Month: November 2023

An article posted by the Centre Daily Times last night (October 31, 2023) most certainly gave us a Halloween scare over coverage that Penn State will not be freezing tuition costs over the next year.

Reportedly, the University stated that it “cannot support” the initiative proposed by the State House of Representatives.

Tuition Increase for Students

The University’s Board of Trustees “approved a two-year budget in July, which included a 2% tuition increase this year and next for in-state University Park undergrads and 4% for out-of-state undergrads.” TribLive.com reports that “Penn State is projecting deficits of $44.5 million this fiscal year and $34.1 million in 2024-2025.”

The adjustments in cost adds to an already expensive tuition for a public university. In 2023, the tuition prices at Penn State main campus are $19,672 for instate students, $39,626 for out-of-state students, and $41,136 for out of state students. That does not include the fees for boarding and meals.

Money Allocation

Some examples of upcoming projects that are expected to take up large portions of the University’s budget are renovations to Beaver Stadium ($700 million) and the creation of the Susan Welch Liberal Arts Building ($127 million). Expenses towards large dorm renovations such as the East Halls are also very costly ($450 million).

Penn State justifies these budgets for safety purposes, and in response to donor requests.

Public Backlash 

Last April, President Neeli Bendapudi warned of nearly 50 faculty layoffs due to budget constraints. Luckily, there have only been less than 10 faculty members released since then.

The Daily Collegian posted student reactions to the increase in prices. Read here.

Some find it difficult to determine whether budget decisions are made with the goal of benefiting the university as a whole or strategically arranged to enhance the institution’s brand name.

Do you have thoughts on this situation? Drop a comment down below!

The board is expected to have it’s next meeting on November 9th and November 10th. 

 

Well, well, well.

November has finally arrived, and it’s hard to believe how quickly time has flown. We’ve got a lot on our plate this month with the PSU vs. Michigan home game just around the corner, Thanksgiving approaching, and of course, Mariah Carey thawing out for her annual debut.

However, outside our university bubble, our nation is grappling with some significant challenges, particularly at the federal level. Congress recently swapped Kevin McCarthy for Mike Johnson as the Speaker of the House, and now we’re in a race against time to prevent a government shutdown in the next three weeks.

What exactly is a government shutdown?

According to the Brookings Institution, it happens when Congress fails to pass the 12 annual appropriation bills, forcing federal agencies to halt all non-essential operations until Congress takes action.

Why is this a big deal?

Well, a government shutdown isn’t the end of the world, but it can have far-reaching consequences. The most recent one occurred during Donald Trump’s presidency, lasting from December 22, 2018, to January 25, 2019, marking the longest shutdown in history.

If a shutdown does occur, it can disrupt federal programs, services, and the economy. For example, the travel sector alone could lose a staggering $140 million per day, according to the U.S. Travel Association. This would also lead to a daily reduction in economic growth by 0.2 percentage points.

So, who would be affected by a shutdown?

The last one resulted in the furlough of at least 300,000 workers, and in a full shutdown, an estimated 2.2 million government workers, including military personnel, would be impacted. This means services like passport processing, funding for free school lunches, and even national parks could come to a standstill.

Now, you might wonder if a government shutdown would impact our university. Fortunately, the impact of a short-term shutdown on a university is minimal. Yes, that means our studies can continue (and finals week can proceed as planned.) Let’s hope we can steer clear of a shutdown and see where the future takes us!

Hey, everyone!

I’m Skylar, a second-year Finance student at Penn State’s Smeal College of Business, and today, I’m thrilled to launch this blog page as part of my ENGL 202D class.

The main focus of my blog will revolve around current events and trending topics in the wide world of business, beyond the boundaries of our classroom. Through this blog, I aim to find answers to questions that many of us wonder, such as, “What career opportunities best suit my skillset?” “How can I become a better public speaker?” and “How can I stand out in the business world?” These are crucial questions to consider when navigating our careers.

My Inaugural Post

For my first post, I want to highlight the significance of practicing habits that lead to success. I’d like to share one of my favorite inspirational videos, featuring a speech by the multi-billionaire entrepreneur and investor, Elon Musk. I first came across this video a couple of years ago, and it continues to be a source of motivation for me.

In the video, Elon emphasizes the vital role of reading books in personal and professional growth. Reading can refine your speaking and writing skills, and, most importantly, it can sharpen your analytical abilities. Books can offer infinite knowledge, containing lessons from the past that can inform our values and decisions today and in the future.

Lessons Learned

I’ve personally faced challenges getting back into the habit of reading, knowing how our phones and social media can easily divert our attention. However, I started with shorter books and gradually worked my way up to longer ones that piqued my interest. I explored various genres, from fantasy (like the “Harry Potter” series) to historical fiction (“All the Light We Cannot See”), thrillers (“The Da Vinci Code”), and even biographies. One memorable read from my early years was Ashley Vance’s biography, “Elon Musk: Tesla, SpaceX, and the Quest for a Fantastic Future,” which I devoured when I was just 12 years old. The key is to find books that resonate with you.

My dad always told me that individuals in the business world often reference the same quotes, books, and movies. Without this knowledge, you might miss out on the humor and insights shared within those circles. To truly connect with people and understand what fascinates brilliant minds, you need to be well-read.

I believe this video is a must-watch for anyone seeking inspiration to rekindle their love for reading, or to gain a fresh perspective on why it’s such a crucial habit!