Posted on Fri, Apr 27, 2012 @ 09:26 AM
Craig Powell, ConnectEDU's Founder and CEO, was the keynote speaker for Mount Wachusett Community College Admitted Student Day.
Craig presented "The Key to Future Success: Connecting the Dots Between Education, Career & Financial Planning". According to recent reports, 85% of the class of 2010 moved back in with their parents with an average of $27,200 in student loan debt after graduation. The cost of education is increasing year over year and college graduate salaries are decreasing, if they are lucky to have a salary at all. There is a fundamental issue with how students are planning out their education, career and financial goals juxtaposed against these staggering statistics.
Craig is passionate about closing this information gap and ensuring students achieve a secure financial future, and ultimately connect to life's possibilities. He explained to the crowd of admitted students that the key to future success is connecting the dots between education, career and financial planning.
Make sure your education plan maps to an attainable career worthy of your investment.
Posted on Wed, Apr 25, 2012 @ 08:17 AM
The Bill & Melinda Gates Foundation recently donated $23 million to support a 5-year project called the Strategic Data Project.
The initiative is being coordinated by Harvard University and intends to release “Strategic Performance Indicators” designed to help administrators from K12 schools track graduates’ postsecondary success.
The initiative focuses on tracking college completion as opposed to just college acceptance rates. This change in success metrics is a promising benchmark in a much larger trend to fully understand the impact of college readiness programs. This effort reinforces the connection between K12 and postsecondary institutions, and the ability to improve one based on a learners experience at the other:
“Prior to No Child Left Behind, states weren't even collecting K12 education data at the student level," says Anne Hyslop, an analyst at nonpartisan think tank Education Sector. "Then higher education systems developed their own systems, and the two never talked to each other.”
ConnectEDU understands the power of not just connecting student data collected from K12 and postsecondary institutions, but also from employers as well. By analyzing information from the school-to-college-to-career continuum, we can begin to understand and predict the gaps in our capital development pipeline and start preparing students for the careers that will exist upon their graduation.
Get in touch with a ConnectEDU team member today to learn more.
Posted on Mon, Apr 23, 2012 @ 09:34 AM
Learning more about the cost of a postsecondary education and how you can afford it is a big part of Financial Literacy Month.
The ConnectEDU team has put together an infographic about the cost of going to college today and how everyone can afford to learn more about how to pay for it.
To view a bigger version, go to: Paying For College Infographic
Posted on Thu, Apr 19, 2012 @ 09:12 AM
Democratic Senators Kay Hagan of North Carolina and Tom Harkin of Iowa have proposed a bill that would prohibit institutions of higher education from spending any federal student aid money on marketing or advertising.
The core tenet of this proposition being that tax payer dollars should only be spent on the direct costs of education: such as instruction, career-placement services, and other initiatives that would improve students’ postsecondary experience and elevate their possibilities after graduation.
Currently, institutions are allowed to use federal student aid to recruit students, and according to the data, some allocate large percentages of these dollars to attract new students:
- Fifteen of the largest for-profit higher-education companies receive an average of 86 percent of their revenues from federal student-aid funds, and spent an average of 23 percent of their budgets on marketing.
Opponents of the bill argue that some institutions need to spend more money on marketing in order to reach the nontraditional talent they target, which they argue is harder to engage. Research shows that there is a significant divide between the marketing budgets of for-profit institutions when compared to those of nonprofit schools:
- While marketing budgets in the for-profit sector can approach 40 percent of revenues, nonprofit institutions spend an average of 0.5 percent of their revenues on marketing.
Today, for most postsecondary institutions, marketing and advertising drive applications and inevitably keep their doors open. ConnectEDU offers admissions and recruiting products that make attracting the right students and enrolling them easier and more efficient. Our products enable schools to spend more money on the direct costs of education by saving money spent on increasing the number of applicants and enrollment yield. Our eCRUIT product increases recruitment yield by discovering talent, executing marketing campaigns, tracking results, and making data-driven recommendations. EYOp increases Enrollment Yield by allowing accepted students to interact with the postsecondary institutions they are interested in, before choosing to enroll.
Talk to an expert today to learn more.
Posted on Tue, Apr 17, 2012 @ 04:29 PM
On April 16th 2012, 26,656 runners of all ages and backgrounds ran in the 116th Boston Marathon.
