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(Chicago Breaking News)   College tuition costs rise at twice the rate of inflation for the 30th straight year. Apparently, Economics 101 is not required to run a university   (chicagotribune.com) divider line 51
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410 clicks; posted to Business » on 22 Oct 2007 at 8:19 PM (6 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2007-10-22 04:38:25 PM
People will still pay it, and people will still be giving out student loans. Once you sign up for a student loan, they have you by the balls.

The way that I've reconciled the fact that I went to the military right out of high school and not college is that I chose to get my slavery out of the way early.

When my enlistment ends (in less than a year), I'll be off to college. I'll be getting the Illinois Vet Grant, which will pay for my tuition, and pocket the GI Bill, which is about $35K. That, along with a little MCJob, I think I'll do ok, financially speaking.
 
2007-10-22 05:57:21 PM
The way that I've reconciled the fact that I went to the military right out of high school and not college is that I chose to get my slavery out of the way early.

Yeah. Going to college and having a student loan is just like slavery.

As for student loans, if you study anything remotely practical, the tuition pays for itself soon enough.
 
2007-10-22 06:16:03 PM
chimp_ninja: The way that I've reconciled the fact that I went to the military right out of high school and not college is that I chose to get my slavery out of the way early.

Yeah. Going to college and having a student loan is just like slavery.

As for student loans, if you study anything remotely practical, the tuition pays for itself soon enough.


Also depending on what you do and what you study. If you're lucky, you can sometimes get gigs in the summer doing RA work for profs, which isn't much, but in the long run helps a lot when applying for the nicer jobs.

/tuition is only $4500 a year
 
2007-10-22 06:28:05 PM
Frank N Stein: Once you sign up for a student loan, they have you by the balls.

Luckily, I haven't had to go down that path yet.
/$3500/year for tuition, $200-$600/year for books and supplies.
 
2007-10-22 07:44:46 PM
I personally think University Education should be paid by the government, but then again I am a Canadian socialist.
 
2007-10-22 08:26:05 PM
klymen: I personally think University Education should be paid by the government, but then again I am a Canadian socialist.

I would support grants for people with useful degrees, but I'm not eager to pay for the loser liberal arts majors.

/proud liberal artist
//maybe not so proud
 
2007-10-22 08:51:50 PM
College tuition costs rise at twice the rate of inflation for the 30th straight year. Apparently, Economics 101 is not required to run a university

... or to submit a headline to Fark, apparently.
 
2007-10-22 08:54:52 PM
They know econ 101 perfectly... they know that the government will back loans to students, and so they can keep jacking up the price every year.
 
2007-10-22 09:06:28 PM
klymen: I personally think University Education should be paid by the government, but then again I am a Canadian socialist.

I personally think University Education should be paid by the government, but then again I am a poor American college student.
 
2007-10-22 09:11:11 PM
They know econ 101 perfectly... they know that the government will back loans to students, and so they can keep jacking up the price every year.



This. Though it's sad that university's today are forcing kids to graduate with thousands upon thousands in debt. Here in California, if you look at the overall expenditure on education compared to total expenditure, it's gone down every year since 1967 I believe.


College is becoming prohibitively expensive, and that's not a good thing. It'd be nice if our legislators thought education was worth funding.
 
2007-10-22 09:16:30 PM
economics 101: something is worth whatever people are willing to pay for it.
 
2007-10-22 09:19:27 PM
Because the government subsidizes it. Anything the govt subsidizes goes up in price quickly. Its no coincidence that 30 years ago is when the Dept. of Education was created.
 
2007-10-22 09:23:57 PM
economics 101: something is worth whatever people are willing to pay for it.



I disagree. An item is worth its equilibrium value. That item may be purchased for an amount well above its equilibrium value because the purchaser derives a consumer surplus from the item equal to the price he paid minus the equilibrium price. That doesn't mean the item is worth what was paid, though.


/ Has an MA in Economics
 
2007-10-22 09:27:25 PM
The stupid in this thread; it is strong.

Today's college students ABSOLUTELY would not stand for the facilities or student life spending that their parents thought was grand. As long as you guys want Club Med, you will have to pay for it.

How many students would attend a bare-bones university with great classroom profs? No expensive football team, no expensive concerts, etc.?

Not many.
 
2007-10-22 09:28:46 PM
My school decided to raise tuition and student fees because they were scared of looking too cheap compaired to other schools.
 
2007-10-22 09:29:02 PM
Most in-state schools can be attended for about $1000/month, which you can make doing a McJob after school.

If you want to go to Harvard, and spend $42k/year, don't be crabbing about the student loans.

Better yet, go to Community College. They have better student/teacher ratios, generally don't have TAs, you can save money staying at home (sucks, but I survived it) and then transfer after 2 years (most 2 year schools have program agreements with 4 year schools to guarantee credit transfers).

