Connect with us

Student Loans

15 reasons to ignore U.S. News & World Report’s college rankings

Published

on

Most  college-bound teenagers and their parents never look at U.S. News and World Report’s college rankings, which is actually a healthy thing.

U.S. News’ college rankings, are much more likely to be a preoccupation of teenagers and parents in affluent households.  I believe the fixation with the rankings is a major reason for the tremendous stress and mental health issues that too many of these students experience.

It’s my hope that students and parents won’t put so much faith in them when they know more about these destructive college rankings work.

15 things to know about US. News & World Report’s College Rankings

1. U.S. News relies on rankings to stay alive.

U.S. News’ college rankings wields tremendous power even though the rankings giant is a shell of its former self. Many years ago, U.S. News couldn’t attract enough subscribers to keep the magazine going.

To survive, U.S. News issues junk rankings for all sorts of stuff including such things as hospitals, new and used cars, diets, nursing homes, high schools, law firms, jobs, real estate agents, vacations, cruises and health insurers! It’s all garbage. U.S. News' College Rankings

2. U.S. News’ college rankings have encouraged institutional bad behavior.

U.S. News’ college ranking system is one of the chief culprits for escalating college prices and encouraging harmful admission practices.

Millions of students have been adversely impacted by the rankings competition because of the actions of the audience that cares most deeply about the numbers – college presidents and their boards of trustees, and by extension, their admission offices.

For these folks, US News has provided them with an easy (though deeply flawed) scorecard to measure how their institutions are faring and they are distraught if their school’s ranking stalls out, or worse, drops.

3. The college rankings formula can be gamed.

Plenty of universities have figured out how to crack the code to climb up the rankings ladder.Northeastern University college ranking

Northeastern University is one of the schools that focused single-mindedly on improving their rankings. Two decades ago, Northeastern was considered an third-tier, blue-collar commuter school stuck with an unattractive campus.

But then a new college president took over and focused single mindedly on  saving the institution by doing whatever was possible to boost its U.S. News ranking.

Six years ago, Boston Magazine explored this Cinderella tale and quoted the Northeastern president as saying, “There’s no question that the system invites gaming.”

U.S. News ranks Northeastern, which is now an extremely popular destination, as No. 40 in the coveted national university category. It is tied with such institutions as Tulane and College of William and Mary. A couple of decades ago it was ranked No. 162 and it was rare for anyone outside of Boston to have heard of it.

George Washington University was another struggling commuter school that successfully cracked the U.S. News college rankings code and began George Washington University's college rankingattracting affluent students who could pay higher prices for a bachelor’s degree and, in turn, attract even more high-income teenagers.

Here is an article from Washington Monthly about how ranking manipulation catapulted GWU in the rankings. It’s now ranked No. 70 in the national university category.

4. Popularity is a big ratings factor.

A school’s reputation among the right people will significantly impact it’s U.S. News ranking.

In annual surveys, three administrators from the offices of president, provost and admission at each school in the national university category, for instance, must assess what they think about all their peers on a one-to-five grading scale. (One is marginal and five is distinguished.)

Here, however, is the dilemma:

What do administrators at UCLA, Johns Hopkins, University of Tulsa and Kansas State know about what’s going on at Brandeis, Case Western Reserve, Virginia Tech and University of Missouri (my alma mater), much less 300 other schools in the national university category?

Or how about schools in the liberal arts college category that have far less name recognition. What do administrators at my son and daughter’s alma mater – Beloit and Juniata colleges – know about the academic quality at say, Pitzer, Hendrix, Spelman and Middlebury colleges?

Rating peers on one-to-five scale is an absurd exercise that administrators should refuse to do and most actually decline to participate in this rankings beauty contest exercise. According to U.S. News, only 43% of academics responded to the reputational surveys distributed in 2018-2019.

5. U.S. News measures six-year graduation rates.

I don’t know any parents who thinks that graduating from college in six years is acceptable. U.S. News, however, uses six-year rates when evaluating schools. Another head scratcher.

