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☆ More students are dropping out of college — here's why
▼ + stars: | 2024-04-03 | by ( Jessica Dickler | ) www.cnbc.com time to read: +1 min

Although college enrollment declines leveled off this year, the number of students who started but then withdrew has been on the rise, according to the National Student Clearinghouse Research Center. At the same time, roughly 26% of current undergraduates have seriously considered leaving college or are at risk of dismissal, according to a separate report by education lender Sallie Mae. "We need more support for early college planning, especially for first-generation students or those from underserved communities," said Rick Castellano, a spokesperson for Sallie Mae. Among students who are considering putting their education on hold, most said it was due to financial concerns. Others cite a loss of motivation or life change followed by mental health challenges, Sallie Mae found.

Persons: Sallie Mae, Rick Castellano Organizations: Student Clearinghouse Research

☆ Tuition now costs a whopping $90,000 a year or more at some US universities
▼ + stars: | 2024-04-01 | by ( Madeline Berg | ) www.businessinsider.com time to read: +4 min

Some American universities estimate their total cost of attendance will exceed $90,000 next year. Tuition and fees at universities have continued to climb, even when adjusted for inflation. The result may be a generation of students wondering if college is worth it. AdvertisementThe price of getting a degree has continued to climb at American universities, with the cost of some schools reaching a new threshold. Out-of-state and in-state tuition and fees at public universities have risen by about 38% and 56%, adjusted for inflation, over the same period.

Persons: —, Gen, Ana Hernández Kent, Louis Organizations: Service, New York University, Tufts, University of Pennsylvania, Yale, NYU, Board, U.S . News, for Higher, of Education, Universities, Institute for Higher Education, Institute for Economic Equity, Federal Reserve Bank of St Locations: U.S

☆ Dartmouth and Vanderbilt expand financial aid awards in an effort to eliminate student loans
▼ + stars: | 2024-04-01 | by ( Jessica Dickler | ) www.cnbc.com time to read: +1 min

Amid arguably the worst year to apply for financial aid, some colleges are implementing new strategies to entice students wary of the high cost. Vanderbilt University announced it is expanding Opportunity Vanderbilt to include full-tuition scholarships to students of families with an annual income of $150,000 or less. Meanwhile, Dartmouth also said it is nearly doubling its current income threshold for a "zero parent contribution" for parents with an annual income of $125,000, up from $65,000. "As costs continue to escalate we think it's so important there is access," said Doug Christiansen, Vanderbilt's dean of admissions and financial aid. "I am concerned on a national level that we will have a portion that think they can't afford it," he said.

Persons: Dartmouth, Doug Christiansen, Christiansen Organizations: Vanderbilt University, Vanderbilt, Finance, Harvard, Federal Student Aid

☆ A degree now costs more than $90,000 a year at some US universities, showing how wildly expensive education is getting
▼ + stars: | 2024-03-30 | by ( Madeline Berg | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewThe price of getting a degree has continued to climb at American universities, with the cost of some schools reaching a new threshold. This story is available exclusively to Business Insider subscribers. Out-of-state and in-state tuition and fees at public universities have risen about 38% and 56%, respectively, inflation-adjusted over the same period. In a Business Insider and YouGov survey conducted last year, 46% of Gen Z respondents said they don't think college is worth the cost.

Persons: —, Gen, Ana Hernández Kent, Louis Organizations: Service, New York University, Tufts, University of Pennsylvania, Yale, Business, NYU, Board, U.S News, of Higher, of Education, Universities, Institute of Higher, Institute for Economic Equity, Federal Reserve Bank of St

☆ Why School Absences Have ‘Exploded’ Almost Everywhere
▼ + stars: | 2024-03-29 | by ( Sarah Mervosh | Francesca Paris | ) www.nytimes.com time to read: +14 min

Increase in chronic absenteeism, 2019–23 By local child poverty rates By length of school closures By school district size By district racial makeup Source: Upshot analysis of data from Nat Malkus, American Enterprise Institute. Sara Miller, a counselor at South Anchorage High School for 20 years, now sees more absences from students across the socioeconomic spectrum. But after a visit from her school district, and starting therapy herself, she has settled into a new routine. Nationally, about 26 percent of students were considered chronically absent last school year, up from 15 percent before the pandemic. Kaylee Greenlee for The New York TimesThe Ypsilanti school district has tried a bit of everything, said the superintendent, Alena Zachery-Ross.

