The Daily Roundup: Of Recessions and Dino-cloning

Welcome to the Daily Roundup. Each day at the ThinkTalk Blog we will post some links that we find informative, interesting, or just plain funny. The goal is to let you know what else is going on out there, and ultimately help you with the development of your career.

What do Student Loans, Student Media, Dinosaurs, and Franz Kafka have in common? They’re all in today’s Daily Roundup. (But, admittedly, that tangential relationship is about it.)

Leading off today, for those of you who currently rely on student loans, it may behoove you to know that the U.S. government has decided to provide some relief, buying up $6.5 billion in student loans from the 2007-8 academic year. Acording to The New York Times the Education Department will pay 97% of the principal and outstanding interest due for loans, so that borrowing shouldn’t be an issue.

Concern about availability of student loans has grown as the credit crisis has made borrowing more difficult for families. Federal loans this year have so far been available and the Education Department has not had to use its “lender of last resort” program, [Under Secretary of Education Sara Martinez] Tucker said.

What does this all mean for you? Well, in these unsure economic times, this move will allow students to continue to receive the Stafford and PLUS loans (for parents) without a drop off in the rate these loans are distributed. Essentially, keep your grades up and don’t hit the lottery and you should be able to retain all your student loans for the duration of your enrollment. So ya got that goin for ya, which is nice.

Among those receiving not-so-good news are MBA students. I touched on this a bit in the Links section of the Roundup the other day, but you should get used to it, as the effect of the economy on your job search is shaping up to be a consistent theme. And this struck me more than anything in yesterday’s Wall Street Journal piece on Harvard MBA’s:
One baby-faced B-schooler who interviewed with a boutique private equity shop for an entry-level associate position was informed that recently hired associates came from the ranks of middle-aged senior partners at a recently collapsed Wall Street firm. Students who checked their Google news feeds for information on the companies to which they were applying noticed tanking stock prices and deep layoffs only moments before heading into the interview room. One student described following up with an interviewer only to find out that the recruiter had just been laid off herself.

Ouch. If they’re having that type of trouble at Harvard, how bad must it look to other MBA students? Like I said, I think this is a developing theme. But markets are cyclical. Students should prepare for these lean times. Perhaps pursue other certification in the meantime, or as the article suggests, seek out work with non-profits. The market will eventually rebound (hopefully), and when that time comes, just be sure to watch this and read this before your recruitment interview.

If you are still in school and want to avoid the fate of those Harvard MBA student’s, Alison’s Job Searching Blog has a list of the top recession proof jobs. Nursing. Software Design, and Counseling/Social Work make this list. Financial Analyst . . . not so much.


Other links of general interest:

MediaShift Shares: An excellent profile on the growth of College Media. For journalism majors: your professors may be resistant to change and incorporation of new media tactics, but this piece is proof that the resistance is a fading trend. (via Romenesko)

The Washington Post Highlights: Pop artist Makoto Yoshitan whom they call “Kafka of the Cubicle.” His comic book, “Otaryman” (“Salaryman”) is like Dilbert, Ninja Scroll, and The Trial, all rolled into one. But funnier. And more depressing.

The New York times Asks: Did you see Jurassic Park? Do you want to live Jurassic Park? Do you have $10 Million? I’m not going to lie: I am legitimately frightened. But if it leads to more of this [immediate NSFW sound] I will put my fears aside and chip in. (via Kottke)

That does it for the first week of the ThinkTalk Blog and The Daily Roundup. Hope you enjoyed our little show. We’re still figuring things out here and working on some developments, so be sure to keep checking back for more Links, Contests (seriously, next week we have FREE STUFF), Q & A’s, and other jazz. Just come back. Please. Seriously, my job is on the line here.

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