ON THE MONEY THIS WEEK:
Cutting the Cost of College
Dr. Todd Hutton, Utica College President
Dr. Sharon Hirsh, Rosemont College President
Would you believe the falling price of higher education? After hearing about the soaring cost of college for decades, two schools are bucking that trend, slashing tuition by more than 40%. The two small liberal arts schools, Utica College in New York, and Rosemont College in Pennsylvania are calling it a "tuition reset." Starting next fall, Utica is cutting tuition from $34K to under $20K. While Rosemont is dropping their tuition from about $33K to $18,500. How are they doing it? Is it a sign of desperation? And could it spread to other schools across the country? We ask both Utica College President Dr. Todd Hutton and Rosemont College President Dr. Sharon Hirsh how they can make the numbers work for both their institutions and incoming students.
Teachers Helping Teachers
Adam Freed, Teachers Pay Teachers CEO
Angela Watson, Teacher
The sharing economy has arrived for teachers. Instead of just disappearing after the classroom bell rings, teachers can now share the lesson plans they created with other teachers, and make some money from their work. Teachers PayTeachers (TpT) was started by a former NYC public school teacher who believed there was untapped potential in the work teachers created daily for their students. Today, 3.5M teacher-authors are members of the TpT community. But are there ethical concerns? Is sharing different from cheating? Are teachers doing each other's homework? Teachers Pay Teachers CEO Adam Freed explains how the education marketplace works and what's next for the company. And teacher-seller Angela Watson shares how TpT can help teachers supplement their income as entrepreneurs while helping other teachers and their students too.
Retirement Sticker Shock
Sharon Epperson, Senior Personal Finance Correspondent
Even if you think your finances are on track for your retirement, there's a wild card that could derail all your planning. Healthcare costs carry a huge potential price tag. With a statistical average of 20 years post-retirement life expectancy for men, and even more years on average for women, are retirees taking into account the possibility of unforeseen health care costs? Senior Personal Finance Correspondent Sharon Epperson has the stats and strategies you need to help prepare for one of the biggest expenses retirees could be facing.
John Fogerty, Musician, "Fortunate Son" author
With classic songs including "Born on the Bayou", "Proud Mary", and "Have You Even Seen The Rain", Creedence Clearwater Revival topped the charts with 20 hit singles in the late '60's and early 70's. But a bad business deal signed in the group's early days cost the group, and especially lead singer and songwriter John Fogerty, millions of dollars in lost royalties. Fogerty tells his story in his new autobiography, "Fortunate Son: My Life, My Music". And he shares with On The Money the financial lessons he learned in the music business and back stories of some classic CCR tunes.
COMING UP NEXT WEEK ON THE MONEY: The search for new treatments for Alzheimer's Disease.