Persons: Nat Malkus, ”, Kaylee Greenlee, Katie Rosanbalm, —, can’t, Adam Clark, Sara Miller, Miller, Ash Adams, Tracey Carson, Ashley Cooper, she’s, ’ ”, Cooper, Rosanbalm, Duke, Quintin Shepherd, The New York Times Quintin Shepherd, Shepherd, Michael A, Gottfried, “, Nicholas Bloom, Lakisha Young, Charlene M, Russell, Tucker, Regina Murff, Sylvia Jarrus, Ann Arbor, Murff, Alena Zachery, Zachery Organizations: D.C, American Enterprise Institute, New York Times, The New York, Center of Child, Duke University, The New York Times, Missing, South Anchorage High School, University of Pennsylvania Graduate School of Education, Companies, Stanford University, Oakland Locations: Anchorage, Michigan, Washington, Victoria , Texas, Mt, Northern California, Hawaii, Mason , Ohio, Cincinnati, San Marcos , Texas, California, Connecticut, Ypsilanti, Mich, Ann, Ross

☆ Thousands of student-loan borrowers got their debt wiped through a new repayment reform. 11 GOP states just filed a lawsuit to block that relief.
▼ + stars: | 2024-03-29 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Eleven GOP state attorneys general filed a lawsuit to block the SAVE income-driven repayment plan. They argued that the shortened timeline for debt relief through the plan is unconstitutional. An Education Department official said Congress allows the authority to set terms for income-driven repayment. While the lawsuit makes several comparisons to the debt relief plan the Supreme Court struck down, the legal basis for the two plans differ. The Education Department is currently undergoing the negotiated rulemaking process for its second attempt at a broader form of debt relief.

Persons: —, Joe Biden's, Kris Kobach —, Miguel Cardona, Biden's, Biden, Kobach, Harris Organizations: GOP, An Education Department, Service, Biden, Education, Republican, Education Department, Business, US Department of Education, Harris Administration, Higher Locations: Kansas

☆ Harvard applications dip — but don’t plunge — following historic turmoil
▼ + stars: | 2024-03-28 | by ( Matt Egan | Ramishah Maruf | ) edition.cnn.com time to read: +4 min

The application figures are also the first look at Ivy League school admissions after the Supreme Court gutted affirmative action, although the data does not include demographic breakdowns. Harvard said Thursday it received 54,008 applicants for the class of 2028, down 5% from the year before. This marks the fewest applicants to Harvard since the class of 2024’s enrollment period during the Covid-19 pandemic. Harvard said it accepted 1,937 students for the class of 2028, translating to an admissions rate of 3.58%. The all-time low admissions rate was set just two years ago at 3.19%.

Persons: Claudine Gay, Liz Magill, Logan Powell, Virginia Foxx Organizations: New, New York CNN, Harvard University, Ivy League, Harvard, University of Pennsylvania, Columbia University, Cornell University, Brown University, US, University of North, House Education, Workforce Committee Locations: New York, Israel, Columbia, University of North Carolina

☆ Opinion | Who Would Want to Go to a College Like This?
▼ + stars: | 2024-03-28 | by ( Tressie Mcmillan Cottom | ) www.nytimes.com time to read: +3 min

The bill is similar to Florida’s ban on diversity, equity and inclusion initiatives in public colleges, which was signed into law last May. This political theater lifts up a caricature of college, one on which coddled minds are seduced into liberal ideas. If states become hostile to students’ values, those students could choose to go elsewhere or to forgo college altogether. Part of a larger survey about students’ experiences of higher education, the report left me with one major takeaway: The national debate about so-called woke campuses does not reflect what most college students care about. They underscore how unhinged our national debate over higher education has become and how misaligned Republican-led public higher education systems are with the bulk of college students.

