Gender Inequality and the Problem of Student Debt

If you are woman who has decided to return to college to study for the profession of your choosing, earn a better salary or enjoy more equitable conditions than you may be experiencing in your current workplace, it is important to realize that gender inequality continues to be a hurdle women often have to face once they have obtained their coveted degree.

Last year, the March, 2012 edition of Time Magazine published a seminal article that seemed to indicate that feminism was an out-dated movement. Entitled The Richer Sex – Women are overtaking men as America’s breadwinners. Why that’s good for everyone, the report offered up some interesting statistics: almost 40 per cent of married women had higher earnings than their husbands; women make up some 60 per cent of the student population at most universities; women lay claim to more PhDs and Masters degrees than their male counterparts. What seems an incredibly promising and equitable situation, however, is turned on its head when we analyse the facts in greater depth; the number of female managers has risen by only 3% in the past two decades; women still earn 81% of a man’s median wage and when it comes to top level positions, the scenario is significantly bleaker: women currently hold only 4.2% of Fortune 500 CEO positions.

Women, Minorities and Student Debt

If you are returning to college full-time and you have had to leave your job and take out a student loan to finance your studies, bear in mind that if you are a woman or a member of a minority, you are more likely to be hardest hit by student debt. A recent report published by the American Association of University Women, entitled Graduating to a Pay Gap, reveals that female Bachelor’s Degree recipients who graduated in 2007-2008 and who were working full-time in 2009 earned some $35,296, compared to the $42,918 earned by their male counterparts. Women are spending more of their salary on repaying loans; therefore, they are able to invest less money (the pay gap is also suffered by black students and first-generation college students).

Transparency and Government Protection are Key:

The authors of the report recommend a number of steps to reduce the pay gap, including increased transparency in workplaces regarding pay. They also recommended that employers should conduct pay equity studies to assess pay gaps within their organisations and take the necessary steps to reduce them. The authors likewise highlighted the importance of protecting Pell Grants, which eliminate the need to borrow.

Federal Grant and Loan Options Should Be the First Option:

If you don’t qualify for a grant, make sure you have exhausted your federal grant and loan options before taking out a private student loan: the latter often have uncapped variable rates that are highest for those with a poor credit history. Federal loans, on the other hand, will often offer greater consumer protection and flexible repayment plans, which will come in handy if you decide to take a longer break from work by pursuing a post-graduate degree. The annual volume of new private loans may have decreased significantly since 2007-8, but students are still borrowing billions of dollars in new private students loan every year. The report notes that about 50% of students who took out private loans in 2007-8 could have taken out federal loans yet were unaware of their eligibility for the latter.

Keep Up-to-Date With Relevant Legislative Proposals:

In January, 2013, Senator Durbin’s Know Before You Owe Act was re-introduced; if passed, it will require students to be counselled on federal aid eligibility as well as on the difference between federal and private student loans, before they can obtain a private student loan.

If you have been wanting to return to college, but you are already significantly indebted, you may be able to avail of the Department of Education’s Income-Based Repayment (IBR) program, which limits your loan repayments according you your individual income and family size (you could pay as little as $0). The IBR also forgives any debt that remains after 25 years of payment (the number of years is reduced to as little as 10 if you work for a public or non-profit organisation).

The AAUW is currently supporting the passing of the Private Student Loan Bankruptcy Fairness Act, which would allow private student loans to be discharged when bankruptcy is filed (in the same way that payday loans are discharged), to relieve debtors who are suffering from severe financial distress. Current and prospective students should place pressure on legislators to eliminate the pay gap and to promote fairer human resources policies at work. In terms of pay, the Paycheck Fairness Act, if passed, would offer employers incentives for following the law, and empower women to negotiate for equal pay. The bill was reintroduced in the 112^th Congress but failed in procedural votes. The AAUW continues to urge Congress to pass this important piece of legislation. We should also urge our legislators to encourage human resources policies that embrace equal promotion prospects for women, an equalities and diversity strategy, a mentoring system for women, a fair maternity and paternity policy, a respect for the work-life balance, etc. Government should also promote policies which respect the value of recruiting and appointing women to managerial positions and to corporate boards of directors.