These athletes endured the 26.2 mile trip from Hopkinton to Copley Square in scorching heat, with highs almost reaching 90 degrees. Despite this fact, 95.6% of all the athletes running finished the race, but they didn't do it alone.
Athletes train for months to prepare themselves mentally and physically for the race - everything from diet, to organizing and maintaining running schedules, injury prevention or rehabilitation, travel, raising funding, and more. The discipline and commitment necessary to undertake such a feat parallels the devotion a student must exert to excel at their education, and inevitably their career.
Cullen Winkler | ConnectEDU
Apart from the tremendous dedication and perseverance on behalf of the runners, their efforts were bolstered by the thousands of volunteers and half a million fans who lined up to provide water, medical treatment, and vocal support. Similarly, students will depend on a variety of family members, mentors, and friends to help them navigate their education and career pathway: extra help such as tutoring, counseling, advising college and/or career placement, and simply providing motivation and encouragement, are all critical at various times along the journey.
Cullen Winkler | ConnectEDU
The importance of this support is illustrated by the health and wellness of the athletes Monday: an estimated 2,500 people were treated. Medical practitioners and public service officials collaboratively ensured that despite near-record setting heat there were no fatalities throughout the day. Having this safety net in place is critical to allowing athletes to push themselves to reach their full potential.
Technology was another crucial aspect of the race’s success and it was leveraged in a variety of ways. Computer chip timing devices inside participants’ bibs were used to track the athletes, providing real-time updates so spectators could locate family and friends. Real-time, accurate data is also at the center of ConnectEDU. More transparency enables students and those who support them to reach their full potential.
Last but not least, over $15 million dollars was raised for charity by John Hancock’s nonprofit bib program alone, and an estimated $137.5 million dollars was generated in the Greater Boston Area’s economy throughout the week of the race. Financial planning and awareness is critical for the event's and runners' success.
As a student or a professional financial planning is something you simply cannot afford to overlook.
Cullen Winkler | ConnectEDU
ConnectEDU is very proud to have registered participants in the 2012 Boston Marathon, and we would like to congratulate the stellar efforts of both Ted Fischer and Erik Peterson – great job team!
Posted on Wed, Apr 11, 2012 @ 09:44 AM
Early alert as a systematic approach to improving student success, retention and persistence has reached an apex of popularity—in theory.
Most institutions are aware that the term “early alert” generally refers to identifying at risk-students before they attrit. Yet many questions remain about exactly what constitutes early alert, its best practices and its practical application.
This paper aims to do the following:
1. Provide an overarching definition of early alert
2. Provide a brief review of the history and literature
3. Review best practices of early alert and intervention
To Download the full study go to:
Posted on Mon, Apr 09, 2012 @ 01:14 PM
On March 29th, Senators Dick Durbin (D-IL) and Tom Harkin (D-IA) introduced The Know Before You Owe Act of 2012.
This bill is focused on requiring institutions to actively participate in promoting financial literacy and protecting students from taking on unnecessary debt.
As Senator Durbin stated on his website:
Specifically, the Know Before You Owe Act of 2012 would require private lenders to:
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Certify with the borrower’s school that the student is enrolled and the amount the student is eligible to borrow before issuing a private loan;
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Provide the borrower with quarterly updates on their loans, including accrued but unpaid interest and capitalized interest; and
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Report information to the Consumer Financial Protection Bureau about their student loans.
The Durbin-Harkin bill would require institutions of higher education to:
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Inform students about their federal financial aid availability and eligibility; their ability to select a private lender of their choice; the impact of a private loan on their eligibility for other forms of financial aid; and their right to accept, reject or cancel a private loan as allowed under current law; and
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Inform students about the terms and conditions of federal and private student loans.
Posted on Fri, Apr 06, 2012 @ 11:02 AM
Vice President Joe Biden and Secretary of Education Arne Duncan visited Maury High School in Norfolk on Tuesday, April 3rd to address the mounting concerns around College Affordability.
