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All Posts for The President's Blog

Is the Student Loan Crisis Really a Crisis?

June 17th, 2013 by dfarish

For the past 18 months, the media (and, subsequently, the politicians) have been focused on the rising tide of student debt. Two issues have attracted particular attention: first, the fact that total student debt has (a) exceeded $1 trillion, or, expressed alternatively, (b) exceeded the total of credit card debt; and second, the fact that some individuals have accumulated more than $100,000 in student debt.

News stories have become increasingly frantic. For example:

The Dreaded Out-of-State Fee

April 29th, 2013 by dfarish

I read an off-hand reference to a fact that all but knocked me out of my seat: tuition and fees at UCLA for out-of-state students total $35,570 for the current academic year. (Room and board is extra: another $14,232.)

I wondered how many students were paying such a huge sum. In addition to the 7 percent who are international students, only 5 percent of UCLA’s undergraduates are from out-of-state. Still, that’s more than 1,300 students – not an insignificant number. Moreover, at UC Berkeley, with a comparable out-of-state fee, 10 percent of students (about 2,500) are from out-of-state, in addition to the 9 percent who are international students.

How to Choose the ‘Right’ College

April 22nd, 2013 by dfarish

We are in the closing weeks of college choice decision time: most institutions have a May 1 date for students to “accept the acceptance.” After that date, some colleges and universities will have a full class for the fall of 2013 and will return deposits postmarked May 2 or later; at many others, the choice (or even the availability) of residence halls, as well as classes, may be severely restricted. So prospective students should be prepared to make their choice of campuses by May 1.

But for many students, cost is a factor that limits choice. In short, can the student (and his or her family) afford the campus that is the student’s first choice?

It is at this point that the expectations of the campus and the student are often at odds. Based on extensive survey data, most students and their families expect to pay substantially less than the institution’s sticker price – and that is often the expectation of the institution as well. But there are enormous differences between and among institutions as to their willingness (or ability) to offer financial support.

Where Should the Talented Poor Attend College?

April 1st, 2013 by dfarish

In his March 17 column (“Better Colleges Failing to Lure Talented Poor”), David Leonhardt of The New York Times wrote about a study that found that only 34 percent of high-achieving students in the bottom quartile of family income enrolled in one of the nation’s 238 most selective colleges, as compared to 78 percent of high-achieving students in the top quartile of family income.

One conclusion is that elite schools, for all their rhetoric, are failing to recruit an economically diverse entering class of students.

The Debt Problem – Part I

March 11th, 2013 by dfarish

In his column in The New York Times on March 9, Charles M. Blow states: “We are reaching a crisis point in this country’s higher education system” because of “staggering levels of debt.” He notes that student loan debt has more than doubled in the last eight years, to almost $1 trillion, and that, not unexpectedly, student loan debt is hardest on families in the bottom quintile of family income. Mr. Blow ends his column with, “We are on an unsustainable track. This will not end well.”

How is it that this problem has become so large so quickly? How do we fix it? Is this as big a problem as people claim?

I’m glad you asked. This is a problem that resulted from many intersecting forces: