Archive for the 'Finance' Category

A college degree can be affordable

Justin Pope, writing for the Associated Press, pulled no punches regarding the ongoing increase in college tuition for 2009-10. With costs rising anywhere from 4.4 percent at private schools to 7.3 at community colleges, Pope stipulated that colleges were handling the recent recession by simply passing “much of the burden of their own financial problems on to recession-battered students and parents.”

Those ever-increasing costs, consistently higher than the rates of inflation, have a number of folks questioning the value of a college degree, especially as students pile up exorbitant amounts of debt in their pursuit of a diploma. While we agree that absorbing significant debt while earning a diploma is a bad idea, we do still believe there is great value in obtaining your degree.

One only need examine the recent numbers from the economic downturn to find the necessary support for our assertion. While millions of young people are out of work, the percentage of those unemployed who have a bachelor’s degree is about half that of those without a degree.

But the ultimate key is to find a way to earn that sheepskin without mortgaging your future in the process. Scholarships and grants can certainly help students on the funding side immensely, but for those with a mindset, there are a number of ways to dramatically reduce the overall costs of earning a college diploma.

Reducing College Costs

The first aspect of controlling your college costs is to simply examine the cost of tuition by school categories. Here are the numbers as reported by the College Board:

• Average tuition at two-year community colleges: up 7.3 percent to $2,544.
• Average tuition at four-year public schools (in-state): up 6.5 percent to $7,020.
• Average costs at for-profit institutions: up 6.5 percent to $14,174.
• Average tuition at four-year public schools (out-of-state): up 6.2 percent to $18,548.
• Average tuition at private four year institutions: up 4.4% to $26,273.

These numbers are definitely the first ones to analyze, but when looking at ways to reduce this cost, there are two critical elements to these figures.

First students must look at the cost per credit hour. When examining the published cost, students must look carefully at both the published tuition per credit hour and the latest college invention, fees that are generally listed as added costs that can raise the price burden per credit hour significantly.

Second there is the credit hour issue alone. Most degree programs require 60 hours of study for an associate’s degree and 120 for a bachelor’s. If you can reduce the number of credit hours you must pay for you can significantly reduce your cost of overall attendance.

Step One – Reducing Costs per Credit Hour

For 2009-2010, the tuition and fees at public two-year community colleges would produce a per credit hour average of about $85.00 ($2,544 in total costs divided by the average course load of 30 credits). In contrast, we see that the average cost per credit hour for in-state students would be $234 for public schools and $876.00 for private.

So the first step to controlling costs per credit hour is to examine the best way to obtain your desired degree. Simply-stated, unless you have unlimited funds for school, a well-to-do uncle or grandparent, forget about those expensive private schools.

While private schools may boast of providing a better product, it is important for prospective students to understand that college is what you make of it. In fact, many of today’s top business leaders graduated from public institutions: Warren Buffett, CEO of Berkshire Hathaway attended the University of Nebraska-Lincoln. H. Lee Scott, the CEO of Wal-Mart Stores, attended Pittsburg State University in Kansas while James Sinegal, the CEO of Costco Wholesale attended San Diego City College.

Therefore, the first way to manage you college costs is to attend a public college, generally a campus of your state university system. I know: that just might not sound so exotic when you are discussing the topic with family and friends. But it is important to realize that exotic costs bigger bucks.

Second, if you truly want to minimize costs yet obtain a diploma, the most cost-effective road would be to earn your first 60 credit hours (years one and two) at a local community college, then transfer to a public state university school for your final 60 hours (years three and four). Even attending community college for one year would represent an enormous reduction in college costs.

There would no doubt need to be some initial homework to determine which community college credits would be transferable upon matriculation at a state school. You might even have to do some negotiating, but many of the mundane course requirements of any degree program could certainly be addressed at a community college. And if you find a course will not transfer, don’t take it. Save your funds for later. All total, with a little effort you could knock off more than a year’s worth of the higher-priced tuition costs.

Step Two – Reducing Credit Hour Costs

The second way to dramatically decrease your college costs is to reduce the number of credits you must pay for at the required tuition rate. There are almost an unlimited number of ways to reduce the number of credits that you must shell out funds for, but a good many of them must be accessed while you are still in high school.

