Top honoree rejects recognition based on choice of Obama as graduation speaker.

It is not often that someone turns down a prestigious award from a college like Notre Dame.

But then again, it is equally unusual that the presence of a newly-elected, highly-popular president, would be the catalyst for rejecting such an honor.

But that is precisely what Harvard Law professor Mary Ann Glendon has done. Citing the school’s invitation to Barack Obama to deliver the 2009 commencement address and plan to award the president an honorary degree, Glendon has politely said thanks, but no thanks to the university.

Initial Acceptance

The issue centers upon the conflicting position of Catholics and the president on the issue of abortion.

In December, Glendon, a former ambassador to the Vatican and a consultant to the U.S. Conference of Catholic Bishops had been selected to receive the 2009 Laetare Medal. Described by the university as the “most prestigious award given to Catholics” yearly, the medal recognizes those “whose genius has ennobled the arts and sciences, illustrated the ideals of the Church and enriched the heritage of humanity.”

Glendon, chosen as commencement speaker and given an honorary degree from Notre Dame in 1996, was at first pleased to learn of her selection last December. However, when she became aware that Obama was selected to receive an honorary doctorate and given the opportunity to give the commencement address, she found herself extremely dismayed.

From Critic to Absentee

Still, it appears that Glendon was set to attend, at least initially. Reports had the Harvard Law professor attending the ceremony and accepting her award so that she could take advantage of her opportunity to provide public remarks to criticize the president’s position.

But later, when it appeared that Notre Dame might utilize her presence at graduation as a step towards defending the school’s choice of Obama as commencement speaker, Glendon decided to reject the prestigious honor.

Directly citing the abortion issue, Glendon wrote in her university rejection letter that the choice demonstrated “disregard of the U.S. bishops’ express request of 2004 that Catholic institutions ’should not honor those who act in defiance of our fundamental moral principles’ and that such persons ’should not be given awards, honors or platforms which would suggest support for their actions.’”

Moreover, in her letter to Rev. John I. Jenkins, Notre Dame’s president, she noted that the university appeared to be seeking to use her to balance off the more recent, unpopular selection of Obama.

She first cited one of the Notre Dame talking points regarding the matter:

“We think having the president come to Notre Dame, see our graduates, meet our leaders, and hear a talk from Mary Ann Glendon is a good thing for the president and for the causes we care about.”

Then soundly rejected the idea that commencement was a place for dissenting views to be aired. She wrote:

“A commencement, however, is supposed to be a joyous day for the graduates and their families. It is not the right place, nor is a brief acceptance speech the right vehicle, for engagement with the very serious problems raised by Notre Dame’s decision—in disregard of the settled position of the U.S. bishops—to honor a prominent and uncompromising opponent of the Church’s position on issues involving fundamental principles of justice.”

Tough Position for the President

Given Obama’s ability to see the large picture, the rejection by Glendon, a professor at the president’s alma mater, has to be upsetting to him personally. In addition, the fact that such a prestigious honor, awarded prior to his being chosen to speak, would be summarily rejected on account of his being selected definitely puts the president in a very difficult position.

It is perhaps too late for either Notre Dame or the president to rescind. Most notably, if he does preside at commencement as expected, Obama will need all of his rhetorical skills and speech writing talents to ensure his presence does not undermine the spirit of the day for those graduating.

Most people will insist that college cannot be done without some form of financial assistance. That is most likely true for the vast majority of prospective college students.

However, the idea that one must borrow significant sums of money to earn that coveted diploma is not entirely true. In fact, it is possible to graduate with little, to no debt if you follow these five basic steps.

Earn Money While Attending College

While it is far more enjoyable to ease through four years of college study with a focus entirely on academics and your social life, the simplest way to minimizing debt is to work when you can.

During the summer months look to work two jobs if you can. Not only can you bank significant amounts of your earnings if you set your mind to it, keeping busy during the summer months helps reduce your spending tendencies. The result is a win-win.

In addition, plan on working, at least part-time during the school year. Working as little as 6-8 hours a week can produce ample amounts of ongoing spending money. Push it to 12-18 hours and you can actually earn enough money to pay next semester’s fees and book costs.

Lastly, research schools that offer co-op work options. Many schools are affiliated with specific industries whereby students can combine work and study options. With such a program, students earn money while working in their desired field or the company receiving work services helps pay a portion of the student’s college costs.

Select Your College Based on Costs

After countless hours of preparation, it may seem that your choice of college should be based on prestige. That simply is not the case in the long run.

