News & Updates From Generation Y

Archive for 2010|Yearly archive page

News Blast

In Millennial Matters on February 26, 2010 at 10:49 AM

Millennial News Update

World’s Top 400 Universities According To US News & World Report (US News & World Report)

College Admissions Deadlines Pushed To May (NY Times)

Gay Students Help Recruit Gay Applicants At Penn (USA Today)

Ole Miss Set For Mascot Change (USA Today)

Students Return To Campus After Shooting (Washington Post)

UCSD Launches Campus-Wide Campaign After Student Group Mocks Black History Month (LA Times)

Ole Miss Looks To Change Mascot

Pennsylvania Professor Suspended After Publishing “Hit Man” Facebook Post (Washington Post)

More High Schoolers Reinvent Or Skip Senior Year (USA Today)

Rich Students To Get More College Acceptance Letters In 2010 (US News & World Report)

Why B-Schools Set Their Entrepreneurs Up For Failure (Forbes)

Advertisements

The “President’s Plan”- Health Care Reform & Millennials

In Millennial Matters on February 23, 2010 at 6:35 AM

As President Obama prepares to host a bipartisan health care summit, the debate over health care reform has reclaimed center stage. While the spotlight continues to shine on Democratic and Republican talking points, one voice has been largely absent from the table: the voice of young adults.

Often called “Young Invincibles,” this demographic of 18-35 year olds accounts for roughly 1/3 of the country’s uninsured population. Some troubling statistics (according to YoungInvincibles.org):

-In 2009, the number of uninsured young adults climbed to 18.9 million

51% of young adults aged 19 to 26 do not have employer-sponsored health insurance

-Between 2001-2003 a staggering 62% of young adults between the ages of 19 and 23 went without coverage for some portion of time.

-In 2005–2006, there was an average of 7 million injury-related emergency department visits each year by young adults. (Young adults have the highest rate of injury-related emergency department visits among all age groups.)

-Between 2004–2006, about 15% of young adults reported having one or more of the following chronic medical conditions: arthritis, asthma, cancer, diabetes, heart disease, or hypertension. (15% of young adults have a chronic health condition.)

Part of the problem is that young adults are facing an extremely difficult job market; not only is the unemployment rate affecting Millennials the most, but jobs often taken by young adults do not include employee-sponsored plans. If young adults had access to affordable health insurance that covered catastrophic injuries and other unforseeable accidents, their risk of suffering from medical debt would be far less.

Under Obama’s new health care plan dubbed “The President’s Proposal,” young adults would be allowed to stay on a parent’s health insurance plan until the age of 26. While this may help alleviate some of the problems associated with uninsured Millennials, a large number of young adults would still be without health care in the event that their parents or guardians have lost jobs and/or coverage in recent months.

As the health care debate continues to remain a top priority in Washington, I encourage our lawmakers to consider ways in which insurance reform could improve the tremendous problem of uninsured Millennials. While “Young Invincibles” aren’t as likely to be diagnosed with cancer or suffer from heart attacks, they are anything but “invincible.”

New Rules Place Barriers Between Students & Credit Cards

In Millennial Matters on February 22, 2010 at 12:21 PM

From US News & World Report:

New Credit Card Act Makes It More Difficult For Students To Obtain Cards

Parents expect their children to return home from their first year of college with a better grasp of the world and a perhaps a few new friends. Some, however, are arriving home with an unexpected burden—credit card debt. Card issuers have long bombarded college students with solicitations via mail and enticed them to sign up for cards on campus by promising free food or other items in return for their signatures. The ease with which students could acquire cards has astounded some. “Students without income, assets, jobs, or credit reports have been issued credit cards virtually automatically,” says Tim Mensing, student body president at the University of Washington. “Just being a student was good enough for them to issue a card…”

Click Here To Continue Reading

News Blast

In Millennial Matters on February 22, 2010 at 10:05 AM

Millennial News Update:

White House Seeks More Funding For Education

White House Seeks More Funding For Education (WSJ)

Alabama Murderer Killed Her Brother 24 Years Ago (Boston.com)

Virginia Tech Panel Advises School To Pull Funding On Campus Media (Washington Post)

VA Tech Advised To Pull Funding For Campus Media

Harvard Tests Market For Property Bets (WSJ)

T. Boone Pickens And Oklahoma State University Sue Life Insurance Company (NYT)

The $550,000 Student Loan Burden (WSJ)

Business Schools Tap Veterans (WSJ)

Student Suspended For Facebook Page Can Sue, Rules Federal Judge (NY Times)

Bigger Tuition Bills And Student Loans Ahead (USA Today)

California Race-Based Admissions Law Challenged (AP)

UC San Diego Investigating Party Mocking Black History Month (Examiner)

Expecting A Surge In Medical Schools

In Millennial Matters on February 21, 2010 at 12:28 PM

From the New York Times:

Peter Allen applied to 30 medical schools after graduating from the University of Pittsburgh last year. Twenty-eight said no.

Of the two that said yes, one had something in common with Mr. Allen: It, too, was starting out in medicine. He enrolled in the inaugural class of The Commonwealth Medical College in Scranton, Pa.

