College Endowments: Size Doesn’t Matter

The New York Times: “In the latest annual National Association of College and University Business Officers-Commonfund study of endowment performance, the smallest endowments— those under $25 million — edged out the biggest endowments, averaging a five-year annualized return of 10.6 percent to the $1 billion-plus category’s 10.4 percent.”

“Even more surprising, the top-performing endowments over 10 years among all schools reporting data weren’t giants like Harvard and Stanford or even Yale … the top-performing colleges are two Virginia universities whose financial resources amount to a negligible fraction of the typical Ivy League endowment.”

“Radford University, which ranked first, has an endowment of $55.5 million, and Southern Virginia University, which was second, has an endowment of just $1.1 million. (Taken together, that’s 0.15 percent of Harvard’s endowment, the largest in the country, which is $37.6 billion.)”

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If You Are Thinking About Transferring …

The Washington Post: “According to a special report from the National Association for College Admission Counseling, a third of students end up transferring to other colleges or universities. Some of these students are transferring from community colleges, but many are also moving from one four-year school to another. New data from the National Student Clearinghouse Research Center shows that 37.2 percent of college students transfer at least once within six years.”

A few tips for transfer applicants:

  • “Grades in college are the most important factor admissions counselors use to evaluate transfer applicants. According to Andrew Flagel, the senior vice president for students and enrollment at Brandeis University, ‘Grades a student receives in college are far more predictive of how they will do at other colleges than anything else they have done’.”
  • “Some schools will let you simply reactivate your application if it’s within a year or two of the original submission. You’ll have to include a final high school transcript, a college transcript, and one or two letters of recommendation.”
  • “Some schools have a lot of transfer students, which might make for an easier transition. Check out the U.S. News & World Report Education list of schools with the most transfer students. Another good resource … is the Common Data Set. If a school has a high freshman attrition rate, “you know there will be space in that sophomore class.”
  • “It’s important to try to determine how your credits will carry over and how they will be applied to your graduation. Many schools require a transfer student to commit before they will give out information about transfer credits.”
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    Which Colleges Are The Most Fun?

    To determine which schools have nailed the formula for fun, Business Insider looked at 12 categories from The Princeton Review’s 2016 college rankings, including lists like “Party Schools” and “Lots of Beer.” Since alcohol isn’t the only way to have fun, (the formula) also included schools that placed on lists like ‘Happiest Students’ and ‘Best Quality of Life’ … the typical ‘fun’ school is a large public university with a strong Greek system and competitive athletics. However, several smaller schools with close-knit communities earned spots on the list as well.

    The school that has the most fun? University of Illinois at Urbana-Champaign, followed by Tulane, and then University of Iowa. You can review the rest of the list here.

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    Raise.me: Introducing Microscholarships

    A startup website called Raise.me allows students to earn scholarship credits in exchange for taking certain courses and realizing other achievements, The New York Times reports. “The start-up’s approach is a mash-up of two popular economic concepts. One is ‘nudging,’ that is designing systems to influence the choices people make, ideally for their own good. The other is microfinance — incremental loans for entrepreneurs who would not otherwise have access to funding.”

    “Raise.me charges participating institutions annual fees of $4,000 to $20,000 based on a college’s size and scholarship program. Each college sets its own criteria. Penn State has made its Raise.me program available to students at five high schools in Philadelphia, as well as six rural Pennsylvania high schools. Those students may earn scholarships of up to $4,000 a year for four years. Among other awards, the university offers them $120 for each A grade in a core course, $400 for each advanced placement course, $100 for each year of perfect attendance, $100 for a leadership role in a sport or extracurricular activity and $5 for each hour of community service, up to $500.

    “The potential risk is that introducing monetary rewards could curb students’ intrinsic motivation to succeed in school, or their innate enjoyment of activities like reading, in favor of striving for scholarship dollars.” However, Raise.me co-founder Preston Silverman “said that the scholarship program did not displace students’ inner enthusiasm, but rather enhanced their motivation by showing them additional ways they could prepare for college.”

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    Why is the College Dropout Rate So High?

    The New York Times: “Sixty percent of people go to college these days … But more than a quarter of those who start college drop out with no credential.” The drop-out rate is especially high among first-generation students who “miss out on the advice, support and voice of experience provided by parents with firsthand experience of higher education. There is only so much information that overburdened guidance counselors can cram into students during a few short meetings.”

    “Researchers are uncovering promising interventions that help get these students to graduation … Benjamin L. Castleman of the University of Virginia and Lindsay C. Page of the University of Pittsburgh devised a program that nudges students to complete the administrative paperwork required to stay in college. They sent texts reminding students to complete their re-enrollment forms and financial aid applications. Among freshmen who received the texts, 68 percent completed their sophomore year, compared with 54 percent of those who did not receive reminders.”

    “A new program at the City University of New York offers many of the supports that college-educated parents typically provide: intensive advising, a subway pass, textbooks and money to cover any shortfall between costs and financial aid. The CUNY program doubled the three-year graduation rate and also increased the proportion of students who went on from a two-year community college to a four-year institution. The program is now being replicated at colleges in Ohio.”