What is true is a diploma from a prestigious school can help you with that first job. But thereafter, your value to any employer will be based on your performance.

If choosing a dream college means borrowing then you should rethink your choice. State universities offer quality educational options often at half the price.

Beginning your career in a financially stable position will allow you the time to prove yourself. If you accrue significant debt while in school, that debt will impact your career options for years to come, forcing you to choose employment based solely on pay.

Apply for Scholarships and Grants

Research every scholarship and grant option available to you, whether it be from your home town, your high school, your chosen college, etc. Then apply for every one that matches your situation.

This is free money, as good as any you can earn, and can go a long way towards reducing college costs. Also, many scholarships and grants are renewable: once you have obtained one, as long as you meet the academic expectations you may well receive the funds for all four years.

Be sure to research school-related options that pertain to your area of study. Some may not be available until your third or fourth year of school.

One, Paid-off Credit Card

As you enter adulthood, you will be besieged by credit card offers. Each will likely offer a free gift in return for signing up.

Select one card based on its cash back or reduced-expenditure percentage that makes sense for you. Some cards reduce gas purchases by a nickel a gallon, others offer cash back on all online purchases, still others offer travel benefit options.

Select the one card that works best for you and say no to all other cards. Limit your use to those purchases where it directly benefits you; otherwise pay cash to ensure you realize just how much you are spending with each transaction.

Most importantly, pay the monthly balance every month. Do not accrue interest or payment fees. Those costs can kill you, putting you quickly into a position where the card expenses are more than you can handle.

If you cannot discipline yourself to pay off the monthly balance, then cut the card in half and dispose of it. A significant amount of debt accrued by college students is directly attributed to the ease at which credit cards facilitate unwarranted discretionary spending.

Consider Living at Home

One of the biggest college expenses is the cost of room and board. Clearly, if you are attending school a significant distance from home, you will need to consider living on campus.

But living at home can save you significant sums of money. Many students are taking advantage of their community college network, living at home for the first year or two of study while earning their basic course credits.

For those who live near their state college, the same opportunity is available.

Living at home will limit the social options, no doubt, but college is first and foremost about earning a degree. Minimizing room and board expenses is an excellent way to reduce the costs of college and helping you graduate debt-free.

Graduate with a Secure Future

Earning a college diploma can be the catalyst to a wealth of career options but the debt you accumulate while earning that diploma can greatly impact those options. The best way to ensure your future is to minimize the debt you accrue while securing that coveted diploma.

With a little extra effort and a few sacrifices, it is possible to earn a diploma and remain debt-free in the process.

Last week we took a look at diploma mills and the sites that advertise degrees that will be awarded based on a person’s life experiences. Such a notion is of course a scam; instead, a fictitious university sells you a document that at first glance might resemble an authentic degree but really is nothing more than a worthless piece of paper.

While the idea of awarding a degree based solely on life experience is ludicrous, some authentic colleges will consider awarding credit to students for some of their past life experiences and/or prior educational experiences.

The key to receiving credit for prior experiences from schools is for the potential student to somehow demonstrate that he or she has indeed mastered the material associated with a specific course or courses.

Assessing Prior Learning

In simplest terms, colleges and universities will consider awarding credit for knowledge that has been gained through life experience or prior educational experiences. To determine whether a student has acquired the specific knowledge and skills associated with a course that is taught at the collegiate level, schools use two separate methods of assessing.

Learning Portfolios

One option is referred to as a learning portfolio. A learning portfolio is a collection of written documents that demonstrates a student has learned the materials that would be presented in a specific college course.

To receive credit for a portfolio, the materials contained within must demonstrate college-level learning. In other words, they are not materials that could be associated with a typical high school course or some remedial course given through a continuing education program.

Generally speaking, such a portfolio often begins with a list of the specific learnings for which credit is being requested. Once the list is presented, students generally complete an essay or learning request statement that notes how their prior learning relates to both the degree program and the course for which they are seeking credit.

The portfolio must also contain some documentation that a student had actually learned what he or she claims to have learned. It could be in the form of certificates from various training programs or letters from employers that attest to the skills and knowledge a person has obtained.

In some cases, the portfolio may be part of a sequence of courses where a student takes sections of one, two or three courses while preparing a portfolio that helps them demonstrate knowledge of the other sections taught in those respective classes.

In many instances, students then present this portfolio orally to a professor, a college official or a committee of combined college representatives. At that time, those observing may ask specific questions regarding the portfolio.

