Month: March 2014

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College or Retirement?

by Mike Acciavatti

A recent article in U.S. News contained some disconcerting news:  college costs cause some people to choose retirement over an education for their children. The main problem is that parents do not want their children to be saddled with debut upon graduation due to the rising costs of higher education.  The article stipulates however that no matter how appealing a suggestion this may be parents SHOULD NOT risk their retirement future on college for their children.

The author states that the best strategy for dealing with college costs is to start saving early in a child’s life. The author states that simply putting the money away in a savings account is not necessarily the best option because it does not earn interest, causing it to not keep pace with rising inflation and rising costs of college.  Rather, the best way to save is to look at your state’s and school’s 529 or other savings plans.  By taking advantage of these programs the cost of college can be considerably less intimidating.

Every parent wants to give their child the best, and some would risk their own well being in retirement to ensure that. However, saving and investing, combined with scholarship and merit based financial aid, will ensure that both parents and children will have a safe financial future.

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College Cost: A Universal Issue

by Patrick Lamarra

For those of you that enjoy the musical stylings in Les Miserables as much as I do, there is quote sung by Enjolras during the revolution that can help to inspire hope into our noble cause of lowering the college cost for Middle Income Families.  In the hope to inspire his men, Enjolras sings “We are not alone, the people too most rise.”  This quote can serve in a way to reflect what must be done by college students in regards to college cost.  CSCubed is not the only group that wants to challenge the rising college cost in America.  Students from Babson College, Emmanuel College, Merrimack College, and Newbury College all went to the Massachusetts’ State House the other day in order to lobby for more funding towards the ever growing college cost.  Students there were lobbying for $9 to $10 million to be added on to the state’s financial aid budget.  This stand by the students in Massachusetts offers a similar situation done by the students involved with CSCubed.  The push towards helping Middle Income families afford college is ever evident in modern day America.  If college students can band together and lobby for reforms in the area, much can be done about college cost.  But, the people most join together.  To learn more about the Massachusetts’ student led lobbying efforts click on the link below.

http://www.lowellsun.com/breakingnews/ci_25222858/students-appeal-help-college-costs?source=rss

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Rise in Higher Education Costs Outpace Other Expenditures

by Philip Wubbolt

Higher education costs have been rising for years and compared to how the prices of other goods have risen, there is a significant difference in how much those prices had risen.  From 1985 until now, the costs for higher education had risen in excess of 500%.  Compared to other goods and services, this is absolutely significant.  Medical costs have risen in excess of 280% and 120% in the consumer price index.  This rise in higher education costs, further exacerbates the problem of the inequality and income gaps.  If a family is unable to pay for college, this can inhibit that child’s ability to further his education and have a higher paying job.  This then has a compounding effect  on further and later generations.  There are efforts from politicians to lower or slow the rising costs for education, however these efforts have not made much of a difference.  The question now is, are students and kids getting what they paid for?  Are the jobs kids are receiving after college, making up for the significant prices?

See: College Costs Surge 500% in U.S. Since 1985: Chart of the Day

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Ready to Succeed Scholarships in PA

Increasing grants to middle income families has  been the primary legislative priority of CSCubed over the last two years. We have supported the Middle Income Student Debt Reduction Act that would dedicate $36 million a year to create a new PHEAA program for middle class families.

We’re pleased to also support Governor Corbett’s Ready to Succeed Scholarships that fund a similar program, albeit with less money – $25 million per year.

Please take the time to find your legislator and ask them to support more funding for middle income college grants!