In - Your Guide to College Admissions from The Princeton Review

Why Study Time Has Declined

Survey data shows that, over the last 50 years, the average undergrad's out-of-class study time has dropped from about 24 to 15 hours per week.

A recent Washington Post article explores several possible reasons for this decline. These include the increased prevalence of off-campus jobs and the advent of technologies (e.g., the Internet) that make study time more efficient. Additionally, it addresses the possibility that college has simply become easier over the years.

Click here to check out the full article.

How Much Will College Cost in 18 Years?

By the time today’s toddlers graduate from high school, the total cost of a private college education might be over $100,000 a year, says Kal Chany, author of the book Paying for College Without Going Broke. Chany estimates that the price tag at in-state public institutions will be about $50,000 a year. Click here to read more on CNBC.

A “Fair and Balanced” Take on College Costs

News outlets tend to favor a negative spin on current events, and this is certainly the case when it comes to college costs.

Obviously, college costs and student debt have increased dramatically in recent years. Both schools and students need to be more fiscally responsible.

Unfortunately, many media outlets have opted for negatively charged speculations when covering this issue. If taken to heart, statements such as “students borrow way too much” and “student loans are the next mortgage bubble,” can discourage students from investing in their education.

A recent article from University Business addresses some of these speculations and aims for a more rational viewpoint. Click here to check it out.

The Serious State of Student Debt

The New York Times recently began a new series of articles on student debt in the U.S.

As college costs have risen, so has the prevalence of student loans. According to the Times, 94 percent of bachelor's degree recipients now carry student debt.

Recently, the federal government has attempted to help students to better understand the ramifications of college costs. It has mandated the net price calculators seen on college websites and proposed a standardized form for financial aid offers.

However, the responsibility for paying for college ultimately lies with students.

Students should know the consequences of any student loans they might be considering, including the amount and number of monthly payments involved. Additionally, before they borrow, they should realistically evaluate the job market and starting salaries in their fields of interest.

Click here to read more on the Times.

The Cost of Hitting “Snooze”

According to a post on StudentLoanNetwork.com, skipping classes in college is like throwing away money.

How much money? For every one-hour class missed, students at public colleges waste $20 in tuition money; students at private colleges waste $50. Those with student loans end up wasting even more due to interest.

Click here to check out the full post.

A Hunger Strike to Protest Rising Tuition

A dozen students in the California State University system are fasting to protest CSU’s increasing tuition and shrinking course offerings. The students have pledged to abstain from solid food for at least a week. Click here to read more on the New York Times.

Do Merit Scholarships Drive Up the Cost of College?

For some, the month of April is a sweet reversal on the norm in college admissions.

It is the only time of year when colleges are at the mercy of their applicants; schools can say who is in and who is out, but they cannot force anyone to enroll.

However, colleges rarely leave themselves without any say in students’ decisions. Most use merit-based financial aid to woo the applicants they want most. They know that, regardless of how much money a student has, a financial gift makes an offer of admission much more appealing.

Currently, about a third of college students receive merit aid. At public institutions, merit aid comprises more than half of all funds awarded.

Merit aid might seem like a fairly innocuous strategy; after all, the kids who receive it have earned it through their hard work. However, a recent NPR segment argues that the rise in merit aid has actually made college more expensive overall.

Because merit aid is awarded to students who do not need the money, it reduces the funds available for students with financial need. On the whole, it depletes a school’s available resources and drives up its cost of attendance.

Click here to check out the full segment on NPR.

When Considering Colleges, Weigh Costs and Resources

The financial part of the college decision is a bit of a balancing act: you don’t want to pay more tuition than you must, but you also don’t want to attend a cash-strapped school with low graduation rates.

Joanne Jacobs, an expert on the community college scene, points out that students who take longer to graduate also wait longer for the increased earning potential of a degree. In this way, a cheaper school can end up costing more in the long run.

Click here to read more.

College Students and Credit Cards

I hear what you’re saying: you’ve already taken a hefty loan to pay for college—what’s a few thousand bucks on a credit card?

Unfortunately, credit cards have less favorable repayment terms than most student loans do. A sizable credit card bill can cost you more, in the long run, than a bigger student loan.

If you don’t minimize your post-college debt, monthly payments can force you to take a job you don’t want. And you’re going to college to expand your options, not limit them, right?

For more info on student credit cards, check out this post on StudentLoanNetwork.com. Also check out yesterday’s IN post on making a budget.

Keeping a Budget in College

If you’re a recently admitted applicant, you probably have a lot on your mind: choosing a school, taking student loans, finding roommates, etc.

Chances are good that a freshman-year budget isn’t a real priority of yours right now. However, creating a budget is something you’ll want to do well before you arrive on campus in the fall. It will help you to keep expenses down and limit personal debt (such as credit card debt) while in college.

For a primer on how to manage your expenses in college, check out StudentLoanNetwork.com.