About college prices…visiting campuses.

So, starting on my oldest casually visiting colleges a little early. Sorry but just have to say regarding the state of the campuses NOW compared to the early 90s when I was a freshmen. An entirely different level. When you see the campus facilities NOW, it’s not hard to imagine why costs are where they are.

Seriously. When I was just leaving college, UM, so NOT cheap, we just got what resembled a mall-style food court. Otherwise we had a couple buffet cafeterias. No frills. But now touring around FL? You’re talking full restaurants, NICE cafes, chains, student centers and breezeways that make what I had in the 90s look like low cost slums, hehe. Some campuses were obviously still beautiful due to architecture and open space, but also stripped down. Those same campuses are STILL beautiful but holy crap!!!

The student housing I’m seeing are like hotels!!!! Campuses look like *******n theme parks in parts!!! I had blank cement walls and AC units in the windows that broke all the time. Cable you paid extra for. No internet at the time except in the computer labs. Truly no frills REAL college living! NOW it’s like 4 star resorts!!! For **** sake, hahaha.

Sorry. When I heard kids bitching, I had some sympathy, but now my ENTIRE attitude has changed. SERIOUSLY **** UP you whining sniveling little entitled mommas boys/girls!!! In my case I’m paying for this since I can. I can see where the money has gone. Personally wish they hadn’t done what they’ve done because it probably would be a whole lot cheaper to maintain. But Im sure the kiddos would complain how gross it is. All these campuses have to compete with one another for cool factor and WOW!!!

It’s an entirely different college world now. I SEE why the costs have gone up. Damn!!!

 

And in typical liberal fashion if you were to ask them to make a cut they would say that would mean they’d have to cut the math department first so unless you want to go on record as hating math, then no cuts allowed

 

And think about the irony of this.... None of those embellishments would have been possible save for the skilled work of professional tradesmen

 

My son is starting in two weeks, luckily, he settled for state school.

I've said many times before that the reason for outrageous college costs is not faculty salaries, it is hotel-like dorms, state-of-the-art dining facilities and gyms, tons of administrative support services (advising at my university has probably around 50 employees) etc. We've visited universities last year where the student union looked like a modern airport terminal, with tons of shopping and dining options.

The problem for universities is: They need to have all those things to be competitive in admissions. It's a free market. Universities that are barebone (if they would still exist) would not attract the best students. They want the "college experience" and that's what colleges supply, no matter the cost.

If you want to lower college costs, this is where it starts: Student would actually have to WANT and go for lower cost, barebones options, which focus on education rather than the "college experience". However, it is easy to go for all the goodies when it is put on daddy's credit card.

 

No kidding. Amazing how the MSM calls anyone NOT going into STEM useless. Obviously we want as many STEM students as possible. But we also need competent tradesmen, builders, electricians, plumbers, etc that do NOT require 4yr degrees. Just sweat equity. So many people just aren’t fit for college or simply don’t need it.

I always stand over any tradesmen I hire to do work in my house and learn as much as I can from them. I envy and respect them. Little things I’ll do but I’d never rip down walls and want to run electric or plumbing. Leave it to the pros. And we need MORE!!

 

Oh yeah. I saw it first hand as my daughter made comments as we walked around There just weren’t the same expectations when I went.

 

It’s simple, universities should not remain stuck in the dark ages in 2023 and going forward. The world has evolved a lot and everything needs to evolve with it, that includes schooling.

That being said, whether it’s now or then there’s no reason for a textbook that will likely only be used for one semester to cost $300.

 

Yes. They have to be state of the art but that isn’t cheap. And no, textbooks shouldn’t cost that much. But take a guess who’s making the text books? Curious how much universities buy them for vs what they charge

When people claim everything is so expensive. Well? Duh. It’s going to be more expensive when campuses are theme parks. Campuses were NOT like this when things were “cheaper”. There was a lot of no frills. What we called amenities were subjective compared to what kids have today, hehe. That’s part of the problem, besides govt backed loans.

 

I thought the big money was spent on celebrity professors who were drawing big salaries because they are in such demand. When I went to University of Delaware, the facilities were nice, but hardly lavish. It cost about $1,500 a semester for tuition, room and board. Out of state students paid a good deal more.

