The $10,000-a-year college education has arrived (1981)
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Re: The $10,000-a-year college education has arrived (1981)
#2Adjusted for inflation, that is roughly $26,100 in 2015 dollars.
Re: The $10,000-a-year college education has arrived (1981)
#3Adjusted for inflation, that is roughly $26,100 in 2015 dollars.
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Re: The $10,000-a-year college education has arrived (1981)
#4The 'total package' at some schools recently passed 70K. Assuming 5% education inflation (twice CPI), these schools may hit 100K in 8 years.
Re: The $10,000-a-year college education has arrived (1981)
#5This article hints at schools inability to justify their ever increasing prices. Why is tuition continuing to rise so much faster than inflation? Is this simple supply and demand? Government backed loans create infinite supply to anyone who wants them? How can not for profit schools justify gauging their students?
Re: The $10,000-a-year college education has arrived (1981)
#6The 'total package' at some schools recently passed 70K. Assuming 5% education inflation (twice CPI), these schools may hit 100K in 8 years.
This "total package" typically includes room and board, as well as other normal living expenses (food, transportation, clothing, etc...).
You would be spending that same amount even if you did not attend university (anywhere between $20K-$40k per year in living expenses).
Re: The $10,000-a-year college education has arrived (1981)
#7My tuition fee in a top-notch european technical college (automation engineering) was roughly 3000$/year. But yeah, let's keep cargo-culting the US model.
Re: The $10,000-a-year college education has arrived (1981)
#8The 'total package' at some schools recently passed 70K. Assuming 5% education inflation (twice CPI), these schools may hit 100K in 8 years.
This "total package" typically includes room and board, as well as other normal living expenses (food, transportation, clothing, etc...). You would be spending that same amount even if you did not attend university (anywhere between $20K-$40k per year in living expenses).
Many schools require taking said "total package" for the first semester or first year. I know at my university, all incoming freshmen were required to live on campus and purchase a meal plan. For anyone who lives nearby or planned on shopping around, this is an additional cost.
Re: The $10,000-a-year college education has arrived (1981)
#9My tuition fee in a top-notch european technical college (automation engineering) was roughly 3000$/year. But yeah, let's keep cargo-culting the US model.
You probably forgot taxes in that cost (that you will pay for the rest of your life as a high earner) but, that said, that is a great model: the country makes an investment in you, you prove you are serious about it (the $3000 a year), and in return, the country gets a higher wage earner (and more taxes) to pay for the next generation.
Re: The $10,000-a-year college education has arrived (1981)
#10This article hints at schools inability to justify their ever increasing prices. Why is tuition continuing to rise so much faster than inflation? Is this simple supply and demand? Government backed loans create infinite supply to anyone who wants them? How can not for profit schools justify gauging their students?
1. Infinite supply of loans. Dept of Ed isn't even allowed to deny a loan to a person.
2. Culture since the Clinton era of "everyone should go to college". Massive cultural stigma for those who don't.
3. Colleges continue to justify costs based on lifetime earnings delta of people with degrees. Sadly, this data is backwards-looking and not indicative of what today's students should expect.
The most heinous thing though is that student loans are exempted from American bankruptcy laws. The gov't will give you a loan, without doing any diligence on your ability to repay, but make it impossible to discharge your debt if you go bankrupt.