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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

#431

Post by jackcosgrove »

rhino369 wrote: post #116
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…

Student debt isn't likely to cause a 2008 crisis since the vast majority of it is held by (or backed by) the government.

Also student loans cannot be discharged in bankruptcy, so there will not be a dramatic crisis triggering writedowns. The digestion of bad loans will take decades.

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

#432

Post by dragonwriter »

jackcosgrove wrote: post #431
rhino369 wrote: post #116

Earlier quoted context omitted.

Student debt isn't likely to cause a 2008 crisis since the vast majority of it is held by (or backed by) the government.

Also student loans cannot be discharged in bankruptcy, so there will not be a dramatic crisis triggering writedowns. The digestion of bad loans will take decades.

> Also student loans cannot be discharged in bankruptcy

Yes, they can, though it's harder than other unsecured debt.

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

#433

Post by garmaine »

dragonwriter wrote: post #404
garmaine wrote: post #117

Earlier quoted context omitted.

Financial aid is code for student loans. If they meant a scholarship they would have said so.

> Financial aid is code for student loans. No, especially at well-funded not-for-profit private universities, “financial aid” often includes generous need-based grants (not scholarships, which are merit-based) that reduce the amount that must be met from student/family resources (including loans) substantially for non-wealthy students (not unheard of for it to be down to $0 for the poorest who manage to get admitted,…

Not at the Jesuit college I went to, which I’m still pretty bitter about. I got cheated out of grants because I qualified for “financial aid”—loans which I am still paying off.

I guess it depends on the school.

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

#434

Post by jefftk »

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…

> the very same institutions that are generally very left leaning, decry income inequality, ...

These schools are price discriminating, which means only the richest families are paying the full price. This kind of heavily graduated pricing where the wealthy pay for most of the cost of the school is very much in line with their principles.

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

#435

Post by jackcosgrove »

dragonwriter wrote: post #432
jackcosgrove wrote: post #431

Earlier quoted context omitted.

Also student loans cannot be discharged in bankruptcy, so there will not be a dramatic crisis triggering writedowns. The digestion of bad loans will take decades.

> Also student loans cannot be discharged in bankruptcy Yes, they can, though it's harder than other unsecured debt.

It's such a rare event that it wouldn't happen at the scale to trigger a financial crisis.

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

#436

Post by wolco »

Consultant32452 wrote: post #427
wolco wrote: post #332

Earlier quoted context omitted.

Will it? Those who make it through will continue the narrative because lettings others know will reduce the value of their degree.

Why do you care what the narrative is? If you produce something of value the market will reward you.

Because I'm the next person about to decided where to go/what to do. The narrative informs my choice. If the narrative is false then the market is basing decisions on incorrect information producing unrelated results but will never be aware to self-correct.

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

#437

Post by popularwarfare »

holografix wrote: post #429
WhompingWindows wrote: post #77

UChicago 2011 graduate here. When I attended, I paid about $20k/year in tuition, given that I had various merit scholarships, worked for the university, and that my siblings also attended school. My parents were in for a RUDE awakening in my fourth year, however, when my brother graduated his undergraduate program...UChicago found out via a survey, that I was now the sole college attendee, and without warning they ja…

No, you guys need to quit the platitudes. You need to do something about your “fixed” meritocratic society where your future is largely determined by your parents’ wealth. You need tax reform, healthcare, cheaper education. I had a discussion with an American friend recently, he offered that the American society has produced marvels such as Google and Facebook and Tesla and countless others, fair point. Can you imagi…

Americais and always has been fantastic place if you're part of the upper 20% and dog shit for everyone else. We just have great propaganda.

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

#438

Post by xupybd »

holografix wrote: post #429
WhompingWindows wrote: post #77

UChicago 2011 graduate here. When I attended, I paid about $20k/year in tuition, given that I had various merit scholarships, worked for the university, and that my siblings also attended school. My parents were in for a RUDE awakening in my fourth year, however, when my brother graduated his undergraduate program...UChicago found out via a survey, that I was now the sole college attendee, and without warning they ja…

No, you guys need to quit the platitudes. You need to do something about your “fixed” meritocratic society where your future is largely determined by your parents’ wealth. You need tax reform, healthcare, cheaper education. I had a discussion with an American friend recently, he offered that the American society has produced marvels such as Google and Facebook and Tesla and countless others, fair point. Can you imagi…

Non American here. They seem to be the greatest country on earth. They have a big problem with the gap between the rich and the poor but have huge upward mobility.

The education system is too expensive and a bit of a scam but does that cause the problems people think it does. Can you make it in the US without a degree?

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

#439

Post by lonelappde »

WhompingWindows wrote: post #77

UChicago 2011 graduate here. When I attended, I paid about $20k/year in tuition, given that I had various merit scholarships, worked for the university, and that my siblings also attended school. My parents were in for a RUDE awakening in my fourth year, however, when my brother graduated his undergraduate program...UChicago found out via a survey, that I was now the sole college attendee, and without warning they ja…

Did your parents not know that your sibling would graduate college before you did. Strange thing to be livid about.

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

#440

Post by popularwarfare »

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…

In theory. Do you have evidence that is what is actually happening?
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