Obama Administration

Obama Administration

College Dropouts Waste Billions of Taxpayer Dollars

moneyIf you’re thinking about dropping out of college, think about whose money you’re wasting. You could be wasting your own hard earned cash or your parents’, but I bet you never considered how dropping out of college wastes taxpayers’ money.

According to a study released on Monday, states have spent almost $6.2 billion on students who did not come back for their sophomore year. Additionally, states spent $1.4 billion, and the federal government spent $1.5 billion in grants for students who didn’t come back the following year.

The study, “Finishing the First Lap: The Cost of First-Year Student Attrition in America’s Four-Year Colleges and Universities” acquired data from four-year colleges and universities between 2003 and 2008. The dollar amounts for the study were based on government data and configured by the nonprofit American Institutes for Research. Read the rest of this entry »

Student Loan Default Rates on the Rise

loan applicationFeb. 11, 2011 is the day my first student loan payment is due and like most students, I’m dreading repayment. While some students can handle the monthly amount, others are struggling to find work and the income to pay off their debt. In a tough job market, it’s no surprise that the student loan default rate continues to increase.

Education secretary Arne Duncan released a statement last Monday saying that he isn’t happy with the continued rise of student loan default rates. He attributes a significant amount of default rates to for-profit colleges, like the University of Phoenix or National American University.

“While for-profit schools have profited and prospered thanks to federal dollars, some of their students have not,” Duncan said in a statement on Sept. 13. “Far too many for-profit schools are saddling students with debt they cannot afford in exchange for degrees and certificates they cannot use.”

Duncan said that as of the 2008 fiscal year, the most recent period for which data is applicable, the total student loan default rate was 7 percent. The fiscal year before that, it was 6.7 percent. And before that it was 5.2 percent. Read the rest of this entry »

Standardized Tests Finally to Receive Overhaul

new-standardized-testsIt appears that bubbles will be banished in the new system of standardized testing. Secretary of Education Arne Duncan announced yesterday that the new state standardized tests will be computer-based, to better evaluate students ability to synthesize information and conduct research projects. “The use of smarter technology in assessments,” Mr. Duncan explains, “makes it possible to assess students by asking them to design products of experiments, to manipulate parameters, run tests and record data.”

Read the rest of this entry »


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