6. Rankings encourage colleges to favor affluent students.

US News awards schools which generate higher test scores and grade point averages for their incoming freshmen class, which favors rich students.

This focus on selectivity has been a boon for affluent high school students, who tend to enjoy better academic profiles. These teens can afford expensive test-prep courses and are more likely to have attended schools with stronger academic offerings. There is a strong positive correlation between standardized test scores and family income.

Attracting richer students allows the school to boost their sticker prices without alienating too many potential customers.

7. Rankings encourage the use of merit scholarships.

Before the rankings became so prominent, high-income students typically had to pay full price for college. The majority of grants were reserved for middle-class and low-income students, who required financial help.

But with the rankings premium linked to top students, private and public institutions began offering merit scholarships to entice smart, wealthy students to their campuses rather than to their competitors.

How do you cough up the money for these deal sweeteners?

One way is to raise the tuition price to generate extra revenue for these scholarships and another way is to reduce the financial aid to needy students. Low and middle-income students are the big losers in the rankings game.

8. Elite schools are the exception to merit awards.

The only schools that don’t offer merit scholarships to rich students are the institutions that are perched at the top of U.S. News’ college rankings.

Wealthy parents whose children get into the top-rated schools in U.S. News’ national university and liberal arts colleges categories, such as Stanford, Harvard, Princeton and Williams, will pay roughly $300,000 for a SINGLE bachelor’s degree, but they won’t do it for other schools.

The most elite schools boast that they reserve their aid to the families who need financial help to attend college, but most of these institutions offer admissions to a shamefully low percentage of needy students. The most elite schools primarily educate wealthy students.

9. Rankings encourage admission tricks.

For instance, US News’ algorithm favors schools that spurn more students. To increase their rejection rates, schools will court students through marketing materials and social media that they have no intention of accepting.

Here’s another trick: some institutions make it easy for students to apply via streamlined online applications, which are referred to in the industry as “fast apps.” Schools use this strategy to increase the size of their student body, as well as bump up their rejection rates.

10. Rankings don’t measure what’s important.

One of the perverse aspects about the rankings is that turning out thoughtful, articulate young men and women, who can write cogently and think critically won’t budge a school’s ranking up even one spot. Curiously enough, U.S. News doesn’t even attempt to measure the type of learning going on at schools.

In reality, the methodology fueling the rankings are a collection of subjective measurements that students and families are supposed to rely upon to pinpoint the schools doing the best job of educating undergraduates. U.S. News relies on proxies for educational quality, but these proxies are dubious at best.

11. Rankings encourage cheating.

Rankings have become such a high-stakes game that some schools send false data or have acted unethically. And I suspect that most of the schools that are manipulating their figures have never been caught. Those that have been outed in past years include Claremont McKenna, U.S. Naval Academy, Baylor University, Emory University.

12. Rankings encourage debt.

This is incredibly infuriating –  the rankings giant ignores how much college debt students are incurring. It’s a terrible omission that is certainly one reason why college tuition continues to defy inflation.

US News rewards schools that spend freely and the rankings juggernaut doesn’t care if that requires universities to boost their prices and graduate students with staggering debt.

Here is an old post -that I wrote about this phenomenon for my previous college blog at CBS Moneywatch: 

Blaming College Rankings for Runaway College Costs

Malcolm Gladwell wrote a fascinating article for The New Yorker in 2011 on college rankings in which he talked about the incentive of institutions to turn their campuses into lavish palaces and stick the bill with the kids:

13. Don’t believe the numbers.

You should not believe that a college ranked No. 1 or 19th or 73rd is better than peers ranked 6th or 42nd or 95th best. I’ve seen too many parents make terrible financial sacrifices to send their kids to rankings darlings when it was completely unnecessary.

The school that you attend isn’t as important as what a student does wherever he or she lands. I wrote a post about my daughter six years ago that illustrates this fact.

14. Use U.S. News as a tip sheet.

Rather than focus on the numbers, consider using U.S. News rankings to generate ideas. This will be particularly helpful in searching for promising schools beyond the national university category, which includes nearly all of the nation’s best-known universities.

