Category: Urban Ed Written by Michigan Chronicle Staff
From $20,000 to $65,000 a year – that’s the tuition cost for one year of college, says John McDonough, a money expert who helps retirees and parents plan for their families’ futures.
“For the 2012–2013 academic year, the average cost for an in-state public college is $22,261. A moderate budget for a private college averaged $43,289,” says McDonough, CEO of Studemont Group College Funding Solutions, www.studemontgroup.com. “But for elite schools, we’re talking about three times the cost of your local state school. Either way, your kid’s higher education can easily shoot into six figures after four years.”
Along with worrying about rising tuition prices, parents also fear for their own futures if their retirement savings are drained by children’s college costs, McDonough says. Only 14 percent, for example, are very confident they’ll have the money to live comfortably in retirement, he says, citing a 2012 survey by the Employee Benefit Research Institute.
“Families feel they’re faced with conflicting goals, but there are numerous ways to pay for college while investing in your future retirement,” says McDonough, who offers insights for parents to keep in mind while planning for their child’s education:
• The ROI of a college education: At a time when so many American families are financially strapped, college is an especially stressful topic because parents know higher learning will help their kids succeed. College graduates earn 84 percent than those with only a high school diploma, according to Georgetown’s Center on Education and the Workforce. Here is how earning breaks down over one’s life time, based on education: a doctoral degree-holder will earn $3.3 million over a lifetime; $2.3 million is estimated for a college graduate; those with only a high school diploma can expect $1.3 million.
• Move retirement assets to qualify for grants: Most parents know about the 529 savings account, but that’s not necessarily the best or only option. Reallocating your retirement assets, such as 401(k)s, can better position a child to qualify for grants and scholarships. This legal and ethical maneuvering may be the single most important factor when considering how to pay for college.
• Know your student’s strengths and weaknesses: Consider independent and objective analysis of your future college student. Assessment might include a personality profile and a detailed search for a future career. Also think about a more nuts-and-bolts approach, including scholarship eligibility, SAT and ACT prep courses, review of admissions essays and an in-depth analysis of chances for enrollment in a student’s top four choices of colleges.
• Make a checklist of financial aid forms: In order to maximize a fair price of higher education, remember there is plenty of data to review. McDonough recommends a checklist with a timeline and notable deadlines. Be ready to troubleshoot the “alphabet soup” of data forms: FAFSA – Free Application For Federal Student Aid; CSS profile – College Scholarship Service; SAR – Student Aid Report; and more. Think about this process as a second job, or find professional help you can trust.
Last Updated on Thursday, 13 June 2013 11:07
Category: Urban Ed Written by Cathy Nedd
Wayne State University’s Board of Governors voted unanimously today to elect M. Roy Wilson, M.D., M.S., as the University’s 12th President, effective August 1, 2013. Debbie Dingell, chair of the Board of Governors, made the announcement.
Wilson will succeed Allan Gilmour, who has agreed to serve as president until Wilson takes office. Gilmour joined the university as interim president in August 2010 and was elected president by the Board in January 2011.
“We looked at a number of outstanding candidates from around the nation,” said Dingell. “The board concluded that Roy’s extensive leadership experience—particularly in academia and medicine — will be crucial as both the state of Michigan and Wayne State grapple with changes in higher education and health care. His understanding and appreciation of the importance of a major research university is yet another reason Roy the right person at the right time for Wayne State. We are delighted that he has joined this great university.”
Wilson’s appointment follows an extensive search that began in the late fall of 2012. “The Presidential Search Committee conducted a national search that produced excellent candidates in higher education, government and the corporate world. There was a lot of interest in Wayne State University,” said Gary Pollard, vice chair of the Board of Governors and chair of the Presidential Search Committee.
Dr. Wilson currently serves as deputy director for strategic scientific planning and program coordination at the National Institute on Minority Health and Health Disparities of the National Institutes of Health (NIH).
As deputy director, Dr. Wilson oversees the development and implementation of an integrated system for planning, coordinating and evaluating the NIH health disparities research portfolio, in collaboration with the NIH institutes and centers. He also co-chairs the recently announced NIH Common Fund programs: the Building Infrastructure Leading to Diversity Initiative and the National Research Mentoring Network.
Previously, Dr. Wilson served as dean of the School of Medicine and vice president for health sciences at Creighton University, president of the Texas Tech University Health Sciences Center, and, concurrently, chancellor of the University of Colorado Denver and chair of the Board of Directors of University of Colorado Hospital.
Dr. Wilson’s research has focused on glaucoma and blindness in populations from the Caribbean to West Africa. He holds elected memberships in the Institute of Medicine of the National Academy of Sciences, the International Glaucoma Research Society and the American Ophthalmological Society.
Dr. Wilson received his undergraduate degree from Allegheny College, an M.D. from Harvard Medical School, and an M.S. in epidemiology from the University of California, Los Angeles. He was selected for the list of Best Doctors in America for 14 consecutive years by Best Doctors Inc. and was a finalist for the Los Angeles Business Journal's Healthcare CEO of the Year in 2011. His additional honors include the American Academy of Ophthalmology's Senior Achievement Award, the Distinguished Physician Award from the Minority Health Institute, the Herbert W. Nickens Award from the Association of American Medical Colleges, and the NIH Director’s Award.
