CMU empire expanding again (Pittsburgh: credit card, loans, buying)

[BrianTH]

They are in the process of buying some diocese properties across from Central Catholic:

CMU to pay $5 million for diocesan property - Pittsburgh Post-Gazette



As usual, I have serious reservations about a university expanding its footprint like this, and I particularly hope CMU doesn't plan to knock down either of the buildings in question:





On the other hand, if they want to build on the garden and surface parking lots, that would be fine with me.

[sskink]

At least it appears to be tax-neutral.

[BrianTH]

Originally Posted by sskink

At least it appears to be tax-neutral.

True, although it would be nice to get some of the most valuable land in the County back on the tax rolls.

[gg]

Originally Posted by BrianTH

True, although it would be nice to get some of the most valuable land in the County back on the tax rolls.

With wildly high tuition and huge tax benefits, I suspect you will keep seeing both Pitt and CMU continually buy up properties. The education businesses have a very big advantage over the taxpaying corporations. Look at the money those tax havens enjoy and their massive wages at the top. Great business to be in, but I do think it is a bubble that will burst at some point. You don't need teachers in a classroom with the technology of today. They will ride the wave as long as they can, but at some point the wave will hit the beach.

[squarian]

Originally Posted by h_curtis

You don't need teachers in a classroom with the technology of today.

But when you can hire them for $2500 per course and no benefits, there's no reason not to buy them by the carton. Stock up and save.

[BrianTH]

For good or ill, teaching in classrooms is just a small component of what large research universities do.

I'm also a little skeptical about distance-learning entirely eliminating students being physically at universities. I think the technology in question can perhaps be used as a substitute for lectures, but as of now, at least, it isn't really suitable for seminars, labs, collaborative projects, study groups, informal academic discussions, and so forth.

[gg]

Originally Posted by BrianTH

For good or ill, teaching in classrooms is just a small component of what large research universities do.

I'm also a little skeptical about distance-learning entirely eliminating students being physically at universities. I think the technology in question can perhaps be used as a substitute for lectures, but as of now, at least, it isn't really suitable for seminars, labs, collaborative projects, study groups, informal academic discussions, and so forth.

I am not for it either, but as costs go to the moon, there is a breaking point. I think we are getting very close to that point. Kids will have a $50K debt on them before they even get started in life. Not to mention the massive debt we are going to leave them from the Fed level down to the smallest of government bodies. The debt these poor kids will have to carry is really sad and that college debt is one they can control. The one we are going to pass on to them is not in their control. Sure is a sad state all this credit card living the older generation lives for. Colleges are living the high life right now, but I do feel that will end.

[ex-burgher]

CMU should put more of their money into student aid. Only the wealthy or those willing to go over 50,000 in debt can go there. They might give you more if you're a genius but the average accepted student is offered peanuts.

[WhoIsStanwix?]

Originally Posted by h_curtis

I am not for it either, but as costs go to the moon, there is a breaking point. I think we are getting very close to that point. Kids will have a $50K debt on them before they even get started in life. Not to mention the massive debt we are going to leave them from the Fed level down to the smallest of government bodies. The debt these poor kids will have to carry is really sad and that college debt is one they can control. The one we are going to pass on to them is not in their control. Sure is a sad state all this credit card living the older generation lives for. Colleges are living the high life right now, but I do feel that will end.

Most of my friends who went to private schools without scholarships are in the ballpark of $100k debt, and I bet younger siblings and such are going to be closer to $150k eventually. Crazy stuff. I went to a big public school, and had $17.5k in government subsidized loans, and I'm on the low end of kids that I know who took out loans.

Meanwhile, my dad has been looking for a qualified skilled laborer (auto mechanic) for 3 years at $20 an hour plus benefits that would make a teacher jealous. How he manages to do that as a small business owmer, I have no idea, but he believes in that as a principle of being an employer. Too few people in trades, too many people with history degrees from expensive private colleges is the point I'm trying to make here. A new grad wit a liberal arts degree would be jumping at the chance for 35-40k a year with benefits. Too bad they don't have the skills to put brakes on a new corvette.

[BrianTH]

I agree college costs will likely need to stop growing so fast, but you don't need distance learning for that to happen. In general, the cost of teaching itself isn't really the problem.

Here is an interesting read on this subject:

http://www.nytimes.com/2012/04/15/ed...oney-goes.html