251–260 of 563 posts
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The government doesn’t just back student loans, it makes the student loans. The government is the lender. More than 90% of all student debt is carried on the government’s books.
The other 10% is still $156Bn... That's more than the GDP of Hungary. It's still worth considering.
I have a high school senior and have been visiting many schools across the U.S. and Canada since last summer. The schools with sky-high all-in costs are not even consideration. If they lop off $10k-$15k per year, we will still be paying a quarter of a million dollars for a four-year education. There are no guarantees of this, either, considering grades and our middle class AGI.
The schools we have looked at are mostly public. Our in-state dream option, UMass Amherst, is "only" ~$30k/year all in, but is now super-competitive, likely because of outrageous private college costs driving families to the affordable options. The only comparable values are the schools we have seen in Canada - University of Ottawa, Carleton University, and Concordia.
Out-of-state public universities for out of state students in New England (URI, UConn, UVM) plus Pitt and Temple are generally high 40s/low 50s. CU Boulder was mid-upper 50s. I can't remember UCSD but it in that range, plus travel considerations.
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Your point about entrance exams is, in general, not true. University applications in Europe are very similar to those in the USA.
What is the European version of SAT/ACT scores and AP tests?
standardized testing is mostly a scam.
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Dude it is a satirical term to symbolize low value programs. It isn’t supposed to be taken literally.
Teachers generate less value (see:income, GDP) than engineers. We should abolish teaching degrees and just teach software engineering at college.
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Most colleges/universities are nonprofits and they still charge tens of thousands per semester. I will also point out that the European model is not free, universal college degrees for all - access is restricted behind rigorous entrance exams. Such a system would be politically untenable in the US wherein a growing movement wants to do away with all entry tests. What would actually happen in practice is that we would…
> access is restricted behind rigorous entrance exams In some countries there is no exam at all.
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There are no lending banks. The money comes directly from the Department of Education.
There are both US-government, and nongoverment private bank, student loans, in the US.
How can these universities be so expensive, if you can instead go to a just-as-good university in the UK for a fraction of the cost, even as a foreign student? Why does anyone agree to pay such fees?
Throughout history, every time loans are invented to pay for something, the price skyrockets. House, Cars, Education... except credit cards. What credit cards did is flatten the salary curve, filling the gap between where salaries should be if they increased as much or more than inflation and the cost of living, with debt. Debt is a powerful tool when used correctly, but most people are unskilled in tool use, financi…
Which is why interest-bearing loans are prohibited in the three major religions. Puts things into perspective.
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What is the European version of SAT/ACT scores and AP tests?
I can only speak for the Netherlands, we have a tiered high school system, and you can enter most university programs with just a high school diploma of the highest tier.
What I find funny in these discussions on HN is how most people seem to be completely oblivious to the obvious solution, proven to work in many developed countries around the world: have the state directly fund universities and don't charge tuition to students (or charge them a small amount). Why is the assumption "universities are private endeavours that should make a profit" something that goes unchallenged on HN?
Most colleges/universities are nonprofits and they still charge tens of thousands per semester. I will also point out that the European model is not free, universal college degrees for all - access is restricted behind rigorous entrance exams. Such a system would be politically untenable in the US wherein a growing movement wants to do away with all entry tests. What would actually happen in practice is that we would…
As another user pointed out, US universities are also restricted in the same manner. Perhaps you're attempting to describe a difference in how they would be perceived and thus perhaps politically digestable, but college admissions is extremely competitive in the United States as well.
The bar for entry has certainly lowered/widened, likely related to financial incentives being discussed in this post.