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Manhattan Buckeye
Posts: 7,566
Nov 16, 2010 10:56am
http://taxprof.typepad.com/taxprof_blog/2010/11/100-colleges.html
This is ridiculous, for people with young children (say, 5 years old or younger), how do you plan on funding college? For people with older children, are you going to accept these exorbitant rates or seek out cheaper alternatives?
This is just crazy, I went to one of the most "expensive" colleges in the nation a decade ago with the jaw-dropping tuition of about $21,000. The stock market has been mostly net stagnant since that time. Real wages haven't increased by much, yet higher education costs not only outpace inflation, its outpacing it at the rate of Speedy Gonzalez vs. Slow Poke Rodriguez.
This is ridiculous, for people with young children (say, 5 years old or younger), how do you plan on funding college? For people with older children, are you going to accept these exorbitant rates or seek out cheaper alternatives?
This is just crazy, I went to one of the most "expensive" colleges in the nation a decade ago with the jaw-dropping tuition of about $21,000. The stock market has been mostly net stagnant since that time. Real wages haven't increased by much, yet higher education costs not only outpace inflation, its outpacing it at the rate of Speedy Gonzalez vs. Slow Poke Rodriguez.
CenterBHSFan
Posts: 6,115
Nov 16, 2010 11:00am
Manhattan Buckeye;560613 wrote:http://taxprof.typepad.com/taxprof_blog/2010/11/100-colleges.html
This is ridiculous, for people with young children (say, 5 years old or younger), how do you plan on funding college? For people with older children, are you going to accept these exorbitant rates or seek out cheaper alternatives?
Simple. Teach your kids the value of saving money and budgeting and hard work. If they want to go to college, they'll have the building block knowledge on how to pay for it.
Fab4Runner
Posts: 6,196
Nov 16, 2010 1:48pm
I will not be paying for my kids to go to college. My parents didn't pay for any of us (7 kids total) and we knew from a young age that we needed to work hard, get scholarships and/or save. If my children do everything they can and still fall a bit short I will consider helping them and they will know the deal like we did.
Thread Bomber
Posts: 1,851
Nov 16, 2010 1:49pm
I don't have a problem paying for my kid to go to college. I DO have a problem paying other peoples kids way through college because they chose to put themselves in a financial bind by popping out 5 babies and supporting "diversity" programs.
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fan_from_texas
Posts: 2,693
Nov 16, 2010 1:52pm
CenterBHSFan;560620 wrote:Simple. Teach your kids the value of saving money and budgeting and hard work. If they want to go to college, they'll have the building block knowledge on how to pay for it.
There's an order of magnitude problem with this. All told, my schooling cost about $300,000. It doesn't matter how much you save as a kid or how hard you work in your summer jobs or how well you budget, there's no way for a kid to pay that much for their education. 20 years ago, people could make it by with minimal loans if they did all the right things. At this point, even at many state schools, that's becoming an impossibility.
To the OP: we figure that to cover undergrad alone,, we need to save/invest about $500/mo. per child. Since we're still paying off my loans (and will be for awhile yet), we probably won't contribute to the C-Monster's college fund for 2-3 years . . . at which point we'll have to chip in $1,000/mo. or so from there on out. Unbelievable.
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Con_Alma
Posts: 12,198
Nov 16, 2010 1:54pm
Fab4Runner;560880 wrote:I will not be paying for my kids to go to college. My parents didn't pay for any of us (7 kids total) and we knew from a young age that we needed to work hard, get scholarships and/or save. If my children do everything they can and still fall a bit short I will consider helping them and they will know the deal like we did.
Yep, this was me also. I worked as an apprentice meat cutter and paid my way through school.
I can't say I won't be paying for my kids to go to college but they will not know that. They know what we have spent on their primary education and it's not a small amount. They will expect and prepare to fund the college expenses.
j_crazy
Posts: 8,372
Nov 16, 2010 2:20pm
part of me says, OMFG no way i'm going to pay for that again.
part of me says, I cannot let my daughter get eaten alive by student loans.
I make more than enough money that i won't struggle to pay for college. i'll likely do it. but prices have to stop somewhere or I'm srsly fucked.
part of me says, I cannot let my daughter get eaten alive by student loans.
I make more than enough money that i won't struggle to pay for college. i'll likely do it. but prices have to stop somewhere or I'm srsly fucked.
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MontyBrunswick
Nov 16, 2010 2:21pm
Solution: don't have kids
thedynasty1998
Posts: 6,844
Nov 16, 2010 2:23pm
Hopefully I have boys and they are blessed in the sense that I was an get scholarships.
