Great News for Online Education
Of the roughly 18.5 million college students in the U.S., 11 percent took most of their classes online in 2008, shows the study by EduVentures, Inc. Compare that to the 1 percent in 1998, and it’s pretty clear that popular opinions about online education are shifting. This big-name backing is fantastic for online education as a whole.

Mr. Welch had two extremely encouraging things to say about the program:

“I think it’s a real education,” and “I’m now a believer.”

This kind of support will echo throughout the halls (or servers, as the case may be) of online universities everywhere. It’s about time.

This new program isn’t the only good news for business-minded individuals, either. Hiring is up in financial institutions. It’s not skyrocketing, but progress is progress–and it’s better than more layoffs. So, go get yourself a shiny new Welch Institute MBA, and hop on the finance hiring train. Ladies and gentlemen, this is the beginning of the end… of the recession. (Not to worry, I’m knocking on my wooden desk vigorously.)

Yes, the Times Are Changing
A new adult education class in Connecticut is teaching social networking. For most students today, social networking is a way to lose credits (by Twittering, Facebooking, et cetera-ing instead of doing homework), but not for these folks, who are actually earning credits while learning how the younger generations communicate with each other. The question is: do you get extra credit for Twittering during a lecture? Or is my phone going in the June box again?

The Associated Press reported this about a recent survey:

71 percent of high schools reported that more of their students are forgoing their “dream schools” this year than in previous years. And there is little doubt money is a big reason. “With the exception of one or two students, it was THE determining factor in their decision,” one high school official wrote. Said another: “Parents were willing to pay for prestige in the past. This year they wanted prestigious schools IF the financial aid packages would work for them.”

Often, the trouble with dream schools is that the student applying is attempting to be upwardly mobile. This means that he or she might–just barely–make the cut for admission. Students who barely make the cut rarely find that they’re being offered much financial incentive from their dream schools.

I remember applying for college in a three-tier system: dream schools, schools I’d probably get into, and safety schools. The financial aid I was offered can be broken down respectively as: student loans, a fair amount, and a full ride. This is pretty typical, and in this economic climate, people (parents and students alike) want more debt like they want a hole in the head.

How Much Is That Fancy Alma Mater Worth?
Friends of mine with prestigious names attached to their bachelor’s degrees have one thing in common: they all went back to school for graduate degrees. Sure, their dream-school degrees helped them get into the various graduate programs, but once you get a higher-level degree (i.e., higher level than your previous degree) the focus shifts to your most recent alma mater.

I’ve heard it said more than a few times that it doesn’t matter where you get your bachelor’s degree–as long as you go to a good graduate school. Of course, you’ve got to do well in your bachelor’s program for this to be true.

Dollar–and Penny–Wise
Getting your degree from an online university could be just the option for students and parents looking pinch pennies for a while. Not only is it easier to work full-time (easier, not necessarily easy) while attending an online degree program, it’s often cheaper across the board. There’s no commute, no additional room and board, no parking fee, and no strict attendance policy keeping you from holding a job. If you’re looking to pinch pennies, online degree programs are the way to go.

With more and more people taking advantage of online programs, the general public’s acceptance of these degrees has grown significantly. This means that not only potential employers, but also that dream school you put off, will respect your degree when you hand over that CV.

Don’t give up on your dreams just because money’s a little tight lately. Just put them on hold until you’re in a better place to take full advantage of having that prestigious name next to your degree. It’ll look better beside a graduate degree anyway.

Education Inflation
A friend of mine moved to San Jose just in time to watch her job prospects dry up. She had just earned her master’s degree and had impressive academic qualifications, but her work experience left a bit to be desired. This is a common problem for recent graduates, and the recession made it all that much more difficult. Major lay-offs from major companies glutted the job market in San Jose. Thousands of highly qualified individuals were grabbing up every job that hit the market, leaving recent grads like my friend high and dry.

When unemployment spikes, companies have a lot more options for filling positions. The people applying for positions are more willing to take less pay, and they’re bringing with them extensive work histories. After an interview that she’d felt went rather well, this friend of mine talked with someone on the hiring committee. She found out that her competition for this entry-level position included candidates with decades of experience, some with doctorates. This sort of educational inflation is a product of a tough job market, and it’s hitting the internship opportunities just as hard.

Two Sides of the Coin
It’s usually best to go with the better qualified applicant when the choice is available, but when it comes to internships, isn’t remedying inexperience the point? An internship is quite a bit more desirable than a job serving food, no doubt about that. One has to wonder, though, how the undergrads going for the same internships are making out.

After my own graduation, I came to the realization that the program I went through really should have included a mandatory internship. Gaining relevant experience wasn’t easy, and there wasn’t the kind of competition there is today. While these post-grads are certainly doing well for themselves, we may be witnessing another shift in the job market. It’s been said time and again that the bachelor’s degree is the new high school diploma when it comes to getting work now versus fifty years ago. Only the coming years will tell whether or not the master’s degree has become the new bachelor’s degree, and over-qualified interns are not a good sign.

It’s a Flat World, After All
Globalization continues to get massive shots in the arm from technology. High speed, wireless Internet access is available everywhere you look lately, making the workplace more an abstraction and less a physical place. The world is getting flatter; i.e., thanks to instant communication, it doesn’t much matter where a company is located around the globe anymore.

