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Old 03-21-2014, 10:30 AM   #41
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Love the calls I get from the alumni association to donate to the university ... now that I know the salaries of some of the tenured professors, that's not happening.

My niece graduated from a private high school with a BILLION dollar endowment. Seems to me that thing should be throwing off enough cash to run the school for FREE for EVER. But instead tuition is +30k/year.
^^^^^

Tenured profs too often make big $$ (pay & very generous benefits) while non-tenured & PT faculty are often underpaid. Generally a system of haves-vs-have nots. With current unjustifiably high costs of US higher education & increasingly onerous student debt load, shouldn't these tenured prof's be taking pay CUTS like they would if w#rking for a "real world" megacorp under similar market pressures?
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Old 03-21-2014, 11:24 AM   #42
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. Perhaps if the school sat down with students before taking their $$$ in tuition and explained to them that the job market for a masters in ancient Egyptian pottery translation isn't what it used to be then the student would realize they could not afford to take out a bank loan to pay the school $30,000 a year to study this.
I think a college degree is about more than just getting a job.

That said, colleges should probably advise student that borrowing more than about their first year's expected earnings from the degree is not a good idea. Why don't they do it? Follow the money.
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Old 03-21-2014, 11:39 AM   #43
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I think a college degree is about more than just getting a job.
Sure. It is about football, socializing, weekend parties. All of which the student does on the bank's dime, then uses the social media skills gained in college to try and sway the public into blaming the student loans and the banks for their financial problems.
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Old 03-21-2014, 12:31 PM   #44
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Sure. It is about football, socializing, weekend parties. All of which the student does on the bank's dime, then uses the social media skills gained in college to try and sway the public into blaming the student loans and the banks for their financial problems.
My experience of college life and current college students does not support that much cynicism.
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Old 03-21-2014, 01:31 PM   #45
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Sure. It is about football, socializing, weekend parties. All of which the student does on the bank's dime, then uses the social media skills gained in college to try and sway the public into blaming the student loans and the banks for their financial problems.

Only being 6 years out of college, from what I recall, that isn't an unfair assessment for a large portion of the college population.



Our society is providing more and more positive feedback that personal accountability is unimportant, and instead that there is someone or something else responsible when things arenít rosy.
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Old 03-21-2014, 01:44 PM   #46
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Only being 6 years out of college, from what I recall, that isn't an unfair assessment for a large portion of the college population.

Our society is providing more and more positive feedback that personal accountability is unimportant, and instead that there is someone or something else responsible when things arenít rosy.
Most of the college age people I know attend community college and work hard. Many of them are ex GI's, often the most dedicated students. Tarring a whole group with one brush is just not fair.

That said, I must agree that personal responsibility is lacking in to many people who would rather blame others.

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Old 03-21-2014, 01:57 PM   #47
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In the 4 years my son attended a state university, the tuition nearly doubled. I have no idea why the costs rose so much, as the quality of teaching didn't improve, problems with getting access to required classes increased and desirable classes were more often full. (Aside: how can a lecture class become full? The campus is full of huge buildings with huge auditoriums. Moving a class to a larger room seems like a trivial problem and a lecturer can speak to a crowd of 200 as easily as to a crowd of 100.)

Textbooks are an absurd expense. Some classes required $150 for a single book, then used it very sparingly. The attitude seems to be that costs to the student don't matter since they will just get more loans, and that apparently seems like play money.

I do wonder about technology making inroads in education. Most of the classes could have easily been delivered by video - for free like coursera - and most of the professors involvement otherwise was creating and grading tests, which they were actually not very good at.
Agree with this completely. Tuition just keeps going up and up. With regard to classes being delivered by video - it sure isn't free. My neighbor has two kids off at VA Tech. Both take multiple classes online due to not enough space in regular classrooms. My neighbor is complaining that she is forking over $24K/kid/year and instead of being in a class with a PhD professor working with them, they have online classes. Why is she wasting so much money on tuition and room/board if they can just take online courses?

