Student debt hits the middle-aged – from the NYT by Josh Mitchell

Excerpt:

Student debt is rising sharply among all age groups, but middle-aged Americans appear to be struggling the most with payments, according to new data released Tuesday by the Federal Reserve Bank of New York.

The delinquency rate—or the percentage of debt on which no payment has been made for 90 days—was 11.9% for debt held by borrowers aged 40 to 49 as of March. That compares with a rate of 8.7% for borrowers of all ages.

.

Student debt hits the middle-aged

My hats off to Clayton Christensen and Henry Eyring!  My respect level just went up yet another notch for these two people.

Seeing as Clayton is a Professor at ***Harvard‘s*** Business School and Henry is an ***Administrator*** at Brigham Young University, their stance and recent letter to college and university trustees nationwide is a wonderful example of true leadership.   They risked many things by taking a stand and urging institutions of higher education to change. Their purpose is noble. Their message should be heeded.

From the website of the American Council of Trustees and Alumni: (emphasis by DSC)

Clayton Christensen: higher ed trustees “crucial as never before”
Harvard Business School professor (and bestselling author of The Innovator’s Dilemma) Clayton M. Christensen and Henry J. Eyring of Brigham Young University recently sent a letter to college and university trustees nationwide, recognizing a critical turning point for the future of higher education. “If you’ve been serving for more than a few years, you’ve seen a big change in the nature of trustees meetings,” the authors wrote. “Before the downturn of 2008, the agenda tended to focus on growth and on ways to fund it…. At some point, the bubble was bound to burst—or at least start to sag. Now that it has, your role becomes crucial as never before.” The letter urges trustees to demand innovative solutions to expand student access and improve academic quality at their institutions: “The innovators can do more than merely avoid disruption. They can help usher in a new age of higher education, one of unprecedented access and quality, a combined industrial revolution and renaissance.”

 

.

Addendum on 7/16/12:

20 exciting teaching tools of tomorrow — from onlineuniversities.com

Excerpt:

These tools offer new and often very promising ways to connect with students and improve the quality of education offered in schools. Read on to learn about just a few of the websites, programs, and amazing technologies of the future teachers and students alike will soon be using.

Higher Ed Tech" Where K-12 & Consumer Collide - Frank Catalano - March 2012

 

Excerpt:

What’s our agenda? It’s basically in three parts:

  1. What student expectations are
  2. Where innovation is coming from and what’s driving it
  3. And what it’s developing into over the next three years – in 5 transcendent trends that span K-20

 

Also see:

When Technologies Collide: Consumer, K-12 and Higher Ed -- by Frank Catalano -- April 2012

Apple’s revolutionary move into robotic manufacturing — from seekingalpha.com

Excerpt (emphasis DSC):

Apple (AAPL) is about to become one of the world’s biggest buyers of industrial robots. The company has announced a 78% increase in its non-retail capital expenditure to $7.1bn. Analysts in Asia and America believe that the size of Apple’s robot purchases could tie up the market for several years, making it difficult for companies such as Samsung (SSNLF.PK), Nokia (NOK) and HTC (HTCXF.PK) to compete.

Up to 700,000 people are employed in China, making products like the iPhone and iPad for Apple. It takes 141 steps to make an iPhone and each iPad will, over the course of the 5 days that it takes to build it, pass through 325 pairs of hands. Although labor only represents about 3% of the cost of building these products for Apple, the wages of Chinese factory workers have been rising at about 15% a year for much of the last decade. Problems managing this workforce have also harmed Apple’s image in a region that has become the most important engine of its growth.

Apple’s move represents an important step in the use of robots in manufacturing. Robots have long been used to build cars, but not so widely used in consumer electronics because these products are more difficult to make.

From DSC:
Some questions that come to my mind:

  • What happens to jobs in this new environment?
  • What needs to happen to people in this new workplace/environment?
  • How do we educate and train students to enter this ever-changing workplace?
  • How can we make STEM-related subjects more approachable and less “weeder” like?

