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Crazy Business School Tuition

xeemzor

Platinum Member
It seems that tuition costs are getting downright silly. A quick glance at Northwestern's website shows that it's about $56K/year for an MBA and $74K/year for a JD/MBA. Other programs from Columbia, UPenn, etc appear relatively similar. And this is just tuition! How do people afford these degrees nowadays? Are they really justified when you graduate with $150k+ of debt?

I've been considering going back to school but I'm not sure it's worth the high cost.
 
The whole point of the system is to get you into debt. Then you belong to them, you're a slave.

At first it was signing a 30 year mortgage in your late 20's, early 30's.

Now they get you on the leash before you even step foot into the real world and land your first job.

Of course costs are getting out of control, the government gives out loans to kids who willingly accept them without thinking of the consequences because the entire K-12 system is setup around "if you don't go to college you are going to be a loser" mentality.

Education was become another big business scam in many ways (not all).
 
I think that if you go in debt for a couple hundred thousand dollars to get a business degree, you didn't pay enough attention in your economics classes...

I DO agree that kids are told they HAVE to go to college if they don't want to end up on skid row and sleep in cardboard boxes...and they're NOT properly prepared for life...or college when they get to that age.
MANY young people just aren't cut out to go to college or for the office jobs that college prepares them for. Many should be encouraged to go to a trade school...BUT, with a lot of that kind of work being sent overseas...there are fewer and fewer "unskilled/semi-skilled labor" jobs to go around. Plus, with the economy still in the shitter and not getting better anytime soon, lots of places either have shut down, or just aren't hiring...and wages in some industries are declining because of the glut of manpower.
 
That's insane! Luckily, I used a lot of gov't grants (we're poor bastards) and only took out 12K in loans. Paid them off in a year.
 
For Northwestern and other top MBA schools (top 5), the tuition is alright. It's just 2 years and you will most likely get an offer for $100k+ right out of school. If you have great work experience (which you most likely will have if you can get into NW), you can get more than $100k easy.
 
Whether it's worth it is kind of up to you to decide...what your goals are and what your undergraduate degree is in.

Include in that cost estimate not only the ~$110K for two years of school but also the opportunity cost of the two years' salary you would have earned at your current job.
 
easiest answer is to take opportunities at your employer. i worked for the university that i got my mba from. tuition was roughly 20k a year when i went but with employee subsidies i paid roughly $3.75k a year for it. did take me 4.5 years to finish though. payback was complete in under 2 years and now i'm not even using it anymore 😛 might use in future since this sort of education does not expire or require CE credits.
 
The whole point of the system is to get you into debt. Then you belong to them, you're a slave.

At first it was signing a 30 year mortgage in your late 20's, early 30's.

Now they get you on the leash before you even step foot into the real world and land your first job.

Of course costs are getting out of control, the government gives out loans to kids who willingly accept them without thinking of the consequences because the entire K-12 system is setup around "if you don't go to college you are going to be a loser" mentality.

Education was become another big business scam in many ways (not all).

Good post
 
easiest answer is to take opportunities at your employer. i worked for the university that i got my mba from. tuition was roughly 20k a year when i went but with employee subsidies i paid roughly $3.75k a year for it. did take me 4.5 years to finish though. payback was complete in under 2 years and now i'm not even using it anymore 😛 might use in future since this sort of education does not expire or require CE credits.

Sadly, my employer doesn't offer any tuition reimbursement. It would be all out of pocket.
 
With the rising cost of tuition, I've been thinking of possible solutions. I'm not a supporter of a taxpayer funded system with "free" post secondary education. I don't think we can afford it. People bring up European countries offering it. Those same countries are deeply indebted if not on the verge of bankruptcy. Plus, the quality of education in public system is a disgrace. Breeds mediocrity, bureaucracy, and a one size fits all system that doesn't work.

But what are the alternatives? I really like the Khan Acadamy's approach. A lot of courses could be done this way at the college level, for a lot less money. Universities become places of tutoring and labs and lectures are eliminated in current form.

I do think we need to reevaluate the value of college. I heard the spiel growing up. If you don't go to university, you're doomed to flipping burgers for the rest of your life. The problem is that too many are entering universities and there's next to no demand for a lot of degrees. The universities only make token efforts to help kids find careers after they graduate. You have a whole cohort of kids going unarmed into the real world. Nobody told them how to get a job. They were told a job would just land in their lap. They were told to expect it, and they were failures if it didn't. I graduated university in 2008 and just got my first paid career job this year. I went to community college and did a lot of volunteer work in between to get marketable skills. Nobody helped me. In short, I don't think universities are adequately preparing kids for life. They're just paper factories printing money.
 
The one thing I find unfair is that school loans can never be forgiven through bankruptcy. The ONLY thing that can't. LOL.

You'll have to move to another country if you want to forgo paying your school loans.

If you go to an Ivy/Ivyesque program, get good grades....you'll land a good job and pay it off in a few years time, if you live like a pauper and really pay down that shit like I did when I did my Ivy MBA.


