Tuesday, May 21, 2013

#528 (5/21)The REAL Cost Of A College Degree"/The TAXPAYER Cost of Student Loans

URGENT PRAYERS/PETITIONS: Same -Sex "Marriage"- PLEASE PRAY WITH ME (every day untill the decision is revealed around mid-June) THAT THE SUPREME COURT WILL VOTE TO UPHOLD THE 2 LAWS REVIEWED SUPPORTING A TRADITIONAL DEFINITION OF MARRIAGE.. PRAY that the Court will resist any pressure to MAKE new law based on "cultural trends." PRAY as though the very future of the institution of the family is at stake because it is. PRAY! -  for the sake of possibly millions of children, and for our country if it is to continue to be shown any more favor by our Heavenly Father, who I promise you will be very displeased if homosexual marriage is legalized; "GOD IS NOT [TO BE] MOCKED..." - (Gal. 6:7)  - Stan [Be sure to check out my brief essay at post #478.]

SPECIAL NOTE: This week's message of "Truth That Transforms" - to be found at(www.truthinaction.org) speaks of the Biblical basis for marriage and the threat posed to the oldest of institutions in society by the so-called same-sex "marraige" effort. It also includes a feature that looks at the problem of fatherless homes in America. Don’t miss another great broadcast!

PASTOR SAEED (Iranian-born AMERICAN pastor) who months ago started an 8 year sentence for helping the underground churches in Iran)// LATEST Update: 'Pastor Saeed Abedini ’Glowing With Joy,’ Prayers Making a Difference, Says Report ," May 15, 2013) http://www.presidentialprayerteam.com/Prayerwatch?pw=1434 \ "More good news concerning U.S. Pastor Saeed Abedini has followed his release from solitary confinement last week, as reports have suggested the global support he has been receiving while in prison in Tehran, Iran, are helping him find joy and peace. Despite his suffering, Pastor Saeed’s faith continues to keep him alive.Other prisoners reportedly told Saeed’s family that when Pastor Saeed was released from solitary confinement, ’he was glowing,’ and that miraculously he ’was filled with more joy and peace after solitary’ than he was before solitary," the American Center for Law and Justice said in a statement."His release from solitary is a direct result of the multitudes praying," said the pastor’s wife, Naghmeh Abedini. "I am relieved my husband is out of solitary, but still am deeply concerned about Saeed’s health. While this is a small victory, I am still demanding justice be done and that Saeed be released." She added in the latest update that her husband’s improved spirits are due to the thousands of people around the world who continue to pray for him." (Sources: Christian Post, Global Dispatch) [NOTE: I find it interesting that just recently in my prayers, I felt led by God to pray that Pastor Saeed would experience JOY during his incarceration. It felt like a stretch but I obeyed. Is it a coincidence that I read Psalm 16 yesterday that says in v.11 which says "...you will fill me with JOY (my emphasis) in your presence,.."? No, it would to have been a God-thing.  - Stan]PRAY that Pastor Saeed might finally receive the medical  treatment he needs. PRAY that God would reveal himself to the pastor's  tormenters and turn them to Christ. PRAY that his family, esp. his children, will experience His strength and special presence during this time. And finally, PRAY that , when  God has accomplished His will in Pastor Abedini's suffering, he will finally be released 2) More than 550,000 people  from 180 countries have signed the petition to Save Saeed. Your voice has moved the U.S., the European Union, and many others to call for his releaseIf you have not already, please join over 500,000! who have signed the petition  for Pastor Saeed's release and tell your friends about it.  http://aclj.org/iran/save-american-pastor-from-iranian-prison-sentence  ALSO, go to Save Saeed.org and add your name to those sending letters to him.

"More Transparency Is Needed in Education," May 20, 2013; http://www.ncpa.org/sub/dpd/index.php?Article_ID=23190&utm_source=newsletter&utm_medium=email&utm_campaign=DPD

College has always been heralded as the ticket to a higher income and at least a middle class lifestyle. But with more than $1 trillion in student debt, parents and college students are now questioning the value of a college degree given the rising costs of college and an uncertain labor market. To help families make better choices in what is typically the second-largest investment a person will make, more information and transparency is needed, says Andrew Kelly of the Hill.
  • Only 50 percent of college students finish a degree or certificate within six years and many of the students will graduate with an enormous debt load.
  • According to the College Board, tuition at public four-year colleges grew 66 percent over the last 10 years, far outpacing financial aid and tuition discounts.
  • The median borrower now owes nearly $14,000, while the returns on college degrees have actually decreased over the last decade.
The Current Population Survey shows that inflation-adjusted income for recent college graduates actually declined between 2000 and 2011. With many college-educated individuals having a bleaker outlooks than in years past, several proposals highlight opportunities that federal policymakers have failed to capitalize.
  • Students should be informed about the different economic returns that different colleges and degrees offer.
  • For instance, students should be aware that graduates from science, technology and math majors typically out earn other degree holders and students who attend more selective colleges are more likely to graduate than those who don't.
  • Promoting this type of information would help battle the common assumption that any college degree will lead to a better economic future.
To track graduate return on investment, policymakers need to reconsider a ban on the federal government collecting individual-level data on college students. More information could be troublesome for some colleges but better-informed consumers might make better choices with their tuition dollars.
  • Politicians also need to examine the efficacy of the student aid programs, which total more than $150 billion.
  • With a handful of congressmen now supporting more transparency in higher education, students may soon have a better idea what to expect for their money.
[bold and italics emphasis mine] - Source: Andrew Kelly, "Students Need Better Information," The Hill, May 7, 2013.

"The Unknown Cost of Federal Student Loans," , May 2, 2013; http://blog.heritage.org/2013/05/02/the-unknown-cost-of-federal-student-loans/

Starting July 1, interest rates on federal student loans are set to rise from 3.4 percent to 6.8 percent. As Congress again considers preventing the interest rate on federal student loans from doubling, the cost to taxpayers should be a central issue. However, in a recent Issue Brief, Heritage analyst Jason Richwine points out that the federal government’s current accounting practices mislead taxpayers about the cost of loans. Actual costs are much higher than reported, but it is unclear just how high they are.

How is this possible? In budgeting for student loans, Congress faces the risk that students receiving loans will not pay the government back as expected. The government tries to estimate how much it will receive in loan repayments, but there is a substantial risk that those repayments will be lower than anticipated. Incurring risk comes at a cost to taxpayers, but current accounting methods ignore it.

The Congressional Budget Office recognizes this problem and has repeatedly argued for “fair value accounting,” which would reflect the full cost of student loans and other federal credit programs. Under the principles of fair value accounting, the price of market risk is added into cost estimates. It gives Congress—and taxpayers—a more accurate picture of the actual costs of student loan subsidies.This clarity would benefit taxpayers and allow Congress to make an informed decision on the subsidy expansion. It is unwise for Congress to expand the student loan program without a full understanding of the cost involved.
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[bold and italics emphasis mine]

Brittany Corona is currently a member of the Young Leaders Program at The Heritage Foundation

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