Colleges are so expensive because the general populust

[NoTine42]

federal school loans is the main source of the ridiculous cost of tuition.

+1
The colleges get their money from the Feds when you enroll in classes, they don't care if it makes financial sense for the student.

And, way too many people choosing a college have the same mindset as bridezillas choosing a wedding venue. (All choices made on emotion instead of common sense)

 

[rednas]

+1


And, way too many people choosing a college have the same mindset as bridezillas choosing a wedding venue. (All choices made on emotion instead of common sense)

THIS!!!! too many people attend the best (most expensive) college they get accepted to regardless of the cost with the mindset that they can finance the total cost and pay for it when they get some awesome 6 figure jobs straight out of college awe. Personally, I chose the closest state school to where I was living, even though I was accepted to other better schools, because I knew that finances were the main reason people did not finish college. I knew that by reducing the cost of attending college I would increase the likely hood that I would graduate. I knew that my mom would not be able to help me at all so I had to plan for college knowing I would not have someone to help me if I got into a bind. It ended up being an extremely smart decision in my case.

 

[purbeast0]

My brother works for the Post Office. He's a mail carrier. He's been with them for 16 years.

He makes $29 an hour.
Medical/Dental
401k that is matched evenly
Overtime in the summer

He makes nearly $65k a year.

Not bad for someone who didn't attend college or even a trade school.

personally i'd be pretty disappointed with my life if i had 16 years in any industry and was only making $65k.

 

[OutHouse]

THIS!!!! too many people attend the best (most expensive) college they get accepted to regardless of the cost with the mindset that they can finance the total cost and pay for it when they get some awesome 6 figure jobs straight out of college awe. Personally, I chose the closest state school to where I was living, even though I was accepted to other better schools, because I knew that finances were the main reason people did not finish college. I knew that by reducing the cost of attending college I would increase the likely hood that I would graduate. I knew that my mom would not be able to help me at all so I had to plan for college knowing I would not have someone to help me if I got into a bind. It ended up being an extremely smart decision in my case.

wish more kids in our country had your mindset. good job.

 

[Puppies04]

Can we stop for a minute and talk about the word populust?

 

[OutHouse]

Can we stop for a minute and talk about the word populust?

pop·u·list
ˈpäpyələst/Submit
noun
noun: populist; plural noun: populists
1.a member or adherent of a political party seeking to represent the interests of ordinary people. a person who holds, or who is concerned with, the views of ordinary people.
a member of the Populist Party,

a US political party formed in 1891 that advocated the interests of labor and farmers, free coinage of silver, a graduated income tax, and government control of monopolies.

noun: Populist
adjective
adjective: populist
1.of or relating to a populist or populists. "a populist leader"

 

[BoomerD]

pop·u·list
ˈpäpyələst/Submit
noun
noun: populist; plural noun: populists
1.a member or adherent of a political party seeking to represent the interests of ordinary people. a person who holds, or who is concerned with, the views of ordinary people.
a member of the Populist Party,

a US political party formed in 1891 that advocated the interests of labor and farmers, free coinage of silver, a graduated income tax, and government control of monopolies.

noun: Populist
adjective
adjective: populist
1.of or relating to a populist or populists. "a populist leader"

I wish the Populist Party was still around...

 

[MrSquished]

We live in New Jersey. I think USPS pay is uniform all over the country. I could be wrong, but I don't think so. $29 an hour might not sound like much in NJ, but imagine if you made that instate like Mississippi?

:awe:

yah. big difference. i am in NJ as well. random thing, i am really trying to find a good home for a male cat who is super friendly and has no behavioral problems. just in case you know anyone.

 

[OverVolt]

Its hard to get good figures, but a CNN Money Infographic was saying 68% percent of millennials attended college, which I assumed, wrongly, that we would have more degrees than Generation X, as 35% of them have a bachelors.

Turns out that even though 68% went to college, the number of people who actually got a degree was in the 20%-30% range. Making the dropout rate in excess of 50% of the college attending cohort.

I feel like this is true. Everyone is switching majors in desperation as they learn there is nothing to do with psychology so they must do a math degree, but they were never that good at math, and it'll either take them 6 years or they drop out etc. Then once some people do poorly in math they just keep taking classes to put the loans in forbearance. Others, sticking with what they were good at, end up going for a masters even though they never planned to do so.

IDN the whole thing is a disaster.

