College Tuition Cost

[gmh1013]

Is it me or has the cost....even in state cost got out of control? My wife's daughter just finished at ASU and I noticed the cost was 658 dollars for 3 hours ....after I got up off the floor I told her when I went it was like 21-24 dollars for three hours ....and I thought that was high.....my brother said it was like 4-5 for 3 hours when he started in 1970. Is todays classes worth 100 times more than 40 years ago?....I really don't think so.
I just looked up Texas A&M for undergrad biz school and its a steal at 529.65 for three hours. If I was 18 I would become an A.C. repair guy before I would rack up that kind of debt and start my own business. I also think since everybody has some degree compared to 25-30 years ago is dragging down the benefits of having one to start with....and the salaries with it.

[wantonebad]

I think you are shooting fish in a barrel, there is no justification for the current cost of higher education. On the other hand, there is no price that can be put on teaching young people how to use their brain and how to learn, and that's exactly what good schools do.

[gmh1013]

Originally Posted by wantonebad

I think you are shooting fish in a barrel, there is no justification for the current cost of higher education. On the other hand, there is no price that can be put on teaching young people how to use their brain and how to learn, and that's exactly what good schools do.

The world needs ditch diggers too....Judge Smails

[gmh1013]

Since Im retired I hear it from my brother who has undergrad degree in Math and Is a Petroleum Eng is how dumb some these kids coming out of school with engineering degrees are.
The well he just got off of he was telling me some 27 year old end could not figure out how much drilling mud volume was needed given the well bore and depth plus surface casing....without a calculator. He said he could figure it out faster using a slide rule vs him pecking it out ....and got still got it wrong. His view is some kids are damn smart and some he wonders how the hell they passed any pre eng classes. He said you know how I am maybe my "sunny" disposition made him nervous....but I had to go behind him and recheck his calc....I cant get my ass run off the rig because BP should check who they hire more carefully.

[wantonebad]

Originally Posted by gmh1013

The world needs ditch diggers too....Judge Smails

You have me on that one!! Simply one of the greatest lines ever from one of the funniest movies ever!! Caddy Shack and Animal House have to be the most quotable movies on the planet!!

[psv]

This is what happens when you turn education into a profit-maximing buisness.

[gmh1013]

Originally Posted by psv

This is what happens when you turn education into a profit-maximing buisness.

Its turned into a money making racket....with emphasis on sports vs quality education.

[69mach351]

People really need to evaluate the degree and the institution before they spend the money to earn a degree. There are a lot of degrees that will never be worth it when you take into account the cost of schooling, not working full time during that time, etc.

When I entered college in 2002, I paid around $100/credit hour. When I got out in '06 it was $150. Grad school at a smaller, but still public institution was $335/hr and that was very cheap for a decent degree.

[salty_snack]

$3k to $6k for 12 - 18 credit hours seems to be the norm for many state schools. Seems like a good deal to me if you are going to a decent school, working hard, and learning applicable skills that will ultimately make you a productive member of the workforce.

Sure, you can find dumb a**es graduating from most universities but that won't be solved until we start failing students for sub-standard performance.

[wctm68]

I started saving b/f my 2 girls were born. I currently have 300K saved in 529 plans @ Vanguard and still don't think I have enough...

[dysondiver]

omg ,,, the uk education system still isnt anywhere near that bad.

[Lion]

When I went back to school in the mid 1970's at a State College here in Illinois(S.I.U.)I was paying $295.00USD for Tuition and Fees per Semester. I majored in Plant and Soil Science and worked my butt off. S.I.U.-Carbondale, was considered a "Party School" but the reality was you could party and flunk out of any College if you worked hard at it.....

Turns out after meeting graduates at a Seminar from well known expensive College Programs in Horticulture(Cornell, Rutgers, Ohio State to name a few)my education was far superior to what they studied and learned.....also I too am amazed that younger people today need a calculator to do simple Math. And in Chicago with their Public Schools there are many young adults who graduate and move on and they can't even read a TV Guide!!!

It's a shame really.....

[GoodThings]

Originally Posted by wantonebad

I think you are shooting fish in a barrel, there is no justification for the current cost of higher education. On the other hand, there is no price that can be put on teaching young people how to use their brain and how to learn, and that's exactly what good schools do.

I would love to know what value has been added to justify the price increase. I feel sorry for kids who will have more debt from a four year degree than a doctor had thirty years ago.

[Dr.Brian]

There are two primary problems which lead to the large tuition increases over the last 30 years.
1. States fund their state universities less and less each year. UVA used to get 30% funding from the state, now it is about 5%. They pressure UVA to remain an elite public school and cut support annually. That difference has to come from somewhere, and costs are not going down on anything.
2. It is easy to get loans that are essentially non dischargeable for education expenses, from the government and the private sector. If it was hard to get the loans, the schools would not be able to charge what they do, they'd have no students.

These new deals with being able to discharge your debt after 10 or 20 years will become a problem down the line as more and more debt is forgiven. That money is coming from somewhere as well.

I plan to tell my kids that they can go to The University of Pennsylvania, where I get a very generous faculty tuition benefit, or a public university in the state on my dime (and a less generous but still good Penn faculty benefit) That's it. Exceptions would be considered for Harvard or Stanford or another specialty school (Julliard, etc.) for obvious reasons.
I'm torn with the public vs private debate as I went to a top 20 private school at great expense to my parents, though only about 1/2 of what it would be today 20 years later, and I feel that it was a good environment and I was challenged with strong competition, however my wife went to a highly regarded public university and has also done very well. Both of us have doctoral level graduate degrees, so that muddies the water a bit as well.

