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Posts Tagged ‘economy’

College Students Ask Obama…

Tuesday, January 13th, 2009

Demographic that voted Obama in demands accountability on college costs, employment

Obama’s election victory was in great part driven by his ability to rally youth and first time voters.  In fact, USA Today reported that 66% of voters aged 18-29 and 68% of first-time voters voted for Obama.

Now the demographic that put him in office wants to know: how will President Obama respond to the issues that most concern them?

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In a recent survey, CampusCompare asked nearly 2000 college students “What is the one question you would want to ask the future president?” Not surprisingly, college costs and future employability were top of the list. Increasing unemployment rates are raising concerns amongst students that they will not find the jobs they need after college to pay back those hefty loans.
Through their questions – submitted anonymously – students are sending a clear message that government has a role to play in looking out for their interests.

  • “How will you make sure that as I pay back my student loans that my interest rates and payments will stay affordable?”
  • “Can you ensure there will be jobs available after I graduate from college? How will you create more jobs for people with PhDs?”
  • “Why is higher education worth the investment of $60-$100 thousand dollars, particularly when a college degree does not guarantee a job – even in the best market conditions – and while those same 4 years could be spent gaining entry-level experience of equal or greater career benefit?”

Are today’s market conditions undermining our nations’ students’ drive to seek higher education? It seems that students are still betting on education. An overwhelming 96% of survey respondents agreed when asked “In times of economic crisis, does a college degree become even more important for your employability?” But they are making frugal choices. 70% are not willing to splurge on Ivy League and say, “I just need a degree in order to compete in this job market. Any degree or school will do.”

Chicken Little in 2008: “The Dow Is Falling!”

Monday, September 22nd, 2008

The stock market has obviously seen better days.

Today, Goldman Sachs and Morgan Stanley received permission from the Federal Reserve to change their status from investment banks to bank holding companies. In non-finance parlance, this means that both companies will now be able to accept deposits, just like a regular bank would, in order to bolster their resources.

Yikes. Is that news supposed to comfort us?

It used to be that college students majoring in business and finance could expect a well-paying job right after graduation, but that is certainly not the case in today’s poor economic climate.

Talk about going from cha-ching to kerplunk.

Are you thinking of becoming a business or finance major?  Are you sure? Peter Cohan, an adjunct lecturer in management at Babson College in Waltham, MA, wants you to think long and hard about it in this economy.

“Students thinking they can go into finance are in a for a rude awakening,” said Professor Cohan in an e-mail to CampusCompare, citing fewer employment opportunities after graduation than there have been in the past.

“My advice would be to look at entrepreneurship rather than relying on established corporations to hire [college students],” said Professor Cohan.

That’s a good tip. There have been many a dorm room-grown business that has taken off. Our very own CampusCompare is one such company, as is StudyPoint, a tutoring company that got its start in 1999 with one office in Boston, but now has offices all throughout the country, serving students in more than 15 geographical regions.

If you are interested in running your own business some day, CampusCompare has more than 160 schools offering degree programs entrepreneurial studies in its database.

Hey, if the Wharton School at UPenn worked for Donald Trump and his two children (Donald Jr. and Ivanka, who now work for him), why can’t it work for you?