Be Aware of Professions Which Are Particularly Hard-Hit:

As a student returning to College, you want to make sure that you are leaving what could be a stable job for a degree that will significantly increase, rather than decrease, your earnings. On April 12th, 2013, an interesting study indicated that in the profession of engineering, there was a clear pay gap between men and women  to the tune of $13,000 annually. The study found that women were more likely to work in ‘softer’ areas like industrial or chemical engineering, or bioengineering, than in ‘harder’ fields like electrical, computer or mechanical engineering. Women were likewise under-represented in research and development, and overrepresented in administrative, teaching and management duties. Additionally, women were penalized pay-wise for undertaking technical work and for working in fields related to their highest academic degree. Engineering is but one example of where you could pay dearly for being a woman in a male-dominated field. If you are thinking of returning to college, you should be aware of what you can expect in terms of pay and functions, before selecting the degree that best fits your professional goals.

When many people think of college life they picture all night parties, fraternities and chaotic dorms. What they probably don’t picture are middle aged students meandering their way through campuses and lecture theaters or perhaps even living in the same halls. And yet in reality the image of the archetypal college student (fresh out of high school with no other work commitments or family ties) is becoming significantly redundant. A 2008 study showed that over a third of college students are over the age of 25 with that figure set to rise more rapidly than the number of enrollments for the ‘traditional’ college student over the next ten years.

More and more people are looking to advance education by taking a college course and earning a degree. Some may want a career change, others may want to progress further in a certain area and some may have not been able to attend college earlier in their life. But for a mature student the idea of ‘going back’ into education and what is primarily known as a young person’s environment can be a daunting prospect both from a social and academic point of view. If you are an older person thinking of studying again, here are some ways that you can make it work as a mature student.

Organize your finances

First things first – can you afford this? The key difference between mature students and those fresh out of high school is that most older people already have a day job. Can you work your studying around your job? Can you afford to drop the hours that you’ll invariably need to attend lectures and study? Will your work support you? If you’re looking to progress within your existing job then some employers offer a tuition reimbursement scheme or may even pay your fees upfront. If your income falls beneath a specific limit set by the FAFSA then you may also be eligible to receive financial aid towards your tuition fees and grants to help with study materials and expenses. Many students leave college with debts that’s could have potentially been avoided. As an older person you have more life experience and knowledge when it comes to budgeting so use this in order to prevent any maxed out credit cards, overdrafts and loans plaguing you after you graduate.

Find the right balance

As an older student you are more likely to have family commitments as well as professional ones. Managing your home, work and studying lives can seem like a juggling act so it is important to find the right balance. Draw up a rota or timetable and set certain times for out of college studying, family time and work commitments. It doesn’t have to be set in stone but it will help you to manage your time and arrange your priorities.

Don’t be afraid to integrate

Part of the college experience is undoubtedly integrating with other students. As a mature student you may feel like an outsider amongst your younger counterparts but don’t let render you shy and unapproachable. Try to look beyond the age of your fellow students and instead look for things that you have in common – you’re doing the same course so that’s already one similarity. Getting to know your classmates doesn’t mean you have to go partying with them but you can certainly offer each other advice and support in your studies. A simple hello can go a long way and if you feel particularly sociable then think about joining a society in order to get to know your classmates better. If you still feel uncomfortable about thisthen many colleges offer support groups and organisations for mature students throughout the college. This may give you the opportunity to connect with fellow mature students and share some common concerns and opinions. If your college doesn’t offer this service then why not be the one to start it?

Don’t be afraid to ask

Accept that teaching practices will have changed since you were in school so don’t be afraid to ask about any areas that you are unsure about. It is the only way to get the most from your lectures. Technology plays a huge part in teaching so taking a basic IT or computing course before enrolling may be a good idea. If you are still worried then never be afraid to ask a lecturer for additional guidance. It’s what they are there for.