[psv]

The other problem with "elite" public schools like UVA is that they are now so in-demand from overseas students willing to pay full tuition that fewer and fewer seats are alotted to VA residents.

[AzPaul]

My niece has just picked a school. In state tuition (Arizona) runs close to $10,000 a year while the few out of state schools she was considering ranged all the way up to $30,000 a year.

'Big Education' is very bit the rip-off 'Big Oil' or 'Big Pharm' have ever been.

[toph]

Everyone is now allowed to get into university and they are ripped off. The majority come out with a sub standard degree, big debt and few prospects. Ain't that the life.

[crew]

Originally Posted by wctm68

I started saving b/f my 2 girls were born. I currently have 300K saved in 529 plans @ Vanguard and still don't think I have enough...

You likely have more than enough for most schools.

[Dr.Brian]

Originally Posted by crew

You likely have more than enough for most schools.

You'd think, but tuition, expenses, room and board at a private school can easily exceed $50k/yr. And for many, a graduate degree of some kind is the new end point.
Fat, drunk and stupid is no way to go through life.

[Lion]

The quality of the Higher Education you receive regardless of the school attended still comes down to what effort is the student willing to give and do to obtain the goal...which in this case is Graduation with a Degree. What priority does a person assign to learning, excelling and obtaining the "Tools" needed to succeed and move on in their life.....

[crew]

Originally Posted by Lion

The quality of the Higher Education you receive regardless of the school attended still comes down to what effort is the student willing to give and do to obtain the goal...which in this case is Graduation with a Degree. What priority does a person assign to learning, excelling and obtaining the "Tools" needed to succeed and move on in their life.....

Well said Leo.

[Cesium133]

Yep, state schools in Illinois are getting pretty expensive. I want to say they're around $30k/year now. Can't even imagine what they will be in 15 years when my kids go off to college. Might need to sell my watch collection to pay for 1 class!

Schools were starting to get expensive when I went through college. My wife and I both went to community colleges for the first 2 years to save money and then completed our degrees at 4 year schools. Saved a ton of money and still got a diploma from a good school.

[gmh1013]

Originally Posted by toph

Everyone is now allowed to get into university and they are ripped off. The majority come out with a sub standard degree, big debt and few prospects. Ain't that the life.

Could not have said it better myself

[wantonebad]

My neighbor just sold his sailboat and donated the proceeds to his sons special needs school. His son is severely autistic and programs that were essential to his classmates care were being slashed by government and private donation cuts. He did what he felt he had to do.

My point being you do what you have to do for your kids, especially if they are deserving or helpless. I'm not saying that parents are obligated to foot the bill, but if you have the money there are worse things to spend it on then your child's education. And where there are financial gaps and parents can't pay unless they damage retirement plans then the kids have to take out loans to fill those gaps.

I hate the idea of kids graduating with all kinds of debt also, but I hate the alternative even more. We need less uneducated people, and parents/kids do need to be wise consumers and pursue degrees that make sense, but the whole cost/benefit debate doesn't work for me on higher ed. Get the union card and then complain about the cost, don't justify blowing it off because of money!! JMHO

[salty_snack]

State schools exist because it is for the good of our community/state/country to have an educated society. Unfortunately our hard earned tax dollars are going to waste on students who don't care to learn, don't go to class, and do the bare minimum just to get by and get that piece of paper (diploma) that proves they are smart... Yeah... right!?!?

College is not a feel good sport... you shouldn't get a participation prize (aka diploma). Students that perform at the top of their class should get a free ride on the tax payers dime because those are the people that will benefit most and will provide the most benefit for the taxpayer dollar. Those that screw off and don't try to learn or just can't hack it with the best students should have to pay an increasingly large percentage all the way down to a fully UN-subsidized tuition. Then put borrowing limits on students and the ones that can't compete will not attend... SORRY, not everyone needs or should have a 4 year degree.

And if you or your family has the cash to pay out the nose so you can perform poorly and not worry about it that's completely your prerogative.

[skprd13]

I have a very sad story about education of my own. I tutored at Kauai Community College and tutored just about every subject they offered. I had a student that really needed help in passing basic math. I asked him a few math questions and thought hmm this is not good. So I thought anyone could answer this next one. What is 20 plus 1. Calculator out he replies 21. I was absolutely speechless! I did not no how to answer but yes that is correct. I ended the session right then and went to speak with his instructor. He only said that he knows the kids coming out of HS are only pushed along and that it is up to us to help them succeed. I thought this is crazy you cannot even add one simple number to another. What the heck! I have a few other stories, however it pains me to relive them just now. No one wants to take responsibility and if you do bad you flunk. Back when I was a young one that is what happened. Now no one flunks in HS. You get a badge, gold star something saying you are a good person congrats you passed HS!!!!

[salty_snack]

I bet you didn't know this...

Foreign students (non-citizens) get to come to the US as grad students in many of the physical science and engineering disciplines and are FULLY funded by TAX PAYER DOLLARS! That means the get their TUITION, FEES, and RESEARCH FUNDING given to them...

PLUS... they get a STIPEND to live on while they are in school. Total benefit is often over $60,000 per year.

Then they can leave or go where ever they want and pay nothing back for the first class education they have received and YOU and I paid for it.

[Presa canary]

I have a feeling the costs of colleges won't keep rising... People are getting tired of this. Just check out what udacity and mooc are doing. Others will certainly follow.

[Laszlo]

I went to film school. Total waste of money.

[Wesley Crusher]

Originally Posted by 69mach351

People really need to evaluate the degree and the institution before they spend the money to earn a degree. There are a lot of degrees that will never be worth it when you take into account the cost of schooling, not working full time during that time, etc.

I certainly hope my degree in underwater basket weaving pays off because I am 150k in student loan debt.