BTW....doing a JD/MBA is overkill. You'll either do law and get paid X amount or the MBA and get paid X amount. If you think you'll get 50% more just because you have a JD/MBA instead of one or the other, you're dreaming. You'll be tagged as overeducated and with more loans to boot. LOL! It would be foolish to pursue both degrees.
 
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With the rising cost of tuition, I've been thinking of possible solutions. I'm not a supporter of a taxpayer funded system with "free" post secondary education. I don't think we can afford it. People bring up European countries offering it. Those same countries are deeply indebted if not on the verge of bankruptcy. Plus, the quality of education in public system is a disgrace. Breeds mediocrity, bureaucracy, and a one size fits all system that doesn't work.

But what are the alternatives? I really like the Khan Acadamy's approach. A lot of courses could be done this way at the college level, for a lot less money. Universities become places of tutoring and labs and lectures are eliminated in current form.

I do think we need to reevaluate the value of college. I heard the spiel growing up. If you don't go to university, you're doomed to flipping burgers for the rest of your life. The problem is that too many are entering universities and there's next to no demand for a lot of degrees. The universities only make token efforts to help kids find careers after they graduate. You have a whole cohort of kids going unarmed into the real world. Nobody told them how to get a job. They were told a job would just land in their lap. They were told to expect it, and they were failures if it didn't. I graduated university in 2008 and just got my first paid career job this year. I went to community college and did a lot of volunteer work in between to get marketable skills. Nobody helped me. In short, I don't think universities are adequately preparing kids for life. They're just paper factories printing money.

The paper you get from college is bullshit. I've seen too many papered idiots to care about the letters they have after their names. There's no reason college can't be largely replaced with free(both libre and gratis) course work and materials. People need to value knowledge more, and not the stupid decorations that go with institutional participation.
 
Add fees, rent, food, etc etc and you get to around 100k per year of school.

I'm signing myself up for 200k of debt this fall...
 
The one thing I find unfair is that school loans can never be forgiven through bankruptcy. The ONLY thing that can't. LOL.

You'll have to move to another country if you want to forgo paying your school loans.

If you go to an Ivy/Ivyesque program, get good grades....you'll land a good job and pay it off in a few years time, if you live like a pauper and really pay down that shit like I did when I did my Ivy MBA.


BTW....doing a JD/MBA is overkill. You'll either do law and get paid X amount or the MBA and get paid X amount. If you think you'll get 50% more just because you have a JD/MBA instead of one or the other, you're dreaming. You'll be tagged as overeducated and with more loans to boot. LOL! It would be foolish to pursue both degrees.

Normally I'd agree with you with the exception of a few really good 3 year programs(Northwestern, Wharton, Columbia). You have a greater chance of getting into MBB from the jd/mba program, finish in the same amount of time as a normal jd, and can do recruiting from both sides. From what I have seen at Northwestern the program is much more established and mature to employers than it used to be.

However, I also have a (stupid) personal aspiration to be a lawyer that I would pay ~$60k for while I'm getting my mba. Asking ~$114K extra is probably too much though.
 
People also need to realize that due to the fact that EVERYONE and their mother is going to college these days.....the value of the degree decreases.

It used to be for those that were good enough, now it's for everyone.

So what you end up with is HIGH cost of education and degrees that are not worth much at all.
 
People also need to realize that due to the fact that EVERYONE and their mother is going to college these days.....the value of the degree decreases.

It used to be for those that were good enough, now it's for everyone.

So what you end up with is HIGH cost of education and degrees that are not worth much at all.

This is for a graduate degree from one of the top 5 business schools. VERY different from undergrad.
 
The whole point of a business school is to get connections for your career ladder, so if you do go to one, go to a top tier school. Otherwise, it provides little value, especially for the price. In terms of educational value, you can pretty much learn everything you need to know by subscribing to HBR magazine.
 
That's insane! Luckily, I used a lot of gov't grants (we're poor bastards) and only took out 12K in loans. Paid them off in a year.

You paid off your school loans in ONE YEAR?

How much government assistance do poor people get?
 
The paper you get from college is bullshit. I've seen too many papered idiots to care about the letters they have after their names. There's no reason college can't be largely replaced with free(both libre and gratis) course work and materials. People need to value knowledge more, and not the stupid decorations that go with institutional participation.

this.

Degrees have gotten so watered down it doesn't surprise me when some kid who earned his business chops running a franchise sandwich shop can beat the pants off of some guy who paid $100k for a high profile MBA.
 
The paper you get from college is bullshit. I've seen too many papered idiots to care about the letters they have after their names. There's no reason college can't be largely replaced with free(both libre and gratis) course work and materials. People need to value knowledge more, and not the stupid decorations that go with institutional participation.

Hah... paper

Mine are silk screened onto silver plated sheet steel. It's fucking badass to have a metallurgy degree made out of actual metal. I did almost cut my finger when mounting it though...
 
Hah... paper

Mine are silk screened onto silver plated sheet steel. It's fucking badass to have a metallurgy degree made out of actual metal. I did almost cut my finger when mounting it though...

gotta have a little blood on it to make it legit.
 
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