My Norwich University Experience

Changes to the GI Bill

WheelCipher — Wed, 14 May 2008 15:30:00 GMT

The GI Bill is a very valuable recruiting tool for the military. It is also a very nice benefit for members of the military. In a perfect world, an individual would join the military, usually separate from the service around age 22 and go to college to get their education. That’s becoming harder and harder now with the rising costs of education. The current benefits offered by the GI Bill don’t cover as much education as it used to. Now, some of our elected members of Congress is trying to change that. It should be a no-brainer, but there are some issues to be worked out.

The current proposal provides a full-ride scholarship to an in-state university. I think this is great! The hang-up is that the Democrats want the benefits to kick in after three years of service, and the Republicans want them to kick in after six years. As someone who has been in the military, I can absolutely understand the perspective that three years is way too short. This whole GI Bill proposal is very expensive, and I would want to make sure I was getting a good return on investment if I were the government (or the taxpayer).

I think that a 5 year commitment would be a great compromise. This allows for the service member to get the normal 3-4 year term under their belt to see if signing up for another short stint is worth it to them. If they feel like putting forth the extra effort, they payback can be enormous. Then again, based on the length of contracts in the military, there would really be no difference between a five or six year agreement. The service member would still have to sign up for the first time, then re-enlist when that initial term is over.

With the rising costs of school, this program is as good as gold. At the same time, there is a real recruiting and retention tool for the military. If the government and the Pentagon can come to an agreement on this, I see no downside. But I do agree with the Pentagon that the term should be more than three years as proposed by Congress.

Group Project

WheelCipher — Tue, 13 May 2008 14:22:00 GMT

The bell tolls! Can you hear it? Listen closely! That's the sound that tells me that we're near the end of Managerial Finance! Six days and counting and it could not have come soon enough. We're doubling up our workload in the final week with our group project AND our final exam. I look at this as a cheap parting gift for the class that I dislike so much.

The professor was great. My classmates were great. I just do not like finance. I feel like I have spent the last three months in a void. Starting up again in a couple of weeks with a class that I like will not only be a refreshing feeling, but it will also get me back into my routine. The absolute onslaught of numbers and calculations has my head spinning.

Doing a group project in a distance learning environment is a difficult thing. Last term, my team was able to handle everything through e-mail. This term was a little different. Being a very complex topic, we took the bull by the horns and actually had (and are continuing to have) conference calls with the team so that we're all on the same page. We're getting a lot done this way. We're able to identify everyone's strengths and weaknesses and assign work accordingly.

The major part of my assignment includes financial strategy. This is where we lay out alternative financial objectives and strategies for the company we’re examining. For example, I might suggest that they move ahead with a retail growth strategy; devise a strategy that involves more active initiatives in other areas, or sell divisions or assets.

After Saturday, we'll have our traditional week between classes. I want to spend that week doing a lot of nothing. I will be 1/3 through my MBA program at that point. It's a pretty good feeling. In the mean time,

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Education Tools: HP2133 Mini-Note

WheelCipher — Fri, 09 May 2008 12:30:00 GMT

As you all know, I don’t do many product reviews. I think this is my second one. I do like to buy gadgets and tools that help me be more mobile and complete my school work. When I find one worth a write-up, you can bet that I am impressed enough to share the information.

The mini-notebook market is new. It all started with the Asus eeePC several months ago. I bought one of those and if I remember correctly, I wrote a review of it here. Well, HP has come out with a new product that makes the eeePC look like something you’d buy at Toys R’ Us.

The HP 2133 Mini-Note is the latest computer specifically geared toward the education market, but is going to be snatched up by every market from home and personal use to corporate and small business.

I won’t go into a huge review of why it’s better other than to say that for a couple hundred dollars more than the cost of the best eeePC, you can get a “real” computer that is optimized for us distance learning students. If you are like me, you like to be able to go away and find some peace and quiet to get your work done. Carrying along a normal sized laptop might be cumbersome. With the new Mini-Note, I have all the functionality of a full size laptop in a package I can carry around in my hand.

