New medical school to cost taxpayers $4,100,000,000 (San Antonio, Austin: low income, student loan, school tuition)

[scm53]

I have hopes, at some point, that the taxpayers of Austin, Travis and Williamson counties will get their fill of politicians building their legacies with our checkbooks.

UT medical school $4.1 billion price tag could bring tax increase

[hoffdano]

That is astounding. But not surprising. Kirk Watson's stimulus program will cost us all a huge amount of money.

[Bo]

Have you priced medical school tuition lately? They'll make the money back faster than you think.

[Trainwreck20]

lol

[hoffdano]

Originally Posted by Bo

Have you priced medical school tuition lately? They'll make the money back faster than you think.

How good is your math?

The UT Health Science center in San Antonio has enrollment of about 900 students.

If 900 students pay $20,000 per year (higher than what their website says), that is $18,000,000 paid per year in total in tuition and fees. If I divide $4,100,000,000 by $18,000,000 I get a payback in 227.77 years. Very simple math. In my way of thinking that is sloooooow.

http://studentservices.uthscsa.edu/pdf/SOM.pdf

[Bo]

Originally Posted by hoffdano

How good is your math?

The UT Health Science center in San Antonio has enrollment of about 900 students.

If 900 students pay $20,000 per year (higher than what their website says), that is $18,000,000 paid per year in total in tuition and fees. If I divide $4,100,000,000 by $18,000,000 I get a payback in 227.77 years. Very simple math. In my way of thinking that is sloooooow.

http://studentservices.uthscsa.edu/pdf/SOM.pdf

Really? Based on the student loan debt I've heard of young doctors carrying, I figured tuition was more like $80,000+ per year.

[Westerner92]

If you read the article, it says itself that the taxpayers of Travis County are contributing $420 million. That's no small chunk of change by any means, but considering that Austin is one of the largest cities without a medical school in the nation, it might just be worth it. I know tons of UT students that want to stay and practice in Austin, but the lack of a school here is preventing that.

Austin has a history of many of its industries and companies being started by students and graduates of local institutions staying here for the quality of life. I'm failing to see how a medical school is a bad investment.

[OpenD]

Coupla things y'all seem to have missed...

First, the Billions with a B cost isn't all going on the Austin tab. It's Millions with an M that the city is on the hook for, and it's allocated to low income health care, because like most teaching schools, the patients that students "practice" on are predominantly low income.

Second, labelling this project as merely an effort to get names on buildings is simplistic and absurd. Clearly this project has enormous long term value for the community.

[austin-steve]

Well, before I could even start a conversation about this I would want to know:

1) What is the economic impact, both in real direct dollars and in indirect economic benefits of having what would surely be a top rate medical school?

2) Is it costing us anything in lost economic impact/benefits to not have a medical school?

3) How are these things measured and validated?

Without knowing much about it, my sense is it would be a net plus for Austin. But I don't know the numbers.

On the dowside, the city of Austin has a unique talent for achieving negative return on "investments" into tax incentives to lure companies to Austin. (i.e. the most recent Apple deal). A Statesman article recently layed out how Austin's growth is basically paid for mostly by those of us already here while benefiting mostly the newcomers and the sprawl that supports them.

Steve

[TexasHorseLady]

Originally Posted by austin-steve

Well, before I could even start a conversation about this I would want to know:

1) What is the economic impact, both in real direct dollars and in indirect economic benefits of having what would surely be a top rate medical school?

2) Is is costing us anything in lost economic impact/benefits to not have a medical school?

3) How are these things measured and validated?

Without knowing much about it, my sense is it would be a net plus for Austin. But I don't know the numbers.

On the dowside, the city of Austin has a unique talent for achieving negative return on "investments" into tax incentives to lure companies to Austin. (i.e. the most recent Apple deal). A Statesman article recently layed out how Austin's growth is basically paid for mostly by those of us already here while benefiting mostly the newcomers and the sprawl that supports them.

Steve

Tried to rep you, guess I liked something else you wrote too recently, Steve.

Especially that last part. Oh, you think? They're just figuring that out NOW?