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

hechingerreport.org

331–340 of 563 posts

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

#331

What I find funny in these discussions on HN is how most people seem to be completely oblivious to the obvious solution, proven to work in many developed countries around the world: have the state directly fund universities and don't charge tuition to students (or charge them a small amount). Why is the assumption "universities are private endeavours that should make a profit" something that goes unchallenged on HN?

> have the state directly fund universities and don't charge tuition to students That's how you end up with "Education" being the first cost element of the French budget (about 72 billions EUR per year) despite pretty poor academic results (that can be easily observed in the ever-decreasing level of the national exams). When government manages everything in one field, that field becomes mismanaged (trains: SNCF alway…

I see your point and it can be true, in particular when the state is officially controlled by a single party, and/or in societies with systematic corruption.

And while your examples are also true, I would argue that it's actually normal for rail and post to be in the red. This is because their primary purpose is not to generate revenue for the state, but to provide a service to taxpayers. For example, unprofitable train routes have to be kept because they link remote areas to cities.

In fact, when private industry handles these type of public services, users tend to have poorer service and higher costs, because there is a natural monopoly.

For train service, take a look at the UK, where different companies "compete": service is worse than France at a higher cost.

La Poste has been a publicly traded company for about 10 years if memory serves. Service has been getting worse ever since.

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

#332

Earlier quoted context omitted.

"wildly overrated"

Sorry, you can't have it both ways. If it's not worth it because the universities are overrated then people won't go. The problem will solve itself.

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

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

#333

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…

Very true. And what works in Europe will not work for the US because 1. No kids should be left behind, so let's dumb down the test. 2. Kids should have stress-free life and academia is for boring people, so let's dumb dow the curriculum. 3. Math is racism. STEM for sure is racism. As Seattle educator put it, why don't we teach kids aboriginal math, and tests are surely racism. So, let's get rid of entrance exam and p…

u mad bro?

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

#334

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…

I got in to University of Chicago, but the finances were rough. They expected my parents to pay around 30% of their (combined) income in tuition after scholarships and loans. Presumably this would have dropped when my brother entered college a year after me, but given that I got into other schools that cost less than half as much it wasn't really a question.

My parents didn't really know what to tell me because on one hand they felt like they were being punished for not making profligate decisions like going into debt for a fancy car or buying a bigger house, but on they other hand they didn't really want to outright tell me not to go somewhere like U of Chicago.

Made me feel like college admissions spiels saying not to worry about finances were a lip-service scam designed to make college look accessible while mostly benefiting the rich and very poor and screwing those in-between.

Went to a state university instead, but never really fit in there. Too much alcohol, greek life, and sports.

In any case, I don't mean to imply that my parents didn't have a decent income, just that the way things worked made them feel like they were being punished for trying to be financially responsible, and being asked to pay the equivalent of a 2nd mortgage for your kid's college only for them to be in debt on top of it anyway, and not knowing how things would work once they had a 2nd kid in college wasn't a strong sell. Even though they didn't say not to go there, I would have felt super super guilty about saying yes.

Fun fact: the scholarship U of Chicago offered would have covered the cost of attendance at each other college I got into and then some, but still didn't cover even half of the cost of attendance there.

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

#335
post #323

Earlier quoted context omitted.

I can only speak for the Netherlands, we have a tiered high school system, and you can enter most university programs with just a high school diploma of the highest tier.

That's known as "tracking" in the States and has a history of racial discrimination. There's little chance it will be implemented in the states.

are you talking about diploma pathways: "advanced"/"standard" diplomas and things of that nature? because that's the norm in several states.

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

#337
post #290
post #270

Earlier quoted context omitted.

> Even the amortization schedule is weighted to benefit the banks. Can you explain this or say what the alternative amortization schedule might be? In a normal mortgage, the initial payments are more interest because you're paying interest on more principal.

You got it already! Imagine if most of that first payment went to the buyer's equity instead of interest.

You're always free to make additional equity payments. Modern mortgages don't have prepayment penalties.

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

#338
post #267

Earlier quoted context omitted.

Which major religion other than Islam forbids it?

It's been some time since my Bible studies but isn't there something in the Old Testament against loans / lending money with interest?

No. It says the borrower is a slave to the lender and to be aware. But it is not against the Church.

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

#339
post #205

What I find funny in these discussions on HN is how most people seem to be completely oblivious to the obvious solution, proven to work in many developed countries around the world: have the state directly fund universities and don't charge tuition to students (or charge them a small amount). Why is the assumption "universities are private endeavours that should make a profit" something that goes unchallenged on HN?

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.

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

#340

How to fix student loans... The .gov backs student loans. And, they are non-dischargeable. So, it is zero risk for the lender to give loan to the 2.7 GPA moron getting a worthless basket weaving degree from the local private lib arts school for $100k. So, they give as many loans as possible, since they can't lose (taxpayer on the hook). Colleges are incentivized to drive up costs of tuition b/c tons of free money. It…

Loans should not be guaranteed by the government. Banks should be able to tell shitheads no.
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