Tuition costs have risen 710% since 1983 • Hacker News Board

Re: Tuition costs have risen 710% since 1983

#101

Post by tempsy » Mon, Jul 10, 2023, 5:39 PM UTC

taeric wrote: post #90

tempsy wrote: post #45

Earlier quoted context omitted.

Eh I think the impact of the federal government on undergraduate costs is largely overstated. The limits for dependent students, which is most undergrads, is really small over 4 years. https://studentaid.gov/understand-aid/types/loans/subsidized... You can only borrow $31k over 4 years. That isn't a lot at all.

Wait, what? That is a misleading read of that page. Only if you have parents/guardians that can get a PLUS loan is that the limit. You have to look at the other column for everyone else. And that is the principal. With a short limit on how much of that can be subsidized, meaning the rest is accruing interest from day 1. Such that they amount you would owe will be laughably higher than even that number after your scho…

how is it misleading? most undergrads are considered dependent, which means they can only borrow $31k in total over 4 years. beyond that they would need to tap alternative sources.

Re: Tuition costs have risen 710% since 1983

#102

Post by mola » Mon, Jul 10, 2023, 5:40 PM UTC

eschulz wrote: post #10

Makes sense when you have student loans backed by the federal government. If an 18 year old with no money and no credit history gets accepted into a qualifying university, she will be able to receive a loan since the bank knows that the government will protect their investment if she fails to pay them back. So now young people have this easy access to credit, and universities can greatly increase tuition and fees wit…

More likely cause is the mentality that says universities are a for profit institutions That should squeeze as much as possible. Instead of "socialist" subsudised school, you give loans...

Re: Tuition costs have risen 710% since 1983

#103

Post by dpierce9 » Mon, Jul 10, 2023, 5:40 PM UTC

stri8ed wrote: post #96

dpierce9 wrote: post #50

Earlier quoted context omitted.

I will say it again: Private high school costs have also gone up astronomically and there are no federal loans for them. [0] https://educationdata.org/average-cost-of-private-school

What is the rate of increase, and how does it compare to CPI inflation?

There is a chart at the bottom. Costs doubled over twenty years since 1999, directly comparable to the college rate over the same period and well above inflation.

Re: Tuition costs have risen 710% since 1983

#104

Post by fnord77 » Mon, Jul 10, 2023, 5:40 PM UTC

students per administrator has gone down down down

https://scaleatucla.weebly.com/uploads/2/9/9/2/29923337/4935...

stanford has more administrators than undergrads now.

administrator growth is like a cancer

Re: Tuition costs have risen 710% since 1983

#105

Post by Workaccount2 » Mon, Jul 10, 2023, 5:40 PM UTC

Eumenes wrote: post #53

Can we talk about the inflation related to the value of the degree as well? A college degree in 1983 is worth alot more than one in 2023.

This is something that always bothers me. People have completely lost sight of the forest for the trees.

The entire point of an education is to make you a good worker/citizen. That's it. People completely lose sight of this and think that the point of an education is to get a degree.

Therefore we end up with legions of kids trying to "get a degree" as opposed to "become a good worker/citizen".

Re: Tuition costs have risen 710% since 1983

#106

Post by DesiLurker » Mon, Jul 10, 2023, 5:40 PM UTC

treeman79 wrote: post #46

basisword wrote: post #26

Earlier quoted context omitted.

If only governments could make…laws to restrict the price of University. Or…could limit the maximum loan size thus encouraging Universities to not charge more than that.

Proper solution is government to stop guaranteeing the loans and to allow people to put them in bankruptcy. Prices will collapse to what people are willing to pay in real time, or save up for.

Right, let the market decide interest rate charged for them based on risk of default. this will also quickly filter out pointless degrees without much carrier prospect because interest rate would be high. right now basically govt has created a fully protected predatory loan that can follow you to your grave. IDK why is this so hard to understand.

Re: Tuition costs have risen 710% since 1983

#107

Post by jasonlotito » Mon, Jul 10, 2023, 5:40 PM UTC

Remove loans and make colleges and public universities free again. It worked before and worked quite well. All comes back to the failings of Reagan once again.

Re: Tuition costs have risen 710% since 1983

#108

Post by wdb » Mon, Jul 10, 2023, 5:40 PM UTC

taeric wrote: post #24

eschulz wrote: post #10

Makes sense when you have student loans backed by the federal government. If an 18 year old with no money and no credit history gets accepted into a qualifying university, she will be able to receive a loan since the bank knows that the government will protect their investment if she fails to pay them back. So now young people have this easy access to credit, and universities can greatly increase tuition and fees wit…

Worse than just "backed by the federal government," the loans are basically protected by the government. Being one of the small list of things you can't bankrupt out of, the risk in giving out the loans has been fully pulled from the lenders. It is frustrating to hear the discourse over the inappropriate students that are taking on too much debt, all the while ignoring the lenders that are taking on too much risk. At…

Aren’t they government issued loans? That’s how it worked over here

Re: Tuition costs have risen 710% since 1983

#109

Post by kristopolous » Mon, Jul 10, 2023, 5:41 PM UTC

dpierce9 wrote: post #50

londons_explore wrote: post #3

Main cause: Government-backed student loans. While it is technically the student paying, in reality the money is going (indirectly) from the federal reserve to the universities. Everyone loves free government money... The fact the student may never pay off those loans (and hence the government foots the bill) is the cherry on top.

I will say it again: Private high school costs have also gone up astronomically and there are no federal loans for them. [0] https://educationdata.org/average-cost-of-private-school

[flagged]

Re: Tuition costs have risen 710% since 1983

#110

Post by tempsy » Mon, Jul 10, 2023, 5:41 PM UTC

FireBeyond wrote: post #83

tempsy wrote: post #45

Earlier quoted context omitted.

Eh I think the impact of the federal government on undergraduate costs is largely overstated. The limits for dependent students, which is most undergrads, is really small over 4 years. https://studentaid.gov/understand-aid/types/loans/subsidized... You can only borrow $31k over 4 years. That isn't a lot at all.

This for federal loans. But the government has "protected" all loans - private education loans are also unable to be discharged by bankruptcy, for example.

yeah, and we're talking about federal loans here.

the government is not on the hook if a student defaults on a private loan. the critique was that tax payers were somehow on the hook for most undergraduate costs when $31k over 4 years barely pays for rent at this point.