25 years old and deep in debt

[garbon]

Each morning the gawky, bone-thin teen energetically reminded his dorm mates to "have a Caltastic day!"

Gee, I wonder why nobody liked him.

If he was a girl, I'd expect you to be all over that.

[Ideologue]

I could possibly ignore exhortations to have a "Caltastic day," yes.  Life isn't fair.

[CountDeMoney]

Only 1-in-4 ACT test-takers have college, career skills
By Philip Elliott, The Associated Press

Just a quarter of this year's high school graduates who took the ACT tests have the reading, math, English and science skills they need to succeed in college or a career, according to the testing company.

The numbers are even worse for black high school graduates: Only 5 percent are fully ready for life after high school.

The results, part of ACT's annual report, indicate thousands of students graduate from high schools without the knowledge necessary for the next steps in life. The data also show a downturn in overall student scores, although company officials attribute the slide to updated standards and more students taking the exams — including those with no intention of attending two- or four-year colleges.

"The readiness of students leaves a lot to be desired," said Jon Erickson, president of the Iowa-based company's education division.

The ACT report is based on the 54 percent of high school graduates this year who took the exams. Roughly the same percentage took the SAT — the other major college entrance exam — and many students took both tests. Those who took only the SAT were not included in the report.

Under ACT's definition, a young adult is ready to start college or trade school if he or she has the knowledge to succeed without taking remedial courses. Success is defined as the student's having a 75 percent chance of earning a C grade and a 50 percent chance of earning a B, based on results on each of the four ACT subject areas, which are measured on a scale from 1 to 36 points.

Of all ACT-tested high school graduates this year, 64 percent met the English benchmark of 18 points. In both reading and math, 44 percent of students met the readiness threshold of 22 points. In science, 36 percent scored well enough to be considered ready for a college biology course, or 23 points.

Only 26 percent of students met the benchmarks for all four sections of the ACT test.

About 69 percent of test takers met at least one of the four subject-area standards. That means 31 percent of all high school graduates who took the ACT were not ready for college coursework requiring English, reading, math or science skills.

Of the 1.7 million students who took the 215-question ACT exam, as many as 290,000 were within 2 points of meeting at least one of the four the readiness thresholds.

"There is a group that's on the fence," Erickson said in an interview with The Associated Press. "With a little further instruction or motivation, perhaps some additional remediation or refreshing some of their past skills, they may be able to achieve that benchmark."

When the testing agency broke down the results by race, fault lines emerged. Just 5 percent of black students are ready for college work in all four areas. Among American Indians, 10 percent are ready in all subjects, while 14 percent of Hispanics are ready. Pacific Islanders post a 19 percent readiness rate for all four subjects. White students have a 33 percent rate, and 43 percent of Asian-American students are ready for studies in all four subjects.

Students from all racial backgrounds did best in English and worst in science.

Some states and school districts have begun requiring more students to take the tests. About 22 percent more students took the ACT test in 2013 than in 2009. In the past four years, ACT has increased its share of the test market, climbing from 45 percent of high school graduates in 2009 to 54 percent this year.

ACT, which was founded in 1959 as American College Testing, said it updated its benchmarks for success in reading and science this year to better reflect what students need to know. The percentage of students with reading skills needed to succeed after graduation slid from 53 in 2009 to 44 last year, while science readiness scores climbed from 28 percent in 2009 to 36 percent last year. Both differences may have been caused in part by changes in the benchmarks.

In other subjects without changes in the benchmarks, students' readiness scores have declined. In English, scores slid from 67 percent in 2009 to 64 percent last year. And in math, scores increased slightly, from 42 percent in 2009 to 44 percent this year.

[garbon]

Is the ACT really saying that its test focuses only on what people need to know in life?

[CountDeMoney]

No, I think what they're saying is they provide a readily testable barometer of baseline knowledge in math, reading, English and science that should be acquired by the time one graduates from high school.

If it was what people "need to know in life", they'd test on how to get a lit cigarette out of your lap while driving at 60 mph.

[garbon]

But they are saying that only 5% of takers are ready for college and careers. Somehow I don't think that's the case but instead just based on their rule system they've devised.

[CountDeMoney]

I think it fits into the bigger picture, converging with both undergraduate admissions getting looser in degree factories, the associated grade inflation to keep them there and moving forward, and Ide's student loan Ponzi scheme.

[Razgovory]

I'm with the g-man here.  I got a high score on the ACT, which shows you it's not a good barometer for anything.

[sbr]

If it was what people "need to know in life", they'd test on how to get a lit cigarette out of your lap while driving at 60 mph.

Once back when I smoked I flicked a cigarette out the window (Yeah I know) and the wind caught it and blew it back into the car, between my back and the seat.  On the freeway of course.  That was a scary 30 seconds.

Another time I had some sort of buzzing bug fly into the window and get caught between my sunglasses and my face.  I miss those glasses.

[Admiral Yi]

But they are saying that only 5% of takers are ready for college and careers. Somehow I don't think that's the case but instead just based on their rule system they've devised.