“I am grateful the board has asked me to serve as President, and I am honored to accept this great responsibility,” said Wilson. “Higher education is evolving rapidly, with many changes and challenges, both now and into the future. Wayne State University has a history of excellence and opportunity, and we must lead the way. I see my job as bringing us all together to build upon a rich legacy, and to position us for a successful future for the sake of our students, faculty, staff and friends, and the community and State we serve.”
Last Updated on Wednesday, 05 June 2013 20:38
Category: Urban Ed Written by Amber L. Bogins
The Shawn Carter Scholarship Fund (SCSF) provides individual grants ranging from $1,500 to $2,500 to every student who qualifies and reapplies yearly, from admission to graduation.
The grant can be used to cover tuition expenses and related supplemental educational expenses such as books, lab fees, travel and select costs of living. All Shawn Carter Scholars are required to "give back" by conducting community service and by serving as mentors to younger, aspiring Shawn Carter Scholars.
The Foundation was established by her and her son Shawn Carter after her retirement. The Foundation was essentially formed because Ms. Carter wanted to create “something that would enhance the future of our young people.” The Shawn Carter Scholarship Foundation is unique in that it offers scholarships to single mothers, children who attend alternative schools, students who have earned a GED, students with grade point averages of 2.0 and students who have previously been incarcerated, etc. but desire a higher educational opportunity. This group is generally not the recipients of college scholarships and is typically ignored by the Board of Education. The Shawn Carter Foundation offers scholarship opportunities to any under-served student across the United States who desires a higher education. One of the key questions asked by the Foundation when students apply for a scholarship is: What are your plans to give back to the community?”.
All high school seniors, undergraduate college students, and students at vocational or trade schools are eligible to apply. All applicants must be US citizens, 25 years old or younger, and have a minimum GPA of 2.0.
For more details and/or to apply, visit:
Last Updated on Tuesday, 21 May 2013 14:01
Category: Urban Ed Written by Roz Edward, National Content Director
Approximately 37 million Americans have outstanding student loan debt. Many female students have turned to the Sugar Baby lifestyle to help fund their education. A recent growth showed that 15 percent more college students are graduated in 2012 debt free using Sugar Daddies. SeekingArrangement.com to release its 2012 list of Sugar Baby Alma Maters
According to SeekingArrangement.com's annual list of Sugar Baby Alma Maters, more Sugar Babies have graduated from New York University than any other college. 44 percent of the website's total population is comprised of college students, many of whom use their monthly allowances from Sugar Daddies to offset the cost of their education.
"College students are attracted to this lifestyle because it's honest, open, and ultimately beneficial," says Brandon Wade, Founder and CEO of SeekingArrangement.com. "Granted, the terms of any mutually beneficial arrangement are uniquely catered. But all enable Sugar Babies to pursue their goals through the generosity of the benefactor."
Approximately 37 million Americans have outstanding student loan debt. In 2011, approximately 52 percent of college Sugar Babies graduated debt free because of their mutually beneficial arrangements, but in 2012 that number jumped by 15 percent.
The following are the schools with the most female college students graduating thanks to Sugar Daddies, as well as the growth from the previous year.
Top Sugar Baby Alma Maters of 2012 - % growth in students graduating using Sugar Daddies
1. New York University – 201%
2. Temple University – 207%
3. Georgia State University –-297%
4. Kent State University (Ohio) –-197%
5. Arizona State University—252%
6. University of Georgia –-163%
7. University of Houston –-188%
8. Florida State University –-240%
9. University of Wisconsin, Milwaukee—154%
10. University of South Florida—148%
11. Michigan State University –-243%
12. Alabama University—260%
13. Tulane University—252%
14. Penn State University—158%
15. Ohio University---173%
"While financial security is an important factor in any arrangement, there are other benefits that add just as much value to a Sugar Baby's life," says Wade. "Women gain mentorship and networking opportunities through their Sugar Daddies. These benefactors have established themselves in society and know what it takes to succeed."
For more information on the Sugar Baby Alma Maters of 2012 or to schedule an interview with students and a representative of SeekingArrangement.com, please contact Angela Jacob Bermudo at press(at)SeekingArrangement.com or call (702)497-8808.
SeekingArrangement.com is the premier sugar daddy dating website, and has been featured on such outlets as the New York Times, CNN Headline News, Good Morning America, and ABC 20/20. Since launching in 2007, the website has amassed over 2 million members worldwide. SeekingArrangement.com was founded by self-proclaimed "E-Cupid", Brandon Wade who was anointed "Mr. Sugar Daddy" by the Wall Street Journal. Brandon Wade is a leading dating expert, author, and successful internet entrepreneur who also founded a number of successful niche dating websites.
Last Updated on Tuesday, 30 April 2013 10:58
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