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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

#301

Post by fifityyp »

mam2 wrote: post #272
kansface wrote: post #171

Earlier quoted context omitted.

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…

> I will also point out that the European model is not free, universal college degrees for all - access is restricted behind rigorous entrance exams WHAT ?? Not. at. all. I'm french and university is almost FREE (never more than 1000 euros a year and mostly around 300) for anyone with the A-level, at any age. Yeah of course there are exams like for any diploma in the entire world but there are not "super rigorous" es…

Standard Univ courses (at least in science and economics) are way subpar compared the same degree pursued in schools or high-end universities with a competitive exam in France. Source: I did an engineering school and did one master in university.

However, I liked more the atmosphere in University.

Also, most private eng schools are crap though they're quite expensive.

So it doesn't seem that tuition have an incidence on quality, at least in France.

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

#302

Post by privateSFacct »

kome wrote: post #250
kansface wrote: post #171

Earlier quoted context omitted.

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…

> universal college degrees for all - access is restricted behind rigorous entrance exams. that's just not quite true in all major European countries I have a direct experience with.

It is true, you cannot get in without your Hochschulzugangsberechtigung (University Entrance Qualification).

Can you name a SINGLE well known major university that does not have this and allows anyone a free education? I will post the requirements here. It is not open to all by any means - their are STRICT quotas.

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

#303

Post by panzagl »

Vysero wrote: post #248
jimbob45 wrote: post #234

I see a lot of people telling everyone to just go to another university if the one you want is too expensive or isn't up your standard in the degree you're chasing. Remember that out-of-state tuition effectively bars students from attending any university outside of their state and, if you're in a smallish state like Oregon, your options can be pretty limited, particularly if you'd like to stay in one geographical re…

Not really, out of state tuition per term at Montana state university Bozeman (go cats!) is only 6k/term.

Don't know when you went, but Montana State is more than that now.

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

#304

Post by _bxg1 »

mytailorisrich wrote: post #294
_bxg1 wrote: post #268

Earlier quoted context omitted.

"Reasonable" is relative. Tuition at U.S. "public" universities is still around $10k per year, even if you're in-state: https://www.cnbc.com/2019/04/24/tuition-at-public-universiti...

The "real median household income" in the US is $76k [1]. This means that $10k a year for university is far from being unreasonable considering that a family has 18+ years to save for it if they decide to do so. That's $185 a month (3% of income), ignoring inflation and interest rates, to get $40k in the bank on the day your child turns 18. It is therefore not a question of affordability but a question of priority fo…

Seeing as 40% of Americans can't cover a $400 emergency, I highly doubt the average American family has a surplus $185 each month just sitting around.

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

#305

Post by buboard »

jetpks wrote: post #237
asdfman123 wrote: post #189

Earlier quoted context omitted.

I would be angry because I lived in the cheapest apartment I could and biked as much as I could until I paid everything off. Had I been less responsible, I would get more money under debt forgiveness. The incentives are inverted. I'm all for wealth redistribution but messing with incentives is shown over and over again to be a bad idea. Also, my perspective as the kind of frugal guy that everyone else calls cheap is…

Because you suffered, everyone in perpetuity must also suffer?

If this argument is made in public, people will never support debt forgiveness. not only it breaks the social contract with severe entitlement, it's also very hard to accept that people who can afford harvard or stanford "suffer"

populist emotional arguments are good when there is the populus to empathize with it. the vast majority of people won't care for such "plight".

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

#306

Post by contingencies »

A few years ago an American friend told me the cost of his masters at Colombia was about USD$180K for 1 year, taking all expenses in to consideration. Journalism.... insane... no way that money is coming back without a pivot to public policy!

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

#307

Post by [deleted] »

codedokode wrote: post #166

The prices in USA look exorbitant. If a worker works full year for minimum wage, they earn $7.25 * 8 * 253 = $14674. Such worker will have to work for 6 years and 9 months to pay tuition costs for 1 year, if we assume that they don't have to pay taxes, buy food, visit a doctor and pay the rent. A house may cost several hundred thousands dollars or higher. If that worker has paid for a university, no way they will be…

[deleted]

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

#308

Post by rayiner »

t0mas88 wrote: post #179
mc3 wrote: post #162

Earlier quoted context omitted.

They used to do this in the UK probably until the 90s but then they'd start charging "tuition fees" although to be fair I think they were standardised, so the same fees for any university, and fairly small, with support for poorer families. I think having so many people go to university is a big burden to pay for. Part of the solution is not so many people going to university.

But that's a very short term solution. Because with low cost labor globalizing and moving out of the EU and US, you will either need more highly educated knowledge workers to be competitive or accept a bigger group in society get very low wages or unemployment.

The U.S. has competitive rates of college attainment compared to European countries, especially among older workers: https://www.oecd.org/education/France-EAG2014-Country-Note.p... (see page 2).

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

#309

Post by whafro »

One big problem here is that they'll be rewarded in the rankings. A bit part of the various rankings models (US News, etc) is how much money is spent on each student. So squandering $10k more on students next year is, in certain respects, a good investment for a university with decent cash flow.

And the question of how much money is spent on a student can be disconnected from the question of tuition, at least at top-tier schools:

At my alma mater, Bowdoin, the college spends just shy of $100k per student each year. The comprehensive fee (incl. room & board) is around $72k per year, and for students qualifying for financial aid (abour half), the college provides grants that bring it down to about $24k per year, which almost resembles something sensible.

But if you're a donor, and you give an unrestricted gift to a top-tier college or university, there should be absolutely no expectation that your donation will be spent frugally. In fact, for rankings purposes (which help all the cash flow stuff above), it just matters that it gets raised and spent.

I think this is one of the biggest problems in American higher ed, and I'm hoping there are a few institutions with the fortitude of character to stand against it and work toward, rather than against, a cost-effective education model in the US.

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

#310

Post by tqi »

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…

Loans for education are different from loans for a house or car since your lender cant repossess your degree/the connections you made while in school, which is the original reason these loans were made to be non dischargeable.
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