Last Saturday, the name of Georgetown’s career center officially changed to the Charles M. Cawley Career Education Center. Who the franc is that, you ask? Well just you wait, dear readers, because you’re about to find out! Cawley (COL ’62) is a longtime (50 years longtime) donor to the University who also funds and supports several […]
Earlier this week, the Student Life Report committee released their finalized 50-something page document about student life. The report primarily focuses on the advisory boards and GPB, but does summarize intellectual life and administrative accountability too. You can find the entire report at the end of this post, but in case you don’t want to […]
After yet another disappointing failure to break the top 20 universities in the country and an international ranking that we really don’t want to talk about, Georgetown was hit with yet another blow with the most recent list of college rankings to hit the Internet. Campus Grotto released their annual list of the most expensive […]
Yesterday, the U.S. District Court for the District of Columbia handed down a 63-month prison sentence [PDF] to Reginald A. Clark, 42, a former accountant for the Hoya Federal Credit Union, who was convicted in February for embezzling over $200,000 from the institution. Between 2001 and 2003, Clark exploited weaknesses in the credit union’s computer […]
President DeGioia announced today that Michael K. Barry, former chief investment officer of the University of Maryland System Foundation, would become Georgetown University’s CIO. As the CIO of the UMSF since 2005, Barry managed the investment funds of 21 Maryland state universities and community colleges. Before starting at the foundation in 2003, he was a […]
Yesterday, Georgetown announced that it received $87 million—the largest gift in University history—from the late Virginia Toulmin. Toulmin, who passed away in June, donated the money to the University’s medical center with instructions that it be used to support medical research. The gift will fund the Warwick Evans and Mary Mason Washington Evans Medical Research […]
Last week, Georgetown University Alumni Student Federal Credit Union crossed the $16 million mark in its managed assets. The milestone is the highest in the credit union’s 27-year history. GUASFCU, the oldest and largest student-run financial institution in the country, saw its assets grow 37 percent over the last year. “GUASFCU’s growth has been driven […]
Textbooks are perhaps the biggest first-year expense that students can control. Yet at the beginning of every year, a Disneyland-sized queue of freshmen—and upperclassmen—inevitably winds around the upper floor of the bookstore. After handing over shrink-wrapped copies of Accounting and Econ textbooks, students can find themselves paying well over $1000 dollars for books. When the […]
Worried about the high cost of a Georgetown education? Bloomberg Businessweek’s recent article about the value of college degrees may make you feel a bit better. Businessweek, in collaboration with PayScale, collected information on the incomes of alumni from over 550 schools, and combined this with the cost of attendance to calculate return on investment […]
Thanks to our grant, everyone at Georgetown will now look like this Next time there’s a calamity on campus, thank the U.S. Department of Education: they just gave Georgetown a $549,302 grant for emergency preparedness initiatives, according to Blue & Gray. The money will go towards funding training “evacuation processes, infectious disease outbreaks, threat assessment […]
President Obama’s proposed overhaul of the student-loan industry has ruffled more than a few corporate feathers and elicited the dreaded “S” word from people not named Rush Limbaugh (though I’m sure Rush would oblige if you offered him some Vicodin), so it’s high-time we provided a curt rundown of what the President is talking about. The BS-free version:
Under the current system, students choose among three different types of loans: federal direct loans made by the government, federally guaranteed loans made by banks and other private lenders, and non-guaranteed loans from private lenders. The government currently subsidizes federally guaranteed loans given by private lenders such as Sallie Mae, the largest student lender in the nation, while guaranteeing the amount loaned—effectively cushioning the lender from virtually all risk associated with lending while allowing private lenders to reap a healthy chunk of change in the process.
In short, it’s a pretty sweet deal for lenders that get a piece of the pie (read: Sallie Mae), but abuses and inefficiencies in the student-loan industry have caused many to doubt the efficacy of the current system.
More financial nitty gritty after the jump.