Try looking for ideas in U.S. News’ regional universities and liberal arts college categories and then start researching them.

15. U.S. News  is here to stay.

A few years ago, Brian Kelly, the U.S. News editor made this promise during an press interview:  “You can love us or hate us, but we’re not going away.”

Sadly, I think that is true, but using rankings responsibly can lessen the tremendous emotional and financial damage that they cause.

The post 15 reasons to ignore U.S. News & World Report’s college rankings appeared first on The College Solution.

——————

By: Lynn O’Shaughnessy
Title: 15 reasons to ignore U.S. News & World Report’s college rankings
Sourced From: www.thecollegesolution.com/15-reasons-to-ignore-u-s-news-world-reports-college-rankings/
Published Date: Wed, 24 Jun 2020 17:33:36 +0000

Did you miss our previous article…
https://getinvestmentadvise.com/student-loans/when-to-send-test-scores-to-test-optional-colleges/

Continue Reading
Advertisement Attention Stock Investors

Student Loans

I SOLD A.I. ART ON ETSY FOR 30 DAYS! – A.I SIDE HUSTLE RESULTS

Published

on

Continue Reading

Student Loans

Apply Online For Student Loans

Published

on

Apply Online For Student Loans

Applying online for student loans is a convenient and efficient way to secure funding for your education. Whether you are facing financial difficulties or simply want to keep your debts to a minimum, student loans can help alleviate the financial burden while you focus on your studies.

One of the main advantages of student loans is that they typically offer lower interest rates compared to other types of loans. Additionally, repayment is often deferred until after you graduate, giving you time to establish your career and increase your income potential.

By applying online, you have access to a wider range of lenders, allowing you to compare different loan offers and choose the one that best suits your needs. Look for lenders offering competitive interest rates, flexible repayment terms, and any additional incentives that may be available.

Student loans can be used to cover various expenses related to your education, including tuition fees, housing, course materials, and living expenses. While your personal bank may be willing to provide a student loan, applying online gives you more options and potentially better terms.

However, it’s important to remember that student loans are still loans, and you should borrow responsibly. It’s advisable to budget regularly and avoid unnecessary purchases or luxuries to ensure you can manage your loan repayments in the future.

Before applying for student loans, explore other options such as scholarships, grants, or parental funding. These resources can help reduce the amount you need to borrow and minimize your financial obligations.

Lastly, it’s crucial to have confidence in your ability to secure a salary that will enable you to meet your loan repayments after graduation. Work hard to achieve the grades and qualifications necessary for your desired career, as this will increase your chances of finding a well-paying job.

In conclusion, applying online for student loans can provide you with the financial support needed to pursue your education. However, it’s important to borrow responsibly, explore other funding options, and plan for a successful career to ensure you can manage your loan repayments effectively.

Continue Reading

Student Loans

Webinar Recap: How COVID-19 is Affecting Financial Aid

Published

on

Many families are facing new financial challenges in light of the coronavirus emergency, and College Confidential has fielded dozens of questions on this topic recently. To address those queries, we hosted a webinar on April 9 entitled “Paying for College Amid Changes Due to the Impact of COVID-19.”


During the event, moderated by Aaron Murphy, manager of learning and development with Inside Track, the following panelists offered their perspectives on the issue:

  • Denise Trusty, director of financial aid with Morehead State University
  • Laura Reisert Kalinkewicz, associate vice president of college partnerships with RaiseMe
  • Amy Nelson, director of sales at International Scholarship and Tuition Services
  • Charlie Javice, founder and CEO of Frank.

Check out the following topics that the panelists discussed, along with their views of how things may unfold amid the financial challenges brought on by the coronavirus outbreak.

Family Finances Changed? Contact Your Schools

If you plan to start college in the fall as a freshman — or return to school as an existing student — and your financial situation has changed since you applied for financial aid, you should contact the colleges on your list immediately. Financial aid departments can consider appeals for more money, but must base these decisions on each individual student’s situation, Trusty said.

