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The Higher Education Connection

In: Teachers Can Be Financially Fit

Author

Listed:
  • Tawni Hunt Ferrarini

    (Lindenwood University)

  • M. Scott Niederjohn

    (Lakeland University)

  • Mark C. Schug

    (University of Wisconsin–Milwaukee)

  • William C. Wood

    (James Madison University)

Abstract

Meet Margaret. Due to her intelligence, solid academic preparation, and flexibility, she overcame being an “academic wanderer” and landed a tenure track assistant professorship. That is the good news. That bad news is like many doctoral students (and other college grads), she has a student loan problem. How can Margaret successfully pay off her student loans? To begin, she should figure how much she owes, the years to repay, and the interest rate. Now, Margaret can apply proven strategies for paying down the debt. As Margaret understands, things are changing in higher education. Starting salaries are highly variable across fields, locations, and types of institutions. Tenure track positions are being replaced by rolling, multi-year contracts. The traditional defenses of tenure, including academic freedom and compensating wage differentials, are losing ground to colleges having more hiring flexibility to attract students. Success in higher education today may well depend on doctoral students being more flexible than in the past and demonstrating stronger teaching skills, potential for publication, and obtaining research grants. Finally, higher education faculty often encounter opportunities to earn more income that are rarely available to K-12 teachers including teaching summer courses, overloads, guest lectures, books, and research.

Suggested Citation

  • Tawni Hunt Ferrarini & M. Scott Niederjohn & Mark C. Schug & William C. Wood, 2021. "The Higher Education Connection," Springer Books, in: Teachers Can Be Financially Fit, chapter 10, pages 105-115, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-49356-1_10
    DOI: 10.1007/978-3-030-49356-1_10
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