More than half of college students now rely on federal grants and loans, according to a new report from the U.S. Department of Education. But even as more federal grants are going to low-income students, colleges are giving more aid to students who are better off.
Jim Rawlins, president of the National Association for College Admission Counseling and director of admissions at the University of Oregon, says one reason is that wealthier families tend to go to pricier colleges.
“Giving them $8,000 towards a $45,000-a-year tuition bill is still having those families pay quite a bit of money,” Rawlins says.
Students with family incomes above $100,000 received grants that were roughly 25 percent larger than those whose families earned less than $20,000, according to the report. Students from the top-earning families also received $10,200 in institutional grants on average – compared to $8,000 in grants for families below $20,000 in annual income.
“Those aren’t the families for whom it’s really gonna make a difference whether or not the students go to college at all,” Potter says.
Affluent students often end up getting a larger share of merit-based aid, as well. Rawlins acknowledges there’s pressure to use scholarships to boost the school’s academic rankings.
“That becomes part of a balance between what a school wants to do and what it knows it has to do,” he says. “I certainly see some problems with that, but I also see some inevitability about it.”
With endowments depleted by the recession, Rawlins says it’s harder for colleges to give grants to students in need.
21-year-old Moritz Erhardt collapsed and died this week after reportedly working very long hours at Bank of America's offices in London. Erhardt, a German business studies undergraduate, was on a seven-week internship. He is said to have been so eager to impress his bosses at Bank of America that he worked almost around the clock three days in a row. He is reported to have died after an epileptic fit while taking a shower.
Commentaters are now calling for a change in the finance industry’s working practices. Chris Roebuck, a former banker and now professor of leadership at Cass Business School, says junior employees in London’s financial district are frequently pressured into working up to 100 hours a week.
“This is despite all the evidence we have that clearly shows that should an individual work in excess of 70 to 75 hours, the quality of their decision-making, the quality of their output, falls off dramatically,” says Roebuck.
Bank of America said it was deeply shocked and saddened by the young man’s death and that new staff will be advised on how to cope with the pressures of the job.
Hewlett-Packard reports its quarterly results Wednesday as it tries to adjust to a shifting tech landscape. These days, PCs are passé.
In fact, it’s pretty much a post-PC world for legacy tech companies like H-P, Dell, and IBM. They don’t make much money from hardware anymore. Now, the money is in cloud services, analytics and artificial intelligence.
IBM’s Jeopardy-winning computer, Watson, is an example of what’s lucrative, says tech analyst Rob Enderle.
“The money is in the technology that makes them smart, not in the hardware itself,” he says.
But while IBM bets on artificial intelligence, Dell leads in the server market and Hewlett Packard is investing in cloud services. Ben Bajarin of Creative Strategies, a Silicon Valley consulting firm, notes that older tech companies aren’t trying to be king of the entire computer hill anymore, just part of it.
“I don’t think they’re all on the exact same path,” he says, “and I think that’s where we’ll see it for the next 25 years.”
If the companies are still around. Carl Howe, vice president of the Yankee Group, says older tech firms missed out on the mobile market and their new strategies may not save them.
“It’s a little bit like saying, Chrysler and the like were making great cars, but the market has moved to flying cars,” Howe says. “Mobility is a case where your car really does have to fly.”
Or at least fit in your purse.
U.S. Bankruptcy Judge Allan Gropper has approved Kodak's plan to emerge from court oversight. That paves the way for it to be a much smaller company focused on commercial and packaging printing.
All this week we're looking at accessibility and how technology is helping people with disabilities approach their lives in new ways. Today's installment starts with an anomaly: a Harvard professor who doesn't like to read -- at least not until recently.
Dr. Matt Schneps is an astrophysicist who suffers from dyslexia, and he's published a study this summer with some surprising findings. It turns out that reading on a computer screen -- even a tiny one -- might actually help people like Schneps with speed and focus.
Young people are interested to get involved with both the local food movement and more conventional forms of agriculture. But many of them are finding their options limited. Ranch and farmland across the plains is going for several thousand dollars an acre, keeping many aspiring farmers out of the market.
The centerpiece of Fox's new all-sports network is a talk show hosted by Regis Philbin, who says his credentials for the job are that he's a fan. Poor Fox. Poor Regis Philbin. This is no way to start a sports network.
Several vintage sports have seen resurgence among young people lately: roller derby, kickball and even bocce ball. But one century-old sport hasn't just found new fans; it's getting an urban facelift.
The Internet and file sharing have transformed how young people think about possessing music, art, books — even cars. As the millennial generation questions ownership of nearly any possession, they are opting instead to spend money on experiences. And car companies are left scratching their heads.
When she was just 12, Edith Lee-Payne's face was immortalized in an iconic photo from the March on Washington. Decades would pass before Payne learned that her image has been used as part of documentaries, books, calendars and exhibits about the history of the civil rights movement.
A military judge said she'll announce at 10 a.m. Wednesday the sentence for Army Pfc. Bradley Manning, who gave reams of classified information to WikiLeaks. Prosecutors have asked for at least a 60-year prison term.
Four State Department officials have been cleared of security failures that led to an attack last year on a diplomatic outpost in Benghazi, Libya, that killed U.S. Ambassador Chris Stevens, authorities said Tuesday. The officials will be reassigned to new jobs.
Al Jazeera America premiered to a limited U.S. audience on Tuesday, after it replaced Current TV in the channel line-up of many U.S. cable providers.
Only five of the country's biggest cable operators carried Current, and one of them -- AT&T U-Verse -- dropped the channel on Monday before the switch. Al Jazeera America has hired hundreds of U.S.-based journalists and TV production staff, and has been very open about its hopes to win over a skeptical U.S. public.
In a wide-ranging interview with Marketplace's Kai Ryssdal at the Aspen Ideas Festival earlier this year, the channel's interim CEO, Ehab Al Shihabi, said he believed that the channel's journalistic offerings would be something the American public will watch -- and pay for.
“I am not entering the landscape of opinionated news. I am not entering the landscape of the infotainment," he said. "I'm entering a landscape which, in my opinion, doesn't exist or it exists but not in the level that the American audience deserve. So the idea here is we are entering for a market that consider underserved.”
Al Shihabi also talked about American's knee-jerk reaction to the cable channel's name -- and the popularity and demand of another all-news channel."I think I'm very confident that Al Jazeera name -- the time they watch Al Jazeera, the time they taste Al Jazeera America, they will accept it," he says, "and they will become loyalists and followers.” He says, "Our experience since 2006 with Al Jazeera English indicated there is a space and there is a huge demand for that type of news.”