 

[AznAnarchy99]

If I had known more so how important college is, I would have worked harder.

It sets the basis in theories for you to build the rest of your career on. Your career will be applying the ideas that you learned in new ways.

Your GPA from college matters a lot for that first job.

And those college internships and research experiences shape your future career as well.

I just viewed it as that thing you spend 4 years doing because society mandates it, but it actually is a really important developmental time, and one of the few times you have to be surrounded by a peer group of similar age who are excited over knowledge.

I fucked up by not interning.

 

[JManInPhoenix]

THIS!!!! too many people attend the best (most expensive) college they get accepted to regardless of the cost with the mindset that they can finance the total cost and pay for it when they get some awesome 6 figure jobs straight out of college awe. Personally, I chose the closest state school to where I was living, even though I was accepted to other better schools, because I knew that finances were the main reason people did not finish college. I knew that by reducing the cost of attending college I would increase the likely hood that I would graduate. I knew that my mom would not be able to help me at all so I had to plan for college knowing I would not have someone to help me if I got into a bind. It ended up being an extremely smart decision in my case.

Well Done :thumbsup:

 

[Miramonti]

Schools are raping the government and it's guaranteed-student-loan system as much as the students who apply for them. Tuition levels have soared simply because schools' raising prices hasn't lowered attendance, which only encourages more systematic raping.

 

[lxskllr]

Schools are raping the government and it's guaranteed-student-loan system as much as the students who apply for them. Tuition levels have soared simply because schools' raising prices hasn't lowered attendance, which only encourages more systematic raping.

I heard on the radio a few days ago that a lot of schools keep the tuition high to feed the "You get what you pay for" mentality. IOW, people feel like they're getting more when they pay more.

 

[IEC]

my daughter is a HS junior and very smart. she got a invite to attend a presentation by Duke University. We went to it, listened to their recruitment spiel and when they said tuition was $63,000.00 per year I could barely contain my laughter.

what was sickening was that they brought in a panel of Duke Alums that work/live in Denver. these people they had speak about how "great" the Duke experience was, now work as Teachers, Marketing, and i think one lady was a unemployed. So they spent over a quarter of a million bucks for a degree to be a elementary school teacher? WTF! how in the holy hell are they going to pay that loan back? but i guess its all about the Duke experience, to hell with the cost, money does not matter....

bleh.

The hell?

When I was in undergrad at Duke it was in the 30s.

Never mind, looks like that's the "estimated total cost of attendance":
http://admissions.duke.edu/education/value

Still 45.6k just for tuition. Ouch.

Edit:
It still might be worth it depending on future professional plans and how smart and hard working your daughter really is. Though I'd be inclined to say that a good state school at a fraction of the cost might be the better value.

 

[LegendKiller]

Schools are raping the government and it's guaranteed-student-loan system as much as the students who apply for them. Tuition levels have soared simply because schools' raising prices hasn't lowered attendance, which only encourages more systematic raping.

The schools aren't raping the government, the government is raping the taxpayers and the students.

The schools could be shut off quite easily but instead the populists, which is every politician in the government, wants to promote education for all. Furthermore, they will allow students to lever up to infinity and only cut down the payment with 100% forgiveness in 20 years, creating a 2-decade debt slave.

The government is losing money hand over fist on this. They say they are making a profit because they fund risky student loans at risk-free rates, making it appear that 100% of their excess spread (income - costs) is profit. This is moronic accounting.

Default rates on student loans are running 17%+ for most cohorts, 30%+ for some. 22%+ delinquency and loans on the back-end of a cohort are 30-40% in forbearance or deferment.

This is a massive problem and it isn't 100% the fault of the schools. I spend a significant amount of my professional time looking into this problem and it really bothers me.

I personally put a huge portion of the blame on the parents for enabling such ridiculous borrowing.

If I were a parent co-signing a loan the first thing I would do is float my child for 24 payments, build up his/her credit, and then drop the co-signing. Yes, you can do this, Sallie hides it quite well, but it is there.

They make it a huge selling point that co-signers make it difficult for a loss to occur on the loan. When I brought this up to Sallie they said they don't track how many borrowers remove the co-sign. Non-cosigned loans default at 50-100% greater propensity. Hell, the banker they had at the table didn't even know you could do that.

 

[BoomerD]

College and University was a waste for me... I would of preferred work experience.

English must have been a special waste for you...


WOULD HAVE, not WOULD OF.

/grammar nazi