Dear Class of ’13: You’ve been scammed
marketwatch.com
Dear Class of ’13: You’ve been scammed
1–10 of 88 posts
Re: Dear Class of ’13: You’ve been scammed
#2Australia is similar in the regard, except the Federal government covers part of the full course cost, the rest being covered by a CPI indexed loan (HECS) which needs to be paid back once employment income exceeds $38k per year (taken from tax refunds -- we have tax deducted every payday).
That said, a typical university student will accumulate $9000 a year of HECS debt.
And yet Universities continue to cry poor, cutting student services and teaching staff, despite increased revenues from full fee paying international students over the past decade.
I'm perplexed as to why this is.
Edit: Just found this: http://www.nteu.org.au/library/view/id/3828 -- RMIT University spent $8.2 million on 19 "senior executive and council members". That's ~$431k a head, or according to the Union "125 HEW 6 academic staff."
Re: Dear Class of ’13: You’ve been scammed
#3As the parent of a college freshman, let me say that this is one significant reason we've relocated to Budapest. (Not that this would be a help to most, as our daughter is bilingual in Hungarian.)
Re: Dear Class of ’13: You’ve been scammed
#4You won't get that free education at Cambridge any more; it'll set you back £9000 in tuition fees every year, because successive British governments deliberately copied the US system.
It is to weep ...
Re: Dear Class of ’13: You’ve been scammed
#5As the parent of a college freshman, let me say that this is one significant reason we've relocated to Budapest. (Not that this would be a help to most, as our daughter is bilingual in Hungarian.)
+1 Budapest. Beautiful, underrated city.
When I was there, I did some of the best creative work of my life.
Re: Dear Class of ’13: You’ve been scammed
#6Australia is similar in the regard, except the Federal government covers part of the full course cost, the rest being covered by a CPI indexed loan (HECS) which needs to be paid back once employment income exceeds $38k per year (taken from tax refunds -- we have tax deducted every payday). That said, a typical university student will accumulate $9000 a year of HECS debt. And yet Universities continue to cry poor, cut…
http://deltacostproject.org/resources/pdf/trends_in_spending...
Page 24:
> In all institutional groupings—public and private—tuition prices increased faster than education and general spending per student. This suggests that both public and private institutions are becoming more dependent on tuition as a source of general revenue—not just to pay for education and related expenses, but as a general subsidy for all functions, including research and service.
Page 33:
> The primary cause of tuition increases in public institutions is not increased spending, but rather cost shifting to replace losses in state appropriations and other revenues.
What would you rather have?
1) Low tuition subsidized by higher taxes when you're working
2) higher tuition but lower taxes later on
The market seems to have chosen (2). Whether or not taxes are actually lower is another question.
Personally, I think it's horrible to graduate with 80K+ in debt. To put it into perspective, my parents graduated with minimal debt. Their first debt was the purchase of a house, for about the same amount as student loans are now.
What would you rather have on graduation? Student debt, or no student debt and a house?
Re: Dear Class of ’13: You’ve been scammed
#7You won't get that free education at Cambridge any more; it'll set you back £9000 in tuition fees every year, because successive British governments deliberately copied the US system. It is to weep ...
Luckily, we still have the best universities in the world and despite the headline figure, what you actually pay is dependent on your earnings, so it's still well worth going. However, choose your university carefully. I was lucky,I went to Warwick and did well. Don't be taken in by the all degrees are equivalent rubbish.
Re: Dear Class of ’13: You’ve been scammed
#8Just look at the bright side, we are using that money to pay $40k - $50k a year for prisoners.
Re: Dear Class of ’13: You’ve been scammed
#9I get that paying for your education is pretty bad, but as someone who is enjoying free bachelor level education in Finland I can tell that the amount of quality teachers is pretty low, our small campus has maybe 4 teachers I'd consider competent.
I'm also the kind of guy who'd enjoy extracurricular clubs, but sadly out of the few hundred students at our campus total of 3 of us (me included) are interested in club activities and only student body event that gets more than 10 people attending is yearly "drinking cruise".
I can't say for sure that these two things are related, but I have a hunch that since people aren't actually paying for their education most don't take it as seriously and thus people just do the bare minimum they can get away with. Or maybe it's just the general level of education which is so much lower nothing feels "real" at least considering how much I read U.S. based engineering students whine about...
Re: Dear Class of ’13: You’ve been scammed
#10You won't get that free education at Cambridge any more; it'll set you back £9000 in tuition fees every year, because successive British governments deliberately copied the US system. It is to weep ...
Although to be fair it's different depending on where you go in the UK. Scottish degrees are distinctly more subsidised, and the situation in Wales is unlike England and Northern Ireland.