colleges approaching $80-90k per year

[Anonymous]

At what point will people finally admit college is overpriced and stop paying?

https://www.cbsnews.com/news/ivy-league-tuition-90000-per-year-prices-just-keep-going-up/

And before you try to claim that that is just sticker price and no one actually pays that amount, many families actually do have to pay gargantuan college costs because they make slightly too much to qualify for the bulk of financial aid, yet aren't rich enough to afford it in cash. The ROI is dwindling every single year when much of this knowledge can be learned at community colleges, online for free or for a fraction of the cost, and you can checkout books for free from a local library. The median HHI the US is $71k, yet college fees are now exceeding the entire yearly HHI. Patently absurd. But at least the kids get country club level amenities and tons of admins make 6 figure salaries. Interest rates have been rising due to the central bank, so students taking out loans to pay for this disaster will be kneecapped for even longer. Such a terrible ROI.

[Anonymous]

I’m more concerned that many state schools give zero financial aid to anyone and cost $30-40k/year.

[Anonymous]

Anonymous wrote:At what point will people finally admit college is overpriced and stop paying?

https://www.cbsnews.com/news/ivy-league-tuition-90000-per-year-prices-just-keep-going-up/

And before you try to claim that that is just sticker price and no one actually pays that amount, many families actually do have to pay gargantuan college costs because they make slightly too much to qualify for the bulk of financial aid, yet aren't rich enough to afford it in cash. The ROI is dwindling every single year when much of this knowledge can be learned at community colleges, online for free or for a fraction of the cost, and you can checkout books for free from a local library. The median HHI the US is $71k, yet college fees are now exceeding the entire yearly HHI. Patently absurd. But at least the kids get country club level amenities and tons of admins make 6 figure salaries. Interest rates have been rising due to the central bank, so students taking out loans to pay for this disaster will be kneecapped for even longer. Such a terrible ROI.

Most companies won’t hire anyone without a 4 year degree. Their application will be dropped from consideration. That’s why parents care so much about merit money if students don’t qualify for grants, merit money is their only option.

[Anonymous]

same! State schools should be supported by tax payer dollars and go back to being bare bones amenities wise and be affordable enough that an 18 year old working part time can afford it without loans (waiting tables, etc.. should earn enough money that you can live with roommates and afford tuition) State legislatures cut funding for the university systems in 2008 and never readjusted b/c parents were willing to pay.

I would rather my kid had grody furniture and concrete flooring for 4 years than $1000s of dollars in debt for 30 years. Its good life lesson, you live a lifestyle you can afford and dont go into debt for lifestyle upgrades and you have to hustle to make it. sure it is unfair that some people who are just as deserving as you have more money and luxuries b/c they lucked out on the parental lottery that way but there is no real proven economic system to address that properly. indentured servitude servicing debt for 4 years of undergrad is NOT the answer.

[Anonymous]

Anonymous wrote:same! State schools should be supported by tax payer dollars and go back to being bare bones amenities wise and be affordable enough that an 18 year old working part time can afford it without loans (waiting tables, etc.. should earn enough money that you can live with roommates and afford tuition) State legislatures cut funding for the university systems in 2008 and never readjusted b/c parents were willing to pay.

I would rather my kid had grody furniture and concrete flooring for 4 years than $1000s of dollars in debt for 30 years. Its good life lesson, you live a lifestyle you can afford and dont go into debt for lifestyle upgrades and you have to hustle to make it. sure it is unfair that some people who are just as deserving as you have more money and luxuries b/c they lucked out on the parental lottery that way but there is no real proven economic system to address that properly. indentured servitude servicing debt for 4 years of undergrad is NOT the answer.

Or parents were willing to take out tens of thousands in Parent Plus Loans, and are allowed to with little regard for their ability to pay them back. They have 20% default rates & climbing. Only an idiot would think that parents should be allowed to take out PPLs up to the school’s calculated attendance, but somehow they can, and here we are. Do you think a parent who feels the need to take out $100k in Parent Plus Loans has a prayer of paying that back in full once interest kicks in? Do you think that handing out those loans is a good investment on the federal government’s part? I’d say no.

