Debt-Burden-Alters-Outlook-for-US-Graduates.ppt

美英报刊文章阅读 精选本 第五版 UNITTWO LESSONFIVE PARTone QUESTIONSANDANSWERS PARToneQUESTIONSANDANSWERS Doesthe2008financialcrisisinfluencetheuniversitygraduates 1 The2008financialcrisisincreasedtheunemploymentrate makinguniversitygraduateshardtofindtheirfirstjoborevenlosepartofearningpowerfortherestofthetheircareer Studentswithdebtmaytakeonanevenheavierburdenastheyhavelessabilitytorepaytheloans PARToneQUESTIONSANDANSWERS WhatcanbelearnedfromtheresultofRutgersUniversity sstudy 2 Itcanbelearnedthatthegraduateswhofinishedcollegebetween2006and2011sufferedalotfromthe2008financialcrisiswiththehighunemploymentandreducedwages andtheyfeltregretfulfortheirpreviouschoices Theythoughtiftheyhadknownthattheyhadtobearsuchagreatburdenofthestudentloans theywouldhavemadedifferentchoicesastothemajors universitiesandjobs PARToneQUESTIONSANDANSWERS WhydoesChelseaKatzwanttostudybusiness 3 Becauseshethinksthatabusinessmajorgraduatemighthaveabrighterfuture findingagoodjobandearningmoremoney PARToneQUESTIONSANDANSWERS WhatconditionsaresqueezingAmericanyoungpeople sabilitytorepaythestudentloans 4 Somegraduatestookthepositionbelowtheirlevelofeducation b Somegraduatesearnedlessthanwhattheyexpected c Somegraduatehadtoacceptjoboutsidetheirfieldinordertofindwork d Theaveragestartingsalarydroppedcomparedwithyearsago e Therapidlyrisingtuitionfeessurpasstheincomegrowth PARToneQUESTIONSANDANSWERS WhydoAmericanstudentshavetoborrowmoremoneytofinishtheirhigher education 5 Becausethepublicuniversitieshavebeenhitseriouslybydeepcutstothestatebudget andhadtotransfermoreofthecostburdenontostudentsandtheirfamiliesbyincreasingtuitionandfeesandreducinggrants PARToneQUESTIONSANDANSWERS WhydoyouthinktheauthorsciteMr Obama sspeechinthelastparagraph 6 PresidentObamashowedhissympathyforthegraduateswhoaretrappedindebtsanddifficultiesinhisspeech andsharedthesameexperienceandfeelingwiththem SotheauthorsofthearticleciteMr Obama sspeechtoreinforcethethemeofthearticle andatthesametimetogivearayofhopetoencouragetheyoungpeopleoutofplighteventually PartTwo Anintroductiontotheauthors ShannonbondisareporterandFT comeditorinNewYork ShejoinedtheFT FinancialTimes in2008afterreceivingherMDfromNorthwesternUniversity sMedillschoolofjournalism ShehasalsowrittenforMarketwatch PoliticoandUPI Com JasonAbbruzzeseiswebeditoratFinancialTimes AftergraduatingfromBostonuniversitywithadegreeinjournalism heworkedforthesentinelenterpriseincentralMassachusettesbeforereceivingamaster sdegreeininternationalaffairsfromtheAustralianNationalUniversity HethenwroteforShanghaiBusinessReview 上海商评 asafeaturewriterbeforemovingtoNewYorkCity RobinHardingisUSEconomicsEditorfortheFinancialTimes andcoverstheUSFederalReserveandtheUSTreasury 美国财政部 BasedinWashington hisbeatincludesuseconomics financialmarketsandbusiness HestudieseconomicsatCambrdigeandalsoholdsamaster sdegreeineconomicsfromHitotsubashiUniversity 一桥大学 inTokyo Partthree ItsMainIdea ItintroducestheinfluencesofincreaseddebtonAmericancollegegraduatesanddescribestheprospectsofAmericancollegegraduateswhocompletetheirstudiesin2012andenteredthesocietyinthecontextoftheoutbreakofthefinancialcrisisin2008 PARTFOUR READINGCOMPREHENSION PARTFOUR DebtBurdenAltersOutlookforUSGraduates 1 AtuniversitiesacrosstheUS theclassof2012iscelebratingtheendofcollege But fortheestimated1 8mstudentsreceivingbachelor sdegreesthisspring thefinancialcrisisthatunfoldedduringtheirfirstyearoncampusin2008isstillcastingalongshadowovertheirfutures 2 Almostfiveyearsafterthecrisisbegan