How will families afford college and grad schools?

[Anonymous]

Anonymous wrote:I went to a private university that was known to be one of the most expensive schools in the country. And it was manageable for a UMC family without 529s and 18 years of savings. Obviously this was a thousand years ago, but I do wonder where on earth the money is going at these schools charging $98,000 a year today, which is not at all manageable for UMC families with a couple of kids today.

And it's the administrators. In 2021, the President of Penn, Amy Gutman, made an astonishing $21 million dollars. A Stephen Klasko, at someplace called Thomas Jefferson University, made $3.5 million. The president of something called the Savannah College of Arts and Design, a Paula Wallace, made more than $2.5 million. So too did Daniele Struppa at something called Chapman University. The president of Columbia made $3.8 million. The president of Drexel made $2.6 million. And so on. And this was nearly five years ago. Who knows what college administrators are making now. And geez, Penn. What the hell went wrong with that board?

And all these schools have a million deans and provosts raking it in for doing not very much. The tuition dollars are not going to professors and researchers and all the people that make universities valuable. It's become a scam for academic bureaucrats. That's where the money goes.

You were not umc if you could fully pay debt free.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I went to a private university that was known to be one of the most expensive schools in the country. And it was manageable for a UMC family without 529s and 18 years of savings. Obviously this was a thousand years ago, but I do wonder where on earth the money is going at these schools charging $98,000 a year today, which is not at all manageable for UMC families with a couple of kids today.

And it's the administrators. In 2021, the President of Penn, Amy Gutman, made an astonishing $21 million dollars. A Stephen Klasko, at someplace called Thomas Jefferson University, made $3.5 million. The president of something called the Savannah College of Arts and Design, a Paula Wallace, made more than $2.5 million. So too did Daniele Struppa at something called Chapman University. The president of Columbia made $3.8 million. The president of Drexel made $2.6 million. And so on. And this was nearly five years ago. Who knows what college administrators are making now. And geez, Penn. What the hell went wrong with that board?

And all these schools have a million deans and provosts raking it in for doing not very much. The tuition dollars are not going to professors and researchers and all the people that make universities valuable. It's become a scam for academic bureaucrats. That's where the money goes.

Why are you disparaging fine universities by saying “someplace called” Thomas Jefferson University? It is one of the better medical schools in the country. Ranked #57. Just below with Texas (44), Georgetown (48) and UMD (50). It is also well ahead of Tulane (86), GWU (117), and VT (129). Oh, and Drexel is 106.

https://med.admit.org/school-rankings

+ 1 Yes, seriously.

[Anonymous]

Anonymous wrote:Yeah that’s the whole point. They don’t want people going to college.

They want dumb people who will believe FOX news. Attending college means you meet different kinds of people, develop more empathy, and other things the dictator doesn't want us to be or do.

[Anonymous]

Schools that can't justify their cost will have to lower the cost. It's actually already happening. Sticker price is meaningless for private schools that aren't highly ranked. They all give discounts.

[Anonymous]

Anonymous wrote:BBB is limiting loans for undergraduate and graduate schools. Private college tuition is probably going to be 100k by the time my kid(s) go to college.

Duh, you find schools that will give your kids scholarships? You might have to drop down a notch, but it’s certainly possible. Or go in the military for a few years?

[Anonymous]

Anonymous wrote:BBB is limiting loans for undergraduate and graduate schools. Private college tuition is probably going to be 100k by the time my kid(s) go to college.

You won't afford it at higher tuition schools. That's the point. They're punishing those schools for being "woke."

[Anonymous]

Anonymous wrote:

Anonymous wrote:BBB is limiting loans for undergraduate and graduate schools. Private college tuition is probably going to be 100k by the time my kid(s) go to college.

Go to state school or community college.

It's not rocket science here.

+1

Next.

[Anonymous]

We'll just cash flow it. It's not a huge expense for us. For a typical middle class family it will be hard. Maybe we will see more kids flowing back into regional publics and top privates going back to the land of the wealthy or really well qualified lower classes.

Top Privates will be finishing schools for the wealthy or upward mobility schools for the talented lower SES population. Not really a place for the typical middle class or UMC student.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Yeah that’s the whole point. They don’t want people going to college.

They want dumb people who will believe FOX news. Attending college means you meet different kinds of people, develop more empathy, and other things the dictator doesn't want us to be or do.

And you can accomplish all of that by attending your state schools or start out at community college and transfer. Why do you feel entitled to someone else paying your way at an expensive private college you clearly can't afford? Pay your own way and live within your means.
DP

[Anonymous]

Unlike law and medical school, MBAs fall under the $100,000 federal limit. This only applies to federal loans, though. Isn't the result that private student loan lenders make more money because of more demand? However, if their parents aren't willing to cosign, the result is probably that only rich kids with parents who are willing to pay or cosign can get an MBA going forward.

[Anonymous]

Anonymous wrote:Schools that can't justify their cost will have to lower the cost. It's actually already happening. Sticker price is meaningless for private schools that aren't highly ranked. They all give discounts.

++++

[Anonymous]

Anonymous wrote:

Anonymous wrote:BBB is limiting loans for undergraduate and graduate schools. Private college tuition is probably going to be 100k by the time my kid(s) go to college.

Go to state school or community college.

It's not rocket science here.

Seriously. Even if we could have afforded private school or private colleges, we would have never spent so much money unnecessarily. Both my kids chose state schools, got STEM degrees that got them jobs, and came out without student debt.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Yeah that’s the whole point. They don’t want people going to college.

They want dumb people who will believe FOX news. Attending college means you meet different kinds of people, develop more empathy, and other things the dictator doesn't want us to be or do.

And you can accomplish all of that by attending your state schools or start out at community college and transfer. Why do you feel entitled to someone else paying your way at an expensive private college you clearly can't afford? Pay your own way and live within your means.
DP

Imagine thinking that loans are an entitlement of someone else paying your way.

[Anonymous]

Anonymous wrote:

Anonymous wrote:BBB is limiting loans for undergraduate and graduate schools. Private college tuition is probably going to be 100k by the time my kid(s) go to college.

Duh, you find schools that will give your kids scholarships? You might have to drop down a notch, but it’s certainly possible. Or go in the military for a few years?

Military is not a good option.

[Anonymous]

If you are low income you will get financial aid. If you are mid-high income you make life choices that allow you to save, your kids go to state schools or ones that give them merit, or you have them take loans. If you are high income or even mid income and prefer vacations, expensive cars, nice lifestyle, vacations over saving, stop complaining.