Dr. Drew Faust, president of Harvard University, recently acknowledged students and parents deserve some assurance a college degree can and will translate into a job after graduation.
Faust made her comments on a recent broadcast of The Charlie Rose Show while also endorsing the need for a liberal arts education.
From a practical and strategic enrollment management perspective, the time has long passed when staff from the career counseling office should be included when universities develop enrollment management plans.
Parents and students want to know what jobs your graduates get after they leave your school. That information should come at the beginning, not the end, of your marketing and recruitment planning for next year and can be used to improve your application and yield statistics.
Here are ten practical suggestions and questions:
When enrollment management plans are written for the 2014-15 admission year, be certain the career counseling staff is included in the strategic plans.
Is there a four, three, two or one-year career counseling plan that assists students by raising awareness of the constructive steps they can take to better position themselves at graduation to get a job.
Do career counselors speak to prospective students and parents?
Is career counseling information in a format that can be sent to guidance counselors, transfer counselors, parents and students? Is it on your website and printed publications? Do all of your admission and transfer counselors have this information?
Do you include career counseling and employment information as part of your on-campus information sessions?
Do you have the statistics of your school’s job placement from last year’s graduating class? Do you have this information by major?
Do you have typical starting salaries for graduates?
Do you have a list of job titles and companies of graduates?
Do you have quotes from U.S. and international alumni that can be used in marketing to future students?
Do alumni speak at accepted student receptions?
Can you compare your career counseling program and post-graduation statistics with your competitor schools?
This is the beginning of an entirely new way to reach future students and their parents with meaningful information.
Never eliminate a school because of the published costs. Few families pay the full amount and as you can read in this blog, there is a great deal of money, from federal, state, institutional and private sources, that can assist you in funding your education.
International students should find out, before they enroll, all of the financial aid available at each of the schools on their lists.
The unemployment rate for college graduates last year was 3.9%, compared with a 7.5% unemployment rate for the work force as a whole. Among all segments of workers sorted by educational attainment, college graduates are the only group that has more people employed today than when the recession started.
The number of college-educated workers has increased by 9.1% since the beginning of the recession.
Employment for students who have some college credits, but not a degree, decreased since the beginning of the recession.
In 2012, the typical full-time worker with an undergraduate degree earned 79% more than a high school graduate. Thirty years earlier the percentage was 48%.
As of April 2011, about 32% of Americans had a college degree. Twenty years ago this statistic was 22%.
According to an analysis from the Hamilton Project at the Brookings Institute in Washington, the benefits of a college education was equivalent to an investment that returns 15.2 % a year.
The media has focused on the minority of college graduates who are surfing the web looking for work, living in their parents’ basements and working in jobs that a short while ago, did not require a college degree. All that may be true for some graduates. It’s not true for all.
In next week’s blog you will read about the marriage of enrollment managers with career counselors to achieve enrollment success.
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Once your family has filed aFAFSA and the EFC has been calculated, the staff of the financial aid office will determine what financial aid you are eligible to receive.
The official form letter you receive will list the type and amount of the aid you will receive. That includes funding from:
Outside organization or private funding sources.
Examples of What Your Financial Aid Package Will Include:
The largest federal grant program is thePell Grant Program. Awards range from $600 to $5,500.
Most colleges and universities, especially private schools, have their own grant programs and awards are usually based on outstanding high school grades. Individual states also sponsor grant programs. Check your state’s website for further information.
One popular federal loan program is thePerkins Loan Program. The current interest rate is 5% and the maximum amount is $5,500 per year.
Stafford loans are federally subsidized loans and have an interest rate of 3.4%.
Freshmen can receive $3,500, sophomores $4,500 and juniors and seniors $5,500 to meet their educational expenses.