For example, taking Advanced Placement courses can result in potential college credit. Such courses are often available at your local high school either by direct instruction or through the school in online format.

Students gain access to college-level curricula and upon completion of the material may take an exam to determine mastery. Passing that exam can provide college credit at a large number of colleges across the country.

Students may also take the College-Level Examination Program® (CLEP) tests in 34 different subject areas. These exams, at $72.00 per test, can provide anywhere from 3-12 credits at certain colleges at a fraction of the cost.

Today, many local colleges also offer courses to high school students in their area free of charge (referred to as early college). Again, given the cost per credit hour, students should investigate such options extensively and take advantage of what is available.

In all instances, including the possibility of seeking life experience credit for a work portfolio, the key is to do one’s homework up front. That means sitting down with college officials to review what credits the school will accept when a student does enter that respective institution.

For example, some schools will not accept AP classes whatsoever. Others will allow credit only provided students score a four or five on the exam (even though a three is considered a passing score).

While in college, another very distinct option to reducing credit-costs is referred to as the co-op or internship experience. Here again, the concept is dependent on the school one attends.

Co-op and internships provide students practical learning skills in a specific field through the use of work placements. In such programs, students may receive either pay or course credit for their time. If the experience is in your field of study, the work-related insight one gains is incredibly valid for one’s future career.

At the same time, many such experiences also offer college credit when students combine the proper reflection and academic review to the work experience. In certain instances, these experiences serve as a triple benefit, providing some cash to help pay the bills, some college credits to reduce the number that must be paid for, and even the possibility of potential job placement opportunities that can form as a result of the connections one makes while performing their service.

Reducing Miscellaneous Expenses

In addition to the tuition costs, students face a number of other related expenses while working towards that diploma. Such costs include room and board, books and supplies, and travel expenses.

The bottom line is these costs cannot be categorized as mere incidentals, certainly not when repeated over a four-year period. Once a school is chosen, tuition costs are set but students still have decisions that can greatly reduce the incidentals that accompany tuition costs.

Step Three – Eliminate the Room and Board

One way to reduce your four year college outlay is to rethink the idea of room and board. While many cringe at the thought, it is imperative that students understand the current going rate for room and board is now $8,193 at public colleges and considerably more at some private, elite schools.

Examine that number carefully – it is more than the average cost of tuition at four-year public schools. And it is more than triple the average tuition costs at a two-year community college.

Now spread that out over four years – a total of more than $30,000!

The simplest way to reduce this expense is to live at home. Such a decision becomes a possibility if you consider the community college/state university combined four-year plan we mentioned earlier. It certainly becomes viable if you consider community college for the first two years at a minimum.

If your home residence is simply too far away, you also need to carefully assess the school rates for both the housing and the meal aspects.

It could well be far cheaper to lease an apartment or house, especially if you can find others to share that cost.

In regards to meals, most school plans represent a significant cost per meal. In addition, missed meals seldom produce anything in the way of refunds if you do not access them. So when purchasing any meal plan, be sure it is a plan you will access.

There is no doubt that living at home limits one of the indirect benefits of college, the activities available and the connections made on-campus. To obtain those experiences, students will have to work harder at this element. But the experiences are available to all students, even if you are not residing on campus.

Step Four – Distance Learning Courses

Once available primarily at for-profit institutions, online learning is now available at a multitude of schools including state university systems. Completing one or a number of online courses can greatly impact your miscellaneous expenses.

We noted earlier the need to take into consideration fees when calculating tuition costs. Online courses often allow students to be exempt from a number of facility and campus-related fees such as student activity, campus access and technology fees. At one Florida school that lists tuition costs as $50.00 per credit hour for in-state students, those costs move to $150.00 per credit hour when all the fees are factored in.

In addition to potentially eliminating these on-campus fees, online courses also eliminate travel expenses and room and board entirely. They also can be a key component of our final savings step.

Step Five – College in 3.5 or 3.0 Years

While tuition costs are per credit hour and programs mandate a specific number of credits, miscellaneous expenses occur each semester. So one of the simplest ways to reduce total outlays is to reduce the number of semesters you are at school.

That reduction can of course come from the aforementioned reduction of credits needed. It is for this reason that AP courses, CLEP tests, Co-Op programs and Internships compound your savings, reducing costs at both levels.

