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JerseySmarts.com

The Cost of Higher Education Continues to Skyrocket

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On Wednesday, the New York Times ran an article entitled, “College May Become Unaffordable for Most in U.S.” The author, Tamar Lewin, did an excellent job of wrapping up a multitude of issues into a concise presentation. Most of today’s junior and senior high school students (and, in some cases, their families) are facing a tough battle to finance a college education.

The economy is now officially in a recession, better compensated job prospects for parents are bleak, and the private lenders who offer student loans generally fall into one of two categories: part of the larger kickback scandal or no longer making student loans available. The federal Direct Loan service is still a viable option for most college students and college prospects. Yet as the sources of private student loan financing are drying up, the cost of a college education is increasing. Lewin writes:

Over all, the report found, published college tuition and fees increased 439 percent from 1982 to 2007, adjusted for inflation, while median family income rose 147 percent. Student borrowing has more than doubled in the last decade, and students from lower-income families, on average, get smaller grants from the colleges they attend than students from more affluent families.

That’s a scary number, huh? Tuition and fees have jumped 439% in a matter of twenty-five years while incomes have only grown by 147%. Those who research the student loan industry as well as the affordability of higher education have got to be giving a double take to those numbers. That’s frightening. More from the New York Times article:

Among the poorest families — those with incomes in the lowest 20 percent — the net cost of a year at a public university was 55 percent of median income, up from 39 percent in 1999-2000. At community colleges, long seen as a safety net, that cost was 49 percent of the poorest families’ median income last year, up from 40 percent in 1999-2000.

Even the community college option is becoming more and more out of reach for the poorest families. What incentive does an elementary school student or a high school student in a troubled school district have to achieve greater success if they can’t even afford to continue their education at the community college level?

In New Jersey, we have the New Jersey Student Tuition Assistance Reward Scholarship (NJ STARS) program. The NJ STARS program, more or less, provides a vehicle for high-achieving high school students to attend the local community college for free. If their grades are acceptable while in the program, they can receive a stipend to finish their education at a 4-year institution. It’s a good deal if you think about it. If the program existed when I was graduating high school and moving on to college, I would have jumped on it immediately. That assumes, of course, that I would have known about the program and that I had the benefit of my current hindsight.

If you have the opportunity I suggest taking a few minutes to read the article linked above. In fact, share it with any college-aged people in your family and if you live in New Jersey, be sure to bring the NJ STARS program into the discussion with your high school-aged family members.

Take Passion and Pride in Your Work

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One thing that drives me crazy is when a worker takes no passion or pride in their profession. Before I get going I should say that if you are an employee who is in a job just to make some money for a fixed period of time, then this blog post doesn’t really apply to you. I’m referring to the professional worker – the person who is in their chosen career whether that career is white collar or blue collar, high paying or low paying, sitting behind a desk or working in a field. This post is about the career man or woman.

Is there anything more pathetic than a person who just “exists” in their job and does nothing to make their company or employer better at the end of the day than when they arrived in the morning? People should have a ferocious passion for what they do everyday. They should attack their job on a daily basis. Career workers should grab each day by its neck and make that day their own!

I believe that I think this way because I come from a family of hard workers. My Father was a dedicated and committed employee even up until a few months prior to when he passed away. He was a loyal employee during his active working years and he was a trusted hand during his retirement years. My Mother is the same way. She works for a local Township and because of her efforts since assuming her department’s management role, the department has become more efficient than it has been in years. She makes her department better each day than it was when she showed up in the morning. My brothers and I are on the same track. My older brother has worked his way to a front end manager (when needed) at his restaurant and he’s one of the Owner’s trusted confidants. Plus, he’s been working diligently at this various jobs for the last decade – even becoming the number one cell phone salesman for the now-defunct “The Wiz.” And my younger brother is so committed to working that the kid held TWO jobs while taking college courses last semester! In my family there is a ferocious commitment to working and making our employers better before we go home for the day.

For what it’s worth I see these types of passionate employees all around me. My roommates, my friends, most of my coworkers, etc. I know people who have to be at the office between 7am and 7:30am and who generally leave the office between 6:30pm and 7pm; and these people do this on a daily basis and excel in their positions because they attack their jobs and their various daily tasks. They make their employers better.

Sure, everyone has an off day here and there. And yes everyone “slacks” from time to time. But anyone can tell the difference between an employee who wants to make a difference and the employee who is there to collect a check. Think about the last time you called your cell phone company or cable company’s customer service hotline. How many of you encountered someone who thought outside of the box to solve your problem? How many of you got someone on the phone who didn’t need to transfer you because they were going to take the initiative to solve your problem in the best interests of every party involved? Very few of you, I’m sure.

In an economy like this it becomes blatantly apparent when you’re dealing with an employee who just wants to get his or her check at the end of the week. I recently asked a vendor that I’ve been working with to make a business inquiry to a third party on my behalf. Three days (and multiple opportunities to make the inquiry) later, my vendor not only had not asked the question on my behalf (which, remember, he is being paid to do), but he actually assumed what the third party’s answer would be! What the hell is this?! Without going into too much detail, the “assumed” answer from my vendor could have only been reached if he didn’t take a ferocious stance in favor of his client (me).

Talk about taking no pride in one’s work! This vendor is being paid by me to represent me to the third party! F’ing stand up and represent my best interests, damn it! This is a blatant example of someone who doesn’t have a ferocious commitment to their client. This is an example of someone who is concerned about making their quota for the week/month. This is an example of someone who wants to generate revenue at anyone’s expense – even his client’s! This is also an example of someone who has lost my future business.

The moral of the story is that you should be proud of your work. If you hate your job, then find a new one. It might take some time in this market, but start looking today. You should be passionate about what you do; at the very least you should know at the end of the day you’ve accomplished all that you can accomplish to the highest degree of excellence that you are capable. Attack your work. Be ferocious. Excel.