/unless it is grad school, nobody cares where you go to undergrad
 
2007-10-22 09:38:30 PM
So why is it that when the price of gas keeps going up there is such a clamor for caps of CEO pay, but nobody wants to cap salaries at Universities?
 
2007-10-22 09:47:35 PM
Moses To Sandy Koufax: economics 101: something is worth whatever people are willing to pay for it.



I disagree. An item is worth its equilibrium value. That item may be purchased for an amount well above its equilibrium value because the purchaser derives a consumer surplus from the item equal to the price he paid minus the equilibrium price. That doesn't mean the item is worth what was paid, though.


/ Has an MA in Economics


I've always looked at it as the same difference.
 
2007-10-22 09:48:14 PM
I have an honors degree AND a master's in History. I have a great job in my field (archivist/genealogy researcher).
6.5 years in university. I love history. I love my job. The debt is manageable, and I have a decent apartment in a good part of the city.

However, I originally went for the WRONG REASONS. I went because my parents wanted me to, and had all these expectations. I wish now, in hindsight, that I had followed my "dream" and gone to culinary school. I'd rather have been a chef.

Anyone else in this position? Blowing a buttload of time and cash on a college education when they really wanted to do something else?

I feel dumb in hindsight...
 
2007-10-22 09:59:37 PM
Gortex: I have an honors degree AND a master's in History. I have a great job in my field (archivist/genealogy researcher).
6.5 years in university. I love history. I love my job. The debt is manageable, and I have a decent apartment in a good part of the city.

However, I originally went for the WRONG REASONS. I went because my parents wanted me to, and had all these expectations. I wish now, in hindsight, that I had followed my "dream" and gone to culinary school. I'd rather have been a chef.

Anyone else in this position? Blowing a buttload of time and cash on a college education when they really wanted to do something else?

I feel dumb in hindsight...


I went to law school because I come from a family of doctors and lawyers and never felt I had any other choice. I have a successful practice and make good money but I HATE MY JOB. Would trade it all in and teach history (BA, MA History from a big school) if I could.
 
2007-10-22 10:03:35 PM
bronyaur1:
How many students would attend a bare-bones university with great classroom profs? No expensive football team, no expensive concerts, etc.?

Not many.



I did just that for my undergrad and now grad school too. Football team sux, no concerts that I know of, etc etc etc. Tuition is $36K/yr (for 2 years) but I'll be coming out with a job paying around $120K/yr, so it's a worthwhile expense.
 
2007-10-22 10:04:35 PM
Frank N Stein:

People will still pay it, and people will still be giving out student loans. Once you sign up for a student loan, they have you by the balls.

The way that I've reconciled the fact that I went to the military right out of high school and not college is that I chose to get my slavery out of the way early.

When my enlistment ends (in less than a year), I'll be off to college. I'll be getting the Illinois Vet Grant, which will pay for my tuition, and pocket the GI Bill, which is about $35K. That, along with a little MCJob, I think I'll do ok, financially speaking.


Just have to ask: you have your parents to thank for being this smart?
 
2007-10-22 10:20:39 PM
Moses To Sandy Koufax: They know econ 101 perfectly... they know that the government will back loans to students, and so they can keep jacking up the price every year.



This. Though it's sad that university's today are forcing kids to graduate with thousands upon thousands in debt. Here in California, if you look at the overall expenditure on education compared to total expenditure, it's gone down every year since 1967 I believe.


College is becoming prohibitively expensive, and that's not a good thing. It'd be nice if our legislators thought education was worth funding.


Definitely true. My parents saved up from when I was born practically to allow me to go to school where I wanted to go. Wasn't getting financial aid because they made decent money, but got the highest academic scholarship available at my school ($10k/yr). But when it came down to it, they had the money saved for so long, and told me to choose on what was the best for me, not where it was cheapest. I will certainly be doing the same when/if I have kids, even if it means living in a smaller place, no cool cars, etc.

I know everyone is not as lucky as I was to have that going on. I see a lot of my friends in a ton of debt because of student loans, which I don't have to deal with. And that makes it stick out to me even more than it's something I should be doing for my kids.
 
2007-10-22 10:34:45 PM
Most liberal arts programs are bullshiat, but I'm lucky I went to a tech school.

/tech writer
 
2007-10-22 10:39:32 PM
Student loans are out of control. I know a girl who just graduated with her masters in education. She's 32 years old and her loans are on the 30 year plan. Which means by the time her loans are paid off she'll 62 and eligible for social security. Assuming there still is a social security.
 
2007-10-22 10:42:13 PM
aurorous: Student loans are out of control. I know a girl who just graduated with her masters in education. She's 32 years old and her loans are on the 30 year plan. Which means by the time her loans are paid off she'll 62 and eligible for social security. Assuming there still is a social security.

