Daily Higher Education News: 31 October 2012

The TopUniversities.com guide to the latest higher education news from around the world, on 31 October 2012.

New book compares young college teachers to ‘worker bees’

A new book, Worker Bees, The Life of Young University Teachers, highlights the stress, heavy workload and low income experienced by many young academics in China. Author Lian Si, an associate professor at Beijing’s University of International Business and Economics, surveyed university staff aged under 40 in five Chinese cities, reports Beijing Review.

Western Union extends currencies accepted for tuition fees

Money transfer company Western Union is extending the number of currencies foreign students can use to pay their tuition fees in the US, reports the Denver Post. More than 150 US universities use Western Union to enable students to pay fees through the university website, rather than through a wire transfer. The list of currencies students can choose from now includes the Indian rupee, as well as the euro, British pound, Australian dollar and others.

US universities advised to recruit students from Saudi Arabia, Brazil, Turkey, Vietnam

A report published by evaluation company World Education Services advises US universities to recruit from a broader range of countries, to diversify their student communities. In particular, Saudi Arabia, Brazil, Turkey and Vietnam are highlighted as key emerging markets for international student recruitment, University World Newsreports.

New grants for Australian students to study in Asia

The Australian government has announced a (AUS)$37 million program to support Australian students participating in exchange programs at Asian universities, The Australian reports. The AsiaBound program will offer grants of between $2,000 and $5,000 to fund time spent abroad, and $1,000 for preparatory language tuition.

Stanford alumni raise most venture capital, study finds

In a survey of graduates (and dropouts) of six top US universities, those from Stanford were found to be most successful in raising funds for start-up businesses, San Francisco Business Times reports. Companies founded by Stanford alumni raised US$4.1 billion from 203 financing deals, while the fastest growth in venture capital came from companies led by alumni of Harvard and New York University.