Persons: “, haven’t Organizations: Higher Education, Republican, Bills, Public, Lumina Foundation, Gallup Locations: Florida, Alabama

☆ Millions of older adults with student debt are at risk of losing some Social Security benefits, lawmakers warn
▼ + stars: | 2024-03-25 | by ( Annie Nova | ) www.cnbc.com time to read: +2 min

Millions of older adults who are behind on their student loans could soon receive a smaller Social Security benefit. "When borrowers are in collections, on average their Social Security benefits are estimated to be reduced by $2,500 annually," the lawmakers wrote on March 19. "This can be a devastating blow to those who rely on Social Security as their primary source of income." Social Security recipients can see up to 15% of their benefit reduced to pay back their defaulted student debt, which "can push beneficiaries closer to — or even into — poverty," the lawmakers wrote. The government's collection practices with student loan borrowers, including the garnishment of wages and Social Security benefits, is an area under review, a source familiar with its plans told CNBC.

Persons: Sen, Elizabeth Warren, Ron Wyden, Biden Organizations: Security, Democratic, Social Security, Social, U.S . Department of Education, Finance, Harvard, CNBC

☆ There's a key deadline in April for borrowers hoping to get student loan forgiveness
▼ + stars: | 2024-03-24 | by ( Annie Nova | ) www.cnbc.com time to read: +3 min

Maria Korneeva | Moment | Getty ImagesThe Biden administration has set a key deadline for student loan borrowers hoping to get forgiveness. "The opportunity to consolidate loans will help many more borrowers to qualify for student loan forgiveness," said higher education expert Mark Kantrowitz. In normal times, consolidating your student loans can be a terrible move for those hoping to get rid of their debt as your forgiveness timeline is restarted. What to know about consolidating your student loansAll federal student loans are eligible for consolidation, including Federal Family Education Loans, Parent Plus loans and Perkins Loans, Kantrowitz said. Consolidating your loans shouldn't increase your monthly payment, since your bill under an income-driven repayment plan is based on your earnings and not your total debt, Kantrowitz said.

Persons: Maria Korneeva, Biden, Mark Kantrowitz, Kantrowitz Organizations: U.S . Department of, Finance, Harvard, Federal Family, Parent, Perkins Loans

New rankings of business, education, engineering, law, medical and nursing programs will be unveiled on April 9 as part of the 2024 edition of Best Graduate Schools. Finally, U.S. News will again update its annual rankings of graduate programs in public affairs, public health schools and programs, and computer science. That last ranking, referred to as the Most Diverse Medical Schools, takes into account Black, Hispanic, Native American and Native Hawaiian/Pacific Islander enrollment. Prospective students seeking such information, along with the full rankings, should access the subscription-based U.S. News Graduate School Compass. The full law school rankings and data will be free to all users.

Persons: Robert Graham Organizations: Graduate Schools, U.S . News, News, . News, Robert, Robert Graham Center, American Academy of Family Physicians, Medical, News Graduate School Compass Locations: U.S, audiology

☆ 2 Schools Clash as One Shrinks and the Other Gains Migrant Students
▼ + stars: | 2024-03-18 | by ( Troy Closson | ) www.nytimes.com time to read: +1 min

A bitter clash over space has emerged in recent weeks at a beloved New York City school building on Manhattan’s Upper West Side that two programs have shared for the past decade. One of the building’s occupants, Public School 145, has added more than 120 new students as a result of an influx of newcomers. The conflict highlights broader fault lines in New York and other large U.S. cities. The country’s public schools have lost more than 1.2 million students since the pandemic began and are facing major budget declines as a result. By 2031, enrollment could plunge by another 2.5 million nationwide, in large part because of declining birthrates.

Organizations: New York, Public, of Education, West Prep Academy Locations: New York City, New York, U.S

☆ Opinion | Working in Old Age Can’t Be the Only Answer to the Retirement Crisis
▼ + stars: | 2024-03-15 | by ( Peter Coy | ) www.nytimes.com time to read: +1 min

“Is this what America’s retirement system has come to?” she asks. “Are we heading for a TikTok pension system?”Ghilarducci argues that working longer is not the solution to America’s retirement crisis, in which millions of people don’t have enough money for a comfortable old age. The most important fix, she says, is to shore up Social Security and complement it with a new automatic-enrollment pension plan for workers who lack access to an employer-sponsored retirement plan. I’ve been arguing that working longer kind of is the solution for the retirement crisis, or at least part of the solution. “Yes, Granny deserves a good job if she wants one,” she writes, “but working until you drop is not a civilized plan for a civilized society.”

