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If your kids went for free, why are you complaining?
Because I realize the universe does not revolve around me. Not only am I allowed to care about the impact things have on others, I have a moral obligation to do so. Just because things have worked out for my kids doesn't mean there isn't a problem with the system. We have an entire generation that is starting life out with a large amount debt that can not be discharged and that people of our generation were not burdened with. Sure there are exceptions like our children, the children of the wealthy, and the children of families with income so low they get everything paid for, but for the most part those that go to college today will spend the bulk of their young adult lives paying off student loans. The worst part is that often a college education now only enables them to get jobs that our generation got with free high school diplomas.
Based strictly on the data, college costs have spiraled out of control and well exceed the cost compared to average income ratios of the past.
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Because I realize the universe does not revolve around me. Not only am I allowed to care about the impact things have on others, I have a moral obligation to do so. Just because things have worked out for my kids doesn't mean there isn't a problem with the system. We have an entire generation that is starting life out with a large amount debt that can not be discharged and that people of our generation were not burdened with. Sure there are exceptions like our children, the children of the wealthy, and the children of families with income so low they get everything paid for, but for the most part those that go to college today will spend the bulk of their young adult lives paying off student loans. The worst part is that often a college education now only enables them to get jobs that our generation got with free high school diplomas.
Based strictly on the data, college costs have spiraled out of control and well exceed the cost compared to average income ratios of the past.
Actually, that is not true. The average starting salary for a college grad is about $49,000 and the average student loan debt is just under $30,000. Back when I graduated and even before then, that debt ratio was 1:1 so that figure has actually gotten better. The actual ratio of parental income to college costs has been pretty stagnant over the past 40+ years.
Actually, that is not true. The average starting salary for a college grad is about $49,000 and the average student loan debt is just under $30,000. Back when I graduated and even before then, that debt ratio was 1:1 so that figure has actually gotten better. The actual ratio of parental income to college costs has been pretty stagnant over the past 40+ years.
and, since bluedevilz likes links...here are the AVERAGES not "median" and if you run the math, the ratios are actually better NOW....
It's just harder to look at the numbers because they are bigger....but so are starting salaries....and mid-career salaries....
You keep repeating your nonsensical and unsupported by fact "ratio of parental income to college costs"
The rest of us who live in the real world will deal with the facts as they really stand...
"Since 1982 a typical family income increased by 147%, more than inflation but significantly behind the huge increase in college costs. College costs have been rising roughly at a rate of 7% per year for decades. Since 1985, the overall consumer price index has risen 115% while the college education inflation rate has risen nearly 500%" College Costs Out Of Control - Forbes
"As the out-of-pocket costs of a college education go up faster than incomes, it's pricing low and medium income families out of a college education," said Mark Kantrowitz, publisher of financial aid sites FinAid.org and FastWeb.com. Rising college costs price out middle class - Jun. 13, 2011
"College has become more expensive relative to current income. "
It’s not your imagination: when it comes to college, the “good old days” really were the good old days. Today, the cost of college is rising at such a rapid rate relative to income, 130% over last 20 years, that college costs comprise a far more significant financial burden than they did on students only 20 years earlier. Consider this: when adjusted for inflation, Americans in the middle class actually earn a few hundred dollars less than they did 20 years ago. Why Is College so Expensive? | StraighterLine
Last edited by toobusytoday; 05-23-2014 at 06:00 AM..
Reason: removed rude word
You keep spewing your nonsensical and unsupported by fact "ratio of parental income to college costs"
The rest of us who live in the real world will deal with the facts as they really stand...
"Since 1982 a typical family income increased by 147%, more than inflation but significantly behind the huge increase in college costs. College costs have been rising roughly at a rate of 7% per year for decades. Since 1985, the overall consumer price index has risen 115% while the college education inflation rate has risen nearly 500%" College Costs Out Of Control - Forbes
"As the out-of-pocket costs of a college education go up faster than incomes, it's pricing low and medium income families out of a college education," said Mark Kantrowitz, publisher of financial aid sites FinAid.org and FastWeb.com. Rising college costs price out middle class - Jun. 13, 2011
"College has become more expensive relative to current income. "
It’s not your imagination: when it comes to college, the “good old days” really were the good old days. Today, the cost of college is rising at such a rapid rate relative to income, 130% over last 20 years, that college costs comprise a far more significant financial burden than they did on students only 20 years earlier. Consider this: when adjusted for inflation, Americans in the middle class actually earn a few hundred dollars less than they did 20 years ago. Why Is College so Expensive? | StraighterLine
Keep spouting "median" income reports....it doesn't matter what the 16 year old kid working at McDonald's makes....he's not in college, nor is he paying for college. They have also not adjusted the reduced funding for state schools which accounts for most of the cost increases.....
Again, I gave you apples to apples comparisons.....feel free to actually do the math yourself.....and--for low income families--there are 1000's of schools that would be free for them so not quite sure how they are priced out of the market...
what a set up, you can apply and then get a limited amount but the school can up their price as often as they want. I feel there should be a limit on the price of school
Wrong, a business should have the right to modify their prices how they see fit. Do you feel that restaurants and department stores shouldn't be allowed to make price changes also?
Keep spouting "median" income reports....it doesn't matter what the 16 year old kid working at McDonald's makes....he's not in college, nor is he paying for college. They have also not adjusted the reduced funding for state schools which accounts for most of the cost increases.....
Again, I gave you apples to apples comparisons.....feel free to actually do the math yourself.....and--for low income families--there are 1000's of schools that would be free for them so not quite sure how they are priced out of the market...
As it happens, I agree with you golfgal that there are affordable colleges out there, especially if you have a smart kid and you search for the ones with good merit aid. As I've mentioned a few times on this forum, my B kids were able to go to small private colleges and we paid about the same price as in-state Penn State tuition. They could have attended a different tier Pennsylvania State College for even less. But it took us quite a bit of searching to find colleges that offered large merit aid with their stats. Our youngest child, now in his senior year of college will have more loans than his older siblings because of his choices. He had the grades but wanted a college that didn't offer as much merit aid. Fortunately, his major will most likely make employment a non-issue.
What made me post though, was your comment above about the kids not working at McDonalds. Truth is, many parents work at McDonalds or make just enough to keep their heads above water, but not eligible for large amounts of financial aid. I know many families where one parent stayed home with the kids for several years, or a spouse lost a job and couldn't find another for a year or two. For whatever reason, it is really hard to afford college, especially if you have multiple children.
Actually, that is not true. The average starting salary for a college grad is about $49,000 and the average student loan debt is just under $30,000. Back when I graduated and even before then, that debt ratio was 1:1 so that figure has actually gotten better. The actual ratio of parental income to college costs has been pretty stagnant over the past 40+ years.
I'm curious where you're getting that starting salary data - it doesn't seem to be on the SSA site you linked. Which isn't surprising - SSA would certainly have salary info but no data on degree completion.
Now, NACE publishes a report on starting salaries, but it's based on survey data (which in and of itself is basis for some skepticism about how entirely accurate it is). But what their data does reveal is that the 'average' isn't overall very useful (pl. What you see is essentially a split into 3 pods - above average fields (CS/Engy/Business), average fields (math/sci/communications) and below average fields (social science/eduction/humanities).
If you do have a specific citation on starting salaries, I'd be very curious to read it.
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