Avoiding Student Loan Debt, Cost of Degree, Educational Consulting, Understanding the Market

How Does Our Service Work?

If you’re a high school student, a college student thinking about transferring, a college student thinking about graduate school, or a parent of any one of these, Bright Futures Educational Consulting can help you or your child choose a major and then a college that will give you the best employment prospects with the least debt. That’s our goal.

And, we can do it for students anywhere in the world for a relatively low price.

No matter where you are, you start out with either a telephone or an internet chat. This one hour initial consultation is free. After that, if you choose to retain our services, after you make payment you’ll be sent a link to our proprietary online questionnaire. As part of the questionnaire, you’ll upload a copy of your most recent unofficial transcripts. The questionnaire and transcripts will allow us to make an assessment of your strongest interests, your secondary interests, and then your strengths and weaknesses. It really covers everything.

After we’ve done this assessment, we’ll generate a customized report spelling out your best options for higher education, from choosing a major to choosing a college, along with an analysis of the possible return on your investment for your different degree options.

From there, we start working together — on your application essay, your request for letters of recommendation and, if needed, your financial aid and scholarship applications. Then, you start applying.

Even if you think you’re a weak student with limited options, we can find options for you that you didn’t think you had. Once you’ve started applying, we’ll be with you to advise you and help you all the way until you start college, even up to the point of making sure you’re in touch with the right people at your new institution.

The services you receive are customized — you can save money by only getting help in the areas that you most need it. After that, our consulting service has two tiers. First, in-person and direct, and next, online only. In-person consulting is higher depending upon travel costs. We’re located on Florida’s Space Coast, so anywhere from St. Augustine, FL to Jupiter, FL along Florida’s east coast and then into the Orlando area is our lowest price. Outside that radius, prices go up a bit.

If you’d like to keep costs low, though, you can choose our online only consulting. Since all of our initial consulting and the questionnaire is online, we can conduct all follow up meetings online, and we can send you copies of your consulting report by both email and paper mail.

It’s probably best if you think of our service as an investment that’s bound to save you money — thousands of dollars in student loans, wasted time at the wrong institutions or pursuing the wrong majors, and a lot of stress dealing with the unknowns involved in applying to college. Give us a call and see how we can help you in your specific situation. Check out these other links for more information:

Avoiding Student Loan Debt, Cost of Degree, Graduation Rates, Learning, Majors and Areas of Study, Return on Investment, Understanding the Market

Revisiting “An Era of Neglect”

In 2014 the Chronicle of Higher Education ran a lengthy article about higher education funding titled “An Era of Neglect.” The number of candidates proposing reforms in higher education funding this election cycle has made student debt, education funding, and education costs hot topics again, so I think now is a good time to revisit these reports.

In short, between 2008 and 2014 economic downturns and private sector commitments to paying as few taxes as possible has led to cuts in state budgets. Rises in tuition costs during this period were exactly proportional in many cases to cuts in state budgets for education, and in order to drive up admissions, colleges are increasingly investing in sports and amenities rather than in qualified educators.

The result is that the business sector is getting what they’re paying for in the form of lesser-skilled college grads, the costs of college are being increasingly pushed onto the public in the form of debt, and a new debt crisis is looming as college graduates are increasingly unemployable or underemployed, making it difficult to repay these student loans.

While colleges and universities can be more responsible in their spending patterns, that by itself isn’t enough to reverse this situation.

You might think it’s smart to just skip college altogether, but with few exceptions, bad prospects for college grads mean worse ones for those without a college education.

The only winner in this situation is the financial sector, at the expense of taxpayers.

An Era of Neglect – Special Reports – The Chronicle of Higher Education.

Avoiding Student Loan Debt, Cost of Degree, Understanding the Market

How We Used to Fund College

A number of presidential candidates are floating the idea of “tuition-free college.” I’d like to put that into historical context.

My father, who is in his 80s, only had to pay $9.00 a term to attend college at CCNY back in his day. He could easily pay that out of pocket with his part time job. In today’s dollars, that would be equivalent to paying about $90 for a full semester of coursework, or four or five classes. Not $90 per class, but $90 per semester, or about $18-$22 per class.