I wonder how many grad students you get these days teaching courses? Some were okay, but most of them were disappointing. The guy I got to teach calculus using couldn’t solve the problems on the blackboard. The vast majority of courses were taught by professors.

 

Textbooks isn't really that much of a problem. While university bookstores sell them at a slight premium (for those who didn't buy in time and need it NOW), you can also buy them on Amazon, or used. You can also sell them again when you graduate. We now use free online textbooks in our intro chem courses. BTW: The universities don't make text books. They are written by private people, and published by private publishers. We get hounded by publishers every year to select THEIR textbook for courses. We base our decisions on quality and price. We review the textbook selections every three years. However, I am sure there are some faculty who are corrupt and who get kickbacks. After all, in a 1000 student course, a $100 textbook generates revenue of $100,000. That's not peanuts.

 

Colleges are responding to incentives. With the never ending spigot of federal student loans, they can charge what they wish.

I think there should no longer be any federally guaranteed student loans.

 

Federal student loans max out at $5,500 a year. That doesn't get you very far...

 

They should be eliminated, both because they are a bad incentive and are in violation of the constitution.

 

make sure to take out loans and then force blue collar workers to pay for them

 

How?

 

How? They distort the market and congress has constitutional power to make a law about student loans.

 

I'm sure there are subsidies for students of need beyond $5,500 a year. That, I'd think, is at least part of how they can get into 6 figure debt.
And if they ever get around to $10K Federal loan forgiveness? The schools will happily add that much to their fees.
I think we need alternatives to institutional schools. For instance, you have to pass 5 year course to acquire the pre-requisite to take the CPA exam. If you are paying to take, and can pass without cheating, the CPA exam? It is none of their business how you train for a test if you can pass it without cheating.
The need for these higher degrees is fake. You want to be an MD? Get a job at a hospital, work your way up with OJT, have exams and labs they must pass and bing! You got an experienced doctor that didn't rack up $300K in debt.

I think that, short of a complete societal collapse, is the only way to fix this insanity.

ITMT: My kid got grants, but only if I applied for FAFSA, which basically had me let them perform a financial rectal exam on me, and honestly, I thought I heard the computer laugh out loud and say, "not for youuuuu" regarding whether or not we should receive any additional funding assistance. What a racket.

 

It's private loans that get students (or, really, their parents, because they have to co-sign) into $100,000+ debt. These loans currently have a 8.5-9% interest rates, and, they are not dischargeable. That's quite a nice profit for the banks for a loan that HAS to be paid back, unless the debtor dies.

That's why I am glad my son is going to state school. We are paying for it out of pocket (and from the 529 we started when he was 2 years old). He'll be debt free when he graduates, unlike the vast majority of his peers.

 

Then it needs to be fixed not eliminated.

 

Same. My daughter got her MBA and is debt free. We had a system that allowed us to start saving when she was born. Now 2 years out of her State program she is already out-earning me! Thanks to housing costs, she still needs to live with me while saving for a home.
Now, my cousin's daughter wants to go to a school that costs $80K a year. That's $320K for 4 years. $320K would buy a liquor store and a future in many parts of the country. Insane.

 

I hear ya.

My daughter stayed at dorm that had a lazy river. It was like living in a nice hotel. Not at all what I remember from my college days.

 

have to agree, that plus degrees are not worth what they once were

 

I could have told you that and I wasn't around then. We had TV/internet/telephone line in our dorms but they weren't "free". They were part of one of the add-on fees we paid. Some of the bells and whistles stuff is more oriented toward alumni and guests for events, not students. Yes we had a lot of fast food joints but you really had to pay to have a meal because your meal plan card would get you like a small soda and a soft taco or two soft tacos and no soda. It was cheaper to walk across the the pizza hut in the strip mall than to go to the one on campus as well.

I will cede a lot of money goes into stuff very few or only a select few people use.

 

At 8.5% interest, that $320k will grow to $450k+ when the four years are over. Tell your cousin to make a spreadsheet and calculate the total cost after interest. I did, and that's what killed private school for my son. The scary thing is that a lot of parents just look at the prestigious name of the dream school and pay up, without knowing what they really get into. I know, because I talk to them during our school's admitted student weekends.

 

It either needs to be eliminated or the constitution needs to be amended to allow such legislation.