Persons: Teresa Ghilarducci, —, Ghilarducci, I’ve, I’m, Granny, ” Organizations: Walmart, Social Security, New School for Social Research Locations: New, New York

But some smaller, more specialized tax credits and deductions could score you hundreds (or even thousands) of extra dollars back as well. Here's an overview of some overlooked federal and state tax credits that filers often miss. At first glance, this might seem counterintuitive — why wouldn't you deduct state income tax, which is usually a larger sum? AdvertisementEven if your state has an income tax, you may still come ahead by itemizing sales tax instead, depending on your tax profile. The IRS provides tables and tools to calculate if claiming sales tax delivers more savings than claiming income tax.

Persons: You've, filers, it's, you've, doesn't Organizations: IRS, Care Locations: California, Texas, Florida, Nevada

☆ Read the Class Action Complaint Against G.M. and LexisNexis Risk Solutions
▼ + stars: | 2024-03-14 | by ( ) www.nytimes.com time to read: +2 min

On March 11, 2024, the New York Times reported an investigative piece about this exact issue.² The article highlights individuals who have had their insurance rates increase due to Lexis publishing, among others, General Motors car drivers' data. For one consumer "[i]t felt like a betrayal" because GM took "information that [he] didn't realize was going to be shared[.]" In recent years, automakers, including G.M., Honda, Kia and Hyundaí, have started offering optional features in their connected-car apps that rate people's driving. Some drivers may not realize that, if they turn on these features, the car companies then give information about how they drive to data brokers like LexisNexis... Especially troubling is that some drivers with vehicles made by G.M.

Persons: G.M, Last Organizations: New York Times, Lexis, General Motors, Honda, Kia, LexisNexis, Chevrolet, Smart

☆ College is still worth it, research finds — although these majors have the lowest rate of return
▼ + stars: | 2024-03-14 | by ( Jessica Dickler | ) www.cnbc.com time to read: +3 min

A recent study published in the American Educational Research Journal found that engineering and computer science majors provide the highest returns in lifetime earnings, followed by business, health and math and science majors. Education and humanities and arts majors had the lowest returns of the 10 fields of study considered. "However, there are significant differences across college majors." Overall, the researchers found that the benefits of higher education have held up, even as enrollment has declined and the labor market outcomes for those without a college degree have improved, Zhang said. For workers with a bachelor's degree, education was the lowest-earning field of study, followed by psychology and social work and the arts.

Persons: Liang Zhang, Zhang Organizations: Georgetown University Center, Education, Workforce, Federal Reserve Bank of New, American Educational Research, NYU Steinhardt School of Culture , Education, Human Development, Finance, Ivy League, Georgetown Center, Center Locations: Federal Reserve Bank of New York

☆ How Biden hopes to recapture voters scarred by inflation
▼ + stars: | 2024-03-12 | by ( Ron Brownstein | Analysis Ronald Brownstein | ) edition.cnn.com time to read: +14 min

A majority of Hispanics, and even a plurality of Black voters, said Biden’s policies would cause inflation to rise, the survey found. You can’t not make the contrast and comparison.”These negative retrospective assessments of the Biden and Trump economic records create huge headwinds for the president. “Voters—even past Biden voters who disapprove of his economic record—clearly reject what Trump and Republicans are offering,” Democratic pollster Margie Omero said in an email. After voters were exposed to Biden’s populist arguments, assessments of his economic record improved in the group’s polling, Clark said. But even after hearing that case, most voters in the group’s surveys still gave Biden negative marks for his economic performance, the study found.