Without a doubt, preparing such a document can be time-consuming. It can be particularly difficult to locate specific artifacts to place in the portfolio that offer evidence of specific knowledge.

Even so, if students believe they have the knowledge and skills associated with a specific course, they should definitely examine the portfolio opportunity. There is no doubt that it will be less of a time commitment to prepare a portfolio then it would be to attend and subsequently meet all the course expectations of any legitimate college course. Most importantly, it could easily save a prospective student hundreds to a thousand dollars (the cost of having to pay tuition to take the course in the traditional manner).

Testing Out

Another typical way of earning credit for outside learning is through the use of some standardized test or tests. These tests can be national-standardized exams, state-standardized or even university-standardized. The reason for standardization is to have real data regarding what represents a passing grade and the fair awarding of credits.

One of the typical tests used is the College Level Examination Program or CLEP test. These exams are offered through the College Board and cover a number of different general subjects: mathematics, English composition, humanities, natural science, and social science and history.

There is also a second type of CLEP exam that is subject specific. For example, students could take a subject exam for Biology, a test that would cover the material typically taught in undergraduate, college-level Biology course.

For CLEP exams, depending on the school, various amounts of credit may be awarded depending on the student’s score.

Another such test that might be used is the Graduate Record Exam or GRE. This is the exam typically used to assess a student’s ability to enter graduate school.

However, given that the test is used to determine mastery of college level skills, some schools use it as a method for assessing prior learning. Depending on the school and the student’s request for credit, students could be asked to take the general GRE test that measures a variety of general skills or a subject-specific test that measures achievement in a particular field.

Some schools will also consider a student taking an exam created by the school for specific courses. For example, professors might get together to create a comprehensive final for introductory calculus and all students, regardless of who their instructor was during the semester, take this exam at the completion of the course.

Such a test may also be made available to students who believe they have mastery of such a subject and a passing grade on the exam be used to award the student such credit. In certain instances, schools may administer this test orally rather than in written form.

In other cases, the constructed test might be a departmental level exam that is more comprehensive. For example, engineers generally must take three separate calculus courses as well as differential equations.

Within a school, the engineering department may prepare a comprehensive exam that would test mastery of these four courses as a block and subsequently award credit for all four if a student passes the exam. Such a concept is also often used within foreign language departments to determine the level of expertise of a student in a specific language and allow that student credit for several introductory-level courses.

In addition to the aforementioned test options, vocational schools often have job-related assessments that demonstrate advanced standing in a certain technical field. These assessments are generally standardized at the national level and can be used by students to demonstrate knowledge of specific entry level classes.

And lastly, anyone who has served in the military should investigate the Defense Activity for Nontraditional Educational Support or DANTES program. DANTES is a recognized program that can help a student earn credit for the materials commonly taught in introductory college courses.

Be Prepared

If students are considering one of the test options, it is important to prepare accordingly. Pursuing practice materials for standardized tests represents an excellent way to prepare for these types of exams.

For college-created exams, students should request a syllabus and reading list to be certain they clearly understand what will be tested. Students should then review those materials carefully and spend whatever time is necessary to review and read up on areas that they do not recall with ease or topics that may seem vague.

Ultimately, either through a portfolio or an exam, students can often obtain credit for coursework provided they are able to demonstrate mastery of the materials. While schools may limit the total number of credits that can be awarded through exams and/or a portfolio, or a combination thereof, every course for which they can gain credit places them closer to earning their degree.

And potentially save countless dollars in the long run.

There are those news stories that really give you pause. And we are not talking about those AOL headliners mind you, the ones like “NASA astronaut insists government covering up evidence of alien visits.”

What we are talking about is the latest news regarding college students and credit cards. According to a study from Sallie Mae, many students are now using credit cards for almost all of their college expenses, including tuition.

Talk about giving one pause – we might have expected students charging books and fees on their card. But we could never imagine anyone in their right mind putting their tuition on one, not with those cards carrying anything from 14.99 to 18.99 percent interest rates.

The Numbers

Today, Sallie Mae notes that more than 84 percent of undergraduates have at least one credit card. Half of all college students carry four or more cards with the current average at 4.6 per student.

An incredible 92 percent of all undergraduates with a credit card charged textbooks, school supplies or other education expenses. College seniors led the way with an average credit card debt of $4,100.

