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(Huffington Post)   President of Yale University: "The challenge is that college education costs a lot" and sometimes you're stuck with a worthless Harvard degree at the end of it all   (huffingtonpost.com) divider line 20
    More: Obvious, Salovey, Harvard, higher educations, HuffPost Live at Davos, World Economic Forum, Duke University School of Medicine, multivitamins, David Agus  
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3166 clicks; posted to Main » on 22 Jan 2014 at 10:03 AM (31 weeks ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



Voting Results (Smartest)
View Voting Results: Smartest and Funniest

2014-01-22 10:26:46 AM
3 votes:
This is why kids saddled with debt have to take whatever job they can get, leading to situations akin to indentured servitude.
2014-01-22 10:12:12 AM
3 votes:

Fano: And is there any reason the cost keeps skyrocketing? at UVa I could say that the pharoahs of old had nothing on college presidents, always building something new whether it was needed or not.


The reason is that when they raise prices, various governments respond with more subsidies, loans, grants, and whatnots.  There isn't much in the way of downward pressure on prices.
2014-01-22 10:35:30 AM
2 votes:

lennavan: Fano: And is there any reason the cost keeps skyrocketing?

States fixing their budgets by giving less and less tax dollars to the Universities.


HR departments requiring 4 year degrees for jobs that you should be able to get after graduating high school.

HR departments: the biggest driver of pointless degree inflation in America.

Second is the fact that we view trades as lesser work nowadays. Laugh, but anyone who makes it to master any trade is probably as smart as that doctor performing surgery.

/journeyman mason and electrician
//liked computers more
2014-01-22 10:15:00 AM
2 votes:
What is 200k to the 1%?
They spend that on automobiles.

They just price smart poor kids out of making ivy league contacts.
2014-01-22 10:10:27 AM
2 votes:
25.media.tumblr.com
2014-01-22 10:08:38 AM
2 votes:
And is there any reason the cost keeps skyrocketing? at UVa I could say that the pharoahs of old had nothing on college presidents, always building something new whether it was needed or not.
2014-01-22 11:33:48 AM
1 votes:
Be a Politician. The real money is in politics. Get into office then rape the Nation. It's legal and lucrative.
2014-01-22 10:58:52 AM
1 votes:
Why are we having difficulty? Because we don't view an educated public as a common good.
2014-01-22 10:56:10 AM
1 votes:
Who says those ivory tower types don't know business?

1.  Convince Americans that every child must have a college degree (and make sure you offer plenty of majors in which any moron can get one).

2.  Jack the price of college education out of sight.

3.  Profit.
2014-01-22 10:51:04 AM
1 votes:
@mike_d85

Actually only 10% of colleges benefit from high powered football programs.
45% break even
and 45% are actually costing the college money.

http://www.ohio.com/editorial/richard-vedder-price-of-a-touchdown-a- co st-benefit-analysis-1.456658
http://www.bizjournals.com/birmingham/blog/2012/08/which-college-foo tb all-teams-get-the.html
2014-01-22 10:45:34 AM
1 votes:

mike_d85: The Irresponsible Captain: "I think we are living in a time where states have not been able to invest in higher education the way they once did."

Taxes are are socialism.

But, when you're building luxury suites, dorms, and stadiums while paying presidents and coaches exorbitant salaries on the taxpayer's dime people have a right to be angry.

/There's plenty of blame to go around.

Actually, football programs RAISE money for colleges overall.  As in: the actual learning institution is making money.  It's the best funding source colleges have, otherwise schools wouldn't bother running semi-pro football teams.


I would like to see where that money actually goes.
I'd wager a 5 spot that it goes directly back into "The Program" and very little of it benefits the academic facilities.
However I would guess that having a bowl winning team helps to increase popularity amoung non athletic students.

Go Spartans!
2014-01-22 10:41:39 AM
1 votes:

GodComplex: Fano: And is there any reason the cost keeps skyrocketing? at UVa I could say that the pharoahs of old had nothing on college presidents, always building something new whether it was needed or not.

If you can charge whatever you want for something and someone will still buy it, then you're going to charge whatever you can until people stop buying it. They have zero incentive to lower their prices as long as there is a profit. Supply and demand is a biatch.


