We see a lot of deals around the web over on Kinja Deals, but these were our ten favorites today.
The difference between earning a bachelor’s degree versus an associate degree can make a fundamental difference in someone’s life. A recent study published by The National Endowment for Financial Education (NEFE) in partnership with The Ohio State University (OSU), discovered key inequalities between two- and four-year degree holders that highlight just how divergent these two pathways can become, especially when it comes to student debt. So, associate degree or bachelor degree: which pays more in the long run?
The study, which was led by Rachel E. Dwyer, Ph.D., at OSU, examines the types of debt held by Americans between the ages of 20 and 30. It found that individuals who only complete a two-year degree are more financially vulnerable than individuals with a four-year degree. In some cases, those who earn an associate degree end up worse off than those who have no degree. The research shows that individuals who obtain associate degrees experience the greatest financial burdens when compared to both to bachelor’s degree holders and individuals who never enrolled in college.
When compared to other degree holders, those with associate degrees:
- Have more exposure to vehicle and credit card debt and a higher rate of loan delinquency
- Are more likely to pay higher interest rates on student loans
- Were hardest hit during the Great Recession
- Are more likely to have experienced other major life events, such as marriage and childbearing, during the same period that they are pursing education credentials
“What we are learning is that two-year college attendees experience major life events and transitions in a significantly different manner than most four-year degree holders,” Amy Marty Conrad, director of NEFE’s college-focused education program CashCourse, said in the spring 2019 issue of NEFE Digest. “Getting married, going to school, and having children at the same time have profound, long-term effects on debt holding and financial precarity. There’s an opportunity to address these situations in the financial education we offer to community college students.”
“Most data and assumptions about college debt focus on bachelor’s degrees, but these are not universally translatable to two-year degree holders,” Katherine M. Sauer, Ph.D. vice president of research and programs for NEFE, added. “Understanding the unique challenges of two-year degree holders forces us in the research and education field to treat them as a distinct group rather than lumping them in with traditional four-year students.”
The study also compared debt profiles of each type of degree holder at three stages in their lives, revealing that from age 20 to 30, debt portfolios between degree pathways begin to diverge:
- Associate’s degree holders are more likely to have debt at age 20 than bachelor’s degree holders.
- By age 25, about one in five has a mortgage and at age 30, a greater proportion of bachelor’s degree holders have house debt.
- Vehicle and consumer debt are more common at every age for associate’s degree holders.
- Both types of individuals are likely to hold credit card debt at age 25. The proportion of bachelor’s degree holders with credit card debt drops steadily over time, while associate’s degree holders see only a slight decrease.
To review the full study, click here.
Telecommunications executive; 48; Vice President, Channel Operations, AT&T’s Prepaid Portfolio (includes Cricket Wireless)
Twitter: @gfcleveland
Marrying the love of my life and creating a solid foundation for our children. I’m able to provide for them and put them in a position to achieve their dreams without the challenges I faced growing up. I understand they will face obstacles, but my hope is that we’ve provided them with the tools to fight through and reach their full potential.
Growing up in Macon, Georgia, my parents realized early on the importance of instilling faith and family values and providing me with a quality education. They sent me to a private school where I quickly recognized the financial and social economic differences from where I was growing up to that of my more affluent peers. This experience fueled my passion to provide a more fruitful life for myself and my future family.
There were a couple of folks who were alums of Morehouse. My godfather, Thomas Hooper, was one of them who influenced me to attend Morehouse. Another person was my freshman year pre-calculus professor, Rev. Lee A. Norris, Sr., who was an educator and pastor who heavily influenced my early years as a young Morehouse Man.
I think manhood is different for individuals based on where they are in their life. For me, my manhood is defined by my faith. My faith and family is the foundation that fuels my passion. My passion is to be the best version of myself—as a husband, father, and leader at Cricket.
A former supervisor, who continues to be a mentor to me, told me: “George, you have to find the way that works for you and for your own personality to make an impression with the people you are leading. You can’t use my style, you can’t use another person’s leadership style. You have to find that style that is authentic to you. When you find that, you will be effective because it’s yours and no one can take that away from you.”
I’m blessed to work for a company that makes it a point to invest in the education of our youth. This allows me to volunteer with organizations like Junior Achievement, an organization that uses integrated learning models focused on career readiness, entrepreneurship, and financial literacy to help develop future leaders, including within the telecommunications space.
In addition, I lead a mentoring circle of young professionals who are looking to advance their career within my area of expertise and/or AT&T as a whole.
Having attended Morehouse College, we each graduate with a sense of duty to serve and advance the efforts of those who have come before us. A true sense of “Purpose” to genuinely make things better no matter where we are planted; a responsibility to help others see the possibility that lies within each of us as black men; and to chart a course that paves the way for others to follow.
Faith is an important fabric of my being. As I mature, I daily become more aware of how delicate life is and what a special gift each day brings. Daily devotionals are a vital part of my routine in addition to long walks after each workout to center myself and reflect on the day ahead.
I’ve become a huge fan of audio books to help me stay current during my daily commutes or business travels. I’m currently reading a couple of books including, The Last Lecture (Hyperion; $22.00) [and] The Perfect Weapon (Crown, $28.00). By reading/listening to a variety of personal and professional topics, it helps me to balance priorities and interests.
BE Modern Man is an online and social media campaign designed to celebrate black men making valuable contributions in every profession, industry, community, and area of endeavor. Each year, we solicit nominations in order to select men of color for inclusion in the 100 Black Enterprise Modern Men of Distinction. Our goal is to recognize men who epitomize the BEMM credo “Extraordinary is our normal” in their day-to-day lives, presenting authentic examples of the typical black man rarely seen in mainstream media. The BE Modern Men of Distinction are celebrated annually at Black Men XCEL (www.blackenterprise.com/blackmenxcel/). Click this link to submit a nomination for BE Modern Man: https://www.blackenterprise$toneP0n3y
.com/nominate/. Follow BE Modern Man on Twitter: @bemodernman and Instagram: @be_modernman.
I was kidding, I swear. At least, I was mostly kidding when I DM’d The Root’s Editor-in-Chief, Danielle Belton, and asked if the company would pay if I tried the new, Beyoncé-endorsed 22 Days Nutrition program. I even ended my message with the laughing/crying emoji—a clear tip-off that I was joking, right?