Waahhhh. She should've picked a different career. I was lucky enough to get some aid after a family death (not like we were rich to begin with), but I found a company that is paying for my MS.

I'm sure she'll be fine though.. teachers are overpaid anyway.
 
2007-10-22 10:49:46 PM
qilo :
I went to law school because I come from a family of doctors and lawyers and never felt I had any other choice. I have a successful practice and make good money but I HATE MY JOB. Would trade it all in and teach history (BA, MA History from a big school) if I could.

I came within 14 days of going to law school.

Woke up one morning, thought "WTF am I doing?", called 'em and said no thanks.

Close call.

Unfortunately, I'm not doing what I want to be doing, but what I want to be is a pirate magician mercenary.
 
2007-10-22 11:33:58 PM
I think they have that supply and demand thing down. The Human Resources industry has sold Corporate America on the belief that only people with degrees have any brains. So there is a huge demand for people with degrees, any degree, to fill position like Call Center Clerk, or Manager Trainee. And in return you get such prestigious academies of learning as the University of Phoenix. Which has no football team, if you can imagine such a thing. But I digress, You get people graduating with degrees that mean nothing because they are stupid. In America, no University flunks a student if they are paying their bills, exception made for gross misconduct.

Even advance degrees such as MBAs are virtually worthless unless you come from an Ivy League school. Sorry grads of other schools, of which I am one, but I see grads coming for job interviews and they can't form a simple declarative sentence. The women think they can get hired if they show some thigh. If you don't hire them, they biatch about being discriminated against. Now get off my lawn, biatches.

And for the comment about "expensive" football teams. In many cases the football team pays their own way. tOSU Buckeyes will return $52 million to the University this year. That allows the U to fund things like Women's hockey. Football is a net contributor to the bottom line at many Universities.
 
2007-10-22 11:50:42 PM
Woot! Berklee College of Music 40k a year and counting.

Go me...
 
2007-10-23 12:11:55 AM
USC=$38k/year!

/full scholarship
//and useful degree in engineering
 
2007-10-23 12:39:08 AM
FSU just went up from about $1300 to $1500 per semester. Pay for tuition and living expenses on student loan.

The profs are smart, but some are not necessarily great "teachers".
 
2007-10-23 12:52:07 AM
They've managed to dramatically increase their price without shrinking their customer base one iota.

I think they'd do jsut fine in b101, thanks.
 
2007-10-23 01:17:24 AM
I don't recall anything from Econ 101 that said that the price of any given thing could, would, or should necessarily keep pace with inflation. The price of a pocket calculator and the price of a barrel of oil haven't, and no one's surprised by that. Why should college tuition? I mean from an economic standpoint, not the "b-b-but it SHOULD!" kind of "should."

Suflig: Woot! Berklee College of Music 40k a year and counting.

My child, when life at Berklee gets you down, just stroll across Mass Ave. and wander the decaying halls of TBC for a few minutes. Sit in on a musical theater class. Poke around the practice rooms. I promise you, it'll do wonders for your mood. (And if you ever run across someone from NEC poking around your building, well, now you know what's up.)
 
2007-10-23 04:47:51 AM
landmantx

Because the government subsidizes it. Anything the govt subsidizes goes up in price quickly. Its no coincidence that 30 years ago is when the Dept. of Education was created.

Actually, state funding for higher education has gone down steadily over the last few decades. At this point, many flagship state schools like the University of Michigan and the University of Virginia consider themselves state affiliated, not state supported, as public money makes up less than a quarter of their revenue.

Moreover, the department of education has little to do with funding universities. The largest government subsidy of higher education, the GI Bill, was enacted long before the Department of Education came into being. Federal aid and tuition often move in opposite directions.

In short, please stop bringing the stupid into this thread.
 
2007-10-23 05:26:17 AM
College is really only supposed to teach you how to research. (and give you the skills needed to become a doctor/lawyer/professional engineer) I almost want to say that 60-70% of people don't even need college--but society as a whole has made the BS/BA the new high school diploma.

/applying to graduate school because I like learning, not because I expect to make any extra money
//and yes, I did have a "useful" major in college.
 
2007-10-23 08:14:43 AM
The problem isn't the high price of colleges; the problem is the inadequacy of high schools. If high schools did a decent enough job of teaching kids what the "real world" would be, then they wouldn't feel the need to delay their entrance to said world.

Now many colleges are failing to prepare their students so they will go on and clog up the graduate degree program. I'm a senior now at a pretty good private college getting a very good scholarship. I've known what I wanted to do with my degree since kindergarten (yes I know I was lucky) and the money I will make, assuming I make the average salary for my field, will pay off any debt I have very quickly. I am taking classes with people who when asked what they are doing after the graduate, they say grad school. Some of these dickheads haven't even picked a major yet. They are just trying to avoid getting off mommy and/or daddy's dime.