“I was ecstatic that I had been accepted to a medical school,” Mr. Allen said, adding that he would have gone for a master’s in bioengineering if he had not been accepted. “It’s a giant sigh of relief; it secures your plans for the rest of your life really.”

The Commonwealth is one of nearly two dozen medical schools that have recently opened or might open across the country, the most at any time since the 1960s and ’70s.

These new schools are seeking to address an imbalance in American medicine that has been growing for a quarter century. Many bright students were fleeing to offshore medical schools, or giving up hope entirely, when they could not get into domestic schools. Meanwhile, American hospitals were using foreign-trained and foreign-born physicians to fill medical residencies. During the 1980s and ’90s only one new medical school was established.

“Huge numbers of qualified American kids were not getting into American medical schools or going abroad to study,” Dr. Lawrence G. Smith, dean of the proposed Hofstra University School of Medicine, in Hempstead, N.Y., which is not yet recruiting students, said last week. “I think it was a kind of wake-up call.”

Click Here To Continue Reading

News Blast

In Millennial Matters on February 8, 2010 at 10:18 AM

Millennial News Update: Week of 2/8/10

Professor Charged In Murder Of 3 (New York Times)

President Obama To Deliver Commencement At University Of Michigan (USA Today)

University Of Iowa Rejects Student Plans To Show Pornographic Movie (Chicago Tribune)

UK University Applications Up 23% (BBC)

University Study Links Soda To Pancreatic Cancer

University Study Links Soda To Pancreatic Cancer (CBS)

FAU and Lynn Host “Hoops For Haiti” (Palm Beach Post)

Students Arrested For Heckling Israeli Ambassador At California University (JTA)

Washington University Makes Layoffs (Newsday)

Former LSU Deputy Sues School Over Katrina Controversy (CBS)

How College Applications Are Emulating Credit Card Companies (NYT)

Seeking To Reform University Tenure

In Millennial Matters on February 6, 2010 at 8:51 AM

A year after being named Time Magazine’s “Best College President,” Ohio State University’s Gordon Gee is taking on the issue of tenure in an effort to modernize the education system.

Gordon Gee, President of Ohio State University

Instituted in the 1940’s, academic tenure was implemented to promote academic freedom, encourage intellectual autonomy, and create a culture of excellence by ensuring job security and offering significant employee benefits.

According to an LA Times article published this week, Mr. Gee believes that the tenure system is outdated:

“Mr. Gee says the traditional formula that rewards publishing in scholarly journals over excellence in teaching and other contributions is outdated and too often favors the quantity of a professor’s output over quality.”

While universities have reaped significant benefits from tenure review in the past, a number of concerns have been raised about the system in recent years. Some feel that tenure allows senior professors to become unproductive and irrelevant. It has also been suggested that tenure may actually squash political and academic freedom because professors are likely to conform to the beliefs of the institution at which they seek job security and employee benefits.

In his Freakonomics Blog posted on the New York Times website, economics professor Steven Levitt slammed the tenure system for twisting faculty incentives:

“What does tenure do? It distorts people’s effort so that they face strong incentives early in their career (and presumably work very hard early on as a consequence) and very weak incentives forever after (and presumably work much less hard on average as a consequence).”

While the issue of tenure has been taken up by a number of people in the past, the LA Times article states that “Gee is one of the few American college presidents with the reputation and political prowess — not to mention the golden touch at fund-raising — who might be able to begin the transformation.”

(Seeing that his proposal for reform has already been covered by national papers such as the Los Angeles Times and New York Times, I think I’d have to agree.)

While Gee has not yet released details about his plan for tenure reform, he has already drawn a great deal of attention to the issue.

I’ll be sure to keep you posted on any developments in this story, but in the meantime, you can follow Mr. Gee on twitter at  http://twitter.com/presidentgee. (Who knows, maybe you’ll be the first to get the scoop straight from the president’s tweets.)

Crashing The College Credit Card Party

In Millennial Matters on February 3, 2010 at 8:26 PM

It’s no secret that college students struggle with credit card debt, but the new Credit Card Act of 2009 could potentially end some of their poor plastic-swiping practices.

Effective February 22, 2010, the law will prevent those under the age of 21 from obtaining credit cards unless they are able to show proof of sufficient income or have an adult co-sign on their account. The law also bans companies from offering “freebies” if students sign up for credit cards on/near campus or at college-sponsored events. (“Near campus” is considered to be within 1,000 feet of the school’s border.)

Some think the new law is a positive step in reducing the debt accumulated by college students. (A recent Sallie Mae survey found that the average amount of debt carried by college cardholders is $3,173, and the average number of cards held per student is 4.6.)

Bill Hardekopf, the chief executive officer of LowCards.com, told Bankrate that it has been far too easy for young people to obtain credit cards.

“Just the fact that the average college student has 4.6 credit cards,” said Hardekopf. “I don’t have 4.6 credit cards. Why do you need 4.6 credit cards?”