Do you really think that $9.00/term tuition covered the cost of running the college? Of course not. It was that cheap because the City of New York was funding it.

So when Bernie Sanders says he wants “tuition free” college, he’s just trying to set up the same system his generation had when it went to college. The same system that existed through the 40s, 50s, 60s, and the 70s most places. It’s not about getting free stuff, or not pulling your weight, but about setting up a system that actually works, like the system we had back in the 50s.

Why did the City of New York end tuition free college? Not because it couldn’t afford it. It was a political move. According to The University Against Itself (Temple UP, 2008), New York University, an expensive private institution in New York City, lobbied with city government to end state tuition so that it could be more competitive for students. The issue wasn’t financial, or that the system wasn’t working, or that New York City residents didn’t like it. It was purely political, and the politicians working now to reverse this situation are sensibly trying to work a political fix for a problem that was political to begin with.

If you graduated before college in 2008, you had a lower debt to income ratio than any college student afterwards did. If you graduated college before 1990, it was much, much lower. It’s not just about “individual responsibility” when a predatory system has been set up to trap people doing something they need to live.

Avoiding Student Loan Debt, Educational Consulting, Majors and Areas of Study, Understanding the Market

Understanding College Advising

If you’re a student, you probably have a number of people advising you: teachers, guidance counselors, college admissions people, your parents… the list could go on. I’d like to help students understand what advising — and educational consulting — can and can’t do for you.

All advisors should listen to the student’s own long and short term goals, and they should ask leading questions to help the student clarify them. They should recommend a variety of paths to the student to reach those goals, but be honest, informed, and realistic about these different paths. Advisors should also provide materials to the student to help the student make better informed decisions, and they should engage in advising with the student’s best interests in mind.

But a good advisor won’t feel obligated to validate all of the student’s goals or ideas. If a student is really committed to humanities Ph.D. study or law school, for example, the advisor should still inform the student of the realities of these programs of study, not tell the student what he or she wants to hear. Being honest about the realities of a path may be discouraging to the student, but the student still needs that information to make an informed decision.

A good advisor will also be honest about the student’s demonstrated abilities so far in their educational careers. If a student’s grades are weak in math, science, or English, a good advisor will be honest with the student about the barriers those grades might present. However, a good advisor will also know that a student’s grades do not define the student as a person or necessarily summarize their potential. In other words, good advisors know that not all barriers are insurmountable.

A good advisor won’t do anything other than advising: good advisors give students facts about the field, the market, and educational options, but they don’t try to make students’ decisions for them. They also don’t give students advice intended to benefit the student’s educational institution above the student. Every B.A. program would love to say 90% of their graduates were accepted for Ph.D. study, but that doesn’t mean that 90% of their graduates should be pursuing Ph.D. study. Good advising, in other words, is never anything other than a supplement to the student’s own decision-making process. It is not supposed to or be able to take the place of the student’s own decision making.

If you’re a student, you should know that your decisions are ultimately your own. You make them and then you live with the consequences. Because these are ultimately your decisions, you should be aggressive in pursuing information that will help you make the most informed decisions possible. Get everything that you can from your advisor and then seek out other information as well. Listen to your advisors, even if you disagree with them, rather than demand to be told certain things. And, listen to a number of advisors. Don’t get your information only from one source.

You should also think generally about what you most want. Do you mainly want to make a living? Or do you mainly want to perform fulfilling work? Are you willing to make a bit less money to be more fulfilled in the kind of work that you do?

There are no right answers to these questions. Some people pursue work in high-paying fields and then burn out and make expensive mid-career shifts to more fulfilling fields. Some people pursue fulfillment but have a hard time making a decent living. Ideally, of course, we would all work in fulfilling jobs that pay well, whether we work as employees, own our own businesses, or do creative, freelance work.

We all also need to understand that the ability to do work that is both fulfilling and very profitable is dependent upon many arbitrary factors. At the least, it is dependent upon the random intersections of what this society chooses to reward financially, your own abilities, and your own interests. Just don’t mistake profitability for inherent value: scientific or engineering work generates patents and/or high end products (like bridges, tanks, and computers), so produces a lot of money, and there aren’t enough people around with math skills at that high a level, so the employee pool is small.

