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College Grads Lose Jobs In a Shrinking Market

Quote of the Week:

“If you’re too open-minded, your brains will fall out.” –Lawrence Ferlinghetti

Fact of the Week:

The “sandwich” gained its name from John Montagu, The Earl of Sandwich in England. In the late 1700’s, French writer Pierre-Jean Grosely included a snippet in his book that claimed John Montagu was so absorbed in gambling that he never left the table to eat real meals. All he brought with him was a piece of meat between two pieces of bread.

Though different forms of sandwiches had been around long before, the classic meal went unnamed until The Earl of Sandwich brought it into popularity.

News Update:

This week, we’ve recapped two news stories for you. Dartmouth College is eliminating student loans and replacing them with scholarships for students whose families make more than $125,000. And U.S. tech companies are revoking job offers amid economic downturn, leaving college students floundering.

Dartmouth College. Via The Dartmouth by Michael Lin.

Dartmouth Swaps Loans for Scholarships:

While Dartmouth College had already offered scholarships rather than loans to low-income families, the university is now removing the loan requirement for undergraduates from families who receive need-based financial aid yet have an annual income of more than $125,000, according to NBC. This will save middle-class families an average of $22,000 over four years, Dartmouth said in a press release.

In 2018, a fundraising effort called The Call to Lead furthered Dartmouth’s commitment to making education affordable. Over 65 families supported the campaign, giving more than $80 million in the process.

With this enactment, Dartmouth joins Brown, Yale, Columbia, Harvard, and UPenn in adopting no-loan policies, the Dartmouth newspaper reported.

Tech Companies Pull Job Offers Leaving College Grads Floundering:

Over 21,500 tech workers have lost their jobs this year, according to U.S. News. Now, those layoffs are affecting college graduates who have yet to even start their new positions. U.S. News reported that “Twitter Inc rang up some members of its incoming class of new hires who had recently graduated from college and revoked the job offers in 15-minute calls, according to some of the recipients.”

Other shrinking industries are those of crypto and venture capital-backed companies. U.S. News said, “Crypto firm Coinbase Global Inc laid off 18% of staff this month, payments firms Klarna and Bolt Financial collectively laid off over 900 people while major names like Meta Platforms Inc, Lyft Inc and Uber Technologies Inc have said they will slow or freeze hiring.”

Especially hurt by these changes are college students who had spent the last year preparing for the job they had secured only to be told their position no longer exists. They have had to cancel apartment leases, change summer plans, and begin a late, frantic search to secure a job in a shrinking market.

NBC and U.S. News contributed to these articles.

Sports Update:

Arch Manning. Via Sports Illustrated.

Arch Manning, son of Cooper Manning (Peyton and Eli’s oldest brother) is one of the most sought after football recruits in the country. While Arch still has one more year left at Isidore Newman School in New Orleans, he is soon expected to make a decision on his college destination.

According to The Sporting News, “Cooper Manning's eldest son is not only the No. 1 recruit in the 2023 class, per 247Sports Composite Rankings, but he has a perfect 1.000 score, making him one of only seven players in 247 history to earn the perfect score and one of three quarterbacks, joining Vince Young and Quinn Ewers.”

It seems Arch has narrowed his search down to three schools: Alabama, reigning champions Georgia, and Texas. There does not appear any clear front runner, though an already stacked quarterback squad at Alabama could dissuade him from the Crimson Tide.

The Sporting News contributed to this article.

Want to win 50% off Last Cup Scaries’ new Fire Island t-shirt? DM the correct answer of this riddle to lastcupclothing on Instagram, and if you’re the first person to respond correctly, we’ll send you a code! Previous winners are excluded.

This riddle was written by yours truly.

Connected to you now,

And forever I shall be.

For even when you cease,

I remain indelible on your tree.

I can be large,

Or small,

My history is indicative,

If your offspring will be tall.

Some resent me, some love me,

For some I’ve all they’ve got.

But once created I’m with you,

Change me you cannot.

Everyone belongs to one,

Even if to which you do not know.

But you can always find yous,

By following the crimson flow.

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