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Old 07-04-2013, 09:22 AM
 
505 posts, read 765,015 times
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Quote:
Originally Posted by NJBest View Post
I don't know if it's worth it to you. It was worth it to me. 100 years ago, college was more expensive and there were no federal loans.
Where do you get that college was more expensive 100 years ago?

It was certainly much less expensive 10, 20, 40, 50 years ago...
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Old 07-04-2013, 10:27 AM
 
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All this talk about "charging the market rate for loans" and only lending to students with "valuable" degrees misses the point about tuition rates. The US has the highest average tuition rate out of any developed country in the world at around $14000. In Canada, the average rate is around $5000-6000. In other countries it's even less. I personally don't see why anyone would take pride in paying more for their education than they need to when it could be a whole lot less expensive and then stigmatize students for having to borrow to afford their education. Whether someone studies history or engineering, college is one of the best investments one can make.


Source: Authors’ calculations of internal rate of return, values adjusted for inflation using C.P.I.-U; March Current Population Survey 2007-10 averages; National Mining Association; National Center for Education Statistics; Robert Shiller online data; Federal Reserve Bank of St. Louis.

On this 4th, instead of celebrating how great this country is, I think we should be celebrating the potential to make this country even greater. The former indicates we've peaked and have no room for improvement while the latter does not because we're not the best in everything and we shouldn't pretend like we are when we can learn from other countries.
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Old 07-04-2013, 10:41 AM
 
5,500 posts, read 10,518,529 times
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Quote:
Originally Posted by Octa View Post
All this talk about "charging the market rate for loans" and only lending to students with "valuable" degrees misses the point about tuition rates. The US has the highest average tuition rate out of any developed country in the world at around $14000. In Canada, the average rate is around $5000-6000. In other countries it's even less. I personally don't see why anyone would take pride in paying more for their education than they need to when it could be a whole lot less expensive and then stigmatize students for having to borrow to afford their education. Whether someone studies history or engineering, college is one of the best investments one can make.


Source: Authors’ calculations of internal rate of return, values adjusted for inflation using C.P.I.-U; March Current Population Survey 2007-10 averages; National Mining Association; National Center for Education Statistics; Robert Shiller online data; Federal Reserve Bank of St. Louis.

On this 4th, instead of celebrating how great this country is, I think we should be celebrating the potential to make this country even greater. The former indicates we've peaked and have no room for improvement while the latter does not because we're not the best in everything and we shouldn't pretend like we are when we can learn from other countries.
Debt at graduation rises as the quality of school decreases in most cases. The main problem right now are for-profit schools. Tuition for public schools has gone up because of state funding cuts.
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Old 07-04-2013, 10:51 AM
 
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Originally Posted by Gatornation View Post
Debt at graduation rises as the quality of school decreases in most cases. The main problem right now are for-profit schools. Tuition for public schools has gone up because of state funding cuts.
Yeah and overall public investment from state governments towards higher education has been declining over the past several decades despite it going up a little during the mid 90s. What's common in other countries such as Canada, is for the regional governments to fund a higher share of the cost so students are only paying something like 5% of the cost compared to 30% or 40% here.
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Old 07-04-2013, 11:02 AM
 
24,488 posts, read 41,127,429 times
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Quote:
Originally Posted by shamrock847 View Post
Where do you get that college was more expensive 100 years ago?

It was certainly much less expensive 10, 20, 40, 50 years ago...
Look at the cost of tuition. Upenn has good stats in their library.

Tuition became extremely cheap post WWII and stayed that way all the way up until the early 2000s. Recently it has been inching up again but still has not caught up to the norm.

As a result of higher education being affordable, the enrollment has also increased significantly. Now that tuition is heading towards normal rates, we should see a slow down in enrollment (in theory).
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Old 07-04-2013, 09:14 PM
 
505 posts, read 765,015 times
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Quote:
Originally Posted by NJBest View Post
Look at the cost of tuition. Upenn has good stats in their library.

Tuition became extremely cheap post WWII and stayed that way all the way up until the early 2000s. Recently it has been inching up again but still has not caught up to the norm.
I still can't figure out how you are coming up with the idea tuition was more expensive 100 years ago than it is now. I looked at the Upenn website: Educational Costs (1910-1919), University of Pennsylvania University Archives

If you take the 1913 tuition and fees of $160 and translate it in to today's dollars, you come up with a number significantly lower than the ~$45k a year of tuition and fees costs now.

As another point of comparison, in 1913, room and board was more expensive than tuition. Now, tuition is more than 3x higher than room and board. So tuition has grown more than 3x greater than the general cost of living represented by room and board.

For 2013-2014:
Undergraduate Schools:
Arts & Sciences, Engineering, Nursing, Wharton:
Tuition: $40,594
General Fee: $3,772
Technology Fee: $716
Recreation Fee: $324
Average room rate in the University's residence halls: $8,330
Average meal plan: $4,592

For 1913:
Undergraduate Schools:
College and the Wharton School:
Tuition: $150
General Fee: $10
Minimum: Room and Board: $185; Text-books: $10
Maximum: Room and Board: $350; Text-books: $25

Quote:
Originally Posted by NJBest View Post
As a result of higher education being affordable, the enrollment has also increased significantly. Now that tuition is heading towards normal rates, we should see a slow down in enrollment (in theory).
...if this was the case enrollment rates would have been declining for a while since college costs have been rising faster than inflation for many years now - not just since the mid 2000s.
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