According to the report, “How Undergraduate Students Use Credit Cards: Sallie Mae’s National Study of Usage Rates and Trends, 2009,” students charged an average of $2,200 in direct educational expenses per person, more than double the $942 amount from four years ago. Of those charging educational expenses, roughly 30 percent actually placed tuition on a credit card as well.

Terrible Choice

While many students were using the cards for convenience, the overall findings of the study pointed to college students using credit cards to live beyond their means. In fact, 82 percent of the students incurred finance charges by carrying a monthly balance.

In a clear indication that credit management was a huge problem, roughly 40 percent indicated they had charged items even though they knew they did not have the funds to pay the bill.

Given the going interest rates and monthly charges of as much as $30.00 for transactions beyond credit limits, the idea that students would place their tuition charges on their credit card demonstrates a real lack of knowledge regarding how credit cards work.

There is no doubt that credit cards offer great convenience. No need to fill out the FAFSA forms and no need to complete additional paperwork to apply for a loan. Add in the ease of online payments and the process is indeed extremely easy.

But credit card interest rates of 15 percent are more than double the current rate for Federal Stafford loans (6.8 percent). Even private loans, considered the least advantageous of loan options carry current rates of only 8 percent.

The result is that credit card users are overpaying for college big time. Unless a student pays off his or her card in full, by placing these charges on a credit card he or she is paying far more than the list price for books, fees and tuition.

College, Expensive Enough

There is no doubt that college expenses are extremely taxing – however, students should be aware that using credit cards to cover these costs only makes the costs of college less manageable in the long run.

First and foremost, students need to build a budget ahead of time that tallies the cost of tuition, books, fees and travel. Once the need is determined, students must pursue the most advantageous funding help available.

That means completing the FAFSA, the standard federal form that is the ticket to potential grants, scholarships and federal loans. Filling out the FAFSA form does take time but it is a must for any serious student.

Even if students do not qualify for grants or scholarships, the first credit option everyone should pursue is the Federal loan program. Simply stated, they represent the best borrowing bargain.

Only after completing the federal application process should students pursue the more expensive private loan option. Such loans carry higher interest rates and other processing fees may be assessed depending on a student’s credit standing.

Still, private loans are a bargain compared to the fees and rates associated with credit cards. Unless a student has a wealthy friend or relative paying that credit card bill for them, placing one’s tuition on a credit card is a recipe for disaster.

In fact, it is as preposterous to us as that NASA astronaut claiming our government is hiding evidence of intergalactic visitors.

Editors note: The full study is available in PDF format online.

During the latter stages of the Bush presidency, the outgoing president sought to put a positive spin on his ultimate legacy. In fact, throughout his tumultuous years in office, the outgoing president insisted that as time passed people would judge his accomplishments more positively.

Any chance for such a development seemingly went out the window over the last ten days with the emergence of the so-called torture memos.

Loss of Moral Bearings

With the release of the paper trail authorizing the brutal interrogation of terror suspects, President Barack Obama has opened the door on an administration that gave little thought to the long-term ramifications of its actions.

Leaving the option for prosecution to the attorney general’s office, Obama has clearly differentiated the issue into two categories: those who approved the harsh interrogation tactics and those who carried out the program at the behest of the Bush administration.

The release of the materials has most of the former administration scrambling. In an effort to dissuade the growing criticism, Bush Vice President Dick Cheney has attacked Obama for releasing the Justice Department memos maintaining that the methods helped protect the nation.

Three men currently seem to be most at risk of prosecution because of their role in formulating the legal decisions behind the interrogation methods. The three men are former Justice Department officials Jay Bybee, John Yoo and Steven Bradbury.

Bybee is currently a judge on the 9th U.S. Circuit Court of Appeals while Yoo is a professor at the University of California-Berkeley. The professor has already drawn a great deal of scrutiny on campus with some calling for the firing of the tenured professor.

While the men will clearly take the position they were simply doing their jobs, legal experts have suggested that the men could face charges that include conspiracy to commit felonies including torture. Newspaper reports also indicate that Bybee also could face impeachment in Congress.

New Report

Adding to the issue for the former administration is a new declassified Congressional report. That report offers detailed evidence that the “military’s use of harsh interrogation methods on terrorism suspects was approved at high levels of the Bush administration.”

This report centers upon the interrogations carried out by the military as opposed to those conducted by the Central Intelligence Agency. Offering an extremely damning portrait of former Defense Secretary Donald H. Rumsfeld and others, the report rejects claims that Pentagon policies played no role in the abusive treatment of prisoners at the Abu Ghraib prison in Iraq.

