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Archive for February, 2007

MBA graduates in high demand again

by Tracy Benbrook (February 28, 2007)

The more education you have, the higher your earning potential will be, according to a report released by the U.S. Census Bureau. This has certainly proven true for MBA graduates. After experiencing a dip in hiring numbers in recent years, the MBA is back in demand, with higher salaries to boot.

Earning an MBA can mean a difference of as much as $2.5 million over the course of a lifetime, compared to those without an advanced degree. With more employers seeking qualified MBA graduates, now is a good time to enroll in an accredited MBA Degree program.

Consider that the average MBA candidate has trimmed the number of applications down from 39 last year to just 17 this year. At the same time, the number of job offers has doubled, according to a July 2005 survey released by recruiting consultant WetFeet.

“The best indicator is seeing the students’ confidence level at getting attractive, interesting jobs,” said Andy Chan, Director of the Stanford University Graduate School of Business MBA Career Management Center, in USA Today. “They have good feelings there will be a positive outcome at the end of their job search.

There is also the increase in salary to consider. WetFeet forecasts this year’s MBA graduates will earn slightly more than the $106,587 average base pay and bonus of last year’s class. With salaries on the rise and more job offers for MBA graduates, going back to school to earn an MBA makes sense.

Research your MBA Degree program options now to find the best MBA school for you. There are both online MBA Degree programs and traditional MBA schools to consider. Search for the right MBA program now!

Education after high school - alternatives to four-year universities

by Tracy Benbrook

Four-year colleges aren’t right for everyone! In 2000, the U.S. Census Bureau revealed that one out of three college students drop out!

But if you’ve dropped out of college - or decided college wasn’t the right choice for you in the first place - a higher education is still one of the most valuable assets you can have in today’s world. Fortunately, there’s no need to lose hope - a four-year degree isn’t the only kind of education available!

Some students who drop out of four-year universities switch to local colleges, in search of two-year Associate degrees. Two-year degrees can prepare students for a number of entry-level positions, as well as provide a good base if a student decides to go back to college in search of a Bachelor’s degree. They also have the advantage of often being far cheaper, which can be a great help if monetary considerations are one of the reasons a student felt that a four-year university wasn’t right for them!

In addition to local community colleges, career colleges can also be a good choice for students looking to further their education. With career colleges, students receive a very targeted education, specific to their wants and goals. Programs are usually completed in a far faster time than a four-year university and consist of very practical education, which makes a career college great option for someone who wants to move right into the workforce.

If a four-year college isn’t the best choice for you, learn more about your alternatives! Don’t let money discourage you - financial aid is often available. Many programs are also flexible enough to work around your work schedule or family responsibilities, and the rewards for your efforts are well worth it. No matter what option you go with - education is the best way to achieve future success.

Loan consolidation best bet to debt management for graduates

by Tracy Benbrook

According to the U.S. Department of Education, the amount of debt students have when they graduate is on the rise. Total student loan debt has risen to around $18,000 at graduation in recent years. With student loan interest rates set to increase after July 1, 2005, time for students to take advantage of low student loan consolidation rates is running out.

Consolidation allows students to lower monthly loan payment by extending the length of time the students can repay. "The standard payback schedule is ten years, while consolidated loans allow up to a 30 year period of repayment," according to an article in the Johns Hopkins News-Letter.

"Plunging interest rates have made consolidation, as well as other types of personal refinancing, front-page news the past several summers," Spectator staff writer Eleazar David Meléndez reported. "This year, though, a combination of fiscal and policy moves by the federal government almost certainly guarantees that there will be no more chances to take full advantage of this strategy after June."

The current student loan consolidation interest rate is expected to rise from the all-time low of 2.875 percent to as much as 4.25 percent after July 1. Failure to take advantage of these student loan interest rates can mean higher loan payments later. In addition to a hike in student loan interest rates, the federal government is considering legislation that changes federal loan consolidation rules. These proposed changes would eliminate fixed-rate consolidation.

"Since interest rates are on the rise and the fixed rate feature will quite possibly be replaced by variable rate in the next year, this senior class is likely to be the last to be able to convert their variable rate federal Stafford Loans to a fixed rate low interest federal consolidation loan," said David Charlow, Director of Financial Aid and Educational Affairs at Columbia University.

If you are a student with multiple loans or high amounts of federal student loans, consolidation is one of the best ways to help you manage your student loan debt. Take advantage of low interest rates on federal student consolidation loans before the interest rates spike.

Offline Materials Get Wired with Google Library

by Tracy Benbrook

Popular search engine Google has had its share of headline moments recently. First with a successful IPO, and now with the announcement that it is taking the libraries of Harvard, Stanford, the University of Michigan, the University of Oxford and the New York Public Library on a ride through virtual reality.

“Even before we started Google, we dreamed of making the incredible breadth of information that librarians so lovingly organize searchable online,” said Larry Page, Google co-founder and president of products.

Google made the announcement late last year that it was working with these prestigious libraries to digitally scan books from their collections so users worldwide can search them in Google. Copyrighted material will have only an excerpt online, while all others will be on the Web cover to cover. Although the project has a long journey before it is complete (one USA Today article projected a five- to ten-year time frame), the announcement alone has raised questions about the future role of libraries.

“The idea that the world’s knowledge, as held through books and libraries, is opening up to all via a Web browser cannot be understated,” said John Battelle, professor at the University of California - Berkeley.

Google’s virtual library does more than make millions of books available online. It introduces Web users to millions of books they didn’t know existed, especially books that are no longer in print. But because of the copyright laws, users will still have to visit libraries to actually read any books they find.

According to Rob Enderle, an independent analyst with The Enderle Group, “search engines will be where more readers will find out about books, instead of at the bookstore.” Others see the Google library as a way to rejuvenate traditional library use.

Dean of Libraries at the University of Kentucky, Carol Pitts Diedrichs, hopes that Google’s new program to put thousands of texts online will drive readers back to where they once started: the library. “People don’t sit at a computer and read a book much,” Diedrichs said. “What we hope it [Google library] will do is drive users to us to use our collections.”

Not everyone sees an online library as a boost for traditional library use. For those who rely on time in the library, such as students, the prospect of a virtual library means greater ease with studying and accessing needed materials.

“If it was possible to access things online without leaving my room, that would be a huge help,” said senior Stanford student, Will Oremus. “For research papers, there are lots of books you can only get at the library. It would be really cool to get them on your computer.” Making it to the library has proven difficult for him, as he is usually not free to hit the library until well after it closes.

The $150 million project will change the face of information on the Internet no matter what role it plays in the future of promoting libraries or making them obsolete. An online library brings credibility to the massive amounts of information found on the Internet. Not many can successfully argue against more reliable search results.

Susan Wojcicki, Google’s director of product management, believes indexing library books is a plus for everyone, and an advantage for Google. “If we offer a better search engine, that will lead to more users,” Wojcicki said.

That is exactly what Google hopes will happen as it forges ahead in the quest to digitize the most popular and the most obscure books for the world to share.

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