder help provide a cost-benefit analysis on <em>Afternoon Shift</em>.</p><p>So what do you think: What&rsquo;s the value of a liberal arts education? Call <strong>(312) 923-9239</strong> or join the conversation on Twitter at #AfternoonShift.</p></p> Wed, 25 Jul 2012 13:47:00 -0500 http://www.wbez.org/blogs/bez/2012-07/whats-liberal-arts-degree-worth-nowadays-101179