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    Test Scores & The Time of Day

    Pacific Standard: “As it turns out, each hour that passes before starting a test drags scores down by a little bit, meaning students who take a test late in the day will perform noticeably worse.” A study by economists Hans Henrik Sievertsen, Francesca Gino, and Marco Piovesan “analyzed scores from every student who took the Danish National Tests between the 2009–10 and the 2012–13 school years … Tests were given in three parts, presented to each student in random order, and lasted throughout the day, with breaks around 10 a.m. and noon.”

    “Percentile rankings, which show where students rank on a 100-point scale, declined by about two-tenths of a point per hour on average, though how much scores dropped—and whether they dropped at all—changed throughout the day. Students who took a test at 9 a.m., for example, ranked 1.35 points lower than those who were tested on the same material at 8 a.m. Ranks increased 0.37 points after a 10 a.m. break, but dropped again by 0.58 points for tests taken at 11 a.m.”

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    Everybody Is Eligible For Financial Aid

    Christian Science Monitor: “If you’re not sure whether you’re eligible for financial aid to help pay for college, there’s an easy answer: Yes. You are. ‘Everybody is eligible, regardless of income,’ says Brad Yeckley, assistant manager of the Student Financial Education Center at Penn State University. What varies is the type of aid you’ll get and whether you’ll have to pay it back.”

    Some highlights:

    “To get federal, state and school financial aid — and even some private scholarships — you must fill out the Free Application for Federal Student Aid, known as the FAFSA … Some forms of financial aid are first-come, first-served, and schools and states often have their own deadlines. Apply for financial aid as soon as possible once the FAFSA opens on Jan. 1 of each year.”

    “Schools start by granting you need-based aid (if you qualify), meaning funds that are earmarked for students with financial need. Those can include need-based grants — from the government or the school — and need-based federal loans such as Perkins and direct subsidized loans. Direct loans, also known as Stafford loans, are the most common types of federal student loans. Subsidized loans are more favorable than their unsubsidized counterparts because they don’t accrue interest while you’re in school or for the six months following graduation.”

    “If you don’t receive enough need-based aid to cover your cost of attendance, or didn’t qualify for any at all, the school will then offer you federal direct unsubsidized loans or PLUS loans (available to parents and graduate students).These loans are less desirable than direct subsidized or Perkins loans because they accrue interest while you’re in school and during your grace period after you graduate. PLUS loans in particular carry high interest rates, and those made to parents are eligible for fewer repayment plans.”

    “A net price calculator will show you how much grant aid you’re likely to receive to attend a particular school. That amount could include federal Pell Grants as well as state and school grant funding. But net price calculators don’t always show you exactly how much of each you’ll receive. That’s why it’s helpful to get an estimate of your potential Pell Grant from the FAFSA4Caster. Most colleges include net price calculators on their websites, but the tools aren’t always easy to find. Search for a calculator using the U.S. Department of Education’s Net Price Calculator Center.”

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    High Schools Address The Stress of College Admissions

    The Wall Street Journal: “With growing evidence that students are suffering from the intense competition for college admission, schools around the country are rethinking everything from tests to classes to start times.” For example, superintendent David Aderhold of the West Windsor-Plainsboro Regional School District in central New Jersey “abolished midterms and final exams and instituted a no-homework policy during breaks and some weekends.”

    As Mr. Aderhold put it: “We’re not producing widgets. We’re producing citizens of the world.”

    “To deal with the problem of sleep deprivation, some schools have adopted later start times. In 2014, researchers at the University of Minnesota examined data collected from more than 9,000 students at eight high schools in Minnesota, Colorado and Wyoming that had made this shift. The study found that when schools started at 8:30 a.m. or later, teenagers reported lower rates of depression and substance use, fewer car crashes, less absenteeism and tardiness, and higher test scores.”

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    Survey: America’s Best Public Colleges

    Business Insider: “Niche, a company that researches and compiles information on schools, ranked the best public schools in the US … To determine its rankings, Niche considers factors like academic strength, campus quality, caliber of professors, and quality of student reviews for more than 1,500 schools across the country. Read on to see which school is repping your state.”

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    It’s All Downhill For Mid-Year Middlebury Grads

    Last Saturday, 113 Middelbury College seniors took part “in one of the most unusual processions in higher education: The 29th Annual Middlebury Ski-Down,” reports The Wall Street Journal. Taking a post-graduation ski run is a tradition reserved for the so-called “Febs” — or those Middlebury students who graduate in February because they entered the college mid-year. “While proficiency in snow sports isn’t a formal graduation requirement like the first-year writing-intensive seminar, the ski-down might as well be mandatory.”

    “At a formal ceremony in the morning, students walked across a stage, listened to speakers, shook hands with the college president and received a replica of the walking stick used by the school’s co-founder. But under their caps and gowns, some said they sweat through fleece and wool since there is little time to change before jumping on buses for the ski-down … Most are on skis or snowboards. A few walk. Many wear their caps and gowns, even accessorizing with bright feathered boas. Family and friends cheer from the bottom of the hill.”

    “They don’t make you go down if you don’t want to,” said Olivia Aborn, a 22-year-old history major from Hingham, Mass. “But I would hate to not be there. This is it.”

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