It's been yet another busy week in the world of college and graduate admissions. Let's take a look.
- The debate continues over the value of an MBA versus a one-year Master's in a business-related field. The Wall Street Journal reports that many students are switching their plans to include the shorter, less expensive, M.A. alternative, rather than pursing an MBA. Specialized business degrees require only one or two years of prior work experience, run only 12 months long, and often cover a lot of the same material covered in a two-year MBA program, although usually more focused on the technical and less on general management. In the post-graduate job search, an MBA (for now) is still preferred among most businesses, although the edge an M.A. holder provides for being highly skilled in a particular subject is quickly gaining recognition and respect in the job search.
- How much is a college diploma worth these days? The Wall Street Journal tackled this hotly debated question as well this week. As tuitions become more and more pricey every year, students and parents are growing increasingly wary about the value of the college experience and the college degree. There are, however, still benefits to holding a B.A., despite the high price tag that comes along with it, says WSJ reporter Sue Shellenbarger. These benefits include a higher paying job (up to 60% higher) upon graduation, the benefits that a rich, well-rounded education contribute to a rich, well-rounded life, and building a strong network.
- College, graduate, and MBA students: You may be paying more than you need to for your education! Learn a little about new tax codes and you could be the proud owner of a lower tax bill, advises BusinessWeek. There are education deductions and credits available to students that few know anything about; even the "quant jock[s] by trade…still might want a little help with [their] taxes." Students should look into a wide range of deduction, credits, and funds options, including the Student Loan Interest Deduction, Hope and Lifetime Learning Credits, and Section 529 Funds.
- Another BusinessWeek article of interest this week covers the top business school stories of 2009, a sort of year-in-review piece about how the global financial crisis affected MBA programs and MBA students. The ten most popular topics in MBA news this year according to BW were: Job Market, Loan Crisis, MBA: Public Enemy No. 1?, GRE vs. GMAT, The Best Part-Time B-Schools, The Harvard MBA Oath, GMAT Cheating in China, College Affordability, Deans Wanted, and B-School Cutbacks.
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