But it can also come from taking additional courses each semester. Taking one extra course, either via online methods or simply taking another traditional class, for just five semesters will reduce your program from 4 to 3.5 years. Taking two online courses each summer and one extra traditional class each semester could reduce your college program to 3 years. Prerequisites can make this a challenge but with a little effort you can reduce the standard four-year program.

Remember, such steps would carry tuition costs per credit hour, but they would greatly reduce the costs of room and board and those incidental traveling expenses associated with attending school.

Control Your Expenses and Earn Your Degree

While costs are growing substantially, it is important for students to know that out-of-pocket costs have trended down in recent years. In fact, while tuition and fees have risen as much as 20% since 2004, the average net price of college has dropped over the last few years.

The reason is the greater availability of grants, financial assistance and tax benefits.

Of course such developments make it all the more enticing to consider our steps to cutting the costs of college. According to a recent Time article, the increased aid development means that the “average student at a two-year college or university pays nothing in tuition and fees and collects about $500 toward living expenses.”

Of course, marketing is what drives the business world – if you package your product well enough, people will seek to acquire that product at all costs.

Generally speaking, all colleges have taken advantage of this concept. But some, specifically those elite private schools, have done so to the extreme.

The result is far too many students are being enticed, taking on ridiculous levels of debt as they attempt to obtain a diploma from a school they simply cannot afford. It is time that students, as well as their parents, went back to the old school adage, finding a quality product at a price they can afford.

With a little work and a certain level of sacrifice, students can earn that coveted diploma without mortgaging their entire future in the process.

We have frequently highlighted the roll of social media in college, even when it turned out to be a bad fit. Some professors have taken a liking to it, particularly note passing on Twitter. Going one step further, College Scholarships is incorporating Twitter into a scholarship now. Students may enter the 140 Scholarship by Tweeting their answer to the following question “how we Twitter be used to improve the world?”

It was with a great deal of disappointment that we read the recent Tracy Jan post at the Boston Globe. With colleges cutting services and programs in the midst of an economic meltdown of epic proportions, Jan decided to do a little investigative reporting regarding a rather touchy subject.

In “Strapped Colleges Keep Leaders in Luxury,” Jan examines the current housing arrangements of a number of Boston area college presidents. The descriptors she uses to describe the residences certainly contrasted vividly with the non-stop news of employee layoffs, program cuts and tuition increases.

Opulence Reigns Supreme

Jan refers to MIT president Susan Hockfield’s home as a “stone mansion,” a luxurious beauty with wonderful views of the Charles River and its nonstop parade of sailboats moving up and down the waterway.

In the case of Northeastern president Joseph Aoun, it was a mammoth “five-story brick town house” featuring 9,000-square-feet and 7.5 bathrooms. It too had a location to die for, sitting just across the street from Boston Common.

Jan notes that these two leaders are not alone in their good fortune, that their “counterparts at other private colleges reside in luxury as well, many on centuries-old estates surrounded by well-tended gardens and lawns cared for by loyal staffs.”

But it was interesting to note the response of the schools when Jan sought to visit some of these residences. Only Wellesley president Kim Bottomly was willing to allow a Globe reporter and photographer to get an inside glimpse of one of these palatial homes (Jan notes Bottomly’s bedroom overlooking Lake Waban and speaks of at least two servants at the president’s disposal).

Jan is nothing short of realistic when she speaks of an opulence that stands in stark contrast to the current mood on campuses.

The “homes, many provided by universities as part of their presidents’ compensation, are the ultimate perk in this college-rich region, but one that increasingly appears to represent a bygone era.

“While the houses often serve an important ceremonial role and it is questionable how much money could be saved by their elimination, the very mention of them has elicited low-level grumbling on campuses and anxiety among university officials over the Globe’s request to tour them.”

Not a Simple Issue

Jan is right. It is truly debatable as to what savings might be available but the contrast with the current situation of others who work on campus is reminiscent of the blindness of those firms on Wall Street, especially those awarding bonuses just after being given a government bailout.

And the fact that most declined to allow the homes to be viewed added to the feelings that college leaders were out of touch regarding this issue. In fact, the answers used reeked of amazing ambivalence. According to Jan, school spokespeople indicated the presidents at MIT and Harvard simply were “not around” while their counterparts at Tufts and Boston University “should be afforded a measure of privacy.”

