Breaking the Small Business Code

College Students Want a "B" Just for Showing Up!

    WOW!  An article by the New York Times highlights the incredible sense of entitlement student have about college grades!  And this does NOT bode well for their future in the job market!!

    A recent study by researchers at the University of California, Irvine, found that a third of students surveyed said that they expected B’s just for attending lectures, and 40 percent said they deserved a B for simply completing the required reading. 

    This attitude is says the problem is so common that colleges are holding classes about how college grading works!  James Hogge, associate dean of the Peabody School of Education at Vanderbilt University said: “Students often confuse the level of effort with the quality of work. There is a mentality in students that ‘if I work hard, I deserve a high grade.’ “

    Per the article,Dean Hogge says this is about “the locus of control.” The goal is to put the academic burden on the student.“Instead of getting an A, they [need to] make an A,” he said,"... if they make a lesser grade, it is not the teacher’s fault. Attributing the outcome of a failure to someone else is a common problem.”

    Grade inflation and self-esteem programs have apparently created a generation of students who do not recognize that doing what is simply required makes you an "average" or a "C" student. Instead, students see an "A" the starting point.  They do not understand that "trying hard" is not the same as "getting results"

    This article shines a light on the problems a lot of my newly graduated students are experiencing in their jobs. They do not seem to understand the difference between adequate (C) and outstanding (A) behavior and the difference between trying (C) and achieving results (A).  Several have lost jobs in this melt-down and they couldn't understand why they were let go when they "tried" so hard.  They couldn't understand why the employer would be "grading" them on concrete results.

    Anyone in education see this problem in your schools?  What do you employers want to say?

   

What is College For?

   

    FABULOUS article in today's Inside Higher Education!  The topic was 3 year degrees. But it was reading both the article and the comments that made it clear that there is an even more basic question to be answered before deciding on how many years college should take.That question is . . .

WHAT IS COLLEGE FOR?

    Comments show the opinion on what college is all about varies from getting a job, having fun, gaining wisdom, getting an education (as opposed to a degree), research, money, etc.  It is very clear that without lack of clarity on WHY go to college, it is no wonder there is no agreement on how long that process -- whatever it is and it is for -- would take!!

    My first reaction to the article was to talk about my experience that much of the problem today is students simply "choosing" or being "forced" to take 5 years to get a 4 year degree. Sometimes it is the student’s fault by taking light loads for various reasons.  But more and more it is due to the student's inability to get their required courses! State colleges and universities are especially difficult right now because classes are not being offered during this semester/quarter or too few sections are offered to handle all the students who need it or the program is changed, etc.

     I originally was thinking about credit "creep" where more and more units/classes have been added to majors in order to graduate. I was thinking about students who start college with no clear path or major which means they are taking classes that may or may not be appropriate to the final major.

    But I think the dialogue first needs to be What is college for?  I know this both an individual AND a national dialog that needs to be held!  What do you think?

MBA and Jobs - Part 2

    I just read another article on how MBAs are having their visions of "corporate jets" crushed by the realities of the economy. One of the trends Business Week reports is MBA programs are seeing is more graduates interested in nonprofit and government jobs. Here is one of the most illuminating segments of the article:

"Better than Nothing

      Business schools have already been seeing some movement toward nonprofit professions, though historically those students have been outnumbered by investment bankers and consultants. Few new graduates—4.4% last year—typically take positions in nonprofits or government, says Kip Harrell, president of the CSC and vice-president for professional and career management at Thunderbird School of Global Management. However, the financial crisis and the scarcity of six-figure offers, could accelerate the do-gooder trend. Patrick Perrella, the director of MBA career development at the University of Notre Dame Mendoza College of Business, broke it down this way: It's an easy decision "if your choice is a government job at a lower salary or no job at all."

    What I find interesting is how this is positioned as a cynical trend with students looking for jobs, period. I would hope that students who enter nonprofit and government service have a passion and an interest in their new industries.  As a taxpayer and advisor to several nonprofits, I would hate to think that these students are working in their jobs by default. 

     Something NOT mentioned in this article is the enormous cost of an elite/Ivy League MBA and the return on investment the student (and/or parents) get. Is it still a good "investment" if the job you get pays similar to one you could have gotten with just a bachelor's degree?

    Any comments from students who took a nonprofit or government job because it was available instead of their vision? Are you still okay with the cost and time you invested?