theoverallunemploymentrateisstillmiredabove8percentwhilethatforrecentuniversitygraduatesisstuckat6 8percent thefinancialcrisisthatunfoldedduringtheirfirstyearoncampusin2008isstillcastingalongshadowovertheirfutures financialcrisis that here that refersto theoverallunemploymentrate that 在这个从句里做主语 指代主句里的主语部分 以免重复 isstuckat isfixedat PARTFOUR FormanyyoungAmericans thepromiseofadegreehasturnedtodisappointmentastheyfindthemselvesstrugglingtofindtheirfirstjob stillburdenedbystudentdebt 4 Whatisworse studiesshowthatgraduatingatatimeofhighunemploymentcanblightayoungperson searningpowerfortherestoftheircareerandhaveanimpactonthebroadereconomyaswell 5 Inawidely citedpaper LisaKahnoftheYaleSchoolofManagementlookedatdatafromtheearly1980srecession andfoundaone percentagepointincreaseintheunemploymentrateforcollegegraduatesledtoa6 7percentdropininitialwages 3 thepromiseofadegreehasturnedtodisappointmentastheyfindthemselvesstrugglingtofindtheirfirstjob stillburdenedbystudentdebt theexpectationofgettingagoodjobaftergraduatingandgettingdegreeshasturnedtodisappointment becausetheyfinditdifficulttogettheirfirstjob andcan tearnenoughmoneytopaybackthemoneytheyhadloanedandtheyarestillunderthepressureofdebts 更糟糕的是 研究显示 在高失业率时毕业会毁掉一个人在以后的职业生涯中的赚钱能力 也会影响总体经济 PARTFOUR Even15yearslater theirwagelosswasastatisticallysignificant2 5percent 6 Seventeen year oldChelseaKatz whoplanstoattendtheUniversityofMarylandintheautumn saidshetookintoaccounttheeconomyandpossibledebtwhenpickingaschoolandchoosingherdegree ForalongtimeIhavewantedtostudybusinessbutdefinitelyamajorfactorinthatisthemorepromisingoutlookforabusinessmajorcomingoutofcollege Ms Katzsaid Theideaofpost collegedebtdefinitelyscaresmebutItryandfocusonthepresent notthefuture whilekeepinginmindcomingoutofcollegewiththeminimumamountofdebtpossible tookintoaccount pickingaschool 7 definitelyamajorfactorinthatisthemorepromisingoutlookforabusinessmajorcomingoutofcollege considered undoubtedly themainreasonformetochoosetostudybusinessisthatabusinessgraduatemayhaveabrighterfuture 毫无疑问 我选择读工商专业的主要原因 是工商专业毕业生走出校门后可能会有更好的前途 即使15年之后 他们的薪水损失仍然高达2 5 大学毕业后的债务当然让我担心 然而我只想专注眼前 而不是将来 我只希望毕业时的债务越低越好 PARTFOUR 8 AsurveyfromRutgersUniversityfoundtwo thirdsofgraduateswhofinishedcollegebetween2006and2011wouldhavemadedifferentchoices suchasmajoringinanotherfield takingonmoreinternshipsorpart timejobs startedlookingforworksooner choosingadifferentinstitutionorevenskippedhighereducationaltogether 9 There salotof IwishIhadknown thinkingweseefromthestudentsencounteringtheharshrealitiesofthelabormarket 9saidCarlVanHorn directorofRutgers HeldrichCenterforWorkforceDevelopment whichconductedthestudy 10 Halfofthestudentssurveyedwereworkingfull time withanother12percentworkingpart timeand20percentpursuinggraduateorprofessionaldegrees ton undertaking handling 罗格斯大学的调查报告发现 在 005到2011年毕业的大学生会做不同的选择 譬如 主修另一领域 接受更多的实习机会 半工半读 提早找工作 选择不同的机构 甚至跳过高等教育 主持罗格斯大学Heldrich人力发展中心调查的Horn说 我们发现有许多遭遇目前就业市场困境的学生 有许多如果早知道 就好了的想法 PARTFOUR 11 Aboutaquarteroftheemployedgraduatessaidtheirpositionwasbelowtheirlevelofeducation aquartersaidtheywereearninglessthantheyexpected andaquartersaidtheyhadtoacceptajoboutsidetheirfieldinordertofindwork 12 Themedianstartingsalaryforthosewhofinishedschoolbetween2009and2011fellto 27 000from 30 000in2006and2007 13 Theseconditionsaresqueezingyoungpeople sabilitytorepaythestudentloansthathavebecomeastandardpartofhighereducationassoaringtuitionfeesoutpaceincomegrowth 大约四分之一的就业生认为他们的职位低于他们的教育程度 有四分之一的认为他们赚的比他们期待的低 还有四分之一的人说为了找工作 他们必须接受其他领域的工作 