261–270 of 771 posts
It's because universities have no incentive to lower costs. The majority of students get loans, which transfer to the university and they don't really care if it gets paid back or not. The only way this will stop is if the universities are forced to take on the risk of the debt.
My claim is that buyers (parents+children) of college degrees are maybe not behaving rationally with respect to cost.
High-cost schools position themselves as offering a "better" outcome or opportunity to students. I'm really conflicted about this viewpoint. I have two children in high school with one a rising senior. So my family is discussing colleges and college costs somewhat regularly. We have visited a small number of state schools and a small number of smaller private universities and colleges. The smaller schools do a VERY good job of selling extra opportunities easily available to students. My experience is that opportunities can be found by a motivated college student at any institution but the small private schools seem to make it almost hard for a student to NOT be involved in meaningful outside-of-the-classroom options.
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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
Where does it say that? Btw private school looks quite affordable. I used to think my neighbor was rich, they were, but for only $20k/yr you can send 2 kids to private school? That is cheaper than daycare.
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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.
That's how things used to be. It means that only rich people can go to college, because they are the only ones who can afford it. Prices can only come down so far. The college still has to pay professors and maintain facilities. There needs to be a middle ground where we support poor but promising students in a way that doesn't inflate prices. I don't know what that solution is.
Accreditation Boards Textbook Publishers University Tuition It's a triangle scheme where one feeds the other and it's all fueled by non-dischargeable government loans. Student Loans are the hill to die on. As someone who isn't eligible for Military Service, I don't get supplemental housing, free healthcare, free college education, hiring preferences, small business loan preferences, nor a lifetime of "OH THANK YOU FO…
sir this is a wendys
The only service category that has outpaced higher education is hospital services. https://www.aei.org/carpe-diem/chart-of-the-day-or-century/
How cheap TVs are is unreal. I was looking at the display TVs at Target and the largest one was only about a grand, maybe a touch less. Ridiculous how big of a panel, complete with "smart" OS and etc, you can get for (Mind you, I know "largest" doesn't mean most expensive usually - indeed the most expensive TV was "only" 65" but was still Capitalism has certainly worked really well for this one specific consumer good…
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Related: https://www.aei.org/carpe-diem/chart-of-the-day-administrati... I always thought the issue was in admin body count. However, just picking the largest universities in Germany and US on wikipedia we see: Ludwig Maximilian University of Munich Academic staff: 5,565 Administrative staff: 8,208 Students: 51,606 Michigan State University Academic staff: 5,703 Administrative staff: 7,365 Students: 49,809 Those look…
Michigan state is a public university, which generally aren't as bad because their mission tend towards providing low cost education to residents. Stanford University, for example: Academic staff: 2,279; Administrative staff: 15,314, Students: 17,246 - that's basically 1:1 A less prestigious private university like University of Southern California: Academic staff: 4,706; Administrative staff: 16,614; Students: 49,31…
You have to really break down the administrative staff number (if that's what's of concern here) to see what people are doing to make an informed argument (not saying you are making an uninformed argument or anything like that).
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For a while I was in on the administrative staff thing and I certainly think there is bloat and just flat out incompetence at many universities in this area, but I also think it's a bit of a red herring to avoid other issues like funding reductions, etc.
You have to look at net price not sticker price. faulty analysis. better data here https://usafacts.org/articles/college-tuition-has-increased-...
You only get the net price after applying and submitting a FAFSA. The net price is only useful if you intend to go there. It's functionally useless for any other purpose. If the price says $100 then for most everyone it's $100.
"In 2000, 44.4% of all undergraduates received grant aid, whereas in 2016, that number increased to 63.1%."
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Again - the rules about student loans during bankruptcy apply to all student loans , including from private lenders.
That is not as clear cut as you make it. There have been rulings in the last several years that have allowed some private loans to be discharged in bankruptcy proceedings. > In January 2020, the U.S. Bankruptcy Court for the Southern District of New York discharged over $200,000 of student loan debt for one borrower. Then, in August 2020, a ruling by the 10th circuit federal appeals court based in Denver, Colorado el…
I think the way we calculate inflation is kinda weird.