These days it seems that all people are talking about are lay-offs and reduced hiring rates — so much so that they ignore an important factor in every industry: the retirement rate. While many professions may reduce the amount by which they hire on a yearly basis, the truth is that a fresh crop of employees is always necessary in order to takeover the jobs of workers who have reached retirement age.

It’s an economic factor that is sometimes overlooked, but many in the media are taking notice in light of a new report on the education industry. According to the report by the National Commission on Teaching and America’s Future, a nonprofit research advocacy group, a third of the country’s 3.2 million teachers may be retiring during the course of the next four years.

Unfortunately, there’s another problem that adds to this anticipated teaching shortage: the high attrition rate that occurs amongst newly hired teachers. Research has shown that a third of all new teachers choose to leave the teaching world within five years of being hired. Combined this with the cushy retirement plans that many teachers enjoy and you get a high turnover rate.

There is, however, hope for the education industry in the form of a new generation of college graduates eager to get into the teaching game and reap the perks that the profession’s hours, work demands, job security, and health benefits offer. Of course, as with any other career, you should only consider it if it coincides with your passions and goals in life – otherwise, you’ll be amongst that one third of new teachers.

*The original NYTimes article for more stats and info on the matter.

– Genevieve M. Blaber

This just in: more bad news from the front lines of the recession. According to the U.S. Department of Education, the student loan default rate has climbed from 4.6 percent in 2005 to 5.2 percent in 2006 to a preliminary figure of 6.9 percent for 2007. The 2007 rate is based on recent grads who began repaying their loans between October 2006 and September 2007 and defaulted before October 2008.

Of course, the recession is to blame:

The new rates “are from the early recession period, so that is the likely explanation for the increase,” Robert Shireman, a senior adviser to Education Secretary Arne Duncan, said in a statement.

So how can current and future students sidestep these sad loan statistics? Some tips on avoiding loan default:

>> Consolidate your cashola.
Consolidating your student loans enables you to combine all your loans into a single loan so you can reduce your number of monthly payments. This makes repayment more manageable and it can also lower the amount of your monthly payment.

>> Make a new plan.
You can also lower your payments by changing your payment plan. Extended repayment, for example, enables those with more than $30,000 in student loan debt to lower their monthly payment by extending the loan over 25 years instead of 10 years. Other options include graduated, income-contingent, income-sensitive, and income-based repayment.

>> Defer the question.
Deferring your loan just means postponing payment. The nice part is that if you have a subsidized Direct Stafford or Consolidation loan, the government will pay the interest while the loan is in deferment. For all other loans, unpaid interest capitalizes (is added to the principal balance) when you enter repayment. There are several types of deferment, including programs for current students, military personnel, and new parents. Click here to determine your eligibility for deferment.

>> Grin and forbear it.
Forbearance is an arrangement to postpone or reduce your monthly payment for a specific period of time, during which you are charged interest. You may request forbearance of principal, interest, or both. But even if you receive a forbearance of interest, it will continue to accumulate and it will be capitalized when the forbearance ends. Click here to determine your eligibility for forbearance.

And the most vital tip for avoiding loan default:

>> Communicate your concerns.
Lenders will do everything in their power to help you avoid defaulting on your loan – as long as you keep them in the loop about your financial situation. Contact them at the first sign of trouble, and you can make arrangements to keep your loan (and your credit rating) in good standing.

–Robyn Tellefsen

Got any more tips on effectively managing your student loans? Post away!

Determination and setting an example were very important in contributing to Teresita Lee’s successful completion of her Bachelor of Science degree in Management at the University of Phoenix. The 70-year-old great-grandmother recently donned a cap and gown at a graduation ceremony in Austin, Texas, according to a recent Career College Central article.

Even as a girl, Lee was always smart — so smart, in fact, that she skipped two grades in elementary school. When it came time for college, her father held her back claiming she was too young to be away from home. And, at the age of 15, her studies quickly came to a halt, even after she was named valedictorian of her high school class.

Says Lee in the article:

“The only reason I did this is to leave my grandchildren and great-grandchildren an inspiration,” said Lee, who lives in San Antonio. “It’s not good to quit. Just keep going until you get there.”

I think we can come away with a lot of lessons from Lee’s example. We can see she was always a good student and was forced to make a decision based on the fact that she was just a child at the time. But she finally came to a point where she realized she wanted that education and she wasn’t scared to go after it. There really are so many opportunities when it comes to education for nontraditional students, no matter what age. If you’ve even been having the slightest thoughts about going back to school, know that you are not alone.

Although Lee wanted to inspire her family, she ultimately made the decision for herself. It was through studying and keeping her eye on the prize that she was able to complete what she had longed to do for so long. No one should give up on their dreams and that’s what Lee’s example shows us. Even at 70 years old, you can still achieve what’s important to you and be successful.

Be sure to check out some additional nontraditional articles:

• Baby Boomers Back to School
• Community Colleges Targeting Boomers

-Amanda Fornecker

Internships are a fabulous way for people of all ages to see how they might enjoy a particular field. The downside is that most internships are unpaid; but the upside is networking, getting your foot in the door, and possibly getting a job offer at the end of it all. No, you’re not guaranteed a job with an internship, but you’re more likely to secure one with your internship experience. And although the current state of the economy may have left many unemployed, the key to a new job could be an internship.

CareerBuilder.com recently conducted a survey of employers and 59 percent stated that they are more likely to hire those who have interned for their company over those who have not. That’s a large percentage of employers who are looking within, instead of going with a complete stranger. An intern has already been cultivated to work within the company’s set of standards and it’s much easier to work with this than training someone who is not used to working at the company at all.

In fact, I can attest to the internship-materializing-into-a-job mentality. As a rising college junior I interned here at CollegeSurfing and when it came time for graduation, my editor called me and told me she was looking for another writer. It was through my hard work and dedication that I was able to score my first job out of college. Yes, it may have been perfect timing, but without my internship I may not have been the first one on her list.

So consider an internship – it’s certainly beneficial when you are entering any stage of your profession in any stage of your life. And there are a select few internships that do pay! If you’re proactive enough you’ll find one that will be perfect for you. After all, someone has to score the paid internship — why shouldn’t it be you?

For more information on internships visit:
Internships: The Ultimate Career Tryout
Too Old for an Internship? Career Switchers Say No Way!

-Amanda Fornecker