Reply to If I am full pay, am I a sucker?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]You’re a sucker in the sense that your full pay is subsidizing other kids.  But at your alleged salary, it’s no big deal, right?  In any event, try to adjust your attitude to understanding that there are those less fortunate than you are.[/quote]

This is such a myth. Full-pay families are not subsidizing other kids because the cost per student is far more than the sticker price. Actually [b]educating a student at an elite college costs $100K+/year.[/b] At these schools (the elite ones that don't really offer merit aid), the difference between tuition and the actual cost is paid for by interest from enormously large endowments.

FWIW, I know that we are likely to be full pay parents, but I don't consider ourselves suckers. As one PP noted, I consider ourselves very, very fortunate. In the grand scheme of things, it is really morally appalling and politically unsustainable that there is such a huge difference in wealth between the top 1% and the lower 90%. [/quote]

I sincerely doubt the bolded part.[/quote]

Do you have any idea about professor salary and tenure, and president earnings?  You seem very naive.[/quote]

Let's say a professor make ~$150K/year (generous; it's probably less). A good college has 10 students for every professor.

An elite president make, what, $1M/year? And there's only one of them.

If it costs over $100K/year to educate a student at an elite college, there's something wrong with how they're handling their money. Maybe too many administrators.[/quote]

You are obviously no economist, accountant, or academic. Colleges also need to pay for classrooms and grounds, utilities, facilities, maintenance and grounds, lab equipment, computers, furnishings, personnel to clean and maintain those grounds, support staff (admissions, HR, deans, health facilities, academic counselors, disability services, etc.). It amazes me when people complain about the cost of education and then also complain that the facilities are sub-par.[/quote]

When tuition is going up at many times the rate of inflation, I think it's right to question where the money is going.[/quote]
Education is a luxury good.  There's far more demand for seats at elite universities than there is supply.  If you don't like it, you can cheap out and send your kid to Nowhere U.[/quote]

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