Thu01292015

News

Foothill to offer four-year degree: Foothill aims to launch dental hygiene degree in fall 2016

Foothill to offer four-year degree: Foothill aims to launch dental hygiene degree in fall 2016


Ellie Van Houtte/Town Crier
Students enrolled in Foothill College’s two-year dental hygiene program, above, can soon earn a four-year bachelor’s degree for approximately $10,000.

Foothill-De Anza Community College District Chancellor Linda M. Th...

Read more:

Loading...

Schools

Freestyle hosts exhibition at Computer Science Museum

Freestyle hosts exhibition at Computer Science Museum


Traci Newell/Town Crier
Mountain View High junior and Freestyle Academy student Radika Gupta, right, works with a fellow student during a WebAudio course this month.

For three periods a day, a small subset of students from Los Altos and Mountain Vi...

Read more:

Loading...

Community

Museum explores Stanford, Valley connection

Museum explores Stanford, Valley connection


Courtesy of Julie Rose
The Los Altos History Museum’s “Symbiotic Superstars” event drew a crowd including, from left, “The Lure & the Legends” creator Nan Geschke, Stanford President John L. Hennessy, historian Leslie Berlin and Adobe Systems c...

Read more:

Loading...

Comment

Good compromise on PE exemptions: Editorial

While “Deflategate” captures the national sports headlines, the local issue of physical education class exemptions for freshmen seems a much worthier sports topic for discussion.

The Mountain View Los Altos Union High School District Board of Truste...

Read more:

Loading...

Special Sections

Your Home Brief

Filoli hosts bird exhibition

Filoli kicks off the 2015 season of art exhibitions in its Visitor and Education Center with “The Birds of America: Audubon Collection,” a selection of prints from Filoli’s Permanent Collection, Feb. 10...

Read more:

Loading...

Business

Wine & beer lounge coming to First Street

Wine & beer lounge coming to First Street


Ellie Van Houtte/Town Crier
The new wine and beer lounge Honcho heads to First Street, with a spring opening anticipated.

A cocktail lounge proposed for First Street has cleared its first hurdle – the Los Altos Planning and Transportation Comm...

Read more:

Loading...

Books

"Fearless Genius" photos chart Silicon Valleys brain trust


Not every book needs pages and pages of words to tell a story – some do it through pictures.

“Fearless Genius: The Digital Revolution in Silicon Valley, 1985-2000” (Atria Books, 2014) by Doug Menuez features more than 100 photographs Menuez to...

Read more:

Loading...

People

RUBY DOSHIM LAI

Ruby Doshim Lai was born on July 26, 1929 and passed away at home on January 10, 2015. A resident of Los Altos for over 50 years, Ruby is survived by her husband Bill; children Gwen, Tracy and Allyn; and grandchildren Kiyoshi and Misa.

Born on Mott ...

Read more:

Loading...

Travel

Cuban photographer slated to appear at Foothill

Cuban photographer slated to appear at Foothill


Courtesy of Raúl Cañibano
Cuban photographer Raúl Cañibano is set to appear at Foothill College tonight. His work – including the image “Series: Guajira’s Land, Viñales, 2007,” right – is on display at the KCI Gallery t...

Read more:

Loading...

Stepping Out

'Betrayal' at Pear

'Betrayal' at Pear


Ray Renati/Special to the Town Crier
The cast of Pear Avenue Theatre’s “Betrayal” includes Maryssa Wanlass, from left, Fred Pitts and William J. Brown III.

The Pear Avenue Theatre presents Harold Pinter’s investigation of modern relationships, “...

Read more:

Loading...

Magazine

Tracing history on foot: Hidden Villa’s long hike

Tracing history on foot: Hidden Villa’s long hike


Campers on Hidden Villa’s Sierra Backpacking Trip study historical photos to measure how the land has changed and alternate serving as student leaders who guide the route of their three-week trek.

Amid the high-tech camps and programs of a Bay Area ...

Read more:

Loading...

The ramifications of burgeoning student debt

New college graduates these days face the same financial challenges that young workers have faced for the last several generations.

As they enter the workforce, there’s the cost of an apartment, perhaps a used car if public transportation is lacking and, of course, their personal preferences for entertainment. At some point during their evolution, they may begin to think about marriage, starting a family and possibly buying a home. And perhaps most important, at some point, they begin saving for retirement.

Unfortunately, a number of recent economic trends – slow wage growth and higher required down payments from homebuyers – are likely to delay some of the above milestones. But the biggest culprit that impacts young Americans’ ability to achieve these financial goals now is the growth in student loans.

According to The Institute for College Access & Success (ticas.org), a nonprofit policy research group in Oakland, two-thirds of the 2011 graduating class – the latest year for which data are available – carried student loan debts. For those with loans, the average amount of debt was $26,600. And that reflects only student debt at public and private nonprofit four-year colleges. Forbes Magazine reports that more than 90 percent of students earning two-year degrees at for-profit schools carry debt. The average debt at a public two-year institution, now the second-highest form of consumer debt behind mortgages, is $7,000.

Delaying retirement saving

I can see two possible long-term trends resulting from this situation. One is a decline in the number of Americans owning their own homes. Indeed, rental markets in those cities that have had the greatest job growth in the last several years are exploding. And while housing markets in those very same locations are also doing well, foreign and institutional investors are driving much of the latter growth, as are low interest rates.

Probably the most concerning trend is the potential for young workers to postpone saving for retirement. The $300 per month that they could be stashing away into an IRA must instead go to paying off college loans. And the consequences of delaying retirement savings can be dramatic.

If you begin saving $300 per month starting at age 35, earn 7 percent per year on your savings and retire at age 65, you will have amassed a total of $366,000. Contrast that with someone starting at age 25, who will net more than twice as much ($788,000). Imagine how much more comfortable the latter nest egg could make you.

What can a college student do? First, consider the return on investment (ROI) of the chosen university. PayScale.com, a website that reports pay scales for various types of jobs, reports on the ROI from more than 500 schools. They calculate the ROI by surveying alumni to estimate lifetime earnings, measuring the costs of getting a degree and comparing that to the earnings of noncollege graduates. Although the data are limited and fraught with assumptions, it’s the most rigorous approach I’ve seen for analyzing the college investment decision. For more information, visit payscale.com/college-education-value-2013.

Next, students should try to use federal loans before considering the riskier (and more expensive) private loans. There are a number of features of federal loans that make them beneficial, such as income-based payback caps and the opportunity to have the loan forgiven in 25 years (or 10 if you work in a public or nonprofit company). But they also have drawbacks: Federal loans cannot be dismissed through bankruptcy.

Keep in mind that retirement planning, just like debt management, is a necessary part of sound financial planning. Even if it’s difficult, every month you put it off will cost you.

Artie Green, a Los Altos resident, is a Certified Financial Planner and professional investment adviser. For more information, call (408) 747-1222.

Schools »

Schools
Read More

Sports »

sports
Read More

People »

people
Read More

Special Sections »

Special Sections
Read More

Photos of Los Altos

photoshelter
Browse and buy photos