College debts...

[SmallTown]

Another article which talks about funding and such...

http://www.usatoday.com/news/education/2003-08-26-college-cost-side_x.htm

 

[vraiblonde]

Let me remind you, ST, that Maryland has a huge budget deficit. You may think that's George Bush's fault, too, but the fact is that Parris Glendening spent us into the poor farm with social programs and other silliness. If Democrats are so big on higher education, why didn't Glendening float that money toward colleges instead of building MORE slums?

We are a moderate income family. We are managing to send our kid to NYU, to the tune of $44,000 a year. I don't really feel sorry for anyone that can't squeak out less than half that much to send their kid to school.

The "want to" isn't there for these people. They want to sit around and cry that they can't "afford" college, when the fact is they can indeed. They just have to work for it, get scholarships, apply for aid, etc. People do it all the time. Look at most of the people on these forums - they managed to get a college education without having rich parents.

What seems to be the problem?

 

[SmallTown]

Originally posted by vraiblonde

The "want to" isn't there for these people. They want to sit around and cry that they can't "afford" college, when the fact is they can indeed. They just have to work for it, get scholarships, apply for aid, etc. People do it all the time. Look at most of the people on these forums - they managed to get a college education without having rich parents.

What seems to be the problem?

I completely agree, no problem at all. I was only responding to those wondering why tuition keeps going up, so I gave some answers.
To add a little more to what Vrai said, Student Loans are what I consider "Reverse Logic" loans. Normally with loans, you can only borrow a certain amount based on your income (or potential for income). The basic idea being the more money you make (minus expenses) the more you can borrow. Student loans are just the opposite. The less money you earn, the more you can borrow. So I personally don't see why anyone uses finances as a reason for not going to college

 

[vraiblonde]

Originally posted by SmallTown
The less money you earn, the more you can borrow.

That's true - certainly you don't want to borrow so much that you're going to be paying it off for the rest of your life But the money is there.

Another thing is that while tuition is going up, so is the amount of financial aid available. So maybe it costs $20,000 for a year at UMD, but very few students are paying that. In essence, the wealthier students are paying for the lower income students with their full tuitions, their folks' tax bucks AND alumni donations.

So there's some welfare for you.

 

[czygvtwkr]

Actually student loans are based on your class status. I forget what Freshman and Sophomore are but Junior and Seniors when I was (95-97) could borrow $5500 a year and Graduate students could borrow $8000 a year.

Its whether they are subsidized or not that depends on income, the only difference is the subsidized ones has the government pay the interest while you are in school.....not really a lot of difference.

What I dont understand is the difference in cost between different state instituitions. Some states are a ton cheaper than others, I was lucky enough to spend two semesters at different schools with an exchange program, they cost significantly more than my "host school" however I found no difference in the quality of education. Later when I was in graduate school I found some of the research similar to mine from more prestigeous schools was actually inferior.

In my opinion the best educations come from large state schools with a status as a Research 1 instituition. (Big 10, Big East, SEC, Big 12, and ACC schools).

 

[SmallTown]

Originally posted by czygvtwkr
Actually student loans are based on your class status. I forget what Freshman and Sophomore are but Junior and Seniors when I was (95-97) could borrow $5500 a year and Graduate students could borrow $8000 a year.

Those numbers are the max you can borrow for certain loans (such as stafford). Not everyone can get the max.

I was just under the max, and some friends could only get about half that amount.

 

[czygvtwkr]

I think you are refering to the old system, Stafford loans no longer exist.

My best friend in college got the full amount and his dad made over 1/4 million a year but made him pay for college himself due to some trouble he gotten in. His were entirely unsubsidized, I had to show him how to apply for aid....

 

[SmallTown]

Originally posted by czygvtwkr
I think you are refering to the old system, Stafford loans no longer exist.

My best friend in college got the full amount and his dad made over 1/4 million a year but made him pay for college himself due to some trouble he gotten in. His were entirely unsubsidized, I had to show him how to apply for aid....