Damn populism is ruining the schools filling it with people more interested in boozing and womanizing while kids rack up hundreds of thousands of dollars in debt that I will have to pay for because they government will punish the fiscally responsible.

\angry, cynical, and superior and its not even 8:30 yet.
\\thanks fark
 
2007-10-23 08:39:24 AM
If the demand for higher education is so high (as it obviously is), why isn't supply increasing? I can't think of a single new college or university that's opened in my area in the past decade.
 
2007-10-23 08:52:00 AM
Apparently compound interest isn't taught in school anymore, or most people borrowing to attend college would have said "fark THIS" long ago.
 
2007-10-23 09:01:09 AM
I used to feel bad about going 50k total for my post-high school education, but now that I see that people are paying that per YEAR, I feel better.

Seriously, who the fark pays that much per year? Here's a hint: find a cheaper state school. The way degrees are being bandied about, going to an expensive school only shows you got more money than brains.
 
2007-10-23 09:29:42 AM
This applies unless.. you know.. live in Ohio.

Where they've frozen tuition increases this year.

Yeah.
 
2007-10-23 10:01:23 AM
qilo:
I went to law school because I come from a family of doctors and lawyers and never felt I had any other choice. I have a successful practice and make good money but I HATE MY JOB. Would trade it all in and teach history (BA, MA History from a big school) if I could.


You can, you whiny biatch. (being hard for a reason, bear with me)

You're telling me you can make it through law school, the bar exam, and setting up and maintaining a successful practice, but can't manage to move towards doing what you actually want to do?

Use your current income to pay off all your debts, if any, and set yourself up to go teach at a lower salary. Yeah, you won't be able to live like a successful lawyer. You'll have to drive used american cars and go to Applebee's instead of of Chef Pierre's Bistro d' Fromage.

But you'll get to do what you love. Right now, you're trading a job you hate for a few shiny baubles your higher income can afford you.

Is it really worth it?

\might want to volunteer where you'd like to teach before you really commit to it.
 
2007-10-23 10:43:34 AM
Dynascape: This applies unless.. you know.. live in Ohio.

Where they've frozen tuition increases this year.

Yeah.


Georgia (the state, not the so-called university) has frozen tuition for incoming freshmen. So once you're in, you keep paying the same thing every year.
 
2007-10-23 11:06:32 AM
Northwestern University. Over $48,000 per year. Woot.
 
2007-10-23 11:18:49 AM
Just finished undergrad last spring at a school that now costs $45,645. If it's not over 50k next year, it will be the one after. Even though costs went up a few thousand dollars each year I was there, my actual cost never went up - they just kept increasing the amount of financial aid by the same amount, which was also the case for all my friends. Weird.

/School offered zero academic (or athletic) scholarships
//Now, chem grad school
///They pay me!
 
2007-10-23 11:32:43 AM
Woo-hoo! Pre-paid college plan, really smart kids, Bright Futures Scholarships, dual enrollment at CC (FREE!) and they can bike to university from home (or they could go to UCF and live with Gramma). Graduated by 21, no debt for them or me!

/Go Gators!
 
2007-10-23 12:11:42 PM
The tuition at my university (in France) were something along the lines of $400 per year. My health insurance cost me 40 bucks a year. When I went to the US, my degree allowed me to get the exact same jobs and salaries than other Americans.
There's something to be said about a country where you won't get large debts because of your education or medical emergencies.
 
2007-10-23 12:54:37 PM
padraig: The tuition at my university (in France) were something along the lines of $400 per year. My health insurance cost me 40 bucks a year. When I went to the US, my degree allowed me to get the exact same jobs and salaries than other Americans.
There's something to be said about a country where you won't get large debts because of your education or medical emergencies.


So with all of the money you've saved (plus the buying power of the Euro compared to the dollar), why can't you guys afford deodorant?

/I keed I keed
 
2007-10-23 04:14:50 PM
The_Drunken_Clam: If the demand for higher education is so high (as it obviously is), why isn't supply increasing? I can't think of a single new college or university that's opened in my area in the past decade.

High initial capital investment required and long cycle on increasing supply of professors (It would take something like a decade for upping enrollment at grad schools to affect the output of professors.)
 
2007-10-23 05:19:55 PM
godofusa.com: Most liberal arts programs are bullshiat, but I'm lucky I went to a tech school.

/tech writer


Of course, not having attended a liberal arts program, you are in an expert position to offer this opinion.
 
2007-10-23 05:43:00 PM
bronyaur1
My department was from the "College of Science and Liberal Arts."
 
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