这些情况使得年轻人越来越无法偿还学生贷款 这已变成了高等教育的标准情况 因为高涨的学费远超过薪资的增长 PARTFOUR 14 Inthepastdecade publishedpricesfortuitionfeeshaverisen29percentatprivateschoolsand72percentatpublicinstitutions accordingtotheCollegeBoard Thepublicuniversities onceseenasatickettohigherearningsformiddleandlow incomestudents havebeenhardhitbydeepcutstostatebudgetsthathavetransferredmoreofthecostburdenontostudentsandtheirfamilies 15 Weasanationhavebeendisinvestinginpostsecondaryeducation saidMarkKantrowitz publisherofFinAid org awebsiteonfinancialaid Whengrantsdon tkeeppacewithcollegecosts youhavethreemainoutcomes studentsgraduatewiththousandsofdollarsofadditionaldebt studentsshifttolowercostschools suchascommunitycolleges whichhaveanegativeimpactongraduationrates ortheyjustdon tgotocollege goasfastas 根据大学委员会的报告 过去10年公布的学费 私立学校涨了29 公立学校涨了72 过去 公立大学被认为是低收入家庭孩子获取较高收入的门票 目前却因为州预算大幅裁减 必须把更大的财务负担转嫁给学生与家长 我们的国家对大专教育的投资不断减少 一个助学网站的出版人说 当助学金无法与学费同步增加时 我们将面对三种主要情况 毕业生将增加好几千美金的债务 转学到学费低的学校 譬如 对大学毕业率有负面影响的社区大学或是根本不上大学 PARTFOUR 16 Asexpenseshavegoneupandgrantshavegonedown studentsareleftwithonechoice borrowingmore 17 Two thirdsofstudentswhograduatedwithabachelor sdegreein2008tookondebttofinancetheireducation accordingtothePewResearchCenter17 comparedwith59percentin1996 Theaverageamountofdebtroseto 23 287from 17 075inthesameperiod 18 TheUSSenateiswranglingoverhowtoextendamodestsubsidyforstudentloansthatisduetoexpireattheendofJunebut inasignofgrowingpoliticalsensitivityoverstudentdebt bothBarackObamaandhisRepublicanchallengerMittRomneyarecallingforaction comingtotheendoftheexpecteddate 到期 根据pew研究中心报告 2008年毕业的大学生有三分之二靠借钱完成学业 而1996年时只有59 平均债务由1996的17 075美元上升到2008年的23 287美元 美国参议院正在争论如何延长即将于6月份到期的学生贷款适度补贴 PARTFOUR 19 InanaddresstograduatesofNewYork sBarnardCollegeinMay Mr Obama a1983graduate struckasombernote Justasyouwerestartingoutfindingyourwayaroundthiscampus aneconomiccrisisstruckthatwouldclaimmorethan5mjobsbeforetheendofyourfreshmanyear Andyoumaybelookingtowardthefuturewiththatsamesenseofconcernthatmygenerationdidwhenweweresittingwhereyouarenow FromFinancialTimes June1 2012 toexpressandcommunicateaseriousandgraveopinion 今年五月 当欧巴马对纽约巴纳德学院的毕业生演说时 1983年毕业的他用严峻的口气说 正当你们开始在这校园里寻找你们的道路时 一个全球经济危机在你们大一那年夺走了500多万的工作机会 而你们现在面对未来的感受 可能正如我们当年坐在这里时忧虑的心情类似 PartFive somewritingfeatures a Itisobjective Thestandpointisobjective Someresearchreportsareusedascitation Thefrequentuseofspecificnumbers b Thelanguageusedisplain Thelanguageusedinitisnotflowerybutplain c Thetopicisprominent Attheendofthearticle PresidentBarackObama sspeechtograduatesofBarnardCollegeinNewYorkisquotedassayingthatthedifficultiesfacedbygraduatesarethesameastheeconomiccrisisheexperiencedwhenhegraduated Headlineisahighgeneralizationofnewscontent oftenintwoorthreewordsorfewnumbers itpointsoutthethemeofthearticleorthemostvaluablecontentinthenews whichaddsthefinishingtouch What sthemajorfeatureofheadlines Briefgeneralizationisamajorfeatureofheadlines Toachievethisgoal abbreviationsandso calledshortwordsarewidelyusedinEnglishnewsheadlines 1 abbreviations Inordertosavespace abbreviationsarewidelyusedinEnglishnewsheadlines 1 Abbreviations Abbreviationsoftenappearinheadlines butwhethercommonorunfamiliar theirfullnamescangenerallybefoundwhenthetextofthemessageappearsforthefirsttime Ofcourse inordertoquicklyreadnewsheadlines itisnecessaryforreaderstobefamiliarwithsomecommonlyusedabbreviations TheabbreviationsoftenusedinEnglishheadlinescanbedividedintothreecategories namesoforganizations namesofobjects postsortitles Herearesomeexamples A namesofinstitutionsEU