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I used to study in a big public university in the midwest.
I was a graduate student but I know the tuition and fees for an in-state undergraduate student was less than 9,000 per year. And this is the best public university in that state.
The median household income there is about $50,000. Even after tax, there should be about $30,000~40,000. So the annual tuition is really just like 3 months' income.
Any family with one or two fully employed adults should be able to afford it. Those who cannot should ask themselves why. Maybe you should downgrade your vehicle, or move to a smaller apartment/house, or stop buying useless items.
I used to study in a big public university in the midwest.
I was a graduate student but I know the tuition and fees for an in-state undergraduate student was less than 9,000 per year. And this is the best public university in that state.
The median household income there is about $50,000. Even after tax, there should be about $30,000~40,000. So the annual tuition is really just like 3 months' income.
Any family with one or two fully employed adults should be able to afford it. Those who cannot should ask themselves why. Maybe you should downgrade your vehicle, or move to a smaller apartment/house, or stop buying useless items.
That's a nice anecdote of one school back when you went to it.
But if you actually look at statistics, you will find that school costs have risen dramatically - much faster than inflation. The only other thing moving so fast in terms of price is healthcare. Many schools really are moving into amazingly expensive territory - even public ones.
That's a nice anecdote of one school back when you went to it.
But if you actually look at statistics, you will find that school costs have risen dramatically - much faster than inflation. The only other thing moving so fast in terms of price is healthcare. Many schools really are moving into amazingly expensive territory - even public ones.
No, the tuition data I cited is current. That does not include living costs though.
Healthcare is another issue. In the US, healthcare is outrageously expensive. I used to see a doctor and talked to her for 5 minutes, and received a $200 bill. American people should push the government to change that. If a system is wrong, the people have to arise.
And cost of living is probably at least $9k/yr as well... so people making $50k/yr can easily come up with $18k/yr?
Don't count on the student being able to work mych through school. For one thing, a lot of those "college student" jobs are gone or are taken by people working to support a family due to the current economy. And with the job market as competitive as it is, students really need to be spending their summers doing internships in their field, not flipping burgers or whatever.
I used to study in a big public university in the midwest.
I was a graduate student but I know the tuition and fees for an in-state undergraduate student was less than 9,000 per year. And this is the best public university in that state.
The median household income there is about $50,000. Even after tax, there should be about $30,000~40,000. So the annual tuition is really just like 3 months' income.
Any family with one or two fully employed adults should be able to afford it. Those who cannot should ask themselves why. Maybe you should downgrade your vehicle, or move to a smaller apartment/house, or stop buying useless items.
I hope you didn't pay too much for your education, because your critical thinking skills are quite poor, as is your understanding of household economics.
1 - 9K is super cheap for today. Only state unis are in that range - ours is 10K and it's very competitive.
2 - You left out room and board - often the biggest expense. At our state uni it STARTS at 10K for the cheapest package. That includes only housing and three meals a day in a cafeteria.
3 - Add another 2K for books and misc fees.
Now your total for the cheapest uni around is over 20K, and it doesn't include all of a student's living expenses (i.e. if they need a car, insurance, medical expenses, etc.).
I don't have an extra 20K (for 4 years running), and we make over 100K. But we have a mortgage, other debts and expenses, and so on, like everyone else. We could probably manage it by working more and downsizing the house, but it would still be difficult. For someone making only 50K it would be quite impossible. And some people have more than one child in school. Then what?
Finally, it all goes out the window if you can't go to a state uni. Private schools are running closer to 40-50K in tuition alone.
I used to study in a big public university in the midwest.
I was a graduate student but I know the tuition and fees for an in-state undergraduate student was less than 9,000 per year. And this is the best public university in that state.
The median household income there is about $50,000. Even after tax, there should be about $30,000~40,000. So the annual tuition is really just like 3 months' income.
Any family with one or two fully employed adults should be able to afford it. Those who cannot should ask themselves why. Maybe you should downgrade your vehicle, or move to a smaller apartment/house, or stop buying useless items.
I'd love to live in your tax state if that is all you are paying...
At 50,000, take out taxes, social security, health insurance, 401K contributions and you are lucky to be bringing home $25,000. Tuition only at our public U is $14,000. That would leave $11,000/year to live off. For a family of 4, say in a cheep 2 bedroom apartment in that same area, you come up about $1000/year short of paying rent....nevermind food, utilities, etc. Even at your $9000/year for tuition only, that still isn't enough to pay basic expenses like rent, food, utilities, clothing--let alone getting back and forth to this school for this student. You obviously are not an adult supporting a family.....
To the OP: Not trying to be rude or impolite but you need to check your math and analytical presumptions. Its surprising that an individual involved at any level of post secondary education could make such a questionable statement.
"Bettafish:...should be able to afford it. Those who cannot should ask themselves why. Maybe you should downgrade your vehicle, or move to a smaller apartment/house, or stop buying useless items."
I suggest you create a model budget of a proxy $50K gross income family with two children (make it easy, only one in college) in the state referenced.
Use the actual, full costs of attendance at the state university you reference. Include local/state/Federal taxes, SS, HI proxy costs, commuting (both the family's and the student), utilities, vehicles, insurances, food, clothing, shelter, etc., etc., etc. - such typical daily living expense proxies are readily available for any area in the US.
Then get back to us.
Last edited by Pilgrim21784; 01-20-2013 at 11:16 AM..
I suggest you create a model budget of a proxy $50K gross income family with two children (make it easy, only one in college) in the state referenced.
Let me tell you something. The US has the LOWEST savings rate IN THE WORLD, only 4%! Does that tell you something automatically?
China has the highest savings rate among major countries, with 30% of income saved.
Suppose a family with $30,000 income (after tax) can save 30%, that is $9,000 per year!
Of course the economy and culture are different, but I am just saying Americans are outliers, not the norm in the world.
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