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Increase in UC Applications for Fall 2024 Sees Growth in Diversity and Transfer Students

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The University of California saw a significant rise in applications for fall 2024, with a quarter-million applicants vying for spots at the prestigious UC campuses. This increase was fueled by a resurgence in community college transfer applicants and a more diverse pool of in-state residents, showcasing the university’s commitment to inclusivity and accessibility.

In a preliminary data release on Wednesday, it was revealed that first-year applications from California residents increased by 1.4% over the previous year, with notable gains at eight of the nine UC undergraduate campuses. UCLA, UC San Diego, and UC Irvine received the highest number of first-year applications from Californians, while UC Berkeley saw a slight decrease in numbers.

While applications from out-of-state residents declined, there was a slight increase in international students. This shift may be attributed to the state’s focus on prioritizing Californian students in response to broader educational goals. The most significant growth, however, was seen in transfer applications, which increased by 10.6% over the previous year.

One of the most encouraging trends highlighted by campus admission leaders was the increase in diversity among applicants. Latinos were the largest group of applicants at 39%, followed by Asian Americans at 30%, whites at 20%, Black students at 7%, and other demographics making up the rest. Notably, Black applicants saw a 7% increase in numbers, signaling progress in inclusivity efforts.

The University of California has been successful in fostering a diverse student body despite the ban on race-based affirmative action in the state. This achievement is credited to the university’s holistic review process, community partnerships, and robust financial aid programs that make higher education accessible to students from all backgrounds.

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Additionally, there was a slight increase in low-income applicants, with 40% of first-year applicants coming from economically disadvantaged backgrounds. This is a positive step towards addressing concerns about financial barriers to higher education.

UC campuses have pledged to increase seats for Californian students, but the surge in applications may lead to lower admission rates, especially at highly competitive campuses like UCLA and UC Berkeley. While campus officials celebrate the growing interest in UC education, they acknowledge the challenges of balancing access with selectivity.

The increase in transfer applications can be attributed to a combination of pandemic recovery, renewed interest in community college pathways, and targeted recruitment efforts by UC campuses. By extending application deadlines and partnering with community colleges, UC has been able to reach a broader pool of potential transfer students.

Overall, the rise in applications for fall 2024 reflects the enduring appeal of a UC education and the university’s ongoing commitment to diversity, accessibility, and excellence. UC President Michael V. Drake expressed optimism about the quality and diversity of the applicant pool, emphasizing the long-term benefits of a UC degree for students of all backgrounds.

As UC campuses prepare to review the influx of applications, they are mindful of the challenges of selection and ensuring equitable access to higher education. Despite the potential for lower admission rates, the growing interest in UC education signals a bright future for the university and its mission of serving the diverse population of California and beyond.

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Is now the right time to invest in gold as prices have cooled?

Now may be the time to buy gold following a recent lull in its price.

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The price of gold has climbed to record highs recently and has remained strong through much of April. And, that growth continued until the precious metal traded at around $2,390 per ounce on April 19, 2024. But since, growth in the price of the precious metal has cooled, with gold’s price now hovering around $2,300 per ounce.

This lull in gold’s price may represent an investment opportunity.

In general, investing is centered around buying assets when prices are low and selling them when prices are high – generating a profit on the difference between the two. So, considering the declines in gold’s price over the past few days, now may be the time to make your investment. But is buying gold during this lull in prices really a good idea?

Compare your gold investment options among leading brokers now.

Gold prices have cooled. Should you buy in now?

With gold’s price down from recent highs, you may be wondering if now is the right time to buy in. There are several reasons the dip in gold’s price may represent an opportunity to buy. Here are some of the biggest:

Prices may rise again

If looking at a gold price chart shows anything for certain, it shows that changes in the overall growth of the medal come in fits and spurts. Periods of price growth are typically followed by periods of declines and vice versa.

But with inflation rising in recent months – and with gold’s reputation as a safe-haven asset that can hedge against inflation – it only makes sense that the price of the precious metal will eventually start to head up again in the future. While attempting to time that directional change may be tricky, buying the precious metal while the price is down gives you the opportunity to take advantage of any upward movement that may be ahead.

Add gold to your portfolio now before prices have a chance to rise.

You may be able to make a quick profit

Gold isn’t known as an asset in which you can earn a quick return, but in today’s market, that may be the case. Don’t forget that in January, gold was trading at just $2,000 per ounce. And, by mid-April, the commodity’s price had climbed to around $2,400 per ounce. That’s about 20% growth in a matter of months, much of which happened since March 1 – an impressive climb for any investment asset.

Perhaps more importantly, gold’s price growth through the beginning of 2024 shows that the commodity doesn’t have to be a buy and hold style investment that you keep in a safety deposit box or precious metal depository for years to come. There’s also the possibility that the commodity’s price could climb further ahead, making it a compelling way to potentially generate a quick profit.

There are other benefits of investing in gold

There are other benefits of investing in gold that have little to do with the price growth seen thus far in 2024 – or the lull in prices seen over the past couple of days. Those benefits include:

Inflation protection: Gold has long been considered an inflation hedge, and for good reason. When inflation drives the prices of consumer goods and services up – and the value of the dollar down – gold’s price tends to rise. So, it could be used to maintain the value of your portfolio during inflationary economic conditions. That’s important in today’s economic environment as stubborn inflation continues to weigh on the value of the dollar.
Portfolio diversification: Gold’s price doesn’t always move in the same pattern that bonds or stocks do. So, mixing a reasonable amount of gold into your portfolio (up to 10% of your portfolio assets) as a diversifier could protect you from losses should one or more of your traditional portfolio assets fall in value. “If you have less than 5% – 10% of your net worth in commodities & FX (forex), you should absolutely consider adding exposure to gold and other precious metals,” says Vijay Marolia, money manager and managing partner at the wealth management firm, Regal Point Capital.

The bottom line

Gold’s price has fallen from recent highs – which may represent an opportunity to tap into growth ahead. However, gold isn’t simply a “buy while it’s low and sell while it’s a high” kind of investment opportunity. The commodity can also protect your portfolio from the stubborn inflation we’ve seen thus far in 2024 while acting as a diversification tool that could increase your risk-adjusted portfolio returns. So, consider adding gold to your portfolio today while it has the potential to grow in value.

Joshua Rodriguez

Joshua Rodriguez is a personal finance and investing writer with a passion for his craft. When he’s not working, he enjoys time with his wife, two kids, two dogs and two ducks.