Websurfinbird
Posts: 656
Nov 16, 2010 2:37pm
It's a very nice thought to think that your children will be able to get scholarships and make enough money to fund their own education. However, many schools are reducing or even eliminating such scholarships. NYU (one of the priciest schools in the country), at least according to my sister who works there, no longer provides merit scholarships. And even those who do give them out, don't usually award that much. So that leaves financial scholarships, which unless you are practically destitute, you won't get much either. Of course there are other scholarships, but again, it seems like money for that is dwindling.
j_crazy
Posts: 8,372
Nov 16, 2010 2:44pm
i went out and did research projects and other outstide of class things that got me ~15K towards my tuition. factor in i didn't live on campus and got some scholarships (albeit not much, like 30k) for being from a poor family and having good grades and i did okay.
walked out of Marietta College owing a little under 30k. hopefully my kids have the same mindset, i knew my parents couldn't do shit for me. it hurt them more than it did me.
walked out of Marietta College owing a little under 30k. hopefully my kids have the same mindset, i knew my parents couldn't do shit for me. it hurt them more than it did me.
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MontyBrunswick
Nov 16, 2010 2:52pm
j_crazy;560980 wrote:walked out of Marietta College
I lost all pity for you when I read that line. You could have gone to a public school and walked away with way less debt.
darbypitcher22
Posts: 8,000
Nov 16, 2010 2:55pm
I just did a speech on this, the numbers are absolutely astounding...
but on the other hand, the cost of not going to college, at least according to what I read from the college board, is much higher.
According to some numbers (I'm sure they've adjusted since then) from 2008, the average college grad made $22,000 more a year than the non grad, and unemployment among these folks was 3% less.
but on the other hand, the cost of not going to college, at least according to what I read from the college board, is much higher.
According to some numbers (I'm sure they've adjusted since then) from 2008, the average college grad made $22,000 more a year than the non grad, and unemployment among these folks was 3% less.
Cleveland Buck
Posts: 5,126
Nov 16, 2010 3:09pm
When the federal government increases grants, scholarships, guaranteed loans, and handouts directed to the education industry, of course prices are going to skyrocket. Why wouldn't colleges charge more for tuition when the government is footing the bill for many people?
j_crazy
Posts: 8,372
Nov 16, 2010 3:13pm
dlazz;561001 wrote:I lost all pity for you when I read that line. You could have gone to a public school and walked away with way less debt.
not with my degree. Petroleum Engineering.
justincredible
Posts: 32,056
Nov 16, 2010 3:32pm
j_crazy;561062 wrote:not with my degree. Petroleum Engineering.
Yeah, and the fact you were able to live at home so you didn't pay room and board. You'd have been much further in the hole than $30k if you would've went to a public school to get a Petro degree.
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MontyBrunswick
Nov 16, 2010 3:35pm
j_crazy;561062 wrote:not with my degree. Petroleum Engineering.
Touche.
I'm tempted to say Akron offers it, but i'm too lazy to check.
TBone14
Posts: 6,383
Nov 16, 2010 3:37pm
If you have a girl and she can break 80 there is a program that will give her a golf scholarship, if she can consistently hit 75 she can play at a very solid Big 10/ PAC 10 school. Moral of the story, teach your kids how to hit irons and wedges as soon as they can walk.
FatHobbit
Posts: 8,651
Nov 16, 2010 3:39pm
TBone14;561113 wrote:If you have a girl and she can break 80 there is a program that will give her a golf scholarship, if she can consistently hit 75 she can play at a very solid Big 10/ PAC 10 school. Moral of the story, teach your kids how to hit irons and wedges as soon as they can walk.
My ex boss was pushing her girls to golf because that's how she planned on them paying for college. Lol I hope that works out for her.
Fab4Runner
Posts: 6,196
Nov 16, 2010 3:46pm
I am putting my kids in every sport imaginable when they are young and whatever they show the most promise in wins, lol.
justincredible
Posts: 32,056
Nov 16, 2010 3:47pm
dlazz;561106 wrote:Touche.
I'm tempted to say Akron offers it, but i'm too lazy to check.
They do not.
Marietta is the only school in the state that offers it.
Apple
Posts: 2,620
Nov 16, 2010 3:51pm
My kids aren't getting any financing from me. Their great grandmother saved some for their college. Daughter is going to a community college and plans to transfer to 4-year undergraduate school in two years and she's saving a ton of money on the cost of education.
thedynasty1998
Posts: 6,844
Nov 16, 2010 3:51pm
There are a lot of "non traditional" sports that offer scholarship money for female athletes, because of Title 9. I think D2 volleyball has like 10 full rides for volleyball. I was fortunate enough to get a athletic scholarship and hopefully my kids have the same size that I have.
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Manhattan Buckeye
Posts: 7,566
Nov 16, 2010 3:51pm
"I just did a speech on this, the numbers are absolutely astounding.."
I'm curious to understand the data in your study.
Administration/faculty comps have gone off the chart for our alma maters. The President of our undergrad institution made over a million US$ last year - for what?
I'm curious to understand the data in your study.
Administration/faculty comps have gone off the chart for our alma maters. The President of our undergrad institution made over a million US$ last year - for what?
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MontyBrunswick
Nov 16, 2010 3:52pm
justincredible;561130 wrote:They do not.
Marietta is the only school in the state that offers it.
Well I'll be damned.