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U of Chicago projected to be the first U.S. university to cost $100k per year

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Re: U of Chicago projected to be the first U.S. university to cost $100k per year

#81

Post by asveikau »

sorenn111 wrote: post #7

One thing I find crazy is the very same institutions that are generally very left leaning, decry income inequality, and espouse generally liberal views then turn around and having tuition costs that having been rising at rates so far above inflation. Student debt is a major issue in the US and the ever increasing costs of tuition are a MAJOR culprit in pushing this crisis. Where are these costs coming from? How can y…

Has it occurred to you that maybe the state can handle the cost? Compare to how much we spend buying fancy equipment to kill people. (Military spending if that is too indirect a description.)

Consider also that a large amount of student loans are already from the government, so in a default...

Re: U of Chicago projected to be the first U.S. university to cost $100k per year

#82

Post by bryanlarsen »

Finnucane wrote: post #11
sorenn111 wrote: post #7

One thing I find crazy is the very same institutions that are generally very left leaning, decry income inequality, and espouse generally liberal views then turn around and having tuition costs that having been rising at rates so far above inflation. Student debt is a major issue in the US and the ever increasing costs of tuition are a MAJOR culprit in pushing this crisis. Where are these costs coming from? How can y…

I work at one local university, and my wife works at another. One thing we've definitely noticed (and this is a widespread problem) is that the administration is becoming more top-heavy. There are cutbacks in faculty, support, and teaching staff, more reliance on adjuncts (academic temps, basically), and so on, while central administration grows. Expensive new buildings contribute, but less than people suppose. But t…

Alex Tabarrok disagrees: https://marginalrevolution.com/marginalrevolution/2019/05/bl...

Re: U of Chicago projected to be the first U.S. university to cost $100k per year

#83

Post by fortran77 »

misiti3780 wrote: post #71

As a US citizen, I see the US debt bomb ending it two different ways 1. Sanders/Warren get elected and somehow forgive 1.5 trillion in student loans and make education free going forward. 2. 2008 level crisis with (2) is the more probable I think universities tuition is way too expensive in our country, but I'm against (1) currently because I don't think retroactively forgiving debt is a good policy. The students too…

I'm completely against forgiving student loans. I want to solve the problem, which means no more Government backed student loans. (I'm all for the Government building more low-cost public Universities, though.)

But if they are going to forgive them, certainly the students who prided themselves on being the best and the brightest should have known better! Therefore, anyone in the top 10% of SAT scores or at the top 100 schools should not be eligible for discharge. If you're smart enough to get into Chicago or Harvard, you're smart enough to know how loans work.

Re: U of Chicago projected to be the first U.S. university to cost $100k per year

#84

Post by quaquaqua1 »

barneygumble742 wrote: post #56
quaquaqua1 wrote: post #25

Earlier quoted context omitted.

I attended the University of North Carolina at Chapel Hill, which had a "total cost of attendance" for out of state students at $40,000 in 2010. For in state students it was only $15,000 per year. I came from a "middle class" family and received "grants" from the school, such that my cost of attendance per year averaged to $25,000. Ever since I graduated, not a single person has ever asked me anything regarding my ed…

Same here. I paid roughly $5k/year for undergrad and about $10k/year for grad. After graduation, only reason people ask me where I went to school was to see where it ranked in college sports. Since my school barely registered, it's easily dismissed. Even better for me since I don't follow sports. What I did find more interesting is that it all depends on your work ethic and how you carry yourself at the workplace. My…

Oh my god this. It's cancer. I had to learn all thse obscure facts about things I care about just to have a baseline credibility with those types of people.

It's a hazing ritual similar to data structures and algorithms, but one is certainly more useful than the other.

Re: U of Chicago projected to be the first U.S. university to cost $100k per year

#85

Post by phkahler »

Let's assume a full time student taking 4 courses at a time. A professor might (should) be able to teach 4 classes. I'm not sure how much profs make, but let's assume between 1 and 3 students could pay them. Now where does the money from all the other students in the classes go? Sure, there's admin overhead, room costs, etc, but that stuff is hopefully less than the prof costs. So 6 students max to cover costs for a class. Where does the money go from all the others?