Businesspeople are picking up on this. As America’s financial troubles continue, the appeal of foreign programs grows. Have the recent underhanded dealings of US-program graduates left a black mark on our schools? Yes and no. No matter how many business ethics courses anyone takes, it’s the person–not the program–ultimately responsible for all actions. If the general population felt that the schools themselves were responsible for our current issues, we’d be seeing angry, torch-bearing mobs demanding that deans, professors, provosts, and presidents step down. This, luckily, is not the case. Any sort of anti-education fervor is dangerous.

Bailing on Finance
Financial careers have taken a big hit lately, which means that a little diversification is necessary. Students previously focused on careers in finance are looking to work in major industries–like oil, retail, and consumer-goods companies–rather than trying to land careers as investment bankers, who have earned a bit of stigma lately.

Careers in industry require global contacts, which are more readily available when learning overseas, especially in the growing Asian and Middle-Eastern markets. While schools in the US are scrambling to increase the international programs they offer, the fact remains that foreign schools offer shorter, less-expensive programs and stellar networking opportunities.

It seems that America has–at least temporarily–lost the advantage of being the country that everyone has to come to for business. We’re still producing top minds, but they’re going elsewhere for education. Here’s hoping that they come back.

Don’t let memories of busy work and all-nighters scare you. Think of the good times. With the job market getting tougher every year, 2009 could be the year for you to improve your hand of cards. Nothing looks better than ambition when you’re going for a job, and there’s nothing like improving yourself to show you’ve got it. 

Maybe a new career is the ticket for you, maybe you haven’t even started any higher education. This is your year. Whether you decide to go online or head to campus, there has never been a better time to learn new skills or get a higher level degree. 

Keep it all in mind tonight as you count down to 2009. Do you want to give up chocolate or go for your degree? You might wake up regretting your self-imposed Lent, so make that decision to go back to school, and have a very happy new year.

We’ve all heard the horror stories. Some of us have even experienced them first hand. Two stories that come to mind for me involve, let’s call them, Patti and Steve.

In the case of Steve, he and I were working as baristas. Steve made fifty cents more an hour than I did, but only because he’d been with the company slightly longer, not because he had master’s degrees in art history and English literature.

Patti and I served pizza at a sit-down, gourmet pizza joint. We made the same amount of money (min. wage + tips). Patti had graduated with her MA in sociology while we were working together, but, alas, her pay didn’t change, nor did she bail for a real job.

Now, let’s keep in mind that better educated people typically do get paid more. This, though, depends completely on their job. In my two little horror stories, neither Patti nor Steve worked in an environment that paid better when they became better educated. Both seemed chagrined when their degrees were brought up in conversation. Was graduate school right for them? Well, it depends.

Steve had no idea where he was going or what he would do with his degrees, so no, not the best idea for him. Patti has applied for several positions with non-profits, which is what she was aiming for in the first place, so grad school was a good idea for her. She just happened to graduate during a recession, whoops.

As I was progressing through the various levels of my own education, I was told that grad school was the place to go if you wanted to stand out. Everyone was going to have a bachelor’s degree; it was educational inflation, and it made sense. Things, however, have changed.

Fewer people are planning to go to grad school, and the cost of a degree isn’t going down just because there’s a recession. If you think it’s time to get a better education, consider going online for it. It’s less expensive, you can work at your own pace, and you don’t have to put up with TA drama. Keep your field in mind, and do your homework before committing to doing classwork for the next several years.

What If You Can’t Do 5 Hours a Week?
Although 5 hours every week is my personal ideal, you should still stick with your coursework even if you’re under this average.  That’s because one hour of class is better than no hours of class.  Just be realistic about the leeway and flexibility that your program offers.  Many schools have general deadlines and time restrictions for their modules.

Actions Speak Louder Than Words: Play with the Widget
I could go on describing this salary tool, but the best way to become acquainted with it is to try it out yourself.  It’s available here.  Play with this widget and try different combinations of degrees and fields.  Share it with your friends and family members as well.  If you have a brother who’s thinking about becoming a physical therapist or a sister who wants to become a gourmet chef, you can tell them what to expect with regards to salary.

Online Degrees Combine the Best of Both Worlds
If you want to combine formal education with a fair amount of self-learning, online degrees offer the best of both worlds.  You benefit from specialized instruction, but online programs leave ample room to stray beyond the confines of the standardized curricula.  You can work at your own pace, enjoy unprecedented freedom, and pursue an incredibly broad range of courses as you work towards your degree.  By the time you graduate, you’ll have both the experience and the degree.

Gauge Responsiveness from Online Classmates
As you begin corresponding with people, be wary of those who don’t respond quickly.  We’ve all got busy schedules and I’m not saying that email responsiveness is an accurate indicator of commitment level.  But if it takes someone 5-10 days to get back to you, you might consider choosing other people to add to your group.

Gauge the Technological Savvy & Willingness of Your Classmates
Online technologies like IM and Google Docs make coordinating and communicating infinitely easier.  Whenever I select groups for school, I try to avoid those students who resist these collaborative tools.  You don’t necessarily have to love AIM or Yahoo IM, but you should at least be willing to work with them if and when necessary.