Those same spokespeople also attempted to put a positive spin on what others would categorize as a tad excessive, insisting that the homes served as a space for entertaining luminaries, hosting visiting dignitaries and wealthy donors, and even welcome students and neighbors.

Given this amazing perk, it is easy to see why so many have suggested that “presidents could take a pay cut to reflect the free housing they’re receiving.” Certainly, given the current college fiscal environment, one might expect schools to take a look at the cost basis for these buildings and the salaries of college presidents.

As tuition soars, in many cases beyond the means of the average student, more and more reporters will be placing pressure on schools to examine what might be deemed excesses. If schools are to handle that pressure, they will need to think twice about limiting access.

It sends the wrong message and only reinforces a view that colleges remain ambivalent to the cost concerns of the average student.

In recent years Republicans have been taking a beating at election time. Both the House and Senate now feature enormous disparities with Democrats ruling both Washington chambers.

For Republicans, a return path to prominence is generally equated to a return to the principles of one of America’s most popular presidents, Ronald Reagan. It is equally a path away from the recent Bush years where budget deficits began to grow significantly.

But those who espouse a return to conservative principles that were the hallmark of the Reagan era have to be extremely troubled by a new paper from Harvard’s Kennedy School of Government.

The findings: trickle-down economics simply does not work as theorized.

The Premise

The theory of monetary policy that became known as trickle down economics focused on tax cuts for the upper-income classes. Conceptually, reducing taxes for the wealthy meant more funds for that segment of society.

The wealthy would theoretically spend their additional income. That spending would increase general economic activity, that activity would generate jobs and those jobs would result in better paychecks for the less wealthy.

The process was dubbed trickle down economics because the theory involved wealth flowing from the wealthy on down to those without the same means. Instead, the new paper indicates that in both financial categories, in total wealth and net income, the wealthiest gained at the expense of the less fortunate.

Tax Rate Changes

In reporting the findings, the Wall Street Journal noted the incredible change in the top marginal tax rate since Reagan took office in 1980. At that time, the top tax rate stood at 70%.

By 1989, the rate had been reduced to 28%. Today, the top marginal rate sits at 35%.

Those numbers not only pale in comparison to that at the time Reagan took over, it must be noted that the top marginal rate stood at 94% in 1945.

Concept without Merit?

It must be noted that the paper did not argue that trickle-down economics was without merit. But the Journal quoted one of the paper’s authors, Christopher Jencks, as follows:

“It certainly didn’t deliver as much as many said” Jencks states. And as for any positive effects, Jencks offered, “the effects are really small.”

In today’s economic climate, one that sees enormous state and federal budget deficits, tax rates have to be part of the conversation. In fact, given the negligible positive impact of trickle down economics, it is easy to see why some are calling on increased taxes for upper income wage earners as part of the method for funding national healthcare.

If you are a college sophomore or upperclassman, you have experienced the full-frontal assault of the end of the year dorm clean out.

Because some students have exams right through Friday afternoon, then have only until 12:00 p.m. Saturday to be out of their room, there is no time to appropriately deal with all the items in the dorm room or on-campus apartment. Not only is there simply too much accumulated stuff to fit all of it in your car without making multiple trips home, you simply don’t have the time to deal with breaking the stuff down so that it might fit.

The result, loads of valuable items get tossed into the dumpster or in most cases by the end of the week, piled alongside an overflowing trash unit. Chairs, couches, tables, VCRs, and even television sets can be seen sitting on top of these containers or resting on the curb beside these huge bins.

Perhaps the most appalling aspect is the realization that the space in your car is already spoken for yet you are now witness to literally piles of items that you would scoff up in a minute if it were the beginning of the school year.

Schools and Students Taking Action

More and more, as green-eyed students across the country become aware of the earth and the need for greater sustainability, recycling programs have started to emerge for this end of the year clean out. The goal is simple: reduce the number of reusable items heading to a landfill or transfer station and get them into the hands of another potential user.

There are many successful ways to deal with the process. One simple step is for a group of students to locate a place for storage of viable items, especially the larger units such as mini-refrigerators and other electronic gear. Then, using a group of student volunteers, these unwanted items are collected and taken to the storage facility to be sorted out.