 

 

Establishing Better Collaboration Between the Corporate World and Higher Education -- by Daniel Christian

 

From DSC:
The above article I wrote for evoLLLution.com (for LifeLong Learning) mentions the need for — and the opportunities to build:

  • More streams of content flowing between these two worlds
  • Web-based learner profiles
  • Tools that students can begin using in their collegiate days that they can later tap into long after they’ve graduated
  • Using teams of specialists
  • MOOCs
  • Collaboration between a corporation and an entire classroom
  • and more

 

 

 

Some student loans to become more expensive despite deal — from The Washington Post by Ylan Q. Mui

Excerpt:

Even as Congress moves to prevent undergraduate student loan rates from doubling, lawmakers have decided to eliminate two federal subsidies that will increase the cost of higher education.

One would hit the same college students who are benefiting from the interest rate freeze. Though their rates will be only 3.4 percent, they will be responsible for paying that interest as soon as they throw their graduation caps in the air — a change that is expected to cost them more than $2 billion.

Meanwhile, students hoping to earn the advanced degrees that have become mandatory for many white-collar jobs will no longer be eligible for federally subsidized loans. That means graduate students are facing an $18 billion increase in interest rate payments over the next decade, about three times the amount at stake in the debate over undergrad interest rates.

Both measures will take effect Sunday.

The 20 best job apps for new grads — from bestcollegesonline.com

 

 

 

 

The Service Patch — from The New York Times, OP-ED piece by David Brooks

Let’s put it differently. Many people today find it easy to use the vocabulary of entrepreneurialism, whether they are in business or social entrepreneurs. This is a utilitarian vocabulary. How can I serve the greatest number? How can I most productively apply my talents to the problems of the world? It’s about resource allocation.

People are less good at using the vocabulary of moral evaluation, which is less about what sort of career path you choose than what sort of person you are.

In whatever field you go into, you will face greed, frustration and failure. You may find your life challenged by depression, alcoholism, infidelity, your own stupidity and self-indulgence. So how should you structure your soul to prepare for this? Simply working at Amnesty International instead of McKinsey is not necessarily going to help you with these primal character tests.

Furthermore, how do you achieve excellence? Around what ultimate purpose should your life revolve? Are you capable of heroic self-sacrifice or is life just a series of achievement hoops? These, too, are not analytic questions about what to do. They require literary distinctions and moral evaluations.

When I read the Stanford discussion thread, I saw young people with deep moral yearnings. But they tended to convert moral questions into resource allocation questions; questions about how to be into questions about what to do.

 

Also see:

Excerpt:
If you’re in college, or happen to be about to graduate, and you’ve been mocked for getting a liberal arts degree, here’s a piece of welcome news: You’re actually in more demand than those who are getting finance and accounting degrees. That’s one of the findings of a new survey of 225 employers issued today by Millennial Branding and Experience Inc.

 

From DSC:
My thanks to Mr. Will Katerberg, Dir. Mellema Program and Professor of History at Calvin College, for these resources

 

Top 100 Schools for Animation, Gaming, and Design - May 2012

 

Excerpt:

The animation education industy has never been so competitive, with schools competing for students and students competing for a small number of available industry jobs. The job rate and student employability has dropped to the lowest in years, so a top-notch animation education has never been so critical.

All this has made choosing the right animation school extremely difficult. To help students navigate through the world of animation schools, we’ve put together the Top 100 most highly-regarded and sought after animation schools on the planet. This list of the Top 100 Schools in Animation, Gaming and Design was compiled via a mixture of school reviews, industry-reviewed lists like the Princeton Review, and via a survey of the animation industry professionals and recruiters from companies like Pixar, J.J. Sedelmaier and DreamWorks who were featured in our Interview Series. And without further ado, here are your Top 100 Schools in Animation, Gaming and Design:

 

Virtual career fairs emerging as “next big thing” in recruiting — from HR Web Advisor
Job seeking in the tech age — from Las Vegas Review Journal by Joanna Haugen
MyBrainShark being used for video-based resumes
Jobs few, grads flock to unpaid internships — from The New York Times by Steven Greenhouse
Confronting the worst job market in decades, many college graduates who expected to land paid jobs are turning to unpaid internships to try to get a foot in an employer’s door.
Live and learn, or lose: Five ways to keep from being outdated– from uxmag.com by Cahlan Sharp
The New Networking: Ultimate LinkedIn Guide for 2012 Grads — from onlinecolleges.net

.

