Reply to Is It Really Gonna Cost $280K? OMG

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Instead of judging people's choices of HOW they will be paying for college...

How about we all ask the question, WHY does college cost $280K????

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Yes, that's the real question. And in a few years, it's going to top $100K per year. Salaries are not increasing at that rate.

Those who have the $$ to pay are missing this point. Do you really want your kids going to college only with other children of rich people, and those poor enough to receive FA?

That cuts out a lot of very bright kids.

[b]As I understand it, the outrageous increases in college prices began when student loans became plentiful.[/b] Everyone was offered student loans, so everyone borrowed lots of money to go to college, which is insane, but it brought a huge pool of money into these private colleges, and they increased their prices every year as a result.

As a result, the marketing departments of these private colleges grew exponentially. Look at all those slick brochures your kid receives, even from the most elite colleges. It's sickening the amount of money they pay to market themselves.

The humble brags on this thread are annoying. Good for you if you are lucky enough to pay $75K for less than 9 months of college for your kid. That's nice for you, but it does not address the problem that most people cannot begin to afford $280K for a four-year college degree, and double or triple that if you've got multiple college-bound kids.

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Another factor in the massive tuition increases we've seen is that states started electing Republican governors who cut funding to state universities, leaving them no choice than to jack up tuition.  We all pay the price (far more than we would have paid in taxes to keep subsidies at the same levels) for those votes.  There's a thread on this.

https://newrepublic.com/article/135972/republican-war-public-universities

And another is the corporationification of universities resulting in hiring expensive administrators emulating a business model and compensation design of corporations.

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+1000[/quote]

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