Trillion dollars in student loan debt. Young people can't afford a house, family.

Discussion in 'Economics' started by wilburbear, Sep 7, 2012.

  1. slavduja

    slavduja

    I feel bad for friends south of the border, your tuition fees are through the roof.
    Comparative example:

    University of British Columbia in Vancouver, BC
    Applied Science and Engineering Pay CAD $5,484.00 for tuition per year.
    + $1119.00 for Student Fees= Total CAD$6603
    http://www.students.ubc.ca/coursesreg/tuition-fees-deposits/tuition-fees/

    University of Washington In Seattle area
    Freshman Year
    Tuition & Fees US$12,383
    and NON-State residents pay Tuition & Fees US$29,938.

    That's Disgusting!!


    http://admit.washington.edu/Paying/Cost#freshmen-transfer

    On another note, to my knowledge in Germany post secondary education is "FREE", as long as you get accepted to the University and Faculty you applied to.

    The amount of money US universities are raking in, they better be providing education unparalleled anywhere else.
    Interestingly 1/3 of all Doctorate Workforce in the US were born outside the US. In 2009, for the first time, more students on temporary visas got US engineering doctorates than did native-born students. That year, among all recipients of a doctorate in science or engineering, 4,100 came from China, 2,263 from India and 1,525 from South Korea.
    Large tuition costs have provided US universities with top notch research labs, and have attracted top notch Brains from across the world. Sadly, local population is just not keeping up.Its the same picture here, I would say UBC is 40% Asian.
    http://yaleglobal.yale.edu/content/us-falls-behind-global-race-talent
     
    #71     Jan 31, 2013
  2. Bob111

    Bob111

    like i said-30K per year is NOTHING! pocket change..add housing,food(and it could be that you must reside on campus and pay whatever they charge you) and that 30 K quickly became 60K. couple K for books(and you can't use old ones. no no..not allowed, must buy from college

    and that STATE universoty. now try private
     
    #72     Jan 31, 2013
  3. piezoe

    piezoe

    slavduja, U.S. tuition varies widely depending on a number of factors. Some States have relatively low tuition for in State students at public institutions, while others are quite high. All public institutions are suffering from significant cutbacks in local and State subsidies in the face of significant inflation. Real inflation, not the official government figure, has been running between 5 and 6 percent a year.

    A few decades ago an undergraduate student at a public institution paid about 1/3 of the cost of their education through tuition and the remainder (2/3rds) was subsidized via taxes. Today that ratio has nearly inverted in many States, so that now the taxpayer is paying closer to 1/3. But public colleges and universities have not been able to raise tuition enough to fully compensate for inflation combined with reduced subsidies . In fact, they have raised tuition, on average, just barely enough to keep pace with only inflation, all the while seeing their tax payer subsidies reduced. This is causing a serious crisis for some institutions.

    You might wonder why you read so much in the press about "skyrocketing" college tuition. In fact, if you use the much lower official government inflation numbers then it does appear as though tuition has "skyrocketed" compared to inflation. So whether tuition has "skyrocketed" or not depends on what specific measure of inflation you use.

    Combine the financial difficulties of some of our public educational institutions with the declining real wages and salaries in the middle class and it is no wonder both U.S. educational institutions and families with college age sons and daughters are hurting.
     
    #73     Jan 31, 2013

  4. We're "eating the seed corn".

    Preying on young people today - the debt burden, and lower living standards will be paid for "tomorrow". That's exactly the kind of situation America loves to profit from.

    There IS a relatively new remedy for government abuses.

    HACK and LEAK all government documents describing illegal activity. Because of the internet, ANONYMOUS leaking has never been easier.

    This week a U.S. Senator (Menendez) is being raked over the coals of hell, probably by a SINGLE individual. This individual has anonymously leaked to the internet his emails with the FBI, and the national media (ABC), laying out Menendez's activities with 15 year old (child!) prostitutes, and even the prostitute's statements, names and home phone numbers! NOBODY CAN STOP IT!
     
    #74     Jan 31, 2013
  5. Bob111

    Bob111

    make it short-wtf is your point anyway? 60K a year is ok? is it "justified"?
     
    #75     Jan 31, 2013
  6. A few years ago I read the story of WikiLeaks founder Julian Assange. I was undecided if this is a good idea. I understand that certain levels of gov't need to operate on a different plane.

    But man, it seems like cockroaches are everywhere. People who get caught and should step down, tell everyone to go to hell, "make me". Wtf is that?

    Media isn't investigating anything, and what little they do, it a lopsided affair.

    Hackers, ANONYMOUS, wikileaks ....isn't likely to make matters worse. everything is snafu'd.
     
    #76     Jan 31, 2013
  7. piezoe

    piezoe

    Bob. Three points Bob.

    1. It is wrong to assume non-profit colleges and universities, on average, are rolling in money. The reality is they are just barely getting by.

    2. You don't have to pay 60K/yr. You have choices. Go somewhere else where tuition is lower.

    3. At the private schools only the rich kids, pay 60K. Everyone else has gets tuition relief in various amounts. It's need based.
     
    #77     Jan 31, 2013
  8. the1

    the1

    Precisely. I'm baffled why students insist on going to St. ABC Private University and pay 60k per year when they could go to XYZ State and get the <b>exact same</b> education. Naturally, if the private school were Ivy League then that's a different story. Some schools are obviously better than others and worth the 60k but that is the exception, not the rule.

     
    #78     Jan 31, 2013
  9. Bob111

    Bob111

    #2 -That's what i do,but still..you will end up with 30K min. keep in mind that if you want to be a doctor or any other top paying degree that required significant amount of education(not typical 4 year)-forget about community college..their programms just too weak..you don't have many choices.
    #3-if you are saver(like i'm)-forget about ANY relief. PERIOD.
    are seriously going to fill up FAFSA and hope that you going to get something, if you have dunno..500K..1M on your accounts?
    get real..and like i said-keep in mind that "they" don't give a f** if it your savings for a rainy day..you will be considered as RICH! enemy of the state at current times. no help for you!

    http://www.youtube.com/results?sear....0.188.866.9j1.10.0...0.0...1ac.1.X800A9aWm9w
     
    #79     Jan 31, 2013
  10. Bob111

    Bob111

    just today-neighbor stops by : hey..i bought a new Mercedes! well ..great! i'm riding on 2000 Nissan altima..and paying same amount for the college as your new Mercedes! and i do this every f** year..feels great :p

    my point is simple-the whole system in US( as for now) is designed to keep you discouraging from to do anything. let's be honest-being poor is much less hassle today than being rich. it's f** cool to be poor. no worries,no taxes, no lawsuits...you are free! f** great! just ask your gvt..it will take care of you..no worries..everything is under control..
    you know what..i've been there and the ending of it ain't pretty..sad to see that US is becoming USSR at very f** fast pace
     
    #80     Jan 31, 2013