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UM cost of attendance...

TheOriginalCane

TheOriginalCane

So say good night to the bad guy!
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Hey, at this rate, we will break $100K by next year!



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TheOriginalCane said:
Hey, at this rate, we will break $100K by next year!



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One proposed bill that came out of the House Ways and Means last year was to increase the Net Investment Income to minimum of 10% if a university’s tuition outpaced inflation on a three year rolling look back. Hard to argue against that being good policy. This is insane.
 
absolutely nuts. it was around half that when i attended ~10 years ago, and that was still a ridiculous amount of money that i would not have come close to affording had i not been on scholarship.
 
Fluffhead said:
One proposed bill that came out of the House Ways and Means last year was to increase the Net Investment Income to minimum of 10% if a university’s tuition outpaced inflation on a three year rolling look back. Hard to argue against that being good policy. This is insane.
Click to expand...



"Tuition, totalling $63,452, is the sharpest increase by category, climbing over $2,500, or 4.5%, from last year."

In 1986, tuition was $8,800 for one year.

So...for about 40 years...tuition was in the 5-digit range. Here comes 6-digit tuition, baby!
 
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I know there are UM alums here so I mean no disrespect but colleges as a whole are a complete scam for 80% of the population in the US and private schools like Miami are a scam for 95% of the attendees outside very specific circumstances or for those that wouldn't blink an eye about burning 400k on the kitchen table.

not a political take - but a country take - I hope the government stops backing and guaranteeing the student loans issued by predatory student loan companies. The second they do that is the second Miami and colleges stop milking young people for every last dime of their future
 
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407cane said:
I know there are UM alums here so I mean no disrespect but colleges as a whole are a complete scam for 80% of the population in the US and private schools like Miami are a scam for 95% of the attendees outside very specific circumstances or for those that wouldn't blink an eye about burning 400k on the kitchen table.

not a political take - but a country take - I hope the government stops backing and guaranteeing the student loans issued by predatory student loan companies. The second they do that is the second Miami and colleges stop milking young people for every last dime of their future
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More people need to know and understand that not just is a trade school ok, in many cases it is a great decision and a way to build a nice life. Minimal debt, start career quicker, and tradespeople can make a lot of money. Theres a **** ton of AC, plumbing, pool, etc people aging and retiring with no one to take over their business. And these are successful businesses.
 
TheOriginalCane said:
"Tuition, totalling $63,452, is the sharpest increase by category, climbing over $2,500, or 4.5%, from last year."

In 1986, tuition was $8,800 for one year.

So...for about 40 years...tuition was in the 5-digit range. Here comes 6-digit tuition, baby!
Click to expand...
I have a lot of thoughts given my line of work but will spare the board from having to read them.
 
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407cane said:
I know there are UM alums here so I mean no disrespect but colleges as a whole are a complete scam for 80% of the population in the US and private schools like Miami are a scam for 95% of the attendees outside very specific circumstances or for those that wouldn't blink an eye about burning 400k on the kitchen table.

not a political take - but a country take - I hope the government stops backing and guaranteeing the student loans issued by predatory student loan companies. The second they do that is the second Miami and colleges stop milking young people for every last dime of their future
Click to expand...


Yeah, this entire post is typical class-warfare nonsense.

And I mean no disrespect to those who do not have 4-year college degrees and are able to work hard and make money over their adult lifetimes. I am one of 5 siblings, two of us have college undergrad and graduate degrees and are doing quite well, and three of us do not have 4-year degrees and are doing quite well.

The absolute advantage that the United States owns over nearly every other country on the planet is our higher education system. The United States trains more doctors and lawyers and engineers and business professionals than any other country on the planet. Those professions are the most highly compensated ones too.

And I get it, those jobs are not everyone's passion. For those who choose to do a job that does not require a 4-year degree or a graduate degree, I have nothing but respect. Pursue your passion and make as much as you can make.

As for student loans, there are limits to the direct subsidized and unsubsidized loans. For undergrads, it's $12,500 per year and for grads it's $20K per year. So you still need a scholarship or wealthy parents to go to UM. Now, sure, there may additional private loan offerings above and beyond those regulated by the government, and those may be the target of your ire. But the reality of the past several decades has shown that the highest student-loan default rates were NOT for those with 4-year degrees or graduate degrees that were earned, but were for loans made for vocational and tech programs, or 2-year colleges.

You are entitled to your feelings. But inventing statistics like "colleges as a whole are a complete scam for 80% of the population" and "private schools like Miami are a scam for 95% of the attendees" is just wrong. I go to plenty of UM alumni functions, and I can assure you that more than 5% of the Miami alums are doing quite well with our education and degrees. And, ****, even being charitable, more than 20% of University of Florida alums are doing quite well too.
 
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407cane said:
I know there are UM alums here so I mean no disrespect but colleges as a whole are a complete scam for 80% of the population in the US and private schools like Miami are a scam for 95% of the attendees outside very specific circumstances or for those that wouldn't blink an eye about burning 400k on the kitchen table.

not a political take - but a country take - I hope the government stops backing and guaranteeing the student loans issued by predatory student loan companies. The second they do that is the second Miami and colleges stop milking young people for every last dime of their future
Click to expand...
Alum.

The federal student loan program must be abolished. It's at the root of this nonsense. Faculty can keep voting themselves raises and know they'll get paid first. Schools can keep open ridiculous, frivolous departments.

End it. End it now.

In my case, college and grad school worked out. For most it's a waste.
 
TheOriginalCane said:
Yeah, this entire post is typical class-warfare nonsense.

And I mean no disrespect to those who do not have 4-year college degrees and are able to work hard and make money over their adult lifetimes. I am one of 5 siblings, two of us have college undergrad and graduate degrees and are doing quite well, and three of us do not have 4-year degrees and are doing quite well.

The absolute advantage that the United States owns over nearly every other country on the planet is our higher education system. The United States trains more doctors and lawyers and engineers and business professionals than any other country on the planet. Those professions are the most highly compensated ones too.

And I get it, those jobs are not everyone's passion. For those who choose to do a job that does not require a 4-year degree or a graduate degree, I have nothing but respect. Pursue your passion and make as much as you can make.

As for student loans, there are limits to the direct subsidized and unsubsidized loans. For undergrads, it's $12,500 per year and for grads it's $20K per year. So you still need a scholarship or wealthy parents to go to UM. Now, sure, there may additional private loan offerings above and beyond those regulated by the government, and those may be the target of your ire. But the reality of the past several decades has shown that the highest student-loan default rates were NOT for those with 4-year degrees or graduate degrees that were earned, but were for loans made for vocational and tech programs, or 2-year colleges.

You are entitled to your feelings. But inventing statistics like "colleges as a whole are a complete scam for 80% of the population" and "private schools like Miami are a scam for 95% of the attendees" is just wrong. I go to plenty of UM alumni functions, and I can assure you that more than 5% of the Miami alums are doing quite well with our education and degrees. And, ****, even being charitable, more than 20% of University of Florida alums are doing quite well too.
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I think the mistake you're making here is