American Morning
Is college worth the cost?
(CNN) – Is college really worth the cost? Payscale.com has released a report that looks at the return on investment students can expect from their college education. Our Christine Romans has the report.
Payscale.com: Which Colleges Are Worth Your Investment?
Schools out of stimulus cash cut teaching jobs
(CNN) – When the economy tanked, there were a few jobs that people considered to be recession-proof. Teaching was one of them. But as our Mary Snow reports, with stimulus dollars running out in school districts across the nation, thousands of teachers are finding themselves without a class to teach.
Kalamazoo earns Obama visit, federal $$
(CNN) – President Obama is heading to Michigan today to give the commencement speech at Kalamazoo Central High School. The school won the president's "Race to the Top" challenge, and it's the start of a major education push by the administration this week. Education Secretary Arne Duncan joined us on Monday's American Morning.
New grads face tough job market
(CNN) – This one is just for the class of 2010, new college grads who have their education and now a diploma to prove it. But here's the hard part: Landing a decent job. With unemployment nationwide still teetering around double digits, finding your first job is harder than ever. Our Christine Romans has some tips you can use.
The Cost of College: Dream school, nightmare debt
Editor's Note: A new study suggests job prospects for this year's college graduates have improved slightly. That's a little bit of good news for students who now have to pay for that education. This week, our Alina Cho is looking into "The Cost of College." Today, she has the story of one young man who regrets his decision to go to a top-tier university.
(CNN) – For high school salutatorian Ryan Durosky, there was no question that he would go to his dream school, New York University. It's a name-brand school, but it cost him. Now, he's nearly $300,000 in debt, and he's not alone.
To be clear, Ryan does not blame NYU for his college debt, he blames himself for making the choice, and he believes the economic downturn played a role. He certainly did not expect to be laid off, especially so soon after graduation.
NYU tells CNN its advice for prospective students is to "plan ahead." College is an investment and people need to save for it. Also, they say, if you're in default on your student loans you should contact the lender and NYU's career center for help.
Commentary: Cost of college damaging, financially & mentally
Editor's Note: This week, our Alina Cho is looking into "The Cost of College." Today, she has the story of one young man who regrets his decision to go to a top-tier university. For Ryan Durosky, there was no question that he would go to his dream school, New York University. Now, he's nearly $300,000 in debt, and he's not alone. Below is a commentary he wrote for CNN about his experiences.
By Ryan Durosky
Special to CNN
I graduated on the precipice of one of the worst economic collapses in American history. Living in NYC, I was at the center of this maelstrom. Lucky for me, I chose not to work in the financial services industry. Friends (and friends of friends) recently hired by investment banking powerhouses were told to leave and so the layoff rate began to mirror the DOW’s plunging numbers. But I was safe. Far removed from the volatility of the financial markets, I could watch the DOW plunge 700 points in one day and know that I still had a job. I, and countless others didn’t know that these events would have far-reaching effects. Namely, my job wasn’t as safe as I thought it was.
My salary was modest and I had average health and dental insurance. By the summer of 2008, I was struggling to pay down my $1,125/month rent while living in one of the most expensive cities in the world. Yes, I had roommates to share the expenses with but there was plenty of rent due to go around. Add to that overdue monthly credit card bills (credit that I needed to get through college), unpaid hospital bills, and...well you get the picture, but I was on my own and that was all that mattered for the time being. College was over, this was ‘reality.’
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