Community Perspective
University, community addressing student debt
Published Sunday, June 15, 2008
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Stumble It!Higher education — with its emphasis on “investing in your future” — is taking on a new meaning as more and more college students are graduating with some form of student debt. Across the nation, many students are financing their education with loans and even credit cards. In addition, the average amount of those loans is steadily rising, with an average 8 percent increase between 2005-2006, according to the Higher Education Project of the U.S. Public Interest Research Groups. Starting salaries for recent graduates increased by only 4 percent in that same time frame, making it more difficult for some students to repay the loans.
In response to these alarming trends in higher education debt load, the University of Alaska Fairbanks is taking measures to alleviate some of that debt burden for students. Thanks to the generous and growing support of donors, we are able to offer more students more private scholarships — and for higher dollar amounts — than at any other point in our university’s history.
That’s great news for our students, who are not only struggling to find ways to pay for their education, but are also finding their efforts and finances handicapped due to the escalating cost of living. In a state as rich as Alaska, students who want to make their lives better by pursuing a degree should not have to choose between paying tuition or filling the fuel tank. As a university and a community, we can help make both choices possible.
One such endeavor is the Chancellor’s Annual Giving Student Initiative, which Chancellor Steve Jones announced this spring. Generated through donations to our annual giving program, this effort is geared to reducing student debt by raising the overall amount of funding available for scholarships. The change means that, beginning this fall, students with endowed scholarships will get a minimum of $1,000. This will have a significant impact on the nearly 400 students who receive privately funded scholarships from UAF each year.
The Osher Reentry Scholarship, through a generous grant from the Bernard Osher Foundation, is an example of another effort underway to reduce student debt. UAF will have a minimum of 12 scholarships of up to $5,000 apiece starting in fall 2008 for returning students earning their first baccalaureate degree after an interruption of five years or more. This will be a huge benefit to students who have had to drop out of school because of mounting debt. They face a double-edged sword — they still do not have a degree and thus lack earning power, but carry a debt like many graduates. Going back to school can be very daunting, and the Osher Reentry Scholarship will help make the transition a bit smoother for those who receive it.
Student debt at UAF is a reality. It is also a reality that UAF is and has always been a great value for Alaska residents. And it is also a reality that our graduates have a higher earning power than those with no degree. According to the Alaska Commission on Postsecondary Education, in Alaska, a bachelor’s degree will result in an average salary 47 percent higher than a high school diploma alone.
Students go to UAF for many reasons, including a desire to learn more and earn more. They study hard and work hard to make a better life for themselves and their families.
You can help by donating to one of UAF’s 350 privately funded scholarships at www.uaf.edu/giving/. Together, we can help students pay for their education and graduate with a little less debt and a lot more financial security.
Judyth Wier is the associate vice chancellor for development at the University of Alaska Fairbanks and a passionate advocate for UAF students.
Community Discussion
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Ha Ha Ha. I laugh at the idea that any administrator, especially former Chancellor Jones, gives a rats ass about student debt.
Wait, I feel another laugh coming on…Ha Ha Ha.
Wasn’t it former Chancellor Jones who implemented the Student Athletics and Recreation fee without getting any input from UAF students? I now have the privilege of paying an extra $60 per semester to support the athletics department. Yay! Last time I checked, the athletics department has none, zip, zero, nada, impact on academic programs at UAF, and yet Former Chancellors Jones thought that we students would just love to support that pathetic, debt ridden program. Oh, and what about the transportation fees. I’ve ridden those ridiculous shuttles twice in four semesters. What does that come out to, thirty bucks a ride? Then there’s the SRC fee, the technology fee, the parking fee, the blah blah blah fee. What about the expensive meal plans for food we can’t even serve to terrorist at Gitmo.
And what about tuition? Tuition has gone up more that 50% since I’ve been there. I KNOW my department hasn’t hire 50% more faculty.
I could go on and on, but I would just make myself even more depressed.
The longer I’m at UAF, the more I realize that the UAF administrators don’t care about students. In fact, I bet the vast majority of them just wish that those “pesky students” would simply go away.
University addressing student debt…Ha…What a joke.
More money available through scholarships and grants will just encourage the university to continue with their runaway tuition increases. They will increase tuition enough to absorb every dime in sholarship money and the out of pocket cost to the students will never, I repeat, NEVER go down. They will grab as much money as they can until the well runs dry. Someone has to pay for that new eyesore they call a museum.
I totally agree with all of the above. The problem is the grossly overpaid staff and exorbitant fees for the actually minimal quality of the education received.
Associate Vice Chancellor Wier (geez .. how many are there)sure flaunts the BS information with her stats as well. She says the "our graduates have a higher earning power than those without degrees" What a stupid statement. ANY graduate has a higher earning power that a non-graduate from any school.
It's no wonder that those with the degrees earn more than those without., They all work at the University or at the school district ... lol. Get real lady.
Maybe the gentle lady could contribute 10% of her pay to one of those privately funded scholarships as a starter package!
hahaha, i start to laugh as well. nothing like a 10% spike in tuition every year.
Why is it always more endowments, scholarships, tuition assistance, and easier loans? Why not address the huge consumer that is the University. The government, states, private citizens, and loan agencies all want to put more and more money into teachers, buildings, and administration, but never look to the possibility that sometimes these resources need no increased funding.
How is this microcosm at the immediate mercy of fluctuating markets (except for changing technologies and cost of energy)? What is the reason for charging students more? What is the cause of constant tuition hikes? What benefit are these projects or positions creating for the community?
If they really want to perpetuate this myth that they want to improve generations with educating them, then let them eat a pay cut. Make them reduce consumption. Make them slim departments that serve a menial duty (parking). Make them consolidate buildings and fill empty rooms.
What is this driving force for more money at the burden of young minds and lives?
I commend everyone out there who attends the staff senate, and student government meetings when they are addressing these issues.
you want an education? join the Army. quit whining, you owe money you have to pay that is the reality of life. i wish there were no student loans, you work your butt off to get to school and then work even harder to stay there a college education used to mean something, now all it means is that someone is too lazy to work for a living.
Wow Che, you have just officially made me feel guilty for wanting to get my BS in Wildlife Biology.
I am a 40hr/wk worker at a great job and make decent money, however was just informed that in order to move forward up in the company a BS would be the best thing for me. I have thought long and hard about this decision and the only way to accomplish this is by taking out student loans. I am by no means lazy like you are implying, I just want to be able to get my degree from school that offers classes that many other schools don't when it comes to wildlife.
I understand that the rise in tuition for departments that make no money or are a waste are exactly that a WASTE of money. But overall education is better for everyone that wants to do something in the world with it. It is a sad day however when you have wealthy people whine and moan about these increases and do nothing to stop it or for that matter have inflated salaries and think that they need more. What would be nice to see is those individuals give back to their community and instead of accepting these raises put that into the fund for a few years.
And on one last note if Fairbanks had a zoo I probably would be working instead of taking out as many student loans as I am to help pay for my college education.
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