Persons: Joe Biden, Donald Trump, Trump, Biden, Biden –, “, ”, Danielle Deiseroth, West Virginia Sen, Joe Manchin, Shawn Fain, Evelyn Hockstein, Adam Green, Michael Tyler, Republican pollster Micah Roberts, It’s, Jim McLaughlin, ” McLaughlin, Roberts, ” Roberts, can’t, ” Tyler, Margie Omero, ’, Bobby Clark, Clark Organizations: CNN, GOP, Trump, Teamsters, Democratic, ACA, West, United Auto Workers, Biden, CNBC, Social Security, Republican, White, NBC News, New York Times, Siena College, CBS, Union, “ Locations: Wisconsin, Michigan, Belleville , Michigan, Scranton , Pennsylvania, Democratic, State, Biden’s

SEOUL, South Korea (AP) — South Korea's government criticized senior doctors at a major hospital for threatening to resign in support of the weekslong walkouts by thousands of medical interns and residents that have disrupted hospital operations. But in some major hospitals like the Seoul National University Hospital, they account for about 30%-40% of the total doctors, assisting senior doctors during surgeries and dealing with inpatients while training. Their walkouts have subsequently caused numerous canceled surgeries and other treatments at their hospitals and burdened South Korea’s medical service. But doctors say newly recruited students would also try to work in the capital region and in high-paying fields like plastic surgery and dermatology. Critics say doctors — one of the best-paid professions in South Korea — are only worrying about the possibility of a lower income in the future.

Persons: JaeSeung, Park, Cho KyooHong Organizations: Seoul National University Hospital, Health Locations: SEOUL, South Korea, South

☆ Your car might be secretly recording every drive you take — and sending it to your insurance company
▼ + stars: | 2024-03-11 | by ( Nora Naughton | ) www.businessinsider.com time to read: +2 min

Read previewYour driving habits aren't as private as you think they are, according to a recent report from The New York Times. Internet-connected vehicles can gather data on driving habits, including hard braking and rapid accelerations, and share that information with data broker LexisNexis, which works with insurance companies to create personalized coverage. AdvertisementGeneral Motors's OnStar Smart Driver service is a focus of the Times report. Some drivers who were enrolled in Smart Driver told the Times that their insurance costs went up. If you own a GM car (Chevrolet, Cadillac, Buick, or GMC) with OnStar services, you can check on whether you're enrolled in Smart Driver in your car's app — MyChevrolet, MyBuick, etc.

Persons: —, Motors's OnStar Organizations: Service, The New York Times, LexisNexis, Business, Chevrolet Bolt, The Times, Smart Driver, Times, GM, Smart, Chevrolet, Cadillac, Buick, GMC Locations: OnStar

☆ Options traders are heavily trading this health stock ahead of a big conference this week
▼ + stars: | 2024-03-11 | by ( Michael Khouw | ) www.cnbc.com time to read: +5 min

We'll look at a health insurer stock with an interesting set-up heading into a big industry conference this week and break down various options trades being applied on it. Centene (CNC) traded nearly 9 times the average daily call volume on Friday ahead of Barclays 26th annual Global Healthcare Conference this week. Most active were the March 22nd weekly $82 calls and the March 28th weekly $82 calls. The mid price on the March 28th weekly $82 calls was nearly $2, substantially higher than the trader who initiated the block paid, and the weekly March 22nd calls would collect less than a quarter. If one owns the stock, a hedge might make sense, such as a weekly at-the-money put spread as illustrated below.

Persons: Bernstein, Centene, Cowen, what's Organizations: Barclays, Global Healthcare, Traders Locations: Texas, Florida, Georgia

☆ What dream job? Gen Z and millennials are being forced to confront a difficult job market.
▼ + stars: | 2024-03-09 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +7 min

The unemployment rate rose to 3.9% last month, the highest level in two years. AdvertisementGen Z and millennials entering the job market or in the early stages of their careers are facing a much tougher job market than in recent years, and many are adjusting their expectations for a dream career as the hiring landscape worsens. Despair about the ailing job market looks most acute among recent graduates, or students quickly approaching their graduation dates. AdvertisementOnly 44% of workers under 30 said they were "very satisfied" with their job, according to a 2023 Pew Research study. The job market boomed during the pandemic, with the unemployment rate going from 6.4% at the beginning of 2021 to 3.5% at the end of 2022.