5% is blacks.  And they explain what they mean by ready: no need for remedial classes in college.

[CountDeMoney]

Another time I had some sort of buzzing bug fly into the window and get caught between my sunglasses and my face.  I miss those glasses.

LOL, my very first pager I used to clip on the visor to get it off my belt;  the sun was hitting me from the side one afternoon so I swung the visor over to the door side, and there went the pager, right into rush hour beltway traffic.

[sbr]

I can neither confirm nor deny rumors of a company owned cell phone flying out the window of a company owned vehicle. 

[Darth Wagtaros]

If it was what people "need to know in life", they'd test on how to get a lit cigarette out of your lap while driving at 60 mph.

Once back when I smoked I flicked a cigarette out the window (Yeah I know) and the wind caught it and blew it back into the car, between my back and the seat.  On the freeway of course.  That was a scary 30 seconds.

Another time I had some sort of buzzing bug fly into the window and get caught between my sunglasses and my face.  I miss those glasses.

That happened to me except it was a wasp millimeters from my eye.  I slammed on the brakes and screamed.

[CountDeMoney]

Here's who's really living with Mom and Dad
Allison Linn CNBC


Here's the stereotype: Across the country, basements are full of 20- and 30-somethings who graduated from college and now live with mom and dad because they can't find a job.

The reality? Millions of the millennials who are stuck in their parents' homes don't have a college degree and can't get a break in this harsh economy, a new analysis of government data shows.

Just ask Levi Oleson.

The 26-year-old once dreamed of being a pilot. Then the flight school he was attending went bankrupt, leaving him with $60,000 in debt but not enough training to start his career. A broken leg put him $10,000 deeper in the debt hole.

Now he's living with his mom and dad again, and working up to 70 hours a week cleaning sewers, instead of soaring through the skies.

"I never thought I'd be in this position. I'm about to turn 27 and I always thought (by now) I'd be on my own and have my own things going," he said.

A Pew Research Center analysis released earlier this month found that 40 percent of 18- to 31-year-olds with a high school degree or less, and 43 percent of those with some college education, were living at their parents' home in 2012.

That compares with just 18 percent of millennials with a college degree who were living at home in 2012.

"This phenomenon of increasingly living with mom and/or dad, this is more concentrated among the less educated," said Richard Fry, a senior economist with Pew Research Center.

About 40 percent of young men in that age range were living at home, compared to 32 percent of young women. That follows a long-term trend of young men being more likely to live longer with their parents than young women.

The analysis of the government's Current Population Survey data includes people who are going to college and living either at home or in college dorms, which partly explains why so many younger, less-educated millennials are counted as living at home.

But a closer shows a sharper surge in non-college educated millennials ages 25 to 31 who are still in their parents' homes.

Pew's analysis found that 19 percent of 25- to 31-year-olds with a high school degree or less were living at home in 2012, up from 15 percent in 2007. By comparison, 12 percent of 25- to 31-year-olds with a bachelor's degree or more were living at home in 2012, a statistically insignificant change from 11 percent in 2007.

There's also been a sharper increase in 25- to 31-year-olds with some college education living at home. Their ranks increased from 14 percent in 2007 to 17 percent in 2012.

Oleson is grateful that his parents have given him a place to stay. But the situation has crimped his ability to do many of the things he expected to do by now, like get married and maybe even start a family.

"It's hard to meet a girl and tell her you live with your parents at that age," he said. "It's not really good for the ego."

Oleson is hoping that within a year he can afford to get his own place, but he's not sure if he'll ever get back to his original dream of becoming a pilot. But he said he's become more savvy with money, at least.

"I've become pretty cheap," he said, "and I think I've learned a good lesson about getting too much into debt."

Hard job market, made tougher
About 45 percent of unemployed millennials were living with their parents in 2012, the Pew analysis found.

The weak job market of the past five years has certainly made it tough for young college grads to find a good job, but economists say young people with little education are probably having a harder time.

That's because they have neither the skills nor the experience to land a good job, plus they have to compete with college grads who might be willing to take a job that doesn't require a college degree.

"It's hit people harder with lower levels of education, and this sort of underscores that," said Heidi Shierholz, an economist with the Economic Policy Institute, a liberal-leaning think tank.

Even if younger workers can get a job, it can take a while to earn enough to go it alone.

James McAllister, 24, was finally able to move out of his mom's house last year after several years of living at home.

To make ends meet, he works a full-time retail job plus a second, part-time retail job. The Merriam, Kan., resident also has doesn't have a car and has become an avid saver, coupon clipper and bargain hunter.

McAllister says he enjoyed living with his mom, but he felt he'd outstayed his welcome and it was time to move on. Now that he is on his own, he says he's lost weight and his social life has improved.

"I feel better," he said. "I feel more in control."

[The Minsky Moment]

I could possibly ignore exhortations to have a "Caltastic day," yes.  Life isn't fair.

Anything for a Caltasm.