The following fall, those very same items are put up for sale to the incoming students at the school. Any collected funds that remain after the costs of storage have been taken care of are either donated to worthy charities or to the school’s nonprofit sustainability organization to further sustain a school’s green mission (if one exists).

Another common method of dealing with the leftover items is to involve community organizations and use them to solicit volunteers for all the handling tasks as well as the storage of items. Instead of selling them to students, the collected items can be sold in a massive community yard sale. Later, the proceeds from any sales can then be divided among the nonprofit groups according to the time each specific organization puts into collecting and selling the items.

Want to Start a Program?

Many other programs are underway with variations on these themes. In certain instances, students can simply leave unwanted items in their dorm room where they will be collected later.

Still, there are a number of schools where the idea has not caught on.

If you are interested in getting such a program started at your university, a nonprofit called Dump and Run helps interested groups. They can offer ideas regarding item collection, donation and storage, as well as appropriate ways of handling the cash that comes from selling the collected materials.

If the end of the 2009 school year has come and gone and your school still is not on board, it would make a perfect project for next year. Students interested in starting a program at their school can contact Dump and Run for assistance and advice.

Ultimately, the end-of-the-school-year recycling program is a true win-win. No student ever feels good about throwing such material in a dumpster. And our landfills/transfer stations are already strapped with mountains of trash.

If this tax law stuff is going to get straightened out, it looks like it will fall on our shoulders. Because our elected officials today just can’t seem to develop any cohesive plan of action, never mind creating tax law that actually makes sense.

Mind Blowers

Roni Deutch has made a habit of noting some of the craziest of the crazy taxes. How about the Alabama card tax?

It seems that anyone who purchases a deck of cards in Alabama must pay a ten-cent “card tax.” The state law fixes the tax for a deck that contains up to 54 cards.

The number of cards makes it very easy to get around the tax. A company can simply create a deck with three jokers for those packs to be sold in Alabama.

Another crazy one is dubbed the jock tax. This one began in California and has been enacted in most states that are home to one or more professional sport teams.

The jock tax is assessed on income earned by athletes. It is also assessed against the wages the athlete pays for personal trainers, agents and any other people the athlete employs.

Not sure that this is what the founding fathers had in mind by everyone is created equal. We know athletes make way too much money but somehow we think our forefathers meant pro athletes should also be treated as equals.

But, for two of the most absurd, we turn to the IRS and the illegal activities that you must report on your income tax forms. First there is the stolen property tax (document page 92, pdf page 94):

“If you steal property, you must report its fair market value in your income in the year you steal unless in the same year, you return it to its rightful owner.”

The key challenge here, of course, is in determining fair market value of your theft.

Then there is the income you earn specifically from other illegal activities (document page 91, pdf page 93). Yes, income from illegal activities, such as money from dealing illegal drugs, “must be included in your income on Form 1040, line 21, or on Schedule C or Schedule C-EZ (Form 1040) if from your self-employment activity.”

That’s right, if you are dealing for someone else, then you report what you were paid on line 21 of your 1040 form. But if you have your own drug business, then you report your earnings on your self-employment tax form Schedule C or Schedule C-EZ.

You Can’t Make this Stuff Up

And in yet another of the sublime, you can’t make this stuff up, tax laws we turn to the Estate Tax. Or as the Republicans like to call it, the Death Tax.

It seems that under President Bush, we abolished the estate tax effective in 2010. That means, regardless of the size of a person’s estate, he or she can pass 100% of it on to their heirs. The government gets nada, zero.

However, because of the potential tax impact on the government, as in not having enough money to run the government, Republicans eliminated the estate tax for the year 2010 only.

Unless Congress acts, the estate tax remains in place for 2009 and will return in 2011. Given the current budget climate and the views of the Democrats, it also seems very unlikely the tax will be reinstated for 2010 or repealed in 2011.

So, in a nutshell, those in the position to inherit sums from an aging relative are hoping that person makes it through 2009 in good stead but then kicks the bucket in the year 2010.

So here is the potential – the heir does everything in his or her power to ensure that the relative survives past December 31st of this year. But next year, the heir has an incentive to see that the relative passes away.

Ouch.

