Ever since a 2009 law restricted the ability of credit card companies to push their wares on college students, the companies have substantially reined in their marketing to students -- but are targeting alumni instead, the Government Accountability Office said in a report released Tuesday.
The GAO report found a decline in the number and value of affinity card agreements, in which issuers use the institution's name or logo in exchange for payments. Several leading providers of credit cards said that they had ceased their marketing to students, and college officials interviewed by GAO agreed.
Robert Imhoff, president of Mid-Continent University, resigned Saturday amid reports that the Baptist institution in Kentucky is facing a severe financial crisis, WPSD News reported. At the same time, officials vowed to keep the university open. At least one trustee has suggested that the university may not be able to survive, and local colleges are looking at transfer options for those at Mid-Continent. Gale Hawkins, a trustee, shared this advice for students: "I just simply say, if it was my child or myself I would get the most current transcript I could get from the office today."
The Corcoran College of Art + Design would become part of George Washington University under a plan announced Wednesday. The college and the Corcoran Gallery of Art have struggled financially for some time, and the plan would also involve the National Gallery of Art taking control of the art museum. The announcement of the plan noted that details remain to be worked out. The new plan replaces one announced in April under which the Corcoran would have created an affiliation with the University of Maryland at College Park.
Marquette University announced Wednesday that 25 non-faculty employees are being told that their jobs are being eliminated, The Milwaukee Journal Sentinelreported. With other open positions not being replaced, the total number of jobs at the university is expected to drop by 105. University officials said that they were trying to minimize spending, and to minimize tuition increases.
Clark University, in Massachusetts, has dropped need-blind admissions, in which applicants are admitted regardless of their ability to pay, MassLive.com reported. Going ahead, the university will become "need-aware" at the end of its admissions process, meaning that once the financial aid budget has been spent, applicants who can afford to pay will be admitted. Officials said that they remained committed to admitting low-income students, but that the need-blind policy had forced Clark to make cuts in other parts of its budget, and was no longer sustainable.
Fund raisers at American colleges and schools estimate that giving to their institutions grew by 5.1 percent in 2013 in will grow by 5.2 percent this year, the Council for Advancement and Support of Education said its twice-year survey had found.
The figures for higher education alone were flipped, at 5.2 percent for 2013 and 5.1 percent for 2014. And public colleges and universities were more upbeat than their private college counterparts, estimating donations to their institutions at 5.7 percent and 5.6 percent, respectively, compared to 4.8 percent for both years for private colleges.
Long Beach City College is taking advantage of a new California law authorizing it to offer tiered tuition -- charging more in the winter and summer for some high demand courses. An article in The Los Angles Times finds that there are clearly students willing to pay more, in many cases because the regular, less expensive versions are full, semester after semester. At the same time, the article finds continued concerns about the idea of providing some access based on ability to pay more. "It creates two types of students: those who can pay and those who cannot. And it's unfair to the students who have to feed families and are unemployed," said Andrea Donado, student representative on the Long Beach Community College District board.
Virginia Intermont College and Webber International University on Friday announced plans to merge. Virginia Intermont, a liberal arts college, has been struggling with enrollment. Webber, located in Florida, has focused on business education and online programs.
A survey by Fidelity of parents who are already saving for college for their children found that 60 percent have a goal of saving more in 2014 than they did in 2013. Including those parents, 88 percent said that they plan to save at least as much as they did in 2013. Of the majority of such parents who have a specific target for savings, the average is $405 per month.