The subject matter was driven by an increase in negative trends related to paying for college. To reflect, rising tuition prices impact our nation in a variety of ways, including:
1. Deterring bright learners from advancing their education: When high-scoring students from low-income families are compared to similarly high-scoring students from upper-income families, 80 percent of the those in the top quarter of the income distribution go on to get college degrees, compared to just 44 percent of those in the bottom quarter - The Reproduction of Privilege
2. Reinforcing class stratification: Seventy-four percent of those now attending colleges that are classified as “most competitive” (a group that includes schools like Harvard, Emory, Stanford and Notre Dame) come from families with earnings in the top income quartile, while only three percent come from families in the bottom quartile - The Reproduction of Privilege
3. Increasing student loan debt, limiting graduates potential, which impacts job selection, mobility and prohibits them from purchasing homes, investing in building a family, etc.
Secretary Duncan believes that our educational system’s shortcomings are intimately linked to our national economic woes, and that the United States must leverage all of the intellectual capital we have to improve the current status quo. When asked “What is the single most important thing the US can do to maintain its qualitative edge, over the rest of the world?” VP Joe Biden proclaimed:
“The answer is easy, have the best educated population in the world. This is about national security; this is about the national interest.”
ConnectEDU is focused on connecting the dots between education, career and financial planning to insure every student, whether they are low-income, high-income, or somewhere in between, has a chance at achieving their ultimate dream. A key part of that is strategically planning to pay for college.
Posted on Wed, Apr 04, 2012 @ 09:25 AM
Student loan debt has been at the forefront of the news for some time now, so you’ve probably already heard the staggering statistics...
But to summarize, here are some statistics to get you better acquainted with how the world views this debt:
- Outstanding student loan debt has exceeded the $1 trillion mark
- Students in 2010 graduated college with an average of $25,250 owed in student loans, up 5% from the previous year
- Since 1978, the price of tuition at US colleges has increased over 900%, 650 points above inflation
- 4-year colleges graduated an average of just 53% of entering students within 6 years
While the federal government offers families in need with grants and financial aid, the money is usually not enough to finance 4 years of college. This means most families will need to finance higher education with other options, like student loans. However, a commonly overlooked point in the student loan debt argument is that certain debt can be considered good debt, such as mortgage debt. Student loan debt, in my opinion, should be in the category of good debt, as long as the family taking on the debt is aware of what they’re buying with it.
The average student loan debt owed by a graduating college student ($25,250) is one of the most utilized statistics that attempts to paint the student debt crisis picture. Fortunately, this is not how it has to be for an average family. For example, is it too much to ask for a student to graduate college in 4 years (instead of 6, 8 or never)? While the senior year ‘victory lap’ can be fun for the student, it’s even more fun for institutions raking in the tuition associated with those extra semesters. Not only are students adding on another year’s worth of debt, they’re also adding an additional year of interest. This procrastination for college graduation simply contributes to the National problem.
One immediate, very simple solution for a family to lower student loan debt upon graduation is to complete a 4 year degree in 4 years.
I found a few more statistics that might be more relevant to the average family looking to send a student to college:
- The median balance of student loan debt is $12,800, roughly half the average level, which indicates that a small fraction of people have balances significantly higher than the median.
- A recent study by the National Center for Education Statistics shows that about 50% of recent college graduate have student loans, with an average student loan debt of $10,000.
- The average cost of a public 4-year school is around $13,000 versus $28,000 for private 4-year institutions.
It’s not all bad. I can’t recommend any one thing for any family, as each and every situation is different. But, I can say that families sending kids off to college who graduate in 4 years, attend an in-state public university, and finance that path, should find themselves in much different (probably better) financial situation upon graduation than the reported “averages” seen in the media today.
By Adam DeChristopher, ConnectEDU Financial Literacy Expert
Posted on Mon, Apr 02, 2012 @ 10:54 AM
For the past 8 years, America has recognized April as the month to promote financial literacy. In 2004, the U.S. Senate passed Resolution 316 with unanimous consent, awknowledging a unified cry against the damage a lack of financial literacy could cause America. Financial literacy is a very relavant and powerful topic when it comes to college and career planning. At ConnectEDU, providing a comprehesive solution for education, career, and financial planning drives our product innovation. Without accounting for all three (education, career and finance), securing a stable financial future is nearly impossible.
This month we'll be promoting National Financial Literacy Month on facebook & twitter.
Be sure to follow us to stay up-to-date on financial literacy tips and tricks, best practices, factoids, and other great information!