sFuture TheVisionandtheSlog EU EuropeanUnion NATO Who What Why NATO NorthAtlanticTreatyOrganization WorldBank IMF DoTheyHelpOrHurtThirdWorld IMF InternationalMonetaryFund C postsortitles TogoPMStrivestoSolveCrisis PM PrimeMinister Commonlyusedabbreviationsforpositionsortitlesare FM ForeignMinister DM DefenceMinister GM GeneralManager CEO ChiefExecutiveOfficer CFO ChiefFinancialOfficer CMO ChiefMarketOfficer andsoon 2 Acronyms Anacronymisawordcreatedbycombiningtheinitialsofanumberofwords forinstance WHO WorldHealthOrganizationUNESCO UnitedNationsEducational ScientificandCulturalOrganization radar radiodetectingandranging 2 shortwordsshortwordsrefertomonosyllabicshortwords whichareheadlinewordswithnewsstylecharacteristics Thewidespreaduseofshortwordsisduetothelimitedheadingspaceofnewspapersandperiodicals whichcanavoidtheline transferofheadlines Thesecondreasonisthatsmallwordshaveawiderangeofmeaningsandaregenerallymorevividandflexible WagesAccordReached accordreplacedagreement back supportban prohibitionbid attemptlink connectioncurb restraint probe investigatetalks discussionvow promisewed marrytie relations PARTFIVE LEARNINGMORE TheFinancialTimes BasicInformation AninternationalbusinessnewspaperAmorningdailynewspaperpublishedinLondonandprintedin24citiesaroundtheworldFoundedin1888 Content 1 TheFinancialTimesissplitintotwosections Thefirstsectioncoversdomesticandinternationalnews editorialcommentaryonpoliticsandeconomics Thesecondsectionconsistsoffinancialdataandnewsaboutcompaniesandmarkets 2 TheFinancialTimesadvocatesfreemarketsandisinfavourofglobalisation IthasaligneditselfwithLabourintheUK ItwasalsosupportiveofGordonBrown theformerBritishPrimeMinister Duringthe1980sitsupportedMargaretThatcherandRonaldReagan smonetaristpolicies 在1980年代 它支持撒切尔夫人和罗纳德 里根的货币政策 在英国它已经与工党结成同盟 还支持戈登 布朗 前英国首相 3 TheFinancialTimesdeclareditssupportforLabourasearlyas1992generalelection whenNeilKinnock 尼尔金诺克 wasattemptingforthesecondtimetoreturnLabourtogovernmentforthefirsttimesincetheyhadbeenoustedfrompowerin1979 TheFinancialTimesWeekend TheFinancialTimespublishesaSaturdayeditionofthenewspapercalledtheFinancialTimesWeekend Itconsistsofinternationaleconomicandpoliticalnews Companies Markets Life Arts House HomeandFinancialTimesMagazine Thefinancialcrisis2008年金融危机 The2008financialcrisisisconsideredtobetheworstfinancialcrisissincetheGreatDepressionofthe1930s Itwastriggeredbyacomplexinterplayofpolicies whichwereadoptedbyAmericangovernmenttostimulatetheeconomyandencouragedpeopletobuyhouses Banksprovidedeasieraccesstoloansforsubprimeborrowers 次级贷款人 andoverevaluatedthebundledsubprimemortgages 次级抵押贷款 basedonthetheorythathousingpriceswouldcontinuetoescalate Unfortunatelyhomepricespeakedinthewinterof2005 06andstartedtogodown andthehouseofcardsstartedtocrumble 崩溃 Peoplecouldnolongerincreasetheirmortgagedebttopaypreviousdebts In2008 approximately6 ofallmortgageloansinUnitedStateswereindefault 违约 andahugeportionoftheincreasedmortgageloandefaultswerewhatarereferredtoas subprime loans 次级贷款 TheburstingoftheU S housingbubble whichpeakedin2006 causedthevaluesofsecuritiestiedtoU S realestatepricingtoplummet 骤然下降 andresultedinthethreatoftotalcollapseoflargefinancialinstitutions thebailout 紧急援助 ofbanksbynationalgovernments anddownturnsinstockmarketsaroundtheworld Thecrisisalsoplayedasignificantroleinthefailureofkeybusinesses declinesinconsumerwealthestimatedintrillionsofUSdollars andadownturnineconomicactivityleadingtothe2008 2012globalrecessionandcontributingtotheEuropeansovereigndebtcrisis 欧洲主