Reply to As schools near $100K/year when will that affect the pool of students?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Just read on another post that someone is paying $95K/year for USC. 
Several kids from my kids' schools are starting there this fall.
 
I know most on DCUM can pony up $400K for 4 years but how many people like this are really out there?
I also know these schools have 40% (or whatnot) that pay $0/year. 
[b]At what point will the price of some of these schools begin to effect the size of their applicant pool?[/b]
Either because people don't have the cash or say "that is insane--screw it". [/quote]

When you’re no longer allowed to take out Parent Plus Loans up to the cost of attendance. NYU & USC graduates are #1 for PPL debt.[/quote]

Or how about when the schools are on the hook when people default on loans? At the moment, the schools risk nothing when they jack up costs.[/quote]

What?  Why would schools be "on the hook when people default on loans?"  Schools do NOT take the loans.  Plenty of people go to these schools withOUT PPL.  
If parents are dumb enough to take PPL, then they need to deal with the repayment.  Nobody is forcing you to do this.  There are literally hundreds of schools you can attend that will be affordable and not require more than regular student loans that max out at 27K for 4 years[/quote]

How can the PPL even work?  If you assume that most of these parents are 50+ years old at the time of signing the loan (and don't have cash in hand at the time) how the heck are they going to pay back $200-300K by the time 
they retire at age 65?  And yes, they can work until they're 80 but realistically not a huge percentage of people have significant earning power over the age of 65 (or are even employable!!)
And not to be too macabre but some (not an insignificant number) will be dead by 65.

I can't imagine 95% of these loans are paid back in full (and many go completely unpaid).
Does the school eat this cost or the federal government? 
[/quote]

[b]The schools have NOTHING to do with these loans. [/b] These loans are between the people who take them out (Parents/Aunts/Uncles/Adults) and the government/whomever gives them the loan.  
I agree, how will most people pay these huge amounts back.  The entities giving these loans are responsible for that (and if its the govt they need to stop as I don't need to pay for what stupid people do).  I think it is STUPID to take these loans. No school is worth it.

Find a school you can AFFORD---it's not that difficult to do.  Search merit awards, go to a state school, make your kid work breaks and summer and earn $10-12K/year.  Start at CC if you can't afford 4 year directly.  Take Dual entry classes in HS and graduate with your AA and then will likely only need 2-3 years in a 4 year college (3 years if engineering, many can finish in 2 if you planned HS dual entry courses well).  Go outside of the T50 schools and get an education you can afford.  The T50 is not worth it if you need to take out 200+ in loans.

[/quote]

You’re missing the point. The availability of these loans drives up the COA even for people who are sending their kids to college full pay without loans. And the school can make up whatever COA it wants.[/quote]

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