According to the Senate investigation, Rumsfeld approved 15 interrogation techniques to be utilized at Guantánamo Bay, Cuba. The report then tracks Rumsfeld’s authorization through a United States military special-operations lawyer in Afghanistan to the interrogation officer in charge at Abu Ghraib.

This led directly to Lt. Gen. Ricardo Sanchez authorizing the use of stress positions, “sleep management” and military dogs to prey upon detainees’ fears.

Not too surprisingly, former Secretary Rumsfeld has dismissed the report calling the findings unfounded allegations.

Time to Right Some Wrongs

While Republicans continue to fight any further scrutiny of these sordid matters, Democratic lawmakers and human rights groups are demanding hearings. These groups want to see punishment for those involved in sanctioning brutal interrogations that were tantamount to torture.

While the focus currently centers upon Yoo, Bigbee and Bradbury and the potential consequences for their actions, there now has to be a call to review the cases of some punished individuals.

If the president continues to maintain that those CIA officers that carried out the harsh interrogation techniques are not to be prosecuted, then it would seem only right to re-examine the military hearings related to the treatment of prisoners at Abu Ghraib. Clearly, the actions of the military personnel punished for their behavior at the famous prison were not, as the administration contended at the time, the actions of a few rogue individuals.

Janis Karpinski, the commander of Abu Ghraib, who was demoted for her lack of oversight regarding the abuse should have her case re-examined. And the seven soldiers who were convicted in courts martial and sentenced to federal prison should also have their cases opened in light of these revelations.

It is clearly way too early to judge the Obama presidency despite the onslaught of criticism coming from former VP Dick Cheney.

But if our former president was in hope that time was on his side, that his presidency would be judged more positively with the passage of time, it is now clear that time will only cast further clouds on his administration.

Given his authorization to torture prisoners, his name is now being mentioned in the same sentences as Pol Pot considered one of the most evil men of all time.

At least once a week, in my GMail inbox, I receive an email that goes something like this:

Buy a College Diploma, Get a 100% legal,
verifiable Degree in 10 days.
No coursework or exams.

No Examination!
No Study!
No Class!

These diploma mills insist that you can earn that coveted diploma provided you have significant life experience.

Earn a recognized University Degree
based on work or life experience within 7 days!
Get your desired degree on the basis
of your Prior Knowledge and Life Experience.

Then, to really drive home the illegitimacy of these proposals (as if the improper use of capital letters throughout the email were not enough of a signal), you get this closer:

No Experience? No Problem!

We will get back to you real soon

Giving Online Education a Bad Name

These diplomas mills give online education a bad name. The idea that a degree based simply on life experience is clearly a bogus concept.

You fork over a decent sum of money (a few hundred dollars) and some college named St. Regis sends you a piece of paper that does tend to look official. Occasionally, a human resource office may be temporarily fooled, the important aspect being temporarily fooled.

These degrees are of course worthless and can never be equated with the work associated with earning a real college degree. After purchasing one of these bogus diplomas, not only will you be out the money you spent, you put your entire future in jeopardy if you try to pawn these off as the real thing.

While most purchasers try to plead innocence to any misrepresentation, employers will see anyone trying to pass these off as the real thing a major player in the sham.

Valid Online Programs

A school with online degree programs would never offer any such promise as “No Class, No Exams, and No Studying.” In fact, most students are surprised to learn that legitimate online programs can be very demanding.

Of course, college requires rigorous learning and online programs will mirror that expectation. You will be expected to complete all required coursework, work that can include online lectures and podcasts, written assignments and even exams in certain cases.

However, two aspects that diploma mills will use to entice potential buyers are two elements that online programs may feature. One feature of online programs is greater flexibility than one generally sees with traditional programming.

The notion that work can be done “at your own pace, on your own schedule and at your own convenience” is in fact one of the key aspects that makes online programming so enticing. Students work from remote locations and at a time of day or on those days of the week that fit their personal work schedule. Many online institutions also offer rolling admissions meaning flexible start and completion dates.

In addition, it is possible to earn credit for prior work experience or coursework. But to receive this credit, the school will expect applicants to demonstrate knowledge of the material through exams or a portfolio presentation. Then, applicants will receive credit for only specific elements, subsets of certain courses or perhaps a specific class.

All remaining courses will need to be taken – the idea that an entire degree or even a large portion of a degree program can be waived based on life experience is simply not true.

