As the economy continues to plummet and jobs become increasingly scarce, more students are choosing to attend business, law or graduate schools as a ways of riding out the economic storm. UNH is responding by drawing up plans for a new business college and a merger with Franklin Pierce Law Center.
"Many students and young professionals view business school, graduate school or law school as safe havens to ride out the challenging job market and come out even more employable," said Liza Weale, director of graduate programs for Kaplan Test Prep and Admissions.
Weale said Kaplan, a test preparation and admissions company that helps prospective students prepare for such tests as the GMAT and the LSAT, has seen a significant increase in interest in their programs over the last two months.
"Since Sept. 1, interest in our graduate programs has increased nearly 50 percent," said Weale.
At UNH, an increase in business and graduate students is just another reminder students are feeling the strain on both the economy and job market.
Jenna Pearl, a class of 2008 Whittemore School of Business and Economics student, said she's feeling the direct impact of the slumping economy on the job market.
"For me, coming out of college has been a challenge because even though I am qualified for certain positions, employers are only hiring those with many years experience," she said.
Pearl said she believes employers don't have the time or money to train new employees because most companies have recently been forced to lay off staff.
But Pearl, like many others, isn't waiting for the economy to pick up. She has chosen to take an unpaid internship in a company's accounting department and is going to graduate school to strengthen her résumé. She's currently going for her MBA at Southern New Hampshire University in Manchester.
"The lack of jobs has caused me to go back to school in order to up my qualifications and to make myself more marketable," Pearl said.
WSBE Dean Daniel Innis said today's job market is similar to the market he entered after graduating in 1985. He decided to go to graduate school and said it was one of the best decisions he ever made.
Business schools across the nation are trying to expand their available seats to meet the demand for degrees in business, according to the Kaplan survey. UNH is no exception.
WSBE is based in McConnell Hall, and has a capacity of 1,000. However, the school is currently 800 students over capacity and consequently extremely competitive due to lack of space.
Innis said they usually accept around 100 applicants a year and typically don't accept students without at least a 3.0 GPA. He said the school expects higher numbers of applicants for summer and fall of next year, which they will be unable to accommodate.
"We are in a box," Innis said, referring to McConnell Hall. "We've outgrown our facility."
Last summer, a donation of $25 million dollars - the largest donation in university history - was made by Peter T. Paul to start the fundraising for a new business and economics college at UNH.
Paul, a 1967 UNH graduate and New Hampshire native, is president of Paul Financial LLC, a mortgage company, and owner and chairman of Peter Paul Wines. He's a known philanthropist and said he donated the money because he believes in investing in the future of the students at UNH.
Innis said WSBE is moving forward with the project. They signed a contract last month to begin designs for the building. Innis said they hope to get a significant donation from one business in particular they're working with right now, which will substantially cut down the $25 million the school still needs to create the new college. He expects the planning and design phase of the project will be done in the next 12 to 18 months.
The new facilities will feature a café, learning facilities for hands-on learning, gathering areas for students, as well as the latest technology, which would make it possible for students and faculty to download lectures to their iPods.
The college will be located across the railroad tracks from the SERC residential buildings and next to Gregg Hall. The new college will offer room for 2,500 students, which will provide opportunity for growth. Innis said with the physical update, there will also be updates in course offerings.
"The brand new facility would be awesome," said Katie Schmidt, a junior business major and RA in Gibbs Hall. "The introductory classes are pretty cramped now.
"I think it puts you ahead, but I don't think you should go just because the economy is bad."
The name change in particular is causing mixed reactions. The new school would be named Peter T. Paul College of Business and Economics, a name many students are resistant to.
"I like WSBE," Schmidt said. "It's a good acronym. I don't want it to be the PP College."
"As an alumni, I feel that the name change creates another institution and therefore rids the school of the reputation it has built," Pearl said.
Innis said he understands the attachment many feel for the current name. However, he said those working on the project have marketing and advertising experience and, therefore, know how to transfer the name without loosing the school's reputation. Also, he points out that WSBE will still be the name attached to their graduate program.
"A lot of people are fond of the name but don't know the meaning behind it," Innis said. "They have to understand that this is a barrel of money and that obviously Peter Paul has deep affection for us. The board of trustees felt it was good practice to name the college after him."
WSBE was named in 1967 after Lawrence Whittemore, in honor of his service to UNH. The Whittemore Center was later named after his son, Fred, because of his generous donation toward its construction. Innis approached Fred Whittemore when the renaming was in question to ask if he had any concerns.
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