Try it out

Going back to college is a huge commitment and not something that should be entered into lightly. For a traditional student it often seems like the next logical step in life, but for a mature student it is a big decision. If you are unsure then visit campuses for tester days or enroll on interest-only courses. This will give you the opportunity to get a feel for the campus, community and nature of study before you make any final commitments. You can also enrol on part time courses which may take longer to complete but will give you more flexibility outside of college and relieve some of the pressure.

On August 2, 2011, Congress passed the Budget Control Act of 2011, which put into place automatic federal budget cuts, known as a “sequester,” to take effect if Congress failed to enact legislation to reduce the federal deficit by March 1, 2013. Because Congress did not act, these budget cuts are now in effect. Below is a summary of the impact of these budget cuts on certain federal student aid programs.

Pell Grant Program
Direct Loan Program
Iraq and Afghanistan Service Grants
Teacher Education Assistance for College and Higher Education (TEACH) Grants
Questions?

Pell Grant Program

The law specifically exempts the Pell Grant Program from the effects of the sequester. Therefore, the maximum Pell Grant award for the current 2012–13 award yearremains at $5,550 and the maximum Pell Grant award for the upcoming 2013–14 award year remains at $5,645.

Direct Loan Program

While this law does not otherwise change the amount or terms or conditions of Direct Loans, it does raise the loan fee paid by borrowers for Direct Loans disbursed after March 1, 2013.

• For a Direct Subsidized or Direct Unsubsidized Loan, the loan fee will increase from 1.0 percent of the principal amount of a loan to 1.051 percent. For example, the fee on a loan for $5,500 will be increased by $2.80 from $55.00 to $57.80.

• For Direct PLUS Loans for both parent and graduate student borrowers, the loan fee will increase from 4.0 percent to 4.204 percent. For example, the fee on a $10,000Direct PLUS Loan will be increased by $20.40 from $400.00 to $420.40.

The Department of Education will be notifying borrowers individually of these fee increases and providing them with additional information within the next few days.

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Iraq and Afghanistan Service Grants

The Iraq and Afghanistan Service Grant is provided to certain students whose parent or guardian was a member of the U.S. armed forces and died as a result of military service performed in Iraq or Afghanistan after the events of 9/11. Award amounts for any Iraq and Afghanistan Service Grant that is first disbursed after March 1, 2013, and before Oct. 1, 2013, must be reduced by 28 percent from the award amount for which a recipient would otherwise have been entitled, unless the sequester order is lifted. For example, the 2012–13 maximum award of $5,550 is reduced by $1,554, resulting in a maximum award amount of $3,996; and the 2013–14 maximum award of $5,645 is reduced by $1,581, resulting in a maximum award of $4,064.

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Teacher Education Assistance for College and Higher Education (TEACH) Grants

The TEACH Grant program provides grants to students who are completing, or plan to complete, coursework needed to begin a career in teaching and agree to teach, for at least four complete academic years, in a high-need field at an elementary school, secondary school, or educational service agency that serves students from low-income families. Award amounts for any TEACH Grant that is first disbursed after March 1, 2013, and before Oct. 1, 2013, must be reduced by 12.6 percent from the award amount for which a recipient would otherwise have been eligible. For example, the maximum award of $4,000 is reduced by $504, resulting in a maximum award amount of $3,496, unless the sequester order is lifted.

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Questions?

If you have any additional questions about the impact of sequestration on the federal student aid programs, please contact your school’s financial aid office.

Word of the decision began trickling down to the Pacific on Tuesday morning. During a commander’s call at Yokota Air Base, 374th Airlift Wing commander Col. Mark August told airmen that applications for tuition assistance submitted after March 12 likely would be rejected by the Air Force.

“I suggest you call and see where your application’s at,” he said.

Because the Air Force is also strictly limiting TDY, professional education at the service’s Non-Commissioned Officer Academy and Squadron Officer School, both in the U.S., would also be limited, he said.

Commanders would likely have to limit and prioritize airmen scheduled to attend those schools, August said.

Air Force Pentagon officials and Pacific Air Forces officials did not immediately respond to requests from Stars and Stripes for further information.

August told airmen who are concerned about how the cuts in education would affect their promotion prospects that review boards would factor in the education cuts.