It's even worse than that.  Because of the structure of our financing system (loans and grants), the upfront cost for students is often zero, meaning that they're not making decisions based on price.  Take and 18-year-old with no sense of personal finance (which is basically every 18-year-old) and offer them a choice between a college offering dorm living, a central cafeteria, and a 30-year-old gym or a college offering student apartments, eating options (caf or restaurants) in every apartment building, and a brand new gym.  Which do you think they'll choose?  The nice one, obviously, and they won't even notice or care that it will cost $2,000/semester more than the other school.

In other words, because of the financing structure, colleges are actually incentivized to spend MORE money on amenities, increasing the cost without increasing the value of the education.
2014-01-22 10:39:54 AM
1 votes:
"Why not both?"

littlegreenfootballs.com
2014-01-22 10:31:31 AM
1 votes:
Link

About 48 percent of employed U.S. college graduates are in jobs that the Bureau of Labor Statistics (BLS) suggests requires less than a four-year college education.Eleven percent of employed college graduates are in occupations requiring more than a high-school diploma but less than a bachelor's, and 37 percent are in occupations requiring no more than a high-school diploma;

The proportion of overeducated workers in occupations appears to have grown substantially; in 1970, fewer than one percent of taxi drivers and two percent of firefighters had college degrees, while now more than 15 percent do in both jobs;

About five million college graduates are in jobs the BLS says require less than a high-school education;
Comparing average college and high-school earnings is highly misleading as a guide for vocational success, given high college-dropout rates and the fact that overproduction of college graduates lowers recent graduate earnings relative to those graduating earlier;

Not all colleges are equal: Typical graduates of elite private schools make more than graduates of flagship state universities, but those graduates do much better than those attending relatively non-selective institutions;

Not all majors are equal: Engineering and economics graduates, for example, typically earn almost double what social work and education graduates receive by mid-career;

Past and projected future growth in college enrollments and the number of graduates exceeds the actual or projected growth in high-skilled jobs, explaining the development of the underemployment problem and its probable worsening in future years;

Rising college costs and perceived declines in economic benefits may well lead to declining enrollments and market share for traditional schools and the development of new methods of certifying occupation competence.
2014-01-22 10:31:11 AM
1 votes:

Astorix: This is why kids saddled with debt have to take whatever job they can get, leading to situations akin to indentured servitude.


You say that like it's a bad thing.

Loading up our young people with crushing debt is good for corporate profits, which is good for America.
2014-01-22 10:21:57 AM
1 votes:
lennavan: "States fixing their budgets by giving less and less tax dollars to the Universities."

So... their budget problems go back to at least 1988 and were uncorrelated to economic conditions?
I think you'd have a hard time showing that the delta between current and historical funding levels even roughly matches the delta between current and his historical tuitions.

/ http://money.cnn.com/2011/06/13/news/economy/college_tuition_middle_cl ass/
2014-01-22 10:18:32 AM
1 votes:
Actually he said something far less sensible. He said that he's troubled that the average student paying in-state tuition at a state university pays more than does a student attending Yale.

Tuition, room, board and expenses at Yale:
$58,600

57% of students receive financial aid, with an average value of $35,500.
(0.43*58,600)+(0.57*23,100)=38,400

so the average Yalie pays $38,400 to go to Yale, after financial aid is reflected.
http://admissions.yale.edu/faq/what-current-tuition-yale

Tuition, room, board and expenses at University of Missouri:
$22,800
http://admissions.missouri.edu/costs-and-aid/costs/index.php
and that's before taking financial aid into account.

I don't think he needs to trouble himself...
2014-01-22 10:15:46 AM
1 votes:

Fano: And is there any reason the cost keeps skyrocketing? at UVa I could say that the pharoahs of old had nothing on college presidents, always building something new whether it was needed or not.


If you can charge whatever you want for something and someone will still buy it, then you're going to charge whatever you can until people stop buying it. They have zero incentive to lower their prices as long as there is a profit. Supply and demand is a biatch.
2014-01-22 10:11:54 AM
1 votes:

Fano: And is there any reason the cost keeps skyrocketing? at UVa I could say that the pharoahs of old had nothing on college presidents, always building something new whether it was needed or not.


The only way to gain exclusivity is to continually raise prices.  The only way to justify raising prices is to have exclusivity.
2014-01-22 10:07:56 AM
1 votes:
$200 grand for something worth $5.34 in overdue books fees at the library
 
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