Posted On: 2005-11-23
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Good Wednesday everyone. It is Wednesday, November 23, 2005. This is episode number 122 of the Financial Aid Podcast. My name is Chris Penn. We have a shorter show for you today only because it's the eve of the holiday weekend. So we are going to try and get everyone out the door today to enjoy time with their family, get on the road if they have to. As a result the show will be shorter today. We're going to cover just little bit of news, a little bit of mail bag, and a little bit of Podsafe music. So it won't be a full-length show and tomorrow show is a holiday music show and Friday will be a Showmo Promo show. We'll show up bunch of different promos. So regular financial aid news and will resume on Monday. Alright, let's get started with the news.
CNN asked, What happened to the other 46%? A recent study of college students who go on to graduate in six years with a bachelors degree shows that only 54% of students entering a four year college had a degree six years later. So the question is, what is happening to the other 46%? After borrowing for school and failing to graduate many students who don't graduate may be worse off than if they never attended college at all. Now the question about what to do with the country's unimpressive and stagnating graduation rates is on the agenda; everything from the federal government to the Department of Education committee, all the way down to the individual college level. Former Princeton President, William Bowen has laid out an ambitious research agenda based on the question of what's going on with the college graduation rates? Now his idea is to take a look at doing deep, deep data analysis to see what it is about college students, why they're not graduating in greater numbers. Some of the solutions initially proposed earlier were to get students more involved in activities on campus, make aid more available, and just trying to get connected with a students. Prior to this particular study, a lot of work was done focusing on trying to get college students into college but not much work was done at keeping them there, how to keep them there, how to keep them moving along a path towards a degree. With the increased focus on financial aid, particularly with tight budgets, a lot of people are beginning to wonder if the aid is being spent as best as possible which in return means the largest number of students graduating as possible for the dollars.
One unintended consequence of this type of incentive program, to get colleges to graduate more students, is to get colleges to be more selective on who they think is likely to graduate. Which in some ways is good because it would raise the graduation rates but it may also deny access to students who might actually make it through but their profile would prohibit them. One other perspective on this that is not in the article is, and is important to address is education levels are a lot like a profession or hobby. There are a lot of people who are more than content to dabble in stuff. So they'll dabble in knitting, or they'll dabble in sewing, or they'll dabble in martial arts or whatever. A few of that group will go on to become proficient or become practitioners of that art or craft or hobby or in this case of education. So, everyone kind of goes through grade school and a good chunk of that group comes to high school where they become proficient practitioners of education, presumably, of being able to learn. A group beyond that goes on to college and here is where you have the master practitioners; the people who are developing acumen in specific fields. Not everyone is going to get to that. Not everyone gets to black belt in the martial arts. People kind of fall by the wayside along the way and that's okay as long as it's understood that that's going to happen. Then to take that analogy a little further, very few of those people who go to college and earn a bachelors degree or a four-year degree goes on to postgraduate degrees, postgraduate studies. And an even tinier group finishes up with a postgraduate or highest terminal degree or goes on for additional degrees or things like that. When you get to those senior masters, which may be in medicine or dentistry or law, it's important to realize there are going to be washouts along the way. To assume and to try and force more people to reach that master practitioner level when they may not necessarily want to could also be counterproductive. It's something to think about it may not necessarily be an orthodox way of thinking but it certainly is worth considering. So that is the news for this morning. Relatively quiet otherwise.
Let's kick off a shorter day with a little bit of relaxation. Let's do I Do by Rob Costlow.
I do by Rob Costlow from the Podsafe Music Network. I love that song I can listen to it all day sometimes I do. Alright let's do a quick scholarship update today. The Washington University in St. Louis, Honorary Scholars Program in Arts and Science. The Honorary Scholars Program awards which are 12 full tuition scholarships with a $1000 stipend so this is a huge, huge program; full tuition scholarships plus $1000 stipend for education expenses and additional half tuition scholarships, up to 24, are awarded to Honorary Scholars Program applicants. Renewable annually, Honorary Scholars Program applicants may apply for one of only four scholarships: the Compton, Mylonis, or Moog. These are in programs like Friends of Music, writing, biology, biomedical research, entrepreneurial, and so on and so forth. There are a ton of different scholarships. To apply go to the Washington University in St. Louis website, the admissions section, and there is an application there. Or you can find the application link on our website www.studentscholarshipsearch.com. We will put a link in the show notes to it. There are on-campus interviews for finalists. The eligibility: high school students that display outstanding academic records, rank high in their classes, and score in the upper ranges on the SAT and/or ACT as part of their admissions to Washington University. A faculty committee will conduct personal interviews with the finalists for these scholarships. To remain eligible for the scholarship, finalists will need to come to the Washington University on April 6-9, 2006 for the interview and related activities. The university will pay all expenses for the finalists during these four days. Again you can find a link to this in our show notes and you'll find it out at www.studentscholarships.com. Again this is the Washington University in St. Louis Honorary Scholars Program in Arts and Science. Full tuition scholarships are today's scholarship update.
Alright folks let's tie up the shorter show for today with another piece of Podsafe music. Allison Crowe called Midnight. We heard from Allison last when she was doing Christmas music on our Christmas music show on Saturday so let's do a piece of her regular music. This one is titled midnight from the Podsafe Music Network.
Midnight from Allison Crowe via the Podsafe Music Network. That is going to do it for today's shorter show. I hope you enjoyed it I hope you found it useful. Feedback at financial aid podcast@Gmail.com is more than welcome. Our show notes will be at the www.financialaidpodcast.com. Reminders, tomorrow of course is the holiday music show. Friday will be the Showmo Promo show and we'll resume our regular broadcast on Monday. Another reminder, in eight more days we are giving away the iPod Nano with lanyard headphones or the one-time payment of $300 towards your student loan payment. So if you haven't applied for this competition please do so. You can do so by applying for any Student Loan Network loan product or for free at www.financialaidpodcast.com. Stay tuned stay subscribed. If you're not subscribed and you're listening to us on the website, please get subscribed that way you'll never miss anything, any good financial aid fun. Alright folks I'm out of here. I'm going to try and sneak out of the office a little early. So take care.