“I know with Morehead State, where I work, we will be doing professional judgement calls on all students who say they’ve been affected,” she noted. “We will reach out to those students to see what we can do to help them maybe obtain additional funding, additional grants, scholarships, whatever they would be eligible for. We do professional judgment all the time for our students, because things happen all the time. This year will be an especially large amount of those, I’m sure, but those are up to individual schools to make that call for their students.”

In addition, she added, the Department of Education has set aside over $6 billion for additional grants and scholarships that the universities will be able to use. “Currently, I don’t know how that’s all going to play into this,” Trusty said. “So that will be up to each individual university on how they lay those out. I know it will be beneficial, I just don’t know how available that will be to each student.”

Keep in mind that schools are accustomed to reviewing financial aid appeals, and they all have processes in place for to do so. “It is really, really important to know that schools typically leave a budget from 10 percent to 20 percent or so of their financial aid dollars for what would be called a professional judgment bucket,”Javice said. “Therefore, there is additional money to be had, and it’s up to you to request it. You should approach your school as soon as you know you might need more money, and be prepared to show supporting documentation demonstrating how your finances are different from when you filed your FAFSA initially. This might require proof of a job loss, medical bills, a cut in pay or another such issue, Javice said.

In addition, if another school gave you a better financial offer, you can petition the school that gave you the lower offer for more money, Javice noted. “This typically works better for private institutions versus public state schools, given the fact that they have a little bit more discrepancy and more dollars to put to work in terms of a tuition discount,” she added. “This is solely up to the school on a case by case basis.” In some cases, the money is distributed on a first come, first serve timeline, so don’t wait if you know you need more aid.

Although financial aid can be a stressful topic, try not to be emotional when you request more money, Javice added. You’ll get a lot further by having organized documentation to present than you would by getting angry or upset, she noted.

Consider Outside Scholarships

The coronavirus situation has changed plans not only for incoming freshmen, but also for current college students, Nelson said. “Organizations are stepping up and trying to find ways to provide additional scholarship opportunities this year,” she noted. Students should be proactive in seeking those options.

Raise Me is offering new micro-scholarships for students who are seeking additional funding sources, Kalinkewicz said. In addition, she encourages students to ask colleges for more time to make decisions, even if the school hasn’t extended its deposit process. You can always try and request additional time to get your financial aid package right, she noted.

Finding more money is not relegated to younger students, Javice added. “Adult learners comprise the biggest group of people actually going to college today,” she noted. It’s very common for people to be seeking new types of skills and going back to college to gain additional degrees. Financial aid is available to adult learners, and they may even get aid to pay such costs as rent, she added. In addition, they can seek outside scholarships or employer-matching funds to pay for their educations.

Not Necessarily Too Late to File FAFSA

Students who didn’t file a FAFSA already should do that as soon as possible so you can get access to financial aid funds, Javice said. Federal FAFSA deadlines are usually in June, but states make their own deadlines for state aid. Some states, such as New Jersey, have moved their deadlines back for this year, so check to make sure you stay on top of your deadlines.

And if you file for financial aid and you decide you don’t want it, you can always decline the financial offer or portions of that offer, Nelson said. Your best bet is to apply so you can take what you need and decline any amounts you don’t need. Even if you don’t think you qualify for financial aid, you should apply anyway because you could be surprised at what you’re offered. “You really need to complete that [FAFSA] process every year,” Nelson said. “The process is very easy, and jobs can come and go. It’s your safety net and you want to make sure you’ve completed it. It makes it a whole lot easier when situations like this arise.”

Some colleges also have supplemental applications to fill out for particular types of aid, so always reach out to your financial aid office for information on which documentation you should be completing, Kalinkewicz said.

Could Families — Not Schools — Be in the Driver’s Seat?

Because many merit scholarships are based on test scores and GPAs, some high school juniors are concerned that they won’t have access to those in the coming year. With test dates being canceled and grades moving to pass/fail, they fear they won’t meet the criteria to earn such scholarships.

