Archive for August, 2011
Funding A College Education
In today’s ever changing world the most important thing that a person can have is a college education. Without some form of higher learning, it is close to impossible to obtain a career that will be satisfying and rewarding in one’s life.
The United States Census Bureau has reported that a person with a Master’s degree will earn $1.3 million more income in a lifetime than a person who holds only a high school diploma. This fact is boggling to say the least. And for women and minorities that figure is even more depressing. With this understanding, a person should be looking to obtain a higher level of education to increase their standard of living, their quality of life, and their overall well-being. It is proven that people with higher levels of education tend to improve their health as well.
The problem with obtaining an education today is that college tuition rates have been on a steady rise while funding for college level education has been declining. Through the recent fiscal crisis and economic downturn, the states have steadily reduced funds available for college education. Increasingly, college is become more for those who have an athletic ability to earn a scholarship and those whose families are financially able to support them. With this in mind the future college student must look to every possible avenue to obtain financing for a college education.
With public four-year college tuition and fees averaging $7,605 per year for in-state residents, and $11,990 per year for out-of-state residents, even the cost to stay close to home can be unbearable for the average family. When one looks to the private institutions the cost are even greater with the average yearly tuition and fees rate of $27,293, which for most families is their yearly salary from employment. The cost for attending a two-year community college can lessen the impact, but the average is still costly at $2,713 per year for tuition and fees. With the average annual increase of 4%; how does the average family pay for college education to better their lives and the lives of their family?
The most common funding source for college students is to seek federal loans and grants to pay the necessary cost. However, not all families are eligible for the full amount of the federal Pell grant. The formula for awarding Pell grants to future college students includes the total income of the household. If this income exceeds the federal threshold formula then the grant will be reduced accordingly. The maximum amount that a Pell grant will cover is up to $5,500 a year for tuition, if eligible, and the remainder must be covered by loans, family, and the student working. This causes a burden to the family and the student working to obtain a higher degree. With the the financial burdens and the yearly increases for the cost of college education, a family should be looking for multiple alternative financing methods and options.
Bank Street College of Education
Campus Overview
Originally located at Bank Street in Greenwich Village, the reasons for origination of its name, the college was shifted to its present location in the year 1970. Its campus has a graduate school, teacher’s training campus, children services centers, and set up for various other community education programs.
Brief History
Founded in 1916 by Lucy Sprague Mitchell the institute originally focused on educational experiment and child development. A nursery school was opened in 1918. Formal training of teachers commences only from the year 1930 and it marked the beginning of shaping of the present Bank Street College of Education. A unique contribution of the college was development of “Bank Street Readers” books featuring racial diversity in 1965. Important contribution was made by the college in commencing the Federal Head Start Program. A bookstore providing quality educational materials for both children and educators is the highlight of the campus.
Programs Offered
One of the best institutes listed in New York college directory for imparting training to private and public school teachers, it currently has three programs. Graduate school of education, children’s program, and Division of Continuing Education are the three programs offered by it. While the children’s program has the school, nursery, and family center that serves children in the age group of 0.6 – 5 years, the school works in collaboration with Center Against Domestic Violence.
Admission
Applicants having GPA of at least 3.0 or B average or higher and having full preparation can apply for graduation courses culminating in master’s degrees. Applicants should fulfill the criteria for breadth and depth distribution in liberal arts and sciences. Separate criteria have been set up for Middle School Education program, undergraduate courses and advanced Master of Education in special courses. Applications can be filed in person, by mail or online. Application fee is $65 payable at Bank Street College. One can log on to the website of the college to get the eligibility criteria on the admission requirement and applying pages. Datelines are there for all types of applications and one should be well acquainted with them.
Financial Aids
Students can apply for financial aids like Federal, State and Grants awarded by universities, scholarships, and loans depending on their eligibility. Normally all applications are made using the FAFSA forms. Details are available on the website of the college.