MBA Schools "Retooling Emphasis" and Business Grads With No Jobs

     I recommend those interested in high end business schools read this article about Wharton MBAs in Reuters.  It is an interesting analysis of two key problems facing business schools and their graduates.

     The first problem is many of the banks, financial houses and major corporations had CEOs and senior advisors who were graduates of some of the most elite business schools in the country.  Yet having degrees from the exclusive programs at Harvard, Yale, Wharton and others did NOT stop the melt-down, bank failures, etc.  As a matter of fact, many insiders are saying the pride and hubris of these elite graduates would not let them consider there could be downsides to their actions!

     This "failure to plan for failure" has led schools like Wharton to rethink the curriculum being taught.  Many of the major companies had used the programs and skills they learned in Biz schools to justify their flawed thinking. So schools are now looking at planning for downside assumptions and using the melt-down as a "teachable moment".  As an engineer, I was taught to ALWAYS plan for failure.  Makes me wonder if maybe tech geeks would make better managers to help lead us out of this crisis!

     This leads to the second problem which is the lack of jobs for graduates. The article presents the obvious reason which is the traditional employers are gone or in serious contraction.  But what was unsaid is many employers do not want to hire students whose predecessors have not done such a good job! 

     I don't think graduating from a name brand MBA program will become a "Scarlett Letter" that keeps graduates out of good jobs. But many companies are not giving graduates a "free pass" just because they came from an elite school.  I see more and more companies looking for "dirty hands" and experience in making things work and grow. I am recommending more internships, MLM/network marketing businesses, and/or running a business from a "dorm" to my students!

    Comments and experiences from recent graduates are welcome!

New Stimulus Bill 's Housing Related Benefits & College

     We don't know all the details yet but the recently passed Stimulus Package looks to have three potential benefits for families thinking about buying or refinancing a home. I wanted to share how these items can have possible benefits for college planning:

• In 2008, the conforming loan limits were increased to $729,750.  The American Recovery and Reinvestment Act of 2009 (ARRA 09) reinstates the $729,750 conforming loan limits until December 31, 2009.  This means lower interest rates for loans up to this amount. Higher rates come with "jumbo loans" that exceed this amount.  If your home still has equity, this could be a good thing to take advantage of lower interest rates for college planning!

• The 2009 bill will offer first-time home buyers a tax credit in the amount of $8,000 providing you purchase a home between January 1, 2009 to December 31, 2009.  The credit does NOT have to be paid back to the government unless the buyers sell their home within 3 years after the date of close of escrow on the home.  If you have the means, this could be a great time to help your student(s) buy their first home in lieu of a dorm. 

• The American Recovery and Reinvestment Act of 2009 offers incentives to existing home owners for going Green.  A tax credit of up to $1500 is given to home owners who make some “Green” home improvements.  These Green home improvements include, but not limited to, energy efficient windows, doors, and furnaces.  So doing something to save energy costs could help reduce taxes both of which can improve tax flow for college.

     As I learn more about ARRA 09, my team and I will look for ways to help college-bound families use the benefits to help pay for college!

College Kids and Monkeys About Equal on Math

 "College Kids and Monkeys About Equal on Math" is an eye-catching title of an article posted by MSN Health today,  (PDF copy available here if it is missing from the MSN Site: LPT_PDF02142009).

Elizabeth Brannon, an assistant professor of psychology and neuroscience at Duke University is studying how human adults and infants, lemurs and monkeys think about numbers without using language. She is trying to identify which parts of the brain house "number sense" and the she is trying to determine how this math skills develop.

Among other things, she found college students and macaque have similar speed and accuracy (!) when doing a rough sort of math by summing sets of objects without actually counting them! As an engineer who speaks "math", I found it very interesting that math skills are apparently inherent to primates!

When I first saw the title I was prepared for an article on the sad state of math skills in our college students.  So while it didn't turn out to be that, it got me thinking about why students fight math when it is such a critical tool for college and life success.

I regularly have students tell me they are picking their college major based on NOT wanting anything with "math in it".  I have also lost count on the number of times one of my solid "B to B+" students ended up in a remedial math class in college - a situation which added time AND costs for getting their undergraduate degree!

I started my college planning career with college funding and scholarships, then added admissions, then majors and careers, and eventually added test prep.  But over the last 15 years it has become apparent that focusing on those 4 college-related steps with just high school juniors and seniors was not addressing the real needs of my client families.  Something was missing in their tool kits for success in college and for life!

