Tuesday, October 26News That Matters

Tag: Colleges and Universities

529 Savings Plan: Why Every Penny Counts

Business
Feeling unprepared after high school, Ms. Tiller struggled in community college and ultimately dropped out. “I know life is hard,” she said, “and I don’t want to see them struggle like I have to.”Child savings accounts were conceived 30 years ago by Michael Sherraden, founder of the Center for Social Development at Washington University in St. Louis, who proposed creating accounts for all children at birth. Since 2007, he has been the lead investigator in an experiment tracking 2,700 newborns in Oklahoma randomly assigned to two groups: Half received $1,000 accounts at birth; the other received nothing. Many programs draw on the center’s research, which has found that the accounts raise both the parents’ and child’s expectations about the child’s future.Thus far, the biggest beneficiaries ...
Robinhood Hits College Campuses, Where Credit Card Companies Fear to Tread

Robinhood Hits College Campuses, Where Credit Card Companies Fear to Tread

Business
Robinhood, the free stock-trading app with 21 million active users and counting, is about to hit the road for a college coffeehouse tour to drum up new customers.Now where have we heard this one before? Ah, yes, the credit card industry.The campus antics that the card companies got up to two decades ago were so egregious that they helped lead to a 2009 federal law that made it harder for anyone under 21 to get their products in the first place.There are some important differences. Credit card issuers can put marks on your record that can keep you from qualifying for an apartment or other services years later. Robinhood is handing out a mere $15 to give each student a taste of investing.But here’s what they have in common: Both products are habit-forming, and if you get in over your head, t...

He Taught Ancient Texts at Oxford. Now He Is Accused of Stealing Some.

LifeStyle
He had impeccable credentials. No one disputes that.Dirk Obbink was an esteemed lecturer at the University of Oxford. He had received a MacArthur Foundation grant in 2001 for his work with papyrus, and held a prominent post helping to run the Oxyrhynchus Papyri — the world’s largest collection of ancient papyri, held by the Egypt Exploration Society and housed at Oxford’s Sackler Library.So roughly a decade ago when the craft shop chain Hobby Lobby began to build a collection of ancient artifacts related to the Bible, it made sense to touch base with Obbink.Hobby Lobby’s president, Steve Green, was leading an effort to create a national museum that focused on the Bible. So between 2010 and 2013, the chain says it paid about $7 million dollars to Obbink for seven batches of antiquities incl...
FAFSA Changes Are Coming. Here’s What You Need to Know.

FAFSA Changes Are Coming. Here’s What You Need to Know.

Business
(While there has not been a draft since 1973, men ages 18 to 25 are still required by federal law to register. But FAFSA applicants will now remain eligible for financial aid even if they have not registered, said Mark Kantrowitz, a financial-aid expert.)The FAFSA collects financial details about students and their families and acts as a portal to grants, scholarships and loans for higher education. Last year, Congress approved changes to the form and the financial aid process, trimming the number of questions by about two-thirds and tweaking its underlying formula for determining who receives aid.The approved changes include replacing the so-called “expected family contribution,” which applicants found confusing. Instead, a “student aid index” will be used as a guideline for the level of ...
Can the NCAA Be Saved? A Former Pentagon Chief Will Try

Can the NCAA Be Saved? A Former Pentagon Chief Will Try

Sports
“I think that if we do not succeed in this effort to bring significant change to the association, that it will spell real trouble for the organization because it would demonstrate what a lot of people think, which is that it is incapable of reforming and changing itself,” Gates said.The Supreme Court unanimously ruled against the N.C.A.A. in an antitrust case this summer, a signal event for many college sports officials, but Gates worried about the association’s future long before that decision. When he was president of Texas A&M, he considered the N.C.A.A. proficient at organizing championship events and maintaining national eligibility standards for athletes, but he also saw a rule book that he likened to the tax code, “a stultifying bureaucracy and an organization that found it very...
Harvard Says It Will Not Invest in Fossil Fuels