Stafford loans are part of the federal program and do still exist, in both the subsidized and unsubsidized versions. The unsubsidized are a bit different than subsidized and perhaps don't have the income limitations.
But my sister is currently going through the process and has been introduced to both options by her financial aid office.

There are plenty of other loan programs available as well

 

[czygvtwkr]

Hmmm when I was a junior I got a letter saying "Stafford Loans" are being replaced by "Federal Direct Loans"

Just found out they added the Stafford back in it, guess people just kept calling them Stafford.

Also found out that you can borrow a lot more now that you use to be able to just 10 years ago.

 

[Pete]

I don't see too many colleges shutting the doors or professors driving Ford Escorts. Perhaps they should stop or at least slow the building of Ivy Covered deluxe buildings and cut back on some of the stupid crap. It is what I call the "Movie theater" model of economics, "As long as there is some goober who will pay $6 for .50 worth of popcorn they will keep inching the price up."

Student loans, grants, Army college fund, savings, reduced schedule. If you WANT it you can get it. I got my degree from Southern New Hampshire Univ. Took me several years of night school but I got it. In my classes there was but a smattering of young college aged kids. They were the smart ones. WTF do you have to go to a $$ school when an affordable one is available?

What about the colleges who all of a sudden got the moral epiphany that they didn't want ROTC programs, then squeeled when the fed said OK then, no fed $$.

 

[czygvtwkr]

You may be suprised on what they make.....I got my masters 4 years ago and already make more than an assistant or associate professor, only the full tenured professor makes more.

My research advisor in grad school brought in hundreds of thousands of dollars a year in research grants but gets paid the same as some jerk off philosphy professor that brings no money into the school....... Another sore issue for me

 

[Nickel]

All the more reason to get a fake diploma online through one of the many unsolicited emails at work. They cost, what, 40 bucks?



























I am just kidding, I am not that dumb

 

[SurfaceTension]

Originally posted by Pete
Student loans, grants, Army college fund, savings, reduced schedule. If you WANT it you can get it.

It's supply, demand, and subsidy...Econ 101 folks.

When you subsidize something (loans, grants, reduced tuitions) you artificially deflate the price, which increases demand. If supply remains the same (no massive increase in colleges being constructed), the increase in demand eventually leads to a new, higher price equilibrium.

With all the "massive tuition hikes", have enrollments gone down, or have subsidies gone up? Tuitions will continue to rise so long as the willingness to susbsize the increases continue....And the spiral upward continues. Cut the subsidies, demand goes down (yep, fewer people can "afford" it) and prices come down. Supply, demand, subsidy.

(edited to add
The one "advantage" to the subsidy game is the the subsidizer gets to decide who gets the benifits and who doesn't....A boon to the social engineers/overlords.

 

[vraiblonde]

Guess who was wrong again!

Hint: not me.

 

[jlabsher]

Boo hoo, college loans got you in the poorhouse. Wait until you get to the real world bucko, mortgage, kids, car note, utilities, food, booze, etc. It is called life, you will be in debt forever unless you win the lottery, get used to it.

 

[vraiblonde]

<img src='http://smileys.smileycentral.com/cat/10/10_7_1.gif' border=0></a>

 

[Voter2002]

Originally posted by Spoiled
no child left behind makes him the education man!

NCLB is for elementary and secondary schools - not college!

The No Child Left Behind Act of 2001 (No Child Left Behind) is a landmark in education reform designed to improve student achievement and change the culture of America's schools. President George W. Bush describes this law as the "cornerstone of my administration." Clearly, our children are our future, and, as President Bush has expressed, "Too many of our neediest children are being left behind."

With passage of No Child Left Behind, Congress reauthorized the Elementary and Secondary Education Act (ESEA)--the principal federal law affecting education from kindergarten through high school. In amending ESEA, the new law represents a sweeping overhaul of federal efforts to support elementary and secondary education in the United States. It is built on four common-sense pillars: accountability for results; an emphasis on doing what works based on scientific research; expanded parental options; and expanded local control and flexibility.