Basic math skills are critical in the increasingly high tech economy.  Math is needed for personal financial literacy. A lot of our current economic problems can be blamed on people's inability to understand their personal cash flow. That is because virtually all the studies show our students are NOT getting what they need for math success.

I am not going to point fingers at anyone in the education "system" for failing to create math "literate" students. Blaming schools, teachers, parents, administrators, and/or the government is not the way to find solutions. Instead, I went looking for PROVEN TOOLS to make basic skills accessible and successful for more students regardless of the system.  I wanted to find something for teaching 21st century students using 21st century technology.

I am taking an engineering approach to building a SYSTEM for success in education available to anyone with internet access. I am proud to announce the launch on March 1 of a new initiative from Linda P. Taylor's Insider Secrets:  "Creating Access to Higher Scores and the Education Edge" (CAHSEE). 

CAHSEE is designed to pull together the tool kit that middle school, high school, college, and even adults need for learning success!  I want to give families access to the FUNDAMENTAL SKILLS we ALL need for a lifetime of success.  

I will soon announce the CAHSEE program for creating mastery in Math and English Language Arts (ELA).  But in the meantime, I want suggestions from readers about what other needs and especially what tools, programs, and systems you think should be included.  PLEASE send me comments, suggestions, ideas and referrals to make CAHSEE rock!

Social Media Will Haunt You!

There is a great article at EduGeek Journal on how social media can result in undesired consequences. I want students and families to be aware of the risks and the responsibilities when it comes to using social media!  My recommendation is:

Don't use Social Media if you are not prepared for the consequences!

The blog discusses a story about a student posting a hate screed against a teacher on Facebook. The suspended student encouraged other students to also post hateful speech on her Facebook wall.  The student was suspended for her actions and as expected in America, the student is suing.

The blog is a great summary of positions on both sides of the "free speech" aisle - especially when it involves the education community. The situation raises many, many issues that students, families, schools, colleges and employers are just beginning to experience with social media "publishing".

What I find most illuminating is how NO ONE can agree on what net-based Social Media represents when it comes to "speech".

• Is it private free speech like "talking over a burger" or is it "print publishing" because it can be seen and read virtually forever everywhere?
• Does a private citizen have the right to publish an "opinion" and the opinion of others for public consumption OR is it "hate" speech that needs to be punished? 
• Is it private speech or is it "first amendment" press?
• Is it private speech or public incitement? 
• Is calling for an improper act with Social Media protected speech or opinion or something to be prosecuted?
• Does the "permanent nature", easy accessibility and freedom to forward virtually everywhere impact the free speech of the author if social media is used?

Facebook, MySpace and blogs are the equivalent of publishing private magazines and newspapers. Twitter is a public miniblog unless everything you do is a direct tweet. Even if taken down by the web host, many people print hard copy of sites to prove it once contained the information.And the print copy  is forwarded via the web after being scanned!

Once something has been forwarded, it will have an almost infinite life. How many times have you received the same set of cute puppy or kitten pictures from 3 different sets of friends?  Now imagine that the information is juicy gossip or negative information! As many celebrities have discovered, virtually everything posted to the web is stored somewhere and can be retrieved and passed around the world. 

Regardless of how this case turns out, this case and a growing number of others shows me that there is a BIG danger for students and others who fail to use social media in a positive way.  There are already stories about how social media information was used for denial of admissions to a college, kept someone from getting a job or even got users suspended or fired.

I agree with Matt Crosslin who posted the article that regardless of how the "legal" world spins this, you should ALWAYS be ready to take the responsibility for the action of posting, period.  Pulling out the "First Amendment" every time someone doesn't like the consequences of their postings is a disservice to the Amendment. If you do something "stupid" or hurtful on the web, be prepared for the fallout.

I recommend the simple guideline: "Don't post it if you don't want your grandmother to see it".  I also like what my mother used to say when I spread gossip: "if you can't say something nice, don't day anything at all".

ERROR IN THE 2009-2010 FAFSA?

      The 2009-2010 Free Application for Federal Student Aid (FAFSA) contains could be a major problem in how parent and student assets are being defined.  The FAFSA Worksheet and the online FAFSA form both include UGMA/UTMA accounts in the definition of parent assets!  This is either an error or a complete redefining of what is to be included as a parent asset by the Department of Education.

      A UGMA/UTMA account is the way a minor owns financial assets until they are 18 or 21, depending on their state of residence. The asset is in “trust” to a guardian who is an adult responsible for managing the account for sole benefit of the child owner.  Most UGMA/UTMA accounts hold mutual funds, stocks or bonds in the child’s name and are usually managed by a parent or grandparent who gifted the original asset.

