Student Loan Debt?

[LD48750]

Just think how much cheaper an education would be if we didn't pay coaches $50M for short term contracts.

 

[Torvy]

Sad truth is these universities need the construct of loans to stay afloat and need to lobby to keep them

$100 a credit hour in a cheaper area to live for 60 hour associate at a community college or pay $3-500. Plus room.and board. To go to a university.

Not remotely true. The vast majority of universities are non-profit and have huge endowments. They are constantly building new stuff because they cannot make a profit they are 'reinvesting' rather than lowering costs. They also have broadened out to have full courses for things that are unnecessary or at best would warrant a free one-time lecture on the mall. They still lament to lawmakers that they need more. Like most bureaucracies, they bloat over time. The trimmings of academia, like tenure and paid sabbatical add to the unnecessary costs. Remember when there were colleges? Now, almost all of them are universities. Bigger, not better.

Rent and groceries around universities are almost always cheaper than living on campus. Many, if not most, require students to live on campus the first year or two. 4 kids, 4 different universities in 2 states. Always cheaper to live off campus. After the required on-campus stint, the only ones that remain in the dorms are RAs and rich foreign students. (And some athletes because they have bigger calorie needs).

 

[two_bit_score]

Just think how much cheaper an education would be if we didn't pay coaches $50M for short term contracts.

Wow, what a can o' worms that could open up.

The "Flutie Effect"? It's when athletic accomplishments increase exposure and, subsequently, enrollment.

Alabama paid Saban $130 million over 16 seasons but Alabama Chancellor Robert Witt has argued "it was the best investment" Alabama ever made.

 

[jyoutz]

It uses both. My 4th kid is in her Sr year at Tech. All 4 kids had this issue. They use net wealth, essentially, to determine how much you can afford, not income.

Tuition rose as a direct result of an uptick in fed/state student loans. More money chasing the same quantity of 'education'. Simple supply and demand stuff. This has zero to do with inflation.

If the government has any interest in paying for education, it is in exchange for service like any other employer. One reason they could get military recruits was for GI Bill. Why bother with the risk and hassle of service if the country will give you a loan and not make you pay it back?

They must have changed the grant application. When my sons were entering college 10 years ago, the application form we filled out only asked for the adjusted income from the previous filing year.

 

[ultrarunner]

They must have changed the grant application. When my sons were entering college 10 years ago, the application form we filled out only asked for the adjusted income from the previous filing year.

Can’t say… all 5 are in University now… 2 Freshman year at UC Davis and 2 soon to be graduating and 1 in the middle.


Of the 5, two have scholarships… one athletic and one both academic and athletic…

The athletic scholarships are rigorous with a huge time commitment and lots of travel…

If one makes it to the Olympics, I will post on TBN.

The irony is in just about any other country in the world she would be Olympic qualified but the US is one of the few where the competition is more than intense!

 

[Torvy]

For most of those bigger schools, the football program pays for itself and the rest of the athletic programs. For some, basketball is similar in that regard.

The schools with the biggest academic scholarships were all big in NCAA sports. 'Bama, OU, Kentucky all offered my kid a full ride (no athlete). Strictly on academics. That money was available because the athletic programs made so much money (and they needed to improve academic results for the school overall).

 

[Torvy]

They must have changed the grant application. When my sons were entering college 10 years ago, the application form we filled out only asked for the adjusted income from the previous filing year.

 

[ultrarunner]

^^

View attachment 847880

Exactly my understanding and most intrusive in every sense…

Surprised they don’t ask grandparents and uncles and aunts?

My brother said the University knows more about his financials than any entity and it’s not optional even being no assistance requested and later granted.

Owning the farm and farm equipment did them in…

 

[Hay Dude]

For most of those bigger schools, the football program pays for itself and the rest of the athletic programs. For some, basketball is similar in that regard.

The schools with the biggest academic scholarships were all big in NCAA sports. 'Bama, OU, Kentucky all offered my kid a full ride (no athlete). Strictly on academics. That money was available because the athletic programs made so much money (and they needed to improve academic results for the school overall).

Few D-1 football teams are profitable. Fewer than you would think.

 

[Mtsoxfan]

Years ago when UCONN was invited to a bowl game in Buffalo, they were given by NCAA(?) millions of $$$. They spent it all and then millions more in that one trip, inviting everyone and their brother who was connected, paying for it all.
It was my belief that sporting teams earn money from the NCAA, and they keep it in sports programs, spending frivolously at times, because they know the university will be supplying more money. There is much less money in academia beyond tuition.