(Read: 8 Major Benefits Of New Credit Card Law)

While the amount of debt and the number of credit cards carried by college students are likely to be reduced under the Credit Card Act of 2009, some students and professors feel that the new law is a poor solution to the overall problem.

“Its more government interference,” said Ohio State junior Edward Wells. “It’s something they don’t need to be interfering in.”

“It’s my money so I should spend it how I want to. I shouldn’t need my parents to co-sign it and be able to see every cent that I spend,” said Ohio State freshman Sherrie Kessler.

Jonathan Fox, a personal finance professor at Ohio State, thinks it is irresponsible to give college students lower expectations regarding financial matters.

“While I think it’s loaded with good intentions, it’s concerning to me that we’re going to have special treatment for these adults who really need to be learning about personal finances by using the key tools of personal finance,” said Fox. Fox thinks the bar should be raised for students, not lowered.

Regardless of how students and college administrators feel about the Credit Card Act of 2009, the new law is set to take effect later this month.

I don’t know about you, but I’m pretty interested to see if (and how) it changes the spending habits of young adults in the near future and later on down the road.

(Read: A Comprehensive Guide To The Credit Card Act Of 2009)

The College Endowment Disaster

In Millennial Matters on February 1, 2010 at 8:50 AM

2009 marked another horrible year for college endowments. According to a recent survey by NACUBO, the endowment funds at 842 institutions fell an average of 18.7%.

Fast Facts:

College and university endowments in the United States and Canada collectively lost $93 billion in 2009

-The eight schools that make up the Ivy League lost a collective $26.6 billion in 2009

-New York University’s endowment fared the best among institutions with endowments worth more than $1 billion, including every single Ivy League school

-The number of schools totaling more than $1 billion in assets fell to 53, down from 77 in 2008

-Over the past ten years, institutions reported an average annual return of 4%. In the same period, the S&P 500 dropped more than 20%

CLICK HERE TO SEE THE BEST AND WORST-PERFORMING ENDOWMENTS OF 2009

News Blast

In 103 on February 1, 2010 at 7:37 AM

Millennial News Update: Week of 2/1/10

College Endowments Plunge In 2009 (Wall Street Journal)

More Students Required To Learn Personal Finance (USA Today)

University of California Plans First Waiting List (NY Times Blog)

Broadcast Journalism Student Caressa Cameron Crowned Miss America

College Student Caressa Cameron Crowned Miss America (People)

Obama To Seek Up To $4B In Education Spending (USA Today)

Rutgers Suspends Sorority, Six Members Charged With Hazing (CNN)

Search Continues For Missing Iowa State Student (Chicago Tribune)

Women Continue To Dominate College Gender Gap At 57% (USA TODAY)

Video: Obama Addresses Education In SOTU Speech (USA TODAY)

U.S. May Examine College Football Bowl Season (Wall Street Journal)

Abstinance-Only Classes May Be Effective For Young Teens (LA Times)

Rebound In Investment Markets Eases Financial Pressure On Colleges (US News & World Report)

Google Boosts University Research Funding (IT Business Edge)

Study Suggests Obesity May Delay Boys’ Puberty (ABC News)

University Of New Hampshire President Outlines Plan To Keep School From Sinking (BusinessWeek)

Cal State University Seeks To Attract More African-American Students Through Church (Mercury Times)

A Casualty Of The Times: University Of New Orleans Leaves Division 1 Sports (US News & World Report)

Wisconsin Proposes Crackdown On Phony Degrees (BusinessWeek)

University Fundraising Falls 12% In 2009 (Washington Post)

University Of Texas Students Scramble To Save Beloved Cactus Café (Houston Chronicle)

Faced With Budget Woes, Indiana Medical School To Cut A Number Of Students (Kaiser Health News)

Two Women Charged In Bentley Stabbing (Boston.com)

Nationwide College Tuition On The Rise (North Jersey Record)

Internet “addiction” Linked To Depression (NY Daily News)

UT Donates Extra Football Gear To Haiti Relief Efforts

UT Football Program Sends Gear To Haiti

The University Of Texas Sends $300,000 In Clothing To Haiti (USA Today)

Ohio State University President Seeks To Change The Rules Granting Tenure (LA Times)

Failure Rate For AP Tests Climbing (USA Today)

Gifts To Major Colleges Decline (Harvard Crimson)

Yale Faces $150 Mil Deficit; Plans Staff and Research Cuts (NY Times)

Stanford Ranks First In Private Donations (LA Times)

Harvard Names Justin Timberlake “Hasty Pudding’s Man Of The Year” (Gather)

…..Photos (Examiner)

Penn State Probes Controversial Climate Scientist (WSJ)

13-Year-Old Football Player Commits To USC (Fox NY)

Michigan State Decides Not To Alter Logo (Detroit Free Press)

Former Indiana Hoosier Guard Arrested On 18 Counts Of Misappropriation Of Escrow Funds (NCAA Basketball)

Study Finds That Graduates Prefer Cats To Dogs (AP)

University of Akron Kicks Off 12th Superbowl Ad (Dayton Daily News)

British Students Asked To Silence Sexual Activities (All Headline News)