      Until this current 2009-2010 FAFSA, a UGMA/UTMA account(s) was listed on the FAFSA as athe filing student’s asset regardless of their age. The good news is redefining a UGMA/UTMA asset as belonging to a parent reduces and could even eliminate the impact of the asset for calculating the Expected Family Contribution (EFC)!  Unfortunately, the FAFSA then uses the exact same definition of an asset including UGMA/UTMAs for the student asset section of the 2009-2010 FAFSA.  This could lead to three potential errors for families filing FAFSAs:

1.  Listing the UGMA/UTMA as both a parent AND student asset thus counting the same asset twice for calculating the EFC,

UC Proposes Lowering Admission Standards

     Amazing how many people still think that a student gets into college based purely on being the "best" compared to ALL applicants in academics and testing. Actions like this peel back the "Ivory Curtain" and let people know the reality of the Admissions process.
     An article in today's Inside Higher Education outlines a proposal by the University of California to drop the SAT II requirement. The proposed change would supposedly shift the ethnic mix on campuses away from Asian Americans to more "whites".  As expected, the special interest groups are massing to complain that the changes are not fair, don't go far enough, are xxxx (fill in the blank).
     As the daughter of a retired Dean of Instruction, I know that colleges want to achieve a "perfect" mixture of student TYPES on campus. These types include racial, sexual, geographic, sports, artistic, legacy, academic, departmental, major, government mandates, etc.
     Colleges are always trying to figure out how to get the maximum number of applicant TYPES so they can admit enough of each to achieve their mixture goals and STILL maintain academic rigor. Unfortunately, when there is only a small pool of applicant types -- in this case "other" minorities like black and Hispanic --  the odds increase that the cutoff GPA and test scores for this type are going to be lower than the pool with larger numbers!
     As this article shows, if a college or college system isn't getting the desired number of minorities or other applicant types to meet their goals, they change the standards or the process to get them! Thus, those who feel PURE merit should rule the admissions process will fight this proposal. People who want a higher minority mix with other "factors" replacing merit will welcome it.
    Even though it is politically incorrect to say it, anyone with a brain can see this is PURELY an attempt to get more minority students into the admissions process. This now raises the usual questions:

*  Is it fair to "dumb down" academic standards to increase minorities?

*  Is it fair to have high academic standards that defacto keep out most minorities?

*  Does it serve society for the college to admit a "less qualified" applicant who is more likely to drop out because of competition with academically more qualified students?

*  What is lost if a college doesn't admit the less "advantaged" applicant?

*  Is it fair the more qualified applicant is denied admissions because they are not the "right" race or sex?

     I do understand the position of the government-funded UCs. But the answer should NOT be to lower academic standards and "dumb down" higher education. Instead of lowering standards, we should IMPROVE the K-12 preparation.  That's why I have changed my personal practice from college "funding" to college preparation! I think we need a HOLISTIC shift in how to qualify more students for college and NOT how to change the standards.
     I am in the process of a new system I am calling CREATING ACCESS TO HIGHER SCORES & the EDUCATION EDGE (CAHSEE). I want to help students create a firm foundation for education regardless of their K-12 and access to college planning resources. I will be sharing more as the days go on about my new affiliations and new focus!

Saving for College in a Down Market - Why Bother

I write a lot about how to pay for college but I have been getting questions about how to SAVE for college as a new parent or grandparent.  Most requests for information start with the qualifier "I want the location to be safe".  But many of them come to me with the attitude of "why bother".

Many of the families I meet with have given up. They've decided that they won't even try to save if there is no point.  I understand their thinking but that's like saying we are all going to die so why try and do anything healthy.

Yes, we are all going to die BUT you want to be able to enjoy your life while we are here!  Doing the "right things" can enhance the QUALITY and maybe the QUANTITY of living.

Saving for college is the same thing. You can enhance the quality and maybe the quantity (or type) of college life if you have done the right thing and saved for college!  While you may not be able to keep up with the costs of college or predict the swings in the market, having savings will usually make the choice of colleges easier.  Having savings will usually make it easier to pay for loans, provide that year abroad or just allow the student to have more spending money!

In the next few posts, I will be offering suggestions and ideas for where to save and what is the good, the bad and the ugly in college financial planning in today's market!  So PLEASE ask your questions so I can help answer your direct concerns!