Addendums:

 

 

 

For Indiana University business grads, a tough final lesson
Those who failed to pick up tickets for ceremony now face black-market prices.

 Excerpt:

“I can’t believe it. It’s absolutely distressing,” said Beatty, a senior from Fishers who missed the pickup time for free graduation tickets for herself and her parents last month and now faces paying several hundred dollars to attend the ceremony in the auditorium on the Bloomington campus.

“My parents spent $70,000 to send me here the last four years, and they won’t be able to attend,” she said Wednesday. “It’s really opened my eyes about Kelley students. What have we been taught here? Why are my fellow Kelley classmates charging me extortion rates?”

From DSC:
I can’t comment on Beatty or the other students who didn’t take immediate action to acquire their tickets to the event (perhaps that’s one lesson to be learned here).  But more troubling to me were the reflections I had after reading this article:

  • What lessons did these soon-to-be graduates really learn here? It seems that these students have learned to make a buck in whatever way they can.  After all, that’s capitalism, right? (But capitalism without true stewardship, values, leadership, and caring about others can be destructive — as we are witnessing and experiencing these days within the United States…and most likely within higher ed as well.)
  • What was modeled by IU? Were the “customers” treated right after spending tens of thousands of dollars at IU? What are the rest of us doing along these lines within higher ed?

Which got me to thinking…what are the motivations of today’s graduates as they enter the workplace? What are their goals in life? What are institutions of higher ed really teaching and modeling about such goals? 

Which got me to thinking…what are the states of their hearts? Our hearts? 

Deep thoughts from just a graduation event…
but the streams we swim in run deep and
we don’t have know how powerful they really
are until we try swimming upstream.

Daniel

 

 

 

 

Student-loan debt tops $1 trillion — from WSJ.com by Josh Mitchell and Maya Jackson-Randall

Excerpt:

The amount Americans owe on student loans is far higher than earlier estimates and could lead some consumers to postpone buying homes, potentially slowing the housing recovery, U.S. officials said Wednesday.

Total student debt outstanding appears to have surpassed $1 trillion late last year, said officials at the Consumer Financial Protection Bureau, a federal agency created in the wake of the financial crisis. That would be roughly 16% higher than an estimate earlier this year by the Federal Reserve Bank of New York.

From DSC:
Phrases/words that come to my mind include (which many readers of this blog and my archived website will instantly recognize:

  • Reinventing ourselves
  • Staying relevant /addressing our customers’ needs
  • Innovation
  • Strategy
  • Leadership
  • Vision
  • The business side of higher ed / new business models
  • Game-changing environment
  • Disruption
  • Dangers of the status quo
  • Student-related
  • Future of higher education
  • The Walmart of Education
  • Learning from the Living Room

Addendum on 3/23/12:

 

From DSC:
Arguably, Sal Kahn has become the most famous, influential educator on the planet today — his videos are watched millions of times a day now.  The question — which Eric Schmidt answers in the piece — I couldn’t help but ask was, “Why didn’t this type of innovation come from someone who was working in education at the time of their innovation?”

My thanks to Dr. Kate Byerwalter and her colleagues for passing along this resource.
The tags/associated categories for this posting point out the relevant areas covered.

 

Khan Academy: The future of education?

Also see:

  • Khan Academy: The future of education?
    (CBS News) Sal Khan is a math, science, and history teacher to millions of students, yet none have ever seen his face. Khan is the voice and brains behind Khan Academy, a free online tutoring site that may have gotten your kid out of an algebra bind with its educational how-to videos. Now Khan Academy is going global. Backed by Google, Gates, and other Internet powerhouses, Sal Khan wants to change education worldwide, and his approach is already being tested in some American schools. Sanjay Gupta reports.

From DSC:
A relevant graphic comes to mind with what Sal is trying to achieve with analytics:

i.e. Highly-effective diagnostic tools for the educators and trainers out there!

 

 

© 2024 | Daniel Christian