The whole textbook thing is a racket. My son is in college and while you can now rent textbooks or buy used for less money, there are professors that require course "keys" - these are codes that are required so students can take quizzes and tests online - that are bundled with the new textbook or sold for big $s separately. This essentially eliminates most of the savings one might have in buying a used textbook versus a new one. You have to have a code.
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Old 03-21-2014, 02:03 PM   #48
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The whole textbook thing is a racket. My son is in college and while you can now rent textbooks or buy used for less money, there are professors that require course "keys" - these are codes that are required so students can take quizzes and tests online - that are bundled with the new textbook or sold for big $s separately. This essentially eliminates most of the savings one might have in buying a used textbook versus a new one. You have to have a code.
+1

Who do these guys think they are? The monopolistic cable companies?!?!?

Many years ago I had a business teacher who wrote his own text book. Every few years he would make just enough changes to the book - mostly questions, charts and things that changed paging - so that students had to buy a new copy of his mediocre book. And his previous students had no market to sell his now totally worthless old text book. It is pathetic that school administrations and supposed ethics policies allow this to continue.

There is more and more push back forming on the high cost of college. Look for a shake up especially when the on-line, web generation gets fed-up.
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Old 03-21-2014, 04:16 PM   #49
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There is more and more push back forming on the high cost of college. Look for a shake up especially when the on-line, web generation gets fed-up.
In the meantime my kids are going to get an opportunity to achieve their dreams and I'm going to pay for it because if I don't, they will likely either be stuck in a low paying menial job or be saddled with big loans. So why do I choose to do this? Because I'm their dad. (I guess that makes me a big part of the problem!) By the way, my parents didn't pay for my college. My "Uncle Sam" did.
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Old 03-21-2014, 04:22 PM   #50
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I remember the college bookstore had all these credit card applications.

That's how a lot of students ate out, went on spring breaks, etc.
We have a stuffed animal that once had a credit card.

My daughter filled out an application when she was a senior just to see if the CC company did any checking at all.
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Old 03-21-2014, 04:23 PM   #51
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I) By the way, my parents didn't pay for my college. My "Uncle Sam" did.
A now deceased friend had Uncle Sam pay for his medical schooling to become an M.D. He paid his uncle back by spending four years as a Navy doctor in a 'boomer', under water for weeks at a time. Then two more years as a family doctor on an Indian reservation.
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Old 03-21-2014, 04:31 PM   #52
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Stop for a minute... and consider the banks.

Think... think... think...

If the banks make student loans, or housing loans... and these loans are in default... they are part of the bank assets.

If the bank passed off those bad housing loans to Freddie or Fannie, they are part of your debt.

If history is any predictor of the future, Three hundred billion dollars of the education loan default will end up in more public debt... maybe Eddie and Edie... for the government EDucation bailout trust.

Know that some of us who don't pay taxes, appreciate your forebearance.
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Old 03-21-2014, 05:10 PM   #53
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Know that some of us who don't pay taxes, appreciate your forebearance.
You are certainly welcome. (I would always be willing to help a friend.)
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Old 03-22-2014, 12:03 PM   #54
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I earned my business degree while working full time and leveraged the company tuition aid program. It also helped to cover the cost of books (another scam as mentioned above). I had been working for 10+ years and it took me about six years to earn my degree. However, that time and work experience provided me insight into pursuing a degree that fit my skill and aptitude as well as employability. No debt incurred.
I have several neices and nephews that went straight to university and earned degrees that did not offer decent job prospects but were interesting and relatively easy to earn. One is going to go back to earn a masters degree and rack up more debt. Another has an entry level office job.
Sometimes telling our kids "they can be anything they want to be" may not be the best advice. At 18 or 19 years old - how do you really know what you want to do or be when you grow up?
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Old 03-22-2014, 03:44 PM   #55
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Sometimes telling our kids "they can be anything they want to be" may not be the best advice. At 18 or 19 years old - how do you really know what you want to do or be when you grow up?
+1

It always bugs me to see the Olympic gold medal winner on TV, who just beat million-to-one odds against winning, say something like "This proves your dreams can really come true".

When kids are ten or younger, it's fine to ask "What do you want to be when you grow up?" After that, it's time to switch to "How to you plan to support yourself when you grow up?"
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