Online Education Here to Stay

The conveniences offered by online programs are extensive and those conveniences guarantee that online education is here to stay. Once the bastion of a few national online, for-profit schools, the demand for such courses and degree programs now has many larger universities offering online educational options as well.

These programs may be perfect for the person who needs to work while pursuing their degree. And once earned, these diplomas can be the real catalyst to a better job or a position of greater responsibility.

But if you are considering such a program, be sure to do your homework. Find accredited schools and be sure the accreditations are in the field you will be pursuing. Many schools have only certain programs that are credentialed so it is imperative to do your homework.

And as part of that homework, be sure to dismiss any thought of forking over a large sum of money to purchase a worthless piece of paper from one of these sham diploma mills.

Let’s face it, some folks don’t give a whole lot of thought to how their web site bloated with advertising appears to the average reader. However, some sites are so littered with selling that you find yourself turning away from the site before really examining specific content.

Then again, perhaps you are someone who really doesn’t care much for the idea of ads in the first place.

If so, you will likely want to download a copy of AdBlockPlus to get rid of as many of those intrusions as you can. And today, if your heart desires, you can go one step further, and make a personal statement with yet another application that replaces those advertising eyesores with art work from a variety of creative folks.

AdBlockPlus

Downloading a copy of AdBlockPlus will block 80-90% of those ads cluttering your favorite reading material. The software features a pre-determined list of ad materials to block depending on your home country.

AdBlockPlus simply whites out the majority of the ads, creating blank space. The feature not only eliminates the advertising that serves as a distraction, it reduces the overall visual clutter that is often pervasive on web sites today.

While AdBlockPlus fails to white out all, it is constantly being updated, a step that allows it to perform better with each passing upload of a site. A typical page features more than a 100 ads – more often than not, with AdBlockPlus that number will be reduced to single digits.

Add-Art

Those who have pursued a download of AdBlockPlus or now think they may want to pursue a download and are also using Mozilla as a web browser may also want to go one step further by pulling in a copy of Add-Art. Developed in the Eyebeam OpenLab, Add-Art is free and in the public domain just as AdBlockPlus.

The program takes the white out feature one step further, replacing the advertising clutter with art. Featuring material from art shows that are hand selected by curators of contemporary artists, the idea is to bring this work to a wider audience in a way that also provides a positive service.

The Add-Art folks insist they will bring new art shows to readers every 2 weeks. As for that art, users must understand that the software platform and the art represent separate entities. It is of course possible that you may like the concept, replacing the ads with art work, but not like the art work that is being chosen to replace the ads.

Techies May Want to Pursue Next Generation Concepts

For most of us, the chance to eliminate the ads and replace them with white space is more than enough. However, those with a creative flair will likely be enamored with the chance to import new art in a random manner as they surf their various internet sites.

But the real future could lie in giving the user more choices as to what they might replace the ads with. A program that allows the user to select from a bank of image clusters (let your imagination run here) would take the experience one step further.

Adding multiple options to get to a variety of styles that users could select depending on their whim is more in line with the current move towards giving the user complete control over their web experience.

Of course, the reverse is also true. Given the importance of advertising for sites, there will likely be yet another generation of programmers who seek to find other ways to ensure those ads appear in some manner.

The recent economic downturn has Americans thinking very differently about the process of borrowing. In what just might be the silver lining of the current crisis, the idea of creating extensive future debt obligations has both students and college trustees rethinking recently-accepted borrowing practices.

Borrowing for College

The first concern centers upon the amount of debt students have been taking on as they pursue a college degree. While most students have always needed some financial assistance to be able to attend college, the level of debt many students have recently been willing to rack up while in school has truly gotten out of hand.

Today, the median debt load for a student earning a bachelor’s degree is about $20,000 while the average now exceeds $21,000. Most alarmingly, roughly one-fourth of all undergrads borrow more than $25,000 and a tenth borrow more than $35,000.

If the choice is made to attend graduate school, then students generally add tens of thousands of dollars to the accrued debt. Depending on the graduate degree program students pursue, the current average debt for graduate degree students ranges from $42,000 to more than $125,000.

However, a student loan for school is often referred to as “good” debt because it is an investment in one’s future The reason is simple, upon earning a college degree, you will have the chance for a better job and far greater earnings than a person without a degree.

But many students are starting to realize that those greater earnings still may not be enough to pay off the debt incurred while securing that degree. All too often, students are finding their debt obligations from school eating up such a large portion of their pay check that purchasing a home or starting a family is beyond their financial means.