Someone who produces something that can be packaged and sold at high volume can also make a lot of money: one hit single can pay a lot. But while small employee pools, high end products, and mass produced products drive up the profitability of a line of work, an engineer or singer is not inherently more valuable, socially, than a middle school math or music teacher. You can’t have engineers and singers without math and music teachers. If we lost every pro basketball player in the world, the world wouldn’t be that bad off–maybe it’d even be better off in some ways. But if we lost all of our music and math teachers, that would be a long term disaster for the human race.

What might that ideal spot of wage earning and job fulfillment look like for you? No advisor can answer that question. No one can tell you what you want. Advising can only point you in a direction that leads you to your goals, so no advising will be better than your own knowledge of your own goals. Bright Futures Educational Consulting is here to help you define your goals first, and once you’ve done that, it will show you the best paths to help you meet them. Contact us for more information.

Avoiding Student Loan Debt, Cost of Degree, Educational Consulting, Graduation Rates

A Few Thoughts about Free College

With the upcoming election cycle, a number of candidates have been discussing a variety of plans for financing college education, some of them being called “free college for all.” I hope at a later date to provide a comprehensive overview of each of the major candidates on education, but at present I would like to take a look at what candidates have been calling “free college.”

First, we have a real problem with student loan debt. Forbes very recently described it as a $1.5 trillion crisis. I know that student loan debt has been around a long time, but it’s ballooning, and students graduating now have a much higher debt to income ratio than students who graduated before 2008. The Forbes link above provides very good historic data about how students have been increasingly taking on higher student loan debt.

Some colleges are better than others, though. As you’ll see in the Forbes data, students graduating from public colleges have the lowest rate of student loan debt (66%), followed by students graduating from private non-profit colleges (75%). The most debt-burdened students are those who graduate from private for-profit colleges (88%), and dangerously, these students also have the lowest graduation rates. The amount of debt held follows the same pattern: those who attended public colleges hold the least debt while those who attend private for-profit colleges hold the most.

Next, 2008 is an important year. It’s the year that the biggest economic crash since the Great Depression hit worldwide. Massive unemployment caused a drop in state revenues, and a drop in state revenues created almost immediate, and very large, cuts in state support for education across the boards. State colleges and universities could only survive by massively increasing tuition, with immediately increased the student loan burden held by students attending these schools.

We should also understand that no one is really promoting “free college.” Bernie Sanders has a plan for “tuition-free” college, which is really taxpayer supported college, but even “tuition-free” college isn’t free college. Students still have to bear the costs of room and board, books, fees, travel, and incidentals, and at many public colleges and universities room and board can be equal to or even twice the cost of tuition. For example, at UCF this year tuition is about $6,300, while room, board, and books is just over $11,500. Sanders’s plan is a great improvement over our current system, but by itself it won’t solve our student loan debt crisis.

We should next take into account state funding. If the Fed stepping in just means that states will cut their funding, that move will cause more damage. As it is, the massive state cuts to higher education funding following the 2008 crash have had ongoing and long term negative effects on higher education. So while we need Federal programs that fund tuition apart from debt, we also need commitments imposed on states to maintain their funding. If the federal government covers tuition, state financial aid should then be redirected toward room, board, and books.

But can we even afford to pay for this? Yes we can — we’re actually very close to paying for it all already. It’s more a matter of how we allocate our current spending and finding a few additional sources of revenue, but that will be the topic of a future post. Taxpayer supported college education is the only viable model going forward, but the details of this plan matter.

I would like to leave you with the thought that we do indeed need to fund college societally. A college education is not a luxury item; college educated citizens are needed for the workforce, and everyone benefits from their presence, even those who never attend college. Without college graduates we would have no roads, infrastructure, buildings, utilities, internet, medical professionals (doctors, nurses, and technicians) — the list could go on. A college education is not a personal luxury, but a societal necessity, and we need to come together to help cover it. Massive debts just mean an inevitable crisis, and right now there is more student loan debt than credit card debt.