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Economy Forcing Teens To Change College Plans ST. LOUIS (PRNewswire), May 3, 2009 - On May 1, high school students sent their tuition deposit checks to the college of their choice, but many students have had to change their plans due to the economic downturn. According to the results of the 2009 "Teens and Personal Finance" Survey conducted by Junior Achievement and The Allstate Foundation, the economy is causing many teens to rethink their college plans. The Teens and Personal Finance Survey monitors the attitudes and behaviors of teens about personal finance concepts such as saving, spending, investing and using credit. The survey's key findings include: More than half of teens surveyed (55 percent) said their college plans had changed due to the economy. More than a third (37 percent) said they would attend college in their home state to save on tuition costs out of state. Nearly a third (32 percent) said they were working more to pay for college. Eighteen percent said they were going to attend a community college instead of a four-year institution. Demonstrating that students already in college are feeling the economic pinch as well, a recent Sallie Mae study showed that up to 30 percent of students who used credit cards for tuition, books and other direct college expenses last year charged an average of $2,200, up from $942 four years ago - an increase of 133 percent. The study suggests that students are using credit cards instead of other types of financial aid, including grants and private loans. And, recent reports suggest that many college graduates are entering the workforce saddled with more college debt than they can realistically expect to repay, given the current job market. According to FinAid.com, a Web site specializing in financial aid, the average cumulative debt among graduating college seniors is about $22,500. "Regardless of the economic climate, teens need to understand and be able to apply basic money management skills - such as budgeting, saving and investing - so they can make appropriate financial decisions, including around how to pay for college," said Jack E. Kosakowski, president of Junior Achievement USA. "Junior Achievement infuses age-appropriate financial literacy concepts throughout our K-12 curricula so that students learn how to make wise money management habits from the start." Junior Achievement and The Allstate Foundation have partnered to create personal finance teaching tools that parents can use to talk to their children about the importance of learning and using sound money management skills - including how to pay for college. The 2009 Teens and Personal Finance poll was conducted by Opinion Research Corporation the week of February 23, 2009 and surveyed 1,000 U.S. teens ages 12-17 via telephone. Its margin of error is +/- 3.2 percent. Pay Increases for IT Management Despite Turbulent Economy ST. LOUIS (PRNewswire), May 3, 2009 - Information technology remains a strong career path, with staff-level IT pros earning a median $80,000 in total compensation, while managers earn a median $105,000, according to a survey by InformationWeek. However, the recession is hurting IT pros, with median total raises of just 0.7% for staff and 1.6% for managers. And the pain varies significantly depending on the industry and geographic region, the survey finds. Hard hit areas include Detroit and Los Angeles, where the typical IT pro is receiving no raise, while Washington, D.C., still reports solid median raises. "All in all, this is better news for IT professionals than we were expecting," said Art Wittmann, Managing Director of InformationWeek Analytics. "But we also find that the once believed recession-resistant industries, such as healthcare aren't immune to the downturn." Continued Next Column    Advertisements Continued InformationWeek's 2009 annual salary survey debuts today in InformationWeek Magazine and in a comprehensive report available at InformationWeek Analytics. The results were compiled from 12,410 responses from IT professionals in the United States. IT professionals report that they are less secure about their jobs with IT unemployment at its highest since 2004. Thirteen percent of respondents felt their jobs were "insecure," compared with only 8% last year. Only 37% consider their positions to be very secure, compared with more than half (51%) last year. The survey also found that strong tech skills still can pull a good paycheck. The top-paying staff functions include those responsible for data mining, data integration, security, ERP, and Web infrastructure, all of which have median compensation of more than $90,000. Companies continue to put a premium on these skills. By title, IT architects top the list again this year, the only non-management job with median pay above $100,000 . Two-thirds of the IT professionals are satisfied or very satisfied with their jobs, including the pay, while just 11% are dissatisfied. A majority of IT pros feel fairly secure in their jobs and satisfied with their pay and responsibilities, but only 33% think an IT career is as promising as it was five years ago -- 10 percentage points lower than in 2008. Archived Stories: Previous College Grads Advise Class of 2009: Pursue Passion Over Money & Job Security Most Employees Willing to Save Jobs with Schedule Change or Pay Cut CFOs Cite Leadership, Talent Are Keys to Staying Ahead of the Competition Half of Workers Who Were Laid Off in the Last Three Months Found Jobs New Survey of U.S. Employees Reveals Surprising Level of Optimism Significant and Surprising Changes Among Men and Women At Work and At Home The Saint Louis Front Page is owned and maintained by the Moore Design Group for the sole purpose of disseminating news and information about the Metropolitan Saint Louis area. Text or graphics may not be copied, rewritten or distributed in any manner whatsoever without written permission. For more information, contact editor@slfp.com All rights reserved world wide © 1996 - 2009 Moore Design Group.