Colleges Borrowing

On the flip side of student’s borrowing, it seems that colleges themselves have also been incurring significant debt in recent years. Now, amidst the current economic downturn, some colleges face financial perils.

According to the folks at The Chronicle of Higher Education, “June 30 could be a day of reckoning” for many colleges. What makes the issue so compelling is this day of reckoning is one that most never saw coming.

Effectively, the competitive rush for top shelf facilities led many schools to borrow tens of billions of dollars over the past ten years. With their borrowing, many schools created extensive debt obligations against the potential for future earnings.

However, the financial downturn has made it tougher for students to attend school and thereby has greatly reduced projected future returns. At the same time, in the process of borrowing funds, colleges used the existing value of their facilities and endowments as asset collateral. Here again, the recent downturn has greatly reduced the value of these assets.

With large liabilities accompanied by shrinking assets, some schools are now finding themselves in violation of specific bond or loan requirements. At the same time, with banks and lenders under pressure, cash-strapped colleges are not as likely to be given forbearance should it be requested.

According to the Chronicle, the result could create a situation where bondholders subsequently “demand immediate repayment on part or all of an institution’s bonds.” In addition, in the cases of a school facing variable-rate debt obligations, those institutions holding a loan could legally hike the interest rate exacerbating the debt repayment challenge.

To repay these loans on the quick, schools must then turn to their endowments for cash, a factor that then further reduces their assets and thus increases their debt to asset ratio.

Beyond the debt obligations themselves, strapped schools could ultimately violate the eligibility standards set by the U.S. Department of Education for federal student aid. Any college so indebted as to lose eligibility to receive federal student aid would soon find its enrollment falling through the floor. That drop in enrollment would further exacerbate the debt repayment issue to the point that the school would have to cease its operations.

Carefully Consider Any Debt Contract

Any incurred debt carries with it an expectation of repayment, plus some additional cost (interest). Debt also generally requires some type of collateral in case the borrower defaults on the repayment expectations.

It is extremely important that students understand that debt is ultimately a claim against future labor and earnings. The borrower essentially gains something immediately but in turn makes a pledge to pay for that something down the road.

The recent economic downturn has hopefully taught many people a great lesson. First, as many have recently found, there is no guarantee that those future earnings will in fact be enough to meet the debt commitment. Second, if you default on that commitment, you will lose your collateral as well as your credit rating.

The number of home foreclosures and businesses filing for Chapter 11 combined with the current issues facing institutions of higher learning serve as a great reminder to us all: entering into debt is not to be taken lightly.

Today’s job market is extremely tough – so we will forgive those graduates who set aside their green philosophy to consider any available work. But if green is your color and your mantra, then you are not one who will forgo your commitment to a greener world just because of a tough job market.

At the same time, environmentally-conscious graduates must be careful to investigate the full corporate philosophy of a company to be sure that the public persona is in fact commensurate with that corporation’s business practices. If green is in fact your color, you don’t want to be fooled into taking a job at a business better known for its “greenwashing” practices.

Greenwashing

“Greenwashing” is the term used to describe the misleading practice of publicly claiming to be working on being better stewards of the environment even as some of a company’s real time practices act to pollute. In other words, these company’s public relations campaigns tend to be more about rhetoric than a real green commitment.

That said, it is important to recognize this is not about illegal behavior. It is just that within their industrial practices these companies contaminate either the air, the ground or water by discharging pollutants, some that are potentially very toxic.

At the same time that their industrial practices are less than stellar, these companies may fool the general public by virtue of using a large fleet of hybrid vehicles or harnessing significant amounts of energy from the sun through solar panels. They may also give off a green vibe by donating to environmental non-profit causes.

Therefore, “greenwashing” is about style over substance.

Measuring Greenwashing

Those graduates with a green philosophy currently out looking for jobs can turn to the web site 24/7 Wall St for a review of the top ten “greenwashers.” The list represents a number of corporate giants and traverses across several different fields.

The method used to determine the top ten “greenwashers” by the web site included a look at each corporation’s public documents including advertising, press releases, and websites. In addition, they took a look at each company’s lobbying practices.

To determine the pollution effects, 24/7 Wall St. queried the Toxics Release Inventory (TRI) program’s public online database. The database consists of the annual collected EPA data regarding the release and transfer of specific toxic chemicals and the waste management activities at specific industrial locations.

Using the database, 24/7 Wall St. “identified the companies which released the largest amount of toxic chemicals according to 27 different industrial codes identified by the EPA.”

