It's reported that student debt in the USA is approaching a trillion dollars, five times what it was ten years ago.

Are those in debt buying more education or are they seeking better branding in the form of coveted diplomas?

Does a $40,000 a year education that comes with an elite degree deliver ten times the education of a cheaper but no less rigorous self-generated approach assembled from less famous institutions and free or inexpensive resources?

If not, then the money is actually being spent on the value of the degree, on the doors it will open and the jobs it will snag. If this marketing strategy works big, it pays for itself in no time.

A marketing tactic might move the dial, but that doesn't mean it's always worth the money.

The question is whether a trillion dollars is the right amount for individuals to spend marketing themselves. What would happen if people spent it building up a work history instead? On becoming smarter, more flexible, more self-sufficient and yes, able to take more risk because they owe less money…

There's no doubt that we need smarter and more motivated people in our organizations. I'm not sure we need them to be better labeled or more accredited.

The Katonah Lewisboro School District is negotiating a contract for the position of superintendent of schools with Dr. Paul Kreutzer, officials announced Thursday evening.

After receiving more than 40 applications for the position, conducting interviews and visiting Kreutzer in his current home school district of New Berlin, Wisconsin, the school board decided to offer the position to Kreutzer, said Mark Lipton, vice president of the school board.

“We are pleased that our search is nearly complete, and look forward to introducing Dr. Kreutzer as the next educational leader of the Katonah-Lewisboro School District,” he said in a statement posted to the district’s website.

The Board of Education will make a formal introduction and offer further information about Dr. Kreutzer upon resolution of the contractual agreement.

First story:

The Lewisboro Ledger reported today that the Katonah Lewisboro School District has offered the position of schools superintendent to Dr. Paul Kreutzer, who currently serves as the school superintendent of the New Berlin school district in Wisconsin.

Kreutzer, 40, will replace Robert Roelle, who retired from the position in February.

Earlier today, the district and some school board members had said they were not ready to make an announcement regarding a new superintendent. Interim Superintendent Michael Jumper referred press calls to Mark Lipton, school board vice president, who said the search process was advancing but not yet finalized.

Calls to Kreutzer were not immediately returned. The school district has not yet released an official statement regarding the superintendent selection.

Check back with Patch for updates to this story.

 Mortgage rates continued a gradual climb this week for the fourth consecutive week, with rates on 30-year fixed-rate mortgages approaching highs for the year registered in February, Freddie Mac said in releasing the results of its latest Primary Mortgage Market Survey.

For the week ending April 14, rates on 30-year fixed-rate mortgage averaged 4.91 percent with an average 0.6 point, up from 4.87 percent last week and 5.07 percent a year ago.

The 30-year fixed-rate mortgage hit an all-time low in Freddie Mac records dating to 1971 of 4.17 percent during the week ending Nov. 11. This year, rates on 30-year fixed-rate loans have ranged from 4.71 percent in early January to a high for the year of 5.05 percent during the week ending Feb. 10.

“Although rates on 30-year fixed mortgages have risen four weeks in a row, they have remained below 5 percent for eight straight weeks now, helping to maintain affordability in the housing market,” Freddie Mac Chief Economist Frank Nothaft said in a statement.

Rates on 15-year fixed-rate mortgages averaged 4.13 percent with an average 0.7 point, up from 4.1 percent last week but down from 4.4 percent a year ago. The 15-year fixed-rate mortgage hit a low in records dating back to 1991 of 3.57 percent in November.

For 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) loans, rates averaged 3.78 percent with an average 0.6 point, up from 3.72 percent last week but down from 4.08 percent a year ago.

The 1-year Treasury-indexed ARM averaged 3.25 percent with an average 0.6 point, up from 3.22 percent last week but down from 4.13 percent a year ago.

Looking back a week, the Mortgage Bankers Association said demand for purchase loans was down a seasonally adjusted 4.7 percent during the week ending April 8 when compared to the week before, and down 11.4 percent from a year ago.

Requests for refinancings accounted for 60.3 percent of total mortgage applications, the lowest refinance share since May 7, 2010, the MBA said in its Weekly Mortgage Applications Survey.

In a March 15 forecast, MBA economists said they expect rates on 30-year fixed-rate loans will average 5 percent during the first half of this year, rising to an average of 5.3 percent in the third quarter and 5.5 percent in the final three months of 2011.