Student Loan Blog : University of Texas

College Employees’ Donations to Obama Far Outweigh Contributions to McCain

Student Loan Girl — Fri, 24 Oct 2008 17:38:00 GMT

College employees have given eight times as much money to Barack Obama’s presidential campaign — $12.2 million — as they have to John McCain’s — just over $1.5 million, making it the widest gap in donations by academics in the past five presidential elections, according to data from the Center for Responsive Politics.

Obama, who taught constitutional law as a lecturer at the University of Chicago, has received donations from dozens of college presidents, from professors from a variety of liberal arts disciplines, and from faculty members at business, law, and medical schools, reports The Chronicle of Higher Education (“Donors From Academe Favor Obama by a Wide Margin,” Oct. 24, 2008).

A large amount of McCain’s donations from academic sources also came from a handful of college presidents and from faculty members at business, law, and medical schools. McCain also received donations from the head football and basketball coaches at the University of Arizona, a school in his home state.

Among the top 10 academic institutions to make donations to Obama’s campaign were the University of Chicago, Columbia University, where he earned his bachelor’s degree in political science, and Harvard University, where he earned a law degree.

Top 10 Colleges With Donors Giving to Obama Campaign

University of California: $778,000
Harvard University: $496,000
Stanford University: $342,000
University of Chicago: $285,000
Columbia University: $267,000
Northwestern University: $179,000
Georgetown University: $179,000
University of Washington: $165,000
University of Pennsylvania: $162,000
New York University: $158,000

Top 10 Colleges With Donors Giving to McCain Campaign

University of California: $40,000
Harvard University: $39,000
Columbia University: $35,000
University of Texas: $33,000
University of Pennsylvania: $28,000
Northwestern University: $21,000
Stanford University: $19,000
University of Minnesota: $18,000
George Washington University: $17,000
Washington University in St. Louis: $16,000

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Colleges Teach Students How to Pay for School, Manage Money

Student Loan Girl — Wed, 03 Sep 2008 20:56:00 GMT

Several Texas colleges and universities are rolling out new classes and programs designed to help their students become more financially-savvy about everything from student loans to personal finances, reports Pamela Yip, business columnist for The Dallas Morning News (“Colleges Spending More Time Teaching Financial Literacy,” Sept. 1, 2008).

At the University of Texas in Arlington, students may take a course that covers such topics as life and casualty insurance, taxes, investments, and estate planning. Southern Methodist University near Dallas offers a personal finance class for students pursuing a business minor.

And the University of North Texas, in Denton, has a Student Money Management Center that provides free financial consultations to students. Students can talk to trained professionals about how to research housing options, how to establish and manage their credit, and how to graduate with a financial plan to repay their student loans.

North Texas University Unveils Comprehensive Program for All Students

The north Texas school also launched the Student-to-Student Financial Success Projects on Sept. 2 that uses a peer-to-peer model of teaching. Students can meet and discuss money matters with trained students, known as Money Management Mentors, or go online and take self-paced training models.

“We feel that some students may learn better from another student who is actually going through a similar situation, or who has recently gone through similar circumstances,” says Kimberly Goldsmith, a student coordinator for the project.

While the program is available to all students, it primarily targets first-generation college students, families with low to moderate incomes, and other traditionally under-represented students.

Unlike the University of Texas and Southern Methodist University which offer such classes only at the college level, the University of North Texas seeks to assist students with financial literacy before they enter college. The school’s Center for Economic Education helps elementary and high school teachers integrate personal finance concepts into their lesson plans.

“One of the things that we have found is that the population has very little background in basic economics and personal finance,” said Steven Cobb, director of the center and chairman of the economics department. “The earlier that we start teaching economics, the earlier students begin to understand these concepts and the better the chance that they will be good consumers.”

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Teach for America Sees Surge in Applications

Student Loan Girl — Tue, 24 Jun 2008 22:40:00 GMT

Teach for America, the nonprofit program that recruits graduates of elite colleges to become teachers at underserved public schools, is on a winning streak, according to U.S. News & World Report (“Plenty of Praise for Teach for America,” June 20, 2008).

This year Teach for America applications jumped to 25,000 from 18,000 last year — a 37 percent increase. And this fall, the organization will place 3,700 new teachers in classrooms across the country, up from 2,900 last year.

A recent study by the Urban Institute, a nonpartisan research institution, concluded that Teach for America is successful at turning high-achieving college graduates with no prior experience or coursework in education, into effective teachers. Authors of the study found that “TFA teachers’ effect on student achievement in core classroom subjects was nearly three times the effect of teachers with three or more years of experience,” particularly in math and science.

Founded by Princeton graduate Wendy Kopp, who was recently named one of Time magazine’s 100 most influential people, Teach for America looks for candidates with strong critical thinking skills, solid grades, and who have the ability to influence and motivate others.

Among this year’s recruits, 90 are from the University of Michigan, 60 are from the University of Illinois, and the University of California at Berkeley and the University of Texas each have 50 graduates joining Teach for America.

The program will place teachers in more than 100 school districts located in 29 urban and rural areas this fall.

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