The Air Force has been providing $250 per semester credit hour and up to $4,500 a year to airmen pursuing associate’s, bachelor’s and master’s degrees. The Air Force does not charge for professional education courses.

Read more here http://www.stripes.com/news/air-force-joins-army-marines-in-cutting-tuition-assistance-1.211417

“This suspension is necessary given the significant budget execution challenges caused by the combined effects of a possible year-long continuing resolution and sequestration,” Paul Prince, an army personnel spokesman at the Pentagon, wrote in an email to Stars and Stripes. “The Army understands the impacts of this action and will re-evaluate should the budgetary situation improve.”

The Army’s announcement follows a similar move by the Marine Corps.

The Army’s tuition assistance program was available for troops to complete a high school diploma, certificate program or college or master’s degree. Under the program, the Army paid 100 percent of the tuition and authorized fees charged by a school up to established limits of $250 per semester hour or credit hour or up to $4,500 per fiscal year.

“The Secretary of the Army has approved the suspension of Tuition Assistance effective 5 p.m. (Eastern Time) on March 8, 2013. Soldiers will no longer be permitted to submit new requests for Tuition Assistance,” read a statement posted Friday on the GoArmyEd.com website. “However, Soldiers currently enrolled in courses approved for Tuition Assistance are not affected, and will be allowed to complete current course enrollment(s).

“This change in the Army Tuition Assistance program applies to all Soldiers, including the Army National Guard and Army Reserves,” the statement read.

Prior to the official announcement, messages about the suspension were circulating on various Facebook pages and on University of Maryland University College Europe’s webpage.

Frustrations were evident on GoArmyEd’s Facebook page on Friday.Army suspends tuition assistance program for troops – News – Stripes.

Initial claims for state unemployment benefits dropped by 5,000 to a seasonally adjusted 366,000, the Labor Department said on Thursday. The prior week’s claims figure was revised to show 3,000 more new claims than initially reported.

Economists polled by Reuters had expected 360,000 claims last week.

Read more here: http://news.yahoo.com/u-jobless-claims-fall-trend-reading-near-five-133309903–business.html

CollegeComplete.com

Average tuition at four-year public colleges rose 6.5 percent, or $429, to $7,020 this fall, according to the College Board’s annual “Trends in College Pricing” report, released Tuesday. At private colleges, the average list price for a year of coursework rose 4.4 percent to $26,273.

Those figures hide wide variations — public college students in California, Florida, New York and Washington have seen double-digit percentage increases, while the University of Maryland used federal stimulus funds to freeze tuition this year.

More importantly, the estimated net price — what the average student actually pays after accounting for financial aid — was much lower, at about $1,620 at public four-year colleges, and under $12,000 at private ones. Both figures are higher than last year but still lower than five years ago, thanks to recent increases in financial aid both from the government and from colleges themselves. The figures do not include room, board and other living expenses.

Read more: http://www.foxnews.com/us/2009/10/20/college-tuition-rising-fall/#ixzz2K28KjGwL

Read more here http://www.edtechmagazine.com/higher/article/2013/01/how-university-colorado-saved-12000-trees-and-cut-costs-55-percent-green-technology

Collegecomplete.com

IBM is announcing Wednesday that it will provide a Watson system to Rensselaer Polytechnic Institute, the first time the computer is being sent to a university. Just like the flesh-and-blood students who will work on it, Watson is leaving home to sharpen its skills. Course work will include English and math.

Read more here: ‘Jeopardy’-winning super computer headed to college.

I would hate to be the teacher having to tell him that he made a mistake 

CollegeComplete.com

Schools are always trying to stay on the cutting edge…able to produce students who are easily employable.   Now over 300 have received permission to fly unmanned aircraft.

Ever have an idea of what you think the next big thing is?  Ever want to be the first in the field (think Microsoft or Facebook first few employees)?   The first step is getting the education needed and collegecomplete.com can help.

http://openchannel.nbcnews.com/_news/2013/01/29/16726198-anticipating-domestic-boom-colleges-rev-up-drone-piloting-programs?lite