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Old 11-15-2020, 12:39 PM
 
433 posts, read 527,288 times
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"Attending a good school in the U.S. comes at a price.

Since 1985, college tuition has risen by roughly 500%, vastly outpacing almost all other increases in the cost of living. Today, there are more than 4,000 colleges in the country, ranging from high-flying Ivy League institutions to more modest, practical schools..."

https://www.visualcapitalist.com/the...ed-by-tuition/
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Old 11-15-2020, 12:46 PM
 
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That list, while accurate, is misleading in that some of the schools with the highest tuition are the most affordable. Almost no one pays the sticker prices at these private schools.
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Old 11-15-2020, 12:47 PM
 
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It's also worth noting that college tuition was at historical lows in 1985. The story is more telling when you look at tuition rates over the past 7-9 centuries. One year of tuition typically matched up with one year of a teacher's salary. This was manipulated by the introduction of certain economic conditions and government funding at periods of times (like the majority of the 1900s), but has generally remained true. Today, tuition is closer to the norms.
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Old 11-15-2020, 01:42 PM
 
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Good points. In the original article on ZeroHedge, they made your point also---for certain groups, low income students, etc., there were scholarships. What I would do would be to compare the rankings in the number of graduates obtaining jobs in their fields and then look at cost(s.)
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Old 11-15-2020, 04:38 PM
 
Location: A coal patch in Pennsyltucky
10,248 posts, read 10,496,131 times
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Quote:
Originally Posted by TexasLawyer2000 View Post
That list, while accurate, is misleading in that some of the schools with the highest tuition are the most affordable. Almost no one pays the sticker prices at these private schools.
Exactly, My son graduated from UPenn in 2008. Their financial aid was very good, but got much better after he graduated. A student from a middle class family can go to many of the Ivy League schools for free assuming they can get admitted. If you're extremely wealthy, they expect you to post list price. According to my son and daughter-in-law who also went there, many of the wealthy students went out to the most expensive restaurants almost every night for dinner.
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Old 02-02-2021, 10:50 AM
 
Location: North by Northwest
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Originally Posted by villageidiot1 View Post
Exactly, My son graduated from UPenn in 2008. Their financial aid was very good, but got much better after he graduated. A student from a middle class family can go to many of the Ivy League schools for free assuming they can get admitted. If you're extremely wealthy, they expect you to post list price. According to my son and daughter-in-law who also went there, many of the wealthy students went out to the most expensive restaurants almost every night for dinner.
My wife began attending Penn around the time your son graduated, and the bolded continued to hold true. She was in the fortunate position where she graduated with minimal debt and paid it all off in less than five years. I believe tuition was 100% covered and the only loans she took out were to cover room and board. But coming from a less affluent family made Penn a difficult place for her socially.

It is nice that Ivy League/equivalent schools can make attending a top-notch university a reality for conventionally middle class and less fortunate students. It does result in cliff effects, where upper-middle class families who don't qualify for aid but still have difficulty paying sticker may opt for a somewhat less prestigious but far more affordable school, whether it's paying in-state tuition for Flagship State U or attending Upper-Mid-Tier Private College on merit scholarship. And in most cases, it won't have any impact on the student's ultimate outcome.
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Old 02-03-2021, 10:27 AM
 
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Absolutely ridiculous that anybody would pay those sums with what college education has become.
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Old 02-03-2021, 07:09 PM
 
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Originally Posted by jobaba View Post
Absolutely ridiculous that anybody would pay those sums with what college education has become.
No one does unless they are from upper class.
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Old 02-03-2021, 07:59 PM
 
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Originally Posted by TexasLawyer2000 View Post
That list, while accurate, is misleading in that some of the schools with the highest tuition are the most affordable. Almost no one pays the sticker prices at these private schools.
Harvard says 55% of students receive need based aid.
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Old 02-04-2021, 07:37 AM
 
12,589 posts, read 8,816,051 times
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Originally Posted by TexasLawyer2000 View Post
It's also worth noting that college tuition was at historical lows in 1985. The story is more telling when you look at tuition rates over the past 7-9 centuries. One year of tuition typically matched up with one year of a teacher's salary. This was manipulated by the introduction of certain economic conditions and government funding at periods of times (like the majority of the 1900s), but has generally remained true. Today, tuition is closer to the norms.
The "cost" 700 years ago is irrelevant to the cost today. 700 years ago daily life was so different that college wasn't a factor. Today however, college or some form of post high school education or training is essential for most people. Making unaffordable to those who need it doesn't provide the workforce the modern world needs.

Quote:
Originally Posted by TexasLawyer2000 View Post
That list, while accurate, is misleading in that some of the schools with the highest tuition are the most affordable. Almost no one pays the sticker prices at these private schools.
That may be correct, but is also irrelevant to the vast majority of students because they aren't going to attend one of that handful of top schools. A few thousand lucky few who get to attend one of those schools with plenty of financial aid is barely a blip on the cost impact to the million others who don't attend Harvard and also don't get much financial aid because their parents make to much to be poor and don't make enough to be rich.
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