Re: U of Chicago projected to be the first U.S. university to cost $100k per year

#86

Post by Finnucane »

wtvanhest wrote: post #26
Finnucane wrote: post #11

Earlier quoted context omitted.

I work at one local university, and my wife works at another. One thing we've definitely noticed (and this is a widespread problem) is that the administration is becoming more top-heavy. There are cutbacks in faculty, support, and teaching staff, more reliance on adjuncts (academic temps, basically), and so on, while central administration grows. Expensive new buildings contribute, but less than people suppose. But t…

Yes, admin is a problem, but its not just admin. If you are a professor making 150k+, you have to ask yourself how much of your salary is being funded by rampant, unsustainable borrowing. Colleges need dramatic, across the board cost cutting including professors, admins etc. Colleges are in for a world of pain in the next 50 years.

>If you are a professor making 150k+, you have to ask yourself how much of your salary is being funded by rampant, unsustainable borrowing.

Also, how much of your funding comes from unsavory sources like Jeffrey Epstein and the Saudi government.

Re: U of Chicago projected to be the first U.S. university to cost $100k per year

#87

Post by notfromhere »

bluetidepro wrote: post #14

Is University of Chicago even that good? Genuinely curious, as I know nothing about it. I live here in Chicago, and feel like I never hear about it, compared to say Northwestern or like UIC (University of Illinois at Chicago). Why would anyone ever pay that much for college yearly, if it wasn't like the #1 school, by a landslide, in the US? EDIT: I guess it is good? haha The more you know. Just surprising that I've b…

They don't have the same kind of PR as other major universities (Stanford, Harvard), even though they compete on that level.

UIUC has a similar problem that its a top school but isn't well-know outside the immediate region

Re: U of Chicago projected to be the first U.S. university to cost $100k per year

#88

Post by Finnucane »

bryanlarsen wrote: post #82
Finnucane wrote: post #11

Earlier quoted context omitted.

I work at one local university, and my wife works at another. One thing we've definitely noticed (and this is a widespread problem) is that the administration is becoming more top-heavy. There are cutbacks in faculty, support, and teaching staff, more reliance on adjuncts (academic temps, basically), and so on, while central administration grows. Expensive new buildings contribute, but less than people suppose. But t…

Alex Tabarrok disagrees: https://marginalrevolution.com/marginalrevolution/2019/05/bl...

That data is only for public universities.

Re: U of Chicago projected to be the first U.S. university to cost $100k per year

#89

Post by yowlingcat »

trgn wrote: post #75
chrischattin wrote: post #17

How to fix student loans... The .gov backs student loans. And, they are non-dischargeable. So, it is zero risk for the lender to give loan to the 2.7 GPA moron getting a worthless basket weaving degree from the local private lib arts school for $100k. So, they give as many loans as possible, since they can't lose (taxpayer on the hook). Colleges are incentivized to drive up costs of tuition b/c tons of free money. It…

The 100k basket weaving liberal arts student barely exists and is a meme to generate rage clicks.

The 100k in debt grad student becoming an adjunct and needing food stamps not to die of starvation in poverty is a pretty stark reality. One would have to be tone-deaf to pretend it does not exist.

Re: U of Chicago projected to be the first U.S. university to cost $100k per year

#90

Post by sodafountan »

LanceH wrote: post #18
nothrabannosir wrote: post #8

Honest question from an outsider: how realistic would it be for the government to stop guaranteeing student loans over a "public university" (community college?) level threshold? What are the unintended secondary effects? Would it help curb wild-growth of tuition fees?

The very first step should be to make student loans dischargeable in bankruptcy again.

You can't do that because it would be far more beneficial at this point to just declare bankruptcy out of college and get the loans dismissed than it would be to pay them back. Also there's nothing of value to repossess if you were to declare bankruptcy, banks can't repossess and then re-sell a college degree.
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