“It’s clear to me that colleges and universities know the extraordinary circumstances we’re under,” Nelson said. “All schools are leaning forward and considering all options as the situation develops. I would continue to encourage juniors to stay engaged and stay informed.” You should also watch to see what happens with test dates, she said. The ACT and SAT dates could change, and some schools may forego the need for a test score altogether, she added.

In addition, some merit scholarships that have traditionally been based on test scores may become test optional, Kalinkewicz noted.

Keep in mind that in many cases, families are in the driver’s seat rather than having the colleges be in charge, Javice said. Some schools have lost revenue and are very eager for students right now, “so if you are scared because you thought you could never get into a specific school from an admission criteria standpoint, this is your year to stretch, this is your year to think about the schools that are your reach category and go for it, because schools need the money and need the students. So the power that used to be in an admissions office is in you, the student or the family’s hands,” she said.

She also advises juniors to request application waivers from schools to save the $50 to $100 or so per application that they would normally pay. The schools may say no, but it won’t hurt to ask, she advised. “Persistence is key when dealing with schools,” Javice noted.

Federal Student Loans Payment Suspended

As many families are aware, payments on federal student loans are automatically suspended from March 13 through September 30, 2020 thanks to the government’s CARES Act. This is essential to keep in mind, particularly for families that have multiple children in various stages of the college process.

“You will stop paying your loans and you will have zero interest from now until September 30, and that’s important for parents to know,” Nelson said regarding existing federal student loans. “If you had an auto draft, the auto draft has been shut off and will not continue. You can, however, continue to make those payments if you’d like, and any interest you had before March 13, once that interest is paid up, all your payments will go directly toward your principal.” She advises families with federally-backed loans to check with their loan servicing agents, because they have a lot of information for both parent and student borrowers on how the CARES Act will impact payments for the next six months.

Student Job Gone? Colleges Might Help

For students who expect to earn money via part-time or full-time work to pay for college, but can’t do so due to the coronavirus, colleges may have resources to help. “There are many colleges and universities that have put together emergency grants for students to cover expenses that they were maybe not expecting because of COVID-19,” Nelson said. “They are making accommodations to try and make up for that lost income for students.”

Trusty said Morehead State is continuing to pay students who were on federal work-study. “If they had a job, we are still paying them right now as if they were working, although they are not. In the summer, those funds will be flipped over to emergency grant funds. So we will make sure that our students are covered and can live as if they were employed with the work-study position.”

Some colleges have even made remote work available to students, Kalinkewicz added. Therefore, contact your financial aid office to determine if any accommodations are available to make up for lost student income whenever possible.

Consider Other Options to Save

If you are seeking ways to save money on college, you should also consider other resources, whether that means less expensive colleges, in-state options or potentially transferring down the road, Janice said. You can also save money by taking classes at a community college to pay a lower cost for your credits that can be transferred to a four-year college later.

“If you have that target institution in mind — maybe you’ve already been admitted there but your family has determined a year of community college will really help stretch things further — work on articulation agreements or a plan so you are taking the right classes that actually have the ability to transfer toward the degree you want at your target institution, not necessarily just as credit,” Kalinkewicz said.

In addition, many colleges offer merit aid for transfer students, she added. So always look for every potential financial aid and scholarship resource to best maximize your package and allow your dollars to stretch as far as possible.

Resource: To review the entire hour-long webinar, you can watch the replay here.

Share Your Thoughts

We’d love to hear your thoughts on this topic. Check out our forum to contribute to the conversation!

By: Torrey Kim
Title: Webinar Recap: How COVID-19 is Affecting Financial Aid
Sourced From: insights.collegeconfidential.com/financial-aid-amid-covid-19
Published Date: Fri, 10 Apr 2020 15:22:20 +0000

Did you miss our previous article…
https://getinvestmentadvise.com/student-loans/former-georgetown-ao-demystifies-elite-admissions-in-new-book/

Continue Reading

Trending