[Anonymous]

Anonymous wrote:

Anonymous wrote:At what point will people finally admit college is overpriced and stop paying?

https://www.cbsnews.com/news/ivy-league-tuition-90000-per-year-prices-just-keep-going-up/

And before you try to claim that that is just sticker price and no one actually pays that amount, many families actually do have to pay gargantuan college costs because they make slightly too much to qualify for the bulk of financial aid, yet aren't rich enough to afford it in cash. The ROI is dwindling every single year when much of this knowledge can be learned at community colleges, online for free or for a fraction of the cost, and you can checkout books for free from a local library. The median HHI the US is $71k, yet college fees are now exceeding the entire yearly HHI. Patently absurd. But at least the kids get country club level amenities and tons of admins make 6 figure salaries. Interest rates have been rising due to the central bank, so students taking out loans to pay for this disaster will be kneecapped for even longer. Such a terrible ROI.

Most companies won’t hire anyone without a 4 year degree. Their application will be dropped from consideration. That’s why parents care so much about merit money if students don’t qualify for grants, merit money is their only option.

And most companies will have starting salaries for colleges grads around $60k or below.

The ROI decreases by the day as total costs are going to approach $100k soon.

[Anonymous]

No.

It is the high price that makes it worthwhile.

As you say, knowledge is free. Between the internet and the library you can access pretty much everything for zero cost. That is not what college is about.

It is a) a signal to employers that you had a good enough combination of intelligence, money and background to be admitted, and b) it is about the contacts you make there.

The contacts you make in place that charges $100 k a year are going to be far wealthier, and therefore far likelier to succeed, because they have every advantage already, than the contacts you will make in a place that charges $10k a year.

It is simply a way for the elites to perpetuate themselves. Nothing to do with education.

And let's not pretend we don't love it for that very reason. I don't know how my kids would fare if they were born into a working class family in West Virginia or Detroit. And, thanks to the US plutocratic system, I am never going to have to find out.

[Anonymous]

Quote from today's WSJ:

"Jim Fish, chief executive of Waste Management Inc., described the situation this way: “We can’t hire a truck driver to drive a trash truck for $90,000 in Houston, Texas, but I can hire an M.B.A. from a small school for $60,000, and I can get them all day long.”

[Anonymous]

Anonymous wrote:No.

It is the high price that makes it worthwhile.

As you say, knowledge is free. Between the internet and the library you can access pretty much everything for zero cost. That is not what college is about.

It is a) a signal to employers that you had a good enough combination of intelligence, money and background to be admitted, and b) it is about the contacts you make there.

The contacts you make in place that charges $100 k a year are going to be far wealthier, and therefore far likelier to succeed, because they have every advantage already, than the contacts you will make in a place that charges $10k a year.

It is simply a way for the elites to perpetuate themselves. Nothing to do with education.

And let's not pretend we don't love it for that very reason. I don't know how my kids would fare if they were born into a working class family in West Virginia or Detroit. And, thanks to the US plutocratic system, I am never going to have to find out.

Wow

[Anonymous]

Don’t go to a college that costs $90k/year. Or $50k/year.

[Anonymous]

Anonymous wrote:Don’t go to a college that costs $90k/year. Or $50k/year.

My kid is in middle school. By the time they apply, instate will be 50k/year

[Anonymous]

Anonymous wrote:Don’t go to a college that costs $90k/year. Or $50k/year.

If you don't have the money saved or can't easily cash flow it, yes, that would be the smart approach. No school is worth that much debt.

Find schools that offer merit and go to somewhere you can afford. The "connections" made at a "Top school" are really only beneficial for really poor, unconnected students, so the student who goes to Harvard on full Financial aide will Geta. slight benefit. The kid who pays $50K+/year will not. Definately not worth $100K+ in debt.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Don’t go to a college that costs $90k/year. Or $50k/year.

My kid is in middle school. By the time they apply, instate will be 50k/year

Probably not- states don't raise their tuition at as high as percentage as these private schools do. I have one at each and the increase of tuition at the private school is insane, even with today's inflation. They are not accountable to elected officials.

[Anonymous]

Wealthy doesn't care because its peanuts for them. Poor and middle class doesn't care because elite colleges have huge endowments and give generous need based aid. Its only an issue for middle and upper upper middle tiers. Whenever there is an outrage on parent group of my kid's college, people who aren't paying tend to support college. They don't offer any empathy.

[Anonymous]

Anonymous wrote:Don’t go to a college that costs $90k/year. Or $50k/year.

Lack of empathy.