Persons: Z, —, Gen Zers, Harry Holzer, Natasha Bernfeld, Bernfeld, Larry Jackson, he's, they've, Jackson, Emily Bianchi, Bianchi, it's, Georgetown's Holzer, It's, Dua Organizations: Service, Federal Reserve, Challenger, McKinsey & Company, Labor Department, UC Berkeley's, Pew, Emory University Locations: Georgetown, New York, Dua

☆ We Tried to Create a Diverse College Class Without Affirmative Action
▼ + stars: | 2024-03-09 | by ( Aatish Bhatia | Emily Badger | ) www.nytimes.com time to read: +22 min

If selective colleges admitted students by score alone — using, say, a 1300 cutoff — the pool would not be very diverse, by race or class. If selective colleges admitted students by score alone — using, say, a 1300 cutoff — the pool would not be very diverse, by race or class. To create a more diverse class, colleges could … But admissions preferences based on race are no longer legal. We Tried to Create a Diverse College Class Without Affirmative Action Now you can try it, too. In our affirmative action model, just 6 percent of admitted students come from the bottom quartile of the income distribution.

Persons: …, Sean Reardon, Demetra, NaN %, NaN, It’s, “, ”, Richard Kahlenberg, we’re, didn’t, “ We’re, Zack Mabel, we’ve, —, it’s, Richard Sander, Jill Orcutt, Johns Hopkins, they’ll Organizations: Stanford, Penn, Here’s, Colleges, Progressive Policy Institute, White Asian, American Association of Collegiate, University of California Locations: America, Here’s, Alaska, Georgetown, U.C . Merced

☆ Fijoya is bringing AI to employer-sponsored healthcare benefits. Here's the pitch deck it used to raise $8.3 million.
▼ + stars: | 2024-03-07 | by ( Samantha Stokes | ) www.businessinsider.com time to read: +3 min

Digital health benefits startup Fijoya just came out of stealth and announced an $8.3 million seed round from Team8, the Israeli venture group that creates startups and invests in existing ones across the cyber, data infrastructure, fintech, digital health, and AI industries. As Americans are spending more than ever on healthcare, Fijoya is one of many healthtech startups cropping up to tackle the financial aspects of healthcare. Now, out of stealth, Fijoya is focusing on giving employees an easier way to choose healthcare benefits that best suit their lifestyles. "This end-to-end approach signifies our commitment to simplify health benefits by offering a wide range of options with a seamless discovery, selection, and payment process.'" Check out the 15-slide pitch deck Fijoya used to raise its seed funding round.

Persons: Team8, Baruch Levy, Levy Organizations: Business, Health, Lightspeed Venture Partners, Norwest Venture Partners Locations: Team8, Israel

SEOUL, South Korea (AP) — South Korea's president vowed Wednesday not to tolerate the prolonged walkouts by thousands of junior doctors, calling them “an illegal collective action” that threatens public health and shakes the country’s governing systems. Their walkouts have subsequently caused hundreds of canceled surgeries and other treatments at their hospitals and burdened South Korea's medical service. But if senior doctors joined the walkouts, South Korea's medical service would suffer a major blow. The Korean Medical Association, which represents doctors in South Korea, has expressed its support for the striking junior doctors, but hasn't decided whether to take part in the walkouts. Police were investigating allegations that five senior KMA officials incited and abetted the junior doctors' walkouts, and said they summoned one of them Wednesday.

Persons: Yoon Suk, ” Yoon, ”, haven’t, Heath, hasn't Organizations: Health Ministry, Health, South, Korean Medical Association, . Police Locations: SEOUL, South Korea

☆ Opinion | How to Fix the Crisis of Trust in Higher Education
▼ + stars: | 2024-03-06 | by ( Jessica Grose | ) www.nytimes.com time to read: +2 min

Since the beginning of the year, I’ve been keeping track of every report I see about major budget shortfalls at universities. Here’s a sampling:“SUNY Warns of Future $1B Deficit Without Higher Tuition or More Aid” — The Times Union, Jan. 2. “Penn State Plans Nearly $100M in Cuts for FY26 Budget” — Higher Ed Dive, Jan. 24. “As U. of Arizona Confronts Budget Cuts, Workers and Students Brace for the Worst” — The New York Times, Feb. 21. The other is the decline in Americans’ confidence in higher education.

Persons: I’ve, Brace, Sharon Otterman, Josh Moody, Ed Organizations: The Times Union, UConn, Connecticut, “ Penn, Workers, New York Times, Gallup Locations: Arizona, New York

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