Time to Revamp our Tax Code

If we were really sick we could note that any tangible incentives utilized to facilitate an inheritance in 2010 would need to be reported as income under the IRS illegal activity, a factor that could then make the inheritance taxable. But we don’t want to go there.

Instead, we just note this is our tax law – crazy, absurd and in desperate need of repair.

Man, do we have some work to do.

A sixfold expansion of the current Perkins Loan Program forms the centerpiece of President Obama’s goal for making college more affordable for middle-class America.

In recent days President Barack Obama has taken a number of hits over the economy and the bonus packages being doled out by bailed-out insurer IAG. He has also received significant criticism, some coming from members of his own party, over his first proposed budget.

However, the newly-elected president continues to be a ray of hope for young people, particularly those pursuing a college degree. As but one example, within his proposed budget Obama is not only seeking to vastly increase the amount of money available under the Perkins Loan program, he is hoping to adjust the qualifications for such loans so that more students will be able to benefit from the program.

The proposal stands in stark contrast to that of our prior president. A year before leaving office, George Bush sought to eliminate the entire program.

Easing the Middle Class Burden

Arne Duncan, the newly appointed Secretary of State, touted the proposals in a recent address to a career and technical-college group. Duncan also insisted that the proposals were a critical component of the new administration’s plan to ease the middle-class burden associated with paying for the costs of a college education.

Obama’s plan is to expand the Perkins Loan program six-fold in terms of dollar amounts, from the current $1-billion available to $6-billion a year. In explaining the expansion, Duncan also indicated that the funds would help more students attain that coveted diploma, an indication that the Perkins Loan criteria might also be adjusted.

While the program is a loan option, borrowers would have access to low-interest, need-based annual loans. Currently, students may borrow up to $4,000 for their undergraduate years (maximum of $20,000) and $6,000 for graduate studies (maximum of $40,000).

The Perkins loans are exceedingly attractive to need-based recipients as they are provided fee-free, at low-interest and without a credit check. They also feature a nine-month completion of school grace period, a full three months longer than the traditional 6-month for other federal aid programs.

The Perkins loan expansion will be in addition to the tuition tax credit already in place. Congress recently approved increasing that tax credit from $1,800 to $2,500.

Program Adjustments Still Unclear

How the new funds will affect the program are not entirely clear as yet. Possible options include adjustments to the yearly borrowing limits and the per student lifetime totals.

Another potential option could simply be more funds for schools to loan out. The monies are currently provided on a first come, first serve basis and most schools run out of funds before all qualified-borrower needs are met.

Yet another option could be adjustments on the earnings-level threshold, a step that would allow more families to qualify for these low cost loans.

More details on the current Perkins Loans program are available here.

Flickr photos courtesy of Llima and Obama-Biden Transition Project.

With college costs soaring, budget-conscious students owe it to themselves and their families to give careful consideration to one of the tuition-free college programs currently available.

Last week we featured Cooper Union in downtown Manhattan, an extremely selective school with a storied history. Today we head to Appalachia to look at another tuition-free option with an equally storied history, Berea College.

First Interracial School in the South
Founded in 1855 by the Reverend John Fee, Berea was the very first interracial and coed college in the South. Significantly ahead of its time, the school actually reverted to serving only white students when the Kentucky Legislature passed a law in 1904 prohibiting school integration.

The school, located in the town of Berea 35 miles south of Lexington, remained all-white until 1950 when the law was amended. At that time Berea immediately returned to its initial commitment and became the first school in Kentucky to again admit African-Americans.

A large endowment allows the school to provide every student a full-tuition scholarship currently valued at $23,000 per year. As with most tuition free colleges, students are responsible for room and board, fees and miscellaneous expenses estimated at $7,500 per year. Those fees include a technology fee related to the school’s one-to-one computing laptop initiative.

Admitted students must demonstrate two key characteristics: the ability to meet high academic standards and have limited economic resources. The largest percentage of students are from Appalachia (73%) but those currently attending Berea, some 1500 plus students in total, come from 40 states and more than 60 countries. Approximately one third of the student body is from an ethnic minority.

Those who attend Berea are also required to work at least 10 hours a week in one of 130 distinct work areas. That requirement is designed to develop an appreciation for the dignity and utility of labor and to help students gain valuable job experience.

