Current Issues in Field: Rising Cost of Education

As with common concerns about the economy, recession, and the rising cost of living, there is a grave concern (and dilemma) with the rising cost of education – in K-12, public, private, and higher education.

                A large part of scholarships includes reasoning through the students and academic programs worthy of a scholarship. How do you determine if an Ivy-league degree is more or less beneficial than a state-public school degree? In addition the accreditation of the university or college is the cost benefit of the education – an issue I have witnessed and dealt with first hand through this internship experience.

In a recent visit to Nevada, President Obama emphasized the issue of inaffordability of college loans. He told the university community at University of Nevada, Las Vegas, “making college affordable –that’s one of the best things we can do for the economy.” He was referencing the battle with Congress concerning the Stafford loans – the interest rate was cut to 3.4% five years ago in an effort to help borrowers ; however, the rate is due to double back to 6.8% on July 1^st (Read the full article here: Obama Criticized Republicans Over Student Loan Rates).

The rising cost of tuition and the cost of living go hand-in-hand. More recently, Vice President Joseph Binden met with 10 university and college presidents who have agreed to include a “shopping sheet” in financial aid packages sent to incoming students. The shopping sheet would clearly state the cost of attendance, students’ net cost after grants and scholarships, and financial aid options to pay and estimated monthly payments of federal loans (Read the full article here: Biden and College Presidents Talk About Paying the Bills).

                Although the information about federal and private loans is available, the convoluted explanations and terminology blur the distinctions between grants, scholarships, and loans, making it unclear of what amount needs to be repaid and with who interest rates.

$904 billion of student loans were borrowed by Americans by the end of March (8% higher than 2011). According to a Wall Street Journal article, student debt is quickly rising, not only due to higher tuitions but also because alternative ways of paying for college (e.g. home-equity loans) have dried up. In addition, college enrollment has increased due to the scarcity of job openings (Read the full article here: Student Debt Rises by 8% as College Tuitions Climb)

                It is a common known idea that “educated workers, on average, earn more than workers with less education and college grads are much more likely to have jobs than those without college degrees.” However, it is not necessary that borrowing money to go to school always makes sense.

                Therefore, it is important for students to carefully weigh the options of funding higher education and its long-term benefits. Not only is the institution’s reputation important to consider, but, in layman’s terms, also what is your “bang for the buck.”

Click on the image to test your knowledge of college financial aid:

Pop Quiz Answers: Subsidized vs. Unsubsidized Loans

Smudging the Lines - Work, Home, Wome?

Most people generally divide their work life form their social life. At 5 o’clock, work life ends and you are on your way to your real-world. In school and in training for the working work, experienced mentors have always been diligent to teach this important lesson. Therefore, I have been careful to limit the level of details provided to colleagues about my personal life. However, since I began my internship, the lines between work and “life” have smudged.

                My colleagues are also people I run into in Jamat Khanna – a part of my life that I did not share with colleagues or even classmates before. Therefore, it was important for me to learn the divide (if there was to be one) between these two lives and more importantly, how to co-exist with both lives.

                In some cities, urban development is geared to bring residents the life style close to their work places. Toronto, for example, developed plans to allow residents to live and work in the same community rather than spending hours commuting to jobs in downtown. Comments from readers make the case in both directions – for and against the transition to “living where you work.” ( 'New urbanism' projects put jobs close to home)

                At USC, a professor opted to live where he works, citing the short commute to work as a benefit. More colleges and universities and improving the “professor – in – resident” or “residential communities” on campus, to build the college campuses into residential communities, rather than a campus of academic buildings alone. ( Reasons for Living Where You Work - USC)

                There are pros and cons to living and working in the same community. Ultimately, the decision comes to what you – as an individual – prefer.

                On my first day, my biggest challenge was to remember the culture shift – the people in the officer are not just “uncles” and “aunties” as they would be in Jamat Khanna. They are colleagues, and I should treat them as such.

                In addition, it was important to mentally prepare of the new internship. One added benefit of working in the same community as you live in is you know the decorum, the language, and the culture of the community. According to The Good Intern blog, there are several preparatory aspects for every intern (or new employee) to remember as well as some of my own comments ( The Good Intern):

1. Know the location
2. Know the parking situation/requirements – be prepared for far, paid, parking
3. Plan what you are going to wear – make sure it is clean, iron it, polish your shoes, hem your pants, etc. ladies – wipe away that lime green nail polish and lay off the long dangling earrings or or excessive jewelry.
4. Do your research – know the company (or organization), including its mission, staff, etc.
5. Make a plan – have a gameplan of how your morning before the start of the internship will be like
6. Be prepared! – most offices provide basic supplies, but be prepared - bring a notebook (not your old school books!) - writing utensil - at least two different modes (pen and pencil)
   - documents if necessary for paperwork or preparation requested by the mentor/supervisor
   - munchies – not too loud or messy; you want to be able to have something to carry you until your lunch break, since you won’t know when that may be.

Breathe and have a good first day! That's how my day went! 


Regarding the divide between work and home, I am still handling it and contemplating the repercussions of it. However, ultimately, it comes down to being comfortable with the distinction (or lack of) between the different spheres of your life. Are you at work? At home? Or at wome? 

Dear Blogging World,

While I have used blogs in the past, they have only been because of required school projects. Again, this is a required blog. But I am happy to try it out to be reflective on my experiences and share my learning.

AKF Symbol

As an intern from the AKYSB Internships Program, I am a summer intern for Aga Khan Foundation's International Scholarship Programme (AKF-ISP: http://www.akdn.org/akf_scholarships.asp). I will be starting the internship mid-May and am looking forward to the new experience. Although I am a mathematics teacher, by profession, I am excited for a new perspective and new type of work within the education world: international post-graduates scholarships. Here is some information about AKF from their website:

The Aga Khan Foundation (AKF) focuses on a small number of specific development problems by forming intellectual and financial partnerships with organisations sharing its objectives. Most Foundation grants are made to grassroots organisations testing innovative approaches in the field. With a small staff, a host of cooperating agencies and thousands of volunteers, the Foundation reaches out to vulnerable populations on four continents, irrespective of their race, religion, political persuasion or gender.

Here is some information about ISP from their website:

The Aga Khan Foundation provides a limited number of scholarships each year for postgraduate studies to outstanding students from developing countries who have no other means of financing their studies. Scholarships are awarded on a 50% grant : 50% loan basis through a competitive application process once a year in June or July. The Foundation gives priority to requests for Master's level courses but is also willing to consider applications for PhD programmes, when doctoral degrees are necessary for the career objectives of the student. Requests will also be considered for travel and study awards for PhD students doing their research in Third World countries on topics judged to be of interest to the Aga Khan Development Network. Applications for short-term courses are not considered; neither are applications from students who have already started their course of study.

One of the goals of the internship will be to review all of the applications received (over 100) and prepare for the Scholarship Selection Committee, which will be attended by Prince Amyn Aga Khan and Princess Zahra Aga Khan, among other dignitaries.

I am looking forward to the start of the internship next week and the rest of the summer in Houston!