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I don’t get why it is more costly for colleges to educate students now vs the 70s/80s
Posted on 4/30/22 at 2:25 pm
Posted on 4/30/22 at 2:25 pm
What changed? Why do we need so many more administrators per capita vs the 20th century?
Is it also due professor salary/lecturer salary increases?
Or is the increase mainly due to all this “free money” loan system giving colleges the incentive to build all sorts of snazzy structures and unnecessary amenities and passing on the cost?
Explain to me why a school like LSU could give a 1970s student a 4 year education/degree at 4 times less the cost as a 2022 student
Is it also due professor salary/lecturer salary increases?
Or is the increase mainly due to all this “free money” loan system giving colleges the incentive to build all sorts of snazzy structures and unnecessary amenities and passing on the cost?
Explain to me why a school like LSU could give a 1970s student a 4 year education/degree at 4 times less the cost as a 2022 student
This post was edited on 4/30/22 at 2:27 pm
42
Posted on 4/30/22 at 2:26 pm to HailHailtoMichigan!
Government backed student loans didn't help although I'm not sure that's the only cause.
Posted on 4/30/22 at 2:27 pm to HailHailtoMichigan!
Colleges realizing there’s no point in turning kids away when you can make bank by accepting as many people as possible especially when “free” money is attached to each one via government backed loans.
Posted on 4/30/22 at 2:29 pm to HailHailtoMichigan!
quote:
I don’t get why it is more costly for colleges to educate students now vs the 70s/80s
What changed? Why do we need so many more administrators per capita vs the 20th century?
Is it also due professor salary/lecturer salary increases?
Or is the increase mainly due to all this “free money” loan system giving colleges the incentive to build all sorts of snazzy structures and unnecessary amenities and passing on the cost?
Explain to me why a school like LSU could give a 1970s student a 4 year education/degree at 4 times less the cost as a 2022 student
#1, you don't understand the difference between price and cost.
Posted on 4/30/22 at 2:34 pm to HailHailtoMichigan!
quote:
Explain to me why a school like LSU could give a 1970s student a 4 year education/degree at 4 times less the cost as a 2022 student
I got a BS in 1976 at a state school. lived on campus all 4 years, total cost for the degree, tuition, room and board, books, everything was $7000, it is way more than 4 times as expensive today.
Posted on 4/30/22 at 2:40 pm to HailHailtoMichigan!
TOPS (Taylor Opportunity Program for Students) and government loans.
Universities do not need to keep their costs down when they are guaranteed government tuition money.
Lazy rivers probably do not help…….
Universities do not need to keep their costs down when they are guaranteed government tuition money.
Lazy rivers probably do not help…….
Posted on 4/30/22 at 2:42 pm to HailHailtoMichigan!
Student loans accessible to everyone. When there is unlimited money supply inflation is a result. Not a lot different than the economy now.
Posted on 4/30/22 at 2:43 pm to HailHailtoMichigan!
Increasing cost of salaries
Increasing cost of technology
Increasing cost of keeping up with comparable universities (buildings and construction)
But you know the worst part? Bloat.
University bureaucracy is far more extensive than it used to be and they just keep expanding. It’s a mirror image of what you see with the US govt at large.
And the real kicker…these are some of the most meaningless jobs that exist in the world today. As well as some of the last people with whom you’d ever want to communicate.
Increasing cost of technology
Increasing cost of keeping up with comparable universities (buildings and construction)
But you know the worst part? Bloat.
University bureaucracy is far more extensive than it used to be and they just keep expanding. It’s a mirror image of what you see with the US govt at large.
And the real kicker…these are some of the most meaningless jobs that exist in the world today. As well as some of the last people with whom you’d ever want to communicate.
Posted on 4/30/22 at 2:46 pm to HailHailtoMichigan!
So you think The cost should be the same as the 1970’s?
Posted on 4/30/22 at 2:46 pm to HailHailtoMichigan!
Supply and Demand!!!
Student loans allowed kids who couldn’t afford college the chance to go. That seat in Humanties 101 just got more expensive with each loan that was given out.
College education should be rare, free, and reserved for the best and brightest in our society. The vast majority should be in trade school or vo-tech.
Student loans allowed kids who couldn’t afford college the chance to go. That seat in Humanties 101 just got more expensive with each loan that was given out.
College education should be rare, free, and reserved for the best and brightest in our society. The vast majority should be in trade school or vo-tech.
This post was edited on 4/30/22 at 2:49 pm
Posted on 4/30/22 at 2:46 pm to HailHailtoMichigan!
Student loans
Posted on 4/30/22 at 2:52 pm to HailHailtoMichigan!
Compare dorms at LSU today to 30-40 years ago.
Posted on 4/30/22 at 2:52 pm to HailHailtoMichigan!
Administrative bloat
Posted on 4/30/22 at 2:53 pm to HailHailtoMichigan!
This didn’t exist back then. Even in the 90’s, half the dorms didn’t have air conditioning
Posted on 4/30/22 at 3:45 pm to HailHailtoMichigan!
quote:
In 2005, the endowment table below totaled $219.37 billion. By 2015, the table totaled $394.96 billion, an increase of 80%. As of 2018, the total further increased to $479.23 billion.
Posted on 4/30/22 at 4:11 pm to HailHailtoMichigan!
ETA: And Ohio State is rather stingy with their DEI budget compared to most major universities.
This post was edited on 4/30/22 at 4:13 pm
Posted on 4/30/22 at 4:37 pm to HailHailtoMichigan!
Besides many of the good answers posted, schools are now trying to compete for being the best resorts, with rock climbing walls, crazy Rec centers, 500 sport programs when only 1-2 subsidize the rest, professors and admins get paid more and more etc.
Posted on 4/30/22 at 5:03 pm to HailHailtoMichigan!
Let's see, the federal government dumped billions of dollars into the college education system with easy to obtain student loans and you're wondering why costs have escalated? Gee, it's a mystery.
Next you'll be asking why medical costs have skyrocketed after trillions of Medicare/Medicaid/Prescription Drug Benefit dollars have been soaked into the healthcare industry.
Next you'll be asking why medical costs have skyrocketed after trillions of Medicare/Medicaid/Prescription Drug Benefit dollars have been soaked into the healthcare industry.
Posted on 4/30/22 at 5:04 pm to HailHailtoMichigan!
The answer is the same as it is for healthcare. All the “free” money is too tempting to not take advantage of either through insurance or gov backed loans.
The more money colleges charge, the more they can get their students approved for in loans. So they pile on useless administrative positions and build fancy buildings then plead poverty and demand donations from alumni who just got done paying inflated tuition and still have loans. It’s absolutely ludicrous.
The more money colleges charge, the more they can get their students approved for in loans. So they pile on useless administrative positions and build fancy buildings then plead poverty and demand donations from alumni who just got done paying inflated tuition and still have loans. It’s absolutely ludicrous.
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