The immersion in a work-study program also enables each student to limit their need for borrowing to earn that coveted diploma. Traditionally, Berea graduates rank near the top nationally as being among the least-indebted students in America.

Liberal Arts Focus
The school’s web site notes that the core of Berea’s general studies program “is required of all students, is distinctly liberal arts in nature, and that the liberal arts pervade the design of the College’s pedagogy and curriculum.”

Often ranked as one of the South’s finest regional liberal arts colleges, the school offers undergraduate academic programs leading to Bachelor of Arts and Bachelor of Science degrees in 28 fields including 14 teacher education programs.

The school also is known for its Christian character. It is a philosophy that hearkens back to the school’s interracial roots and prominently features the college’s motto; “God has made of one blood all peoples of the Earth.”

Offering a nationally recognized service-learning program and internships/co-op options, Berea presents budget-conscious, financially-needy students a unique, well-rounded educational opportunity.

Flickr photos courtesy of Glenn E. Malone and Blueathena7.

High school students looking to learn more about the college application, admissions and choice process have a great upcoming opportunity next month.

CollegeWeekLive, the world’s biggest virtual college fair, has been set for March 25th and 26th. Featuring more than 250 colleges and universities from around the world, the annual event is expected to see as many as 28,000 attendees.

What makes CollegeWeekLive so unique is that it offers all of the standard college fair information that students seek when attending such an event but does so in an online format. Therefore, from one’s home or school computer, a prospective college student has access to a wealth of information in a cost-effective and convenient manner.

The bi-annual event (held each November and March) offers students access to some of the top experts in the field. Virtual fair attendees can watch admissions experts speak on SAT preparation, the application essay process and or how to pay for college. Attendees will also be able to ask various questions via live chats.

The event will also feature virtual booths for the various colleges taking part in the fair. These booths will offer student attendees electronic brochures, videos, webinars, and podcasts related to the school. In addition, students will have the opportunity to real-time Instant Message and/or video chat with admissions counselors and students from those institutions.

As for the specific, potentially-valuable presentations for students March 25th offers:

• How to Go to College in a Tough Economy – Dr. Katherine Cohen, Author, President of Applewise
• Perspective From the Admissions Office – An Admissions Office Panel featuring Dr. Patricia Peek, Fordham and Gil Rogers, U of New Haven
• How to Prepare for and Take the ACT – Andrea “Rae” Jones, ACT
• Getting Into College Support – Amy Newmark, Editor Chicken Soup For the Soul: Teens Talk Getting into College
• Being a Student Athlete – National Collegiate Scouting Association Counselor Lisa Strasman and Carla Pentimone
• Federal Financial Aid and the FAFSA Form – Department of Education
• Understanding the GI Bill – Patrick Campbell, Chief Legislative Counsel, Iraq and Afghanistan Veterans of America

On the second day, March 26th, scheduled topics and presenters include:

• What Matters in College Admissions – Matthew Greene
• Choosing a College – Rob Franek, The Princeton Review
• Mythbusting the SAT – Laurence Bunin, Senior Vice President of the SAT Program, The College Board
• Writing a College Essay – Jaye Fenderson, Author, Seventeen Magazine
• The College Interview and Visit – Bev Taylor, The Ivy Coach
• Attending an International School: The University of Melbourne – Krista Northup, North America Manager, University of Melbourne
• Planning For Paying For College – Angela Nuzzi, NHHEAF
• Sports Scholarships – Dion Wheeler, National Collegiate Scouting Association

More details on the proposed agenda as well as relevant links to some of the presenters are available on the CollegeWeekLive agenda page.

Though the program should be extremely worthwhile, as an added incentive to folks, College WeekLive will be giving away a brand new 13-inch aluminum MacBook to one lucky attendee of the fair! . There is a video contest and the chance to win a $2,500 scholarship to the college of your choice.

And if you attended the November CollegeWeekLive and are still a current high school student, you can also complete a survey that will make you eligible to win an iPod Touch or a $300 donation to the charity of your choice. High school seniors will find the link to their survey here while underclassmen will find a separate survey at this location.

We recently published a guide to personal finance for students.

We would love to hear your feedback about it, and if you think your readers would appreciate it, please help spread the word.