Along with the TRI program, 24/7 Wall St. used other databases including the Political Economy Research Institute’s Toxic 100 index. In addition, they took a look at case law and settlements related to environmental issues as well as a company’s response to environmental concerns raised by agencies and the public.

If Green Is Your Color

So if green is in fact your color, so much so that it will impact your career choice, then you will want to think twice about applying for work at one of 24/7 Wall St.’s ten “greenwashing” giants.

Amidst the struggling economy, 2009 applications for Teach for America are up 42 percent (35,000 additional applicants). At the same time that those program application rates were soaring, the number of currently-employed teachers facing the possibility of layoffs come fall was also growing.

Those potential job losses have led at least one teacher’s union to publicly say, “thanks, but no thanks,” to Teach for America recruits.

Community Service at Full Pay

For those unfamiliar with the program, Teach for America seeks to solicit college graduates aspiring to other careers for a two-year service commitment to the teaching ranks. Those selected to the 20-year-old program historically have been given assignments in inner-city schools or underprivileged, rural areas of the country.

The fundamental premise of the program is to place high-performing college graduates into teaching locations where qualified applicants simply are not available. While these would-be instructors must commit to only two years of teaching, a second goal of the program is the hope that these individuals may ultimately make the profession a career.

With the limited job market, this year many additional graduates have put aside their career aspirations to consider this two-year commitment to teaching.

While the program is touted as community service, Teach for America differs greatly from other Americorps service options. The fundamental difference is that volunteers in the Teach for America program receive the same pay and benefits as any other starting teacher. In Boston, that salary is about $46,000.

On top of that, Teach for America program members receive the other perks that accompany service-oriented options – the traditional benefits of loan forbearance (the postponement of loan payments) and an education award of $4,725 at the end of each year of service. Over two years of service, that comes to a potential of $9,450 that may be used for future educational expenses or towards the repayment of qualified student loans.

Teacher’s Union Furious

In Boston, 20 new Teach for America program applicants have been hired. At the same time, the city, in the midst of enormous budget struggles, has laid off a significant number of teachers.

The sum total of these events has the local teacher’s union up in arms. The fact that these 20 individuals are being guaranteed jobs for two years without having undergone full certification requirements has resulted in union personnel offering some extremely strong remarks.

“We are not disturbed but furious that the department would lay off teachers with excellent credentials and bring in people with no experience and little training,” stated Richard Stutman, the president of the Boston teacher’s union. “They are sending a very bad message to teaching staff.”

William Horwath, acting assistant superintendent for human resources in the Boston public schools, insists that the Teach for America recruits will be assigned jobs that laid-off teachers are not certified to fill: math, science, special education and English as a Second Language.

However, the union insisted that was not true, that some of the 20 assignees were going to receive assignments in the popular areas of English, elementary education, and history.

Teach for a While

Because the Teach for America program consists of only a two-year commitment, the program has derisively been dubbed by some as “Teach for a While.” Those using that expression often insist that the recruits are using the program to simply pad their resumes.

In Boston, the focus has remained on the job loss of credentialed teachers. But in Detroit, where some groups are working towards reviving Teach for America in the city, Keith Johnson, the union’s president went off on the teach for a while notion.

“We don’t need educational mercenaries. We don’t feel people can ride in on their white horses and for two years share the virtue of their knowledge as a pit stop on their way to becoming corporate executives. Some don’t last their first year.”

Contrasting View

Most of the students entering the program have to be taken aback by such a viewpoint. Certainly, most who make the decision to apply are inspired by the chance to make a difference in the lives of public school children.

As for the program’s effectiveness, one Urban study examining North Carolina high schools between 2000 and 2007 was highly supportive of Teach for America. The study found that the program recruits were more effective than teachers from traditional teacher training schools in boosting student achievement.

The report attributes some of that success to the academic credentials the recruits bring with them to the classroom. That strong academic background appears to more than offset the brief five-week teacher training program Teach for America recruits go through in preparation for their assignment.

Challenging Assignments

Teach for America recruits typically receive very challenging teaching assignments. The norm is often a classroom with limited supplies and a student population that sees school as a problem rather than a solution.

It is an environment that has been known to bring even the most inspired candidate to his or her knees, multiple times, over the course of the two-year assignment. That difficult assignment seemingly would be borderline impossible if the other adults in the building are voicing open opposition to the recruits very presence.

However, for now, neither the union nor Teach for America appear ready to change course.