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TANSTAAFL applies in all cases in life and another cliche that if it seems too good to be true........... The fact is the unintended consequence of liberals wanting to "help" you ends up hurting you most of the time. By making "free" money available so easily they drove the price thru the roof, there is no exemption to this market force. Since great deals of money were made available the price had to inflate and strangely enough the amount one will make by getting the degree never factored into the equation and many default on their loans. When I was younger if you worked hard all summer and saved every penny you could pay for your school with a little help from your parents and even people of modest means could afford it. No so these days and so many really can't figure it out. Wonder where they went to college? had to be a place where common sense was frowned upon and pies fell from the skies.
The reality is only the wealthy can truly afford college, regardless of public or private. Universities don't care about tuition rates as they know most students will just take out loans and be left holding the bag come graduation. Students really need to scrutinize and understand the future financial impact of what they are getting into when making the decision to attend college. That is a lot to ask of an 18 year old fresh out of high school when the norm has always been to just "go to college". Given the outrageous tuition rates, the norm needs to be re-evaluated.
More administrators and retired professors with offices and staff = higher tuition.
"Schwab wanted to minimize debt, so he got a job. He works 40 hours a week while taking a full course load." XXXXXXX Bravo for this young man! No one wants to pay for tution anymore by getting a job. Most people want the taxpayer to pick up the tab, period. Well, taxpayers have to live too while making house and car payments and attempting to save for retirement.
Universities need to get thier expenses under control so they don't have to keep raising tuition.
Get a part time job!
As is so often the case, it's the law of unintended consequences at work. The fact that the cost of a college education and degree (including at the U) has vastly outpaced the overall inflation rate is not in the least bit surprising. There is simply way too much money - bolstered in no small part to well-meaning government-aided grant and loan support - chasing the available sources of that education. Small wonder why the costs keep going up, far surpassing the overall inflation rate,
When tuition almost triples in twelve years what else do they expect? It costs a resident $13,000 now to go to the U. In the 2000-01 school year it cost $4,400. The U needs to learn to CUT costs over raising tuition by 5-10% every year. Also, instead of arguing about student loan interest rates, our politicians needs to start addressing the actual cost of higher education. Currently they are addressing the symptoms, not the root cause. If I have a hole in my gas tank, I don't keep filling it up with gas to try to solve the problem (decreasing interest rates), I fix the hole in the gas tank (actually lower college costs).
whatzit -- What you described is so true! I still remember the days when I attended the University of Minnesota. Even though my parents were barely making it -- with Three children attending the U of M at the same time -- NONE of us kids qualified for any Financial Aid. Not even Federal Student Loans. Back then, our family was considered "Too Rich" to be helped. After we were treated like "Dirt" by the Financial Aid office, and told that we shouldn't bother applying again, we just didn't. Today, none of us feel any sympathy for the U of M, even though were proud Alumni. Maybe the school needs to STOP constructing so many Expensive, but Useless, Buildings, Stadiums, etc. And even if we did give more money to the U of M, it would probably only go towards funding another useless contruction project. Maybe help INCREASE the Tuition Costs at the U of M even more. Uh, Oh! That is what happened after all of us had graduated, and Federal Student Loans became widely available. In hindsight, our years at the U of M were a big family financial struggle, but at least none of us kids graduated with any debt.
Great post whatzit
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