Naomi Schaefer Riley, via a Rick Kiley email:

In the spring of 1989 Wendy Kopp was a senior at Princeton University who had her sights set on being a New York City school teacher. But without a graduate degree in education or a traditional teacher certification, it was nearly impossible to break into the system. So she applied for a job at Morgan Stanley instead.
Thinking back to the bureaucratic hurdles of getting a job in a public school, Ms. Kopp tells me it “seemed more intimidating than starting Teach for America.” Which is exactly what she did as soon as she graduated.
What began as a senior thesis paper has since grown into a $180 million organization that this fall will send 4,500 of the best college graduates in the country to 100 of the lowest-performing urban and rural school districts. A few months ago, Teach for America (TFA) received an applicant pool that Morgan Stanley recruiters would drool over. Their 46,000 applicants included 12% of all Ivy League seniors, 7% of the graduating class of the University of Michigan at Ann Arbor, and 6% from U.C. Berkeley. A quarter of all black seniors at Ivy League schools and a fifth of Latinos applied to be teachers in the 2010 corps. It is, I’m told by some recent grads, one of the coolest things you can do after college.