Bargain-Hunting Students Swarm State Universities

It's a four year—or more—waste of time, author says

(NEWSER) - College is a must if you want to have a real career, right? Nope, it’s “a scam, a self-perpetuating Ponzi scheme that needs to stop right now,” writes James Altucher for DailyFinance.com . Here are his seven reasons you shouldn’t send your kids:

• It’ll cost more than you think: Thanks to the fact that more than 60% of college students will take more than 4 years to wear that cap and gown.
• It doesn’t matter, money-wise: Yes, the difference in income between a college grad and a non-grad is approximately $800,000 over a 45-year career. But if you invest the $200,000 likely college cost in bonds yielding 3%, over those 45 years plus the 4 spent in college, you’ll end up with $851,000.

Meltdown forces tough choice: present survival or future value?

(NEWSER) - Nonprofits reeling from the market meltdown's impact on their investments are pushing to be allowed to tap endowment funds, many of which are off-limits because they've lost value, reports the Wall Street Journal. At issue is the balance between surviving the current crisis and spending funds that can never be recovered. "There is a real danger that once you dip into principal you aren't going to get it back," says one expert. More»

Canadian universities appeal to Americans in tough economy

(NEWSER) - Cash-strapped Americans with their sights set on college see Canada as an affordable alternative to domestic institutions, the Boston Globe reports. Low tuition fees and a stronger US dollar—it’s worth $1.21 in Canada right now—are luring more high school students in the northeast across the border, with the number of Americans attending Canadian universities up by 50% to 9,000 since 2001. More»

Fears of high costs may be driving drop

(NEWSER) - Private colleges are receiving notably fewer regular applications this year, sparking widespread concern among the schools that enrollment will plunge, the New York Times reports. Reasons for the drop may include families’ worries about soaring tuition and a general decline in the number of schools to which each student applies. A survey of 371 private colleges released last week showed two-thirds feared sinking enrollment. More»

Endowment's record plunge threatens school operations

(NEWSER) - Harvard, the world's richest university, saw its endowment plunge 22% between June and October of this year, the worst loss in its history, the Boston Globe reports. Revenue generated by the endowment, which fell by $8 billion, pays for 35% of the school's operation, and Harvard president Drew Faust expects a total loss of 30% by year's end. More»