Harvard Says It Will Not Invest in Fossil Fuels

Technology, World
Harvard University has announced that it “does not intend” to make any future investments in fossil fuels, and is winding down its legacy investments because, the university’s president, Lawrence S. Bacow, said in an email to the Harvard community, “climate change is the most consequential threat facing humanity.”The announcement, sent out on Thursday, is a major victory for the climate change movement, given Harvard’s $42 billion endowment and prestigious reputation, and a striking change in tone for the school, which has resisted putting its full weight behind such a declaration during years of lobbying by student, faculty and alumni activists.Since last year, the activism has succeeded in getting four pro-divestment candidates elected to Harvard’s Board of Overseers, the first candidate...
$10 Billion in Student Loan Debt Erased Under Biden, but Calls Grow for More

$10 Billion in Student Loan Debt Erased Under Biden, but Calls Grow for More

Business
Finally, on Tuesday, an email arrived saying she had receive a 100 percent discharge.“I cried,” said Ms. King, who hopes she can now afford computer classes at her local community college.The department appeared to have notified thousands of people about their loan relief on Tuesday, Mr. Gokey said. But confusion remains: Multiple people received notifications with inaccurate information. One borrower who attended ITT, for example, got a letter saying his loans for studying at the Marinello School of Beauty would be eliminated.The push for widespread debt cancellation has overshadowed calls to mend these and other glaring administrative problems that urgently need to be addressed, advocates say — ideally before January, when borrowers will start getting bills again.“The next few weeks and ...
‘Reversing Gears’: China Increasingly Rejects English, and the World

‘Reversing Gears’: China Increasingly Rejects English, and the World

Business
As a student at Peking University law school in 1978, Li Keqiang kept both pockets of his jacket stuffed with handwritten paper slips. An English word was written on one side, a former classmate recalled, and the matching Chinese version was written on the other.Mr. Li, now China’s premier, was part of China’s English-learning craze. A magazine called Learning English sold half a million subscriptions that year. In 1982, about 10 million Chinese households — almost equivalent to Chinese TV ownership at the time — watched “Follow Me,” a BBC English-learning program with lines like: “What’s your name?” “My name is Jane.”It’s hard to exaggerate the role English has played in changing China’s social, cultural, economic and political landscape. English is almost synonymous with China’s reform a...
Nick Saban Answers Questions on Football and College Sports

Nick Saban Answers Questions on Football and College Sports

Sports
In college, we revenue produce. We have 21 sports — I don’t know how many hundreds of student-athletes we have on scholarship — and most of those sports create no revenue. But the sports that create revenue make it possible for all of those sports to exist. We reinvest all the resources, all the income, we reinvest in the programs.I hear people say all the time, “Well, you make a lot of money.” Yeah, but I create a lot of value.There’s more money to reinvest because the revenue sports do very, very well, so that helps all of the other sports and all of the other opportunities that are created for all of the other sports. So when it comes to name, image and likeness, I’ve got no problem with that.You know, players have always been allowed to work. They could have a summer job, they could ma...
Stanley Aronowitz, Labor Scholar and Activist, Dies at 88

Stanley Aronowitz, Labor Scholar and Activist, Dies at 88

Business
Stanley Aronowitz, a blue-collar organizer, university professor and prolific author who argued that electoral politics had failed American labor and that unions needed to adopt militant strategies to pursue a broad social agenda, died on Monday at his home in Manhattan. He was 88.The cause was complications of a stroke, his daughter Kim O’Connell said.Professor Aronowitz, a social theorist who taught at the City University of New York’s Graduate Center, called himself a “working-class intellectual.” He maintained that direct action was a more potent weapon for workers than collective bargaining or conventional politics.“We’ve been relying for so long on politicians to solve problems,” he told the magazine In These Times in 2014, “that the union membership no longer really relies on its ow...