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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

#341

Post by secabeen »

eindiran wrote: post #146
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…

Given that most (yes, most) students at the University of Chicago receive financial aid, what you're seeing is a sticker price. The school is using the high sticker price + financial aid to perform very efficient price discrimination[0], so they can get a lot of money from people who can pay. It is effectively a sliding scale fee [1]. [0] https://en.wikipedia.org/wiki/Price_discrimination [1] https://en.wikipedia.org…

Yes, this. The nameplate tuition is paid by a vanishingly small percentage of students. What I think each school should do is publish data showing what the median tuition paid is, and the quartiles. That would help a lot to fight this perception that "tuition is going up every year!"

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

#342

Post by comicjk »

munificent wrote: post #317
AcerbicZero wrote: post #275

The vast majority of jobs/careers/professions do not require sitting in a classroom for 4 years to learn enough to do them. Even less require sitting in an extremely expensive classroom for 4 years. At the same time learning has never been more accessible. I can study Python, mechanical engineering, calculus, aviation ground school, etc all without leaving the house if I wanted. So how does a commodity like education…

You're assuming the entire point of college is to make you a worker. But a lberal arts education has always been about making you a complete human . If nothing else, it's important for citizens to be well-rounded enough to be informed voters.

If some more education is needed to make people informed voters, maybe we should add a couple more years to the end of high school. Effectively, community college for all. After all, we expect everyone to be a voter, not just those who go to college.

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

#343

Post by tzs »

ilamont wrote: post #252

It's not stated, so I assume that the current "all in" cost is about $75-80k. Some private universities in the Boston area are not far behind, including Brandeis, BU, BC, Tufts, and I believe MIT. 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 st…

> 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.

You might want to reconsider those "schools with sky-high all-in costs". Many of them have very generous non-loan aid packages, which for many people can actually bring the effective cost below those of state schools.

For example, take Harvard, which totals about $74k/year.

A family of 3 (2 parents, 1 child) with $160k/year gross income only ends up having to cover $25k/year. A similar family with $120k/year pays $13k/year. They have a net price calculator here [1] if you want to see what it would cost you.

[1] https://college.harvard.edu/financial-aid/net-price-calculat...

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

#344

Post by shsjxjbsbs »

war1025 wrote: post #239
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…

Private school tuition is the same as healthcare in the US. Everything has an enormous sticker price for anyone who asks, but no one is expected to actually pay that amount. And if you do pay that amount, it's just because you're a sucker who didn't get in on the fact that it's just a made up number. Rich kids may pay that amount, but it probably gets flipped around into some tax-advantaged "donation" that also helps…

I don’t believe it’s true that rich people are getting to write off college costs as a donation. They might be paying them out of a tax advantaged 529 account. The magnitude of this advantage is such that middle-class people probably care the most about it.

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

#345

Post by jazzyk »

kissickas wrote: post #339
Kalium wrote: post #205

Earlier quoted context omitted.

It's worth remembering that the US does not lack for excellent, public, shockingly expensive universities - California, Illinois, Michigan, Virginia, Minnesota, and North Carolina all readily spring to mind. We're not accepting uncritically that universities are private endeavors. We're accepting that some are and they should be allowed to continue to exist.

Did you mean shockingly inexpensive? UNC Chapel Hill (what I assume you mean by North Carolina) costs students from the state $8,834 USD. Out-of-state tuition is $33,916. I would not call either number "shockingly expensive." Michigan is $14,402 and $45,410. UVA is similar. Quite a bit more but still not anything shocking. Minnesota is similar but out-of-state tuition is just $23k.

Add ~$15K for room and board, though.

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

#346

Post by hansthehorse »

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…

My wife grew up in Montreal and paid a laughably small amount at McGill.

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

#347

Post by triceratops »

asdfman123 wrote: post #189
fortran77 wrote: post #83

Earlier quoted context omitted.

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 10…

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…

I agree with what you're saying in general. But hypothetically, if the forgiveness was made retroactive to say 10 years (or however long ago you paid your loans back) and you got all your money back, would your opinion change?

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

#348

Post by triceratops »

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…

Go to community college for a year in the state that you want to go to college to, become a resident, and also complete some pre-reqs for cheap in the meanwhile.

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

#349

Post by xeromal »

LMYahooTFY wrote: post #260
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…

>not free, universal college degrees for all - access is restricted behind rigorous entrance exams. 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 lo…

Not for community colleges and regular universities. If you want to go to a top-tier university, sure, but there is tons of room for everyone.

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

#350

Post by kitten_mittens_ »

elverado wrote: post #325
privateSFacct wrote: post #302

Earlier quoted context omitted.

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.

In the US simply pronouncing that word would get you into some schools.

English word clusters like “Weapons of Mass Destruction” are similar to German. The way they’re written is different though. It is ‘mashed together.’

Once you get used to picking out German morphemes, it’s not hard to make things out.

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