Screen: Nice, glossy wide screen measuring in at 9”

Keyboard: The keyboard is nice! Unlike the eeePC, this one is almost full size and a pleasure to use. The keys on the eeePC are simply too small for people like me with big hands.

Processor: At 1.6gHz, it’s almost twice as fast as the eeePC

The wireless is fast as one would expect. It comes with Windows Vista, but also has Windows XP drivers for those who prefer to use XP.

Hard drive: The Mini-Note comes with a 120G hard drive. This is a LOT better than the 8G solid state drive in the eeePC.

I can’t say enough about the functionality for a distance learning student. This is why HP (and other manufacturers of these small PC’s) is targeting the education market! They are affordable and work well.

If you are into being mobile while doing your school work, I would suggest one of these! I originally ordered one directly from HP, but there was a 3-week wait time. I canceled the order when I found that out. A week or so later, I found them on Amazon.com and got it the next day (with overnight shipping).

There is a lot of positive news about this new product. Check it out!

Scott is also active on LinkedIn.

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Week 9 - It's All Downhill

WheelCipher — Wed, 07 May 2008 15:02:00 GMT

Week 9 is in full swing. I was planning on writing about this week a little earlier, but I have been tied up with the actual work in the class. It is not very often that I am welcoming the end of a class, but this is one of those times. The best view of Managerial Finance is in my rear-view mirror. It is my least favorite subject (even though I am not doing to bad in it). I tend to thrive on the other aspects of the class (leadership, management, marketing, etc …) We now have a week and a half left and I will not miss this class one bit.

This is the first week of our 2-week group exercise where we take a real company and evaluate their position in whatever topic we’re discussing. This term is obviously the financial management section. Next term will be the marketing aspect, and so on.

In addition to a conference call with that company, we have to write our rough draft of the final analysis that is due next week. Furthermore, we have a final exam that is due on the 14th. It’s a lot of work, but I’ll do whatever it takes to get this class behind me.

I think that my dislike for finance (and numbers in general) has put my mind in a dark place. I feel that I am not contributing like I should due to a huge disinterest. I know that this subject is crucial, but I still wish I enjoyed it more. I feel like I am doing the minimum necessary to pass. Since I am doing fairly well, I hope that my perception is not accurate.

So I will put my nose to the ground and hopefully make a contribution to the team. If I can make a week and a half more, I will be home free and on to subjects that I enjoy a lot more and tend to get more out of. Bring on Strategic Marketing Management! Please!

Scott is also active on LinkedIn.

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Thomas Sowell on Education

WheelCipher — Wed, 30 Apr 2008 12:00:00 GMT

The great economist Thomas Sowell recently published a 3-part essay on the economics of going to college. As usual, he makes perfect sense.

Read part 1, part 2, and part 3.

In this three-part series, Dr. Sowell tackles two of the most significant issues in education. First, we must find alternative methods of paying for education that don’t include tax payer subsidies. The second issue is the cost of education and why it’s so high. Sowell asks, "How many people would go to college if they had to pay the real cost of all the resources taken from other parts of the economy? Probably a lot fewer people."

Dr. Sowell explains that the cost of education is so high because so much of it is government subsidized, and as long as that continues to happen, the schools will continue to raise the cost of education. Until something changes, there will be no incentive for schools to lower tuition. One good way to generate incentive is to change the way the students pay for college.

Instead of relying on FASFA and other similar programs, he suggests that students sign a promissory note that states the student will essentially trade a college education for a certain percentage of their future earnings. This way, fewer people will actually go to college because that type of agreement requires more thought than simply filling out a FASFA form and going to school.

As it stands, the government is throwing money at people (and schools) no matter what the cost is. People will rack up a debt to be paid after graduation. In his plan, people will think twice as it will hit them in a more significant way than it does now.

Dr. Sowell is one of the smartest economists around. He has tons of essays on the web. You should find them and learn some things from someone who knows what he’s talking about.

Scott is also active on LinkedIn.

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