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Students at public four-year institutions paid an average of $3,190 in tuition for the 1987-1988 school year, with prices adjusted to reflect 2017 dollars. Thirty years later, that average has risen to $9,970 for the 2017-2018 school year. That's a 213 percent increase.
However, to answer the question of created the rising costs, it was lower admission standards coupled with expansion of the federal Guaranteed Student Loan program, that drove up costs as the number of students increased.
Costs also rose because universities and colleges, in order to "compete," had to provide the technology to remain modern. The cost to wire universities with co-axial cable for computers was enormous. And then universities had to pay to rewire everything for ethernet cables, and then pay to rewire everything for Fire-Wire, and then pay to rewire everything with fiber optics (currently on-going).
i think we paid about 4500 for queens college for our kids in the late 1990's . today if you are within a certain middle class income it is free . prior to that it was about 11k recently .
i think we paid about 4500 for queens college for our kids in the late 1990's . today if you are within a certain middle class income it is free . prior to that it was about 11k recently .
The question is where can you go and how much can you make for that degree 10 years out.
$12,000 for Queens College degree in Biomed working at Huangzha Inc. making $45k a year - OR -
$45,000 for Cornell Biomed working at Eli Lily making $85k a year
I am not saying that it's impossible. But I do not see CUNY/SUNY grads often in middle management for Fortune 1000 companies. If they are, it takes them about 10 extra years to get there. It's all about quality of life, job security and how quickly you can retire. Sure, the debt is more, but if they pay it down in the first 5-10 working years then getting double the income for a top name school which got you into a higher income bracket earlier in your career will allow you to accelerate your financial goals.
I still remember when my state started paying more for prisons than for higher education. I found it ironic.
The answer to that is to have Congress enact a law that strips 2nd time felons of their citizenship.
Give them 180 days to be voluntarily deported to any country that accepts them, and if no country does, then involuntarily deport them by dumping them in Libya, Iraq, Somalia, Afghanistan, Myanmar and other countries.
All it would cost is $10, a brown-bag lunch, and a parachute per convict, and JP-4 fuel for a C-130 Hercules to deliver them to their new homes, and the $Billions saved can be spent on education.
Not only would incarceration costs be dramatically reduced, but costs for courts and law enforcement would also decline, and you could divert those savings to education as well.
I think a black swan event will occur in late 2018 or 2019 and US will get a recession in 2019 - 2020 but I could slightly off. It is always very hard to predict when the next recession will occur.
But how is it going to affect the world? Right now China is a very fragile situation, China was funding its high GDP growth with corporate debt. When growth and corporate debt started to slow down, then China started to fund its GDP growth with a housing boom just like the US did. In the last few years house prices has doubled and rents has only increased a little, which is a clear sign of a housing bubble. If China cannot keep up GDP growth or their property prices, then China is likely to go into a recession which will become a global black swan event. If this happens, global stock markets will crash, and so will spending and investments. That means house markets will crash all over the world, and in a few months we will have a global financial recession.
Trump will most likely respond with a huge bailout package, and the fed will print lots of money. EU and China will do the same and just like the EU in the previous recession we will get a dead cat bounce. The reason the dead cat bounce can't last is because US will have a massive deficit and will have to cut spending or increase taxes. I think Trump will delay that decision till Democrats take over, who will use the opportunity to increase taxes. Unemployment will be high and the recovery will be worse than after 2008.
In the EU the situation will initially look better than the US, so the Euro will get very strong. But around 2022 it will turn into a mess, because they didn't fix anything and debt is growing out of control in Spain, Portugal, Italy, France and Greece. They will need bailout packages just like last time, and EU will force them to cut spending and reduce salaries. People and corporations will default, and the EU central bank will have to rescue German banks. EU will most likely have a long and painful recession.
Even though China started the whole thing, I think China will be moderately impacted. The government has a lot of foreign assets and will use it to create new jobs and stabilize their currency. China will have much lower growth in the future, and potentially Xi Jinping may lose his job, but China will eventually get back on track.
I think a black swan event will occur in late 2018 or 2019 and US will get a recession in 2019 - 2020 but I could slightly off. It is always very hard to predict when the next recession will occur.
But how is it going to affect the world? Right now China is a very fragile situation, China was funding its high GDP growth with corporate debt. When growth and corporate debt started to slow down, then China started to fund its GDP growth with a housing boom just like the US did. In the last few years house prices has doubled and rents has only increased a little, which is a clear sign of a housing bubble. If China cannot keep up GDP growth or their property prices, then China is likely to go into a recession which will become a global black swan event. If this happens, global stock markets will crash, and so will spending and investments. That means house markets will crash all over the world, and in a few months we will have a global financial recession.
Trump will most likely respond with a huge bailout package, and the fed will print lots of money. EU and China will do the same and just like the EU in the previous recession we will get a dead cat bounce. The reason the dead cat bounce can't last is because US will have a massive deficit and will have to cut spending or increase taxes. I think Trump will delay that decision till Democrats take over, who will use the opportunity to increase taxes. Unemployment will be high and the recovery will be worse than after 2008.
In the EU the situation will initially look better than the US, so the Euro will get very strong. But around 2022 it will turn into a mess, because they didn't fix anything and debt is growing out of control in Spain, Portugal, Italy, France and Greece. They will need bailout packages just like last time, and EU will force them to cut spending and reduce salaries. People and corporations will default, and the EU central bank will have to rescue German banks. EU will most likely have a long and painful recession.
Even though China started the whole thing, I think China will be moderately impacted. The government has a lot of foreign assets and will use it to create new jobs and stabilize their currency. China will have much lower growth in the future, and potentially Xi Jinping may lose his job, but China will eventually get back on track.
This is just my prediction, I could be wrong.
So what does this mean for interest rates tied to housing, going up or going down? I know they are going up now...
Yup, just a prediction. You told a long story about the outcome of your prediction but did not supply any facts, theories or ideas to support the prediction. I might as well predict a tidal wave wiping out Hilo.
Yeah. Thanks to Trump's policies, the coming recession, which I predict will arrive in late 2018 or 2019, will be much, much worse than it otherwise would need to be. I think we'll possibly be looking at something as bad as 2008-09 or worse.
The answer to that is to have Congress enact a law that strips 2nd time felons of their citizenship.
Give them 180 days to be voluntarily deported to any country that accepts them, and if no country does, then involuntarily deport them by dumping them in Libya, Iraq, Somalia, Afghanistan, Myanmar and other countries.
All it would cost is $10, a brown-bag lunch, and a parachute per convict, and JP-4 fuel for a C-130 Hercules to deliver them to their new homes, and the $Billions saved can be spent on education.
Not only would incarceration costs be dramatically reduced, but costs for courts and law enforcement would also decline, and you could divert those savings to education as well.
Can you imagine the howling of the prison guard's union?
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