6 Hopeful and 4 Scary Trends for Grad School Grants

Rebounding economy holds hope for more graduate student financial aid.

March 15, 2011 RSS Feed Print
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5. Economic rebound: Incipient economic growth and rebounding investment markets are raising the prospect of easier graduate funding. Donations to colleges rose slightly in 2010, allowing some, such as Columbia, to raise graduate student stipends. A few major employers, including Ford and General Motors, have reinstated tuition reimbursement programs in recent months. Ph.D.s in recently moribund humanities fields say they are starting to see an uptick in hiring. Though it is nowhere near the level of a decade ago, "academic employment has rebounded" from 2009's dismal lows, says Jim Grossman, director of the American Historical Association.

6. Continuing demand for undergraduate degrees: Undergraduate enrollment has grown strongly throughout the recession. Though colleges are experimenting with teaching software for undergraduates, there's increasing demand for writing-intensive courses, which require human graders, signaling long-term demand for college instructors with advanced degrees.

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It's fairly unfathomable that schools such as Columbia and Yale, with endowments upwards of 8 BILLion and 16.5 BILLion dollars respectively, feel the need to cut back on the amount of funded PhD students they have...

With numbers like that, one can be pretty sure that some "creative accounting" could be done to keep the 2-5 extra PhDs they probably cut out per department. Seriously, when one considers there are approx. 30-40 (say 35 av.) departments that have cut, and let's assume 2.5 PhD fellowships, so, about 87.5 total people will not be admitted for PhD work..so, let's say each Grad Fellow costs the school 660K (6x110K/yr) for total support to earn his/her degree, that's about $57.8 million overall...With an endowment of 8 billion dollars, the interest alone, even at a conservative average of 5% for all investing, yields $400,000,000 a YEAR (Columbia actually has similar numbers of $7.8bil for their endowment with $390mil/yr with spendable income on their website).

No matter how one looks at it, it's ridiculous that schools such as these should be cutting ANY PhD fellowships since $57.8mil out of $2.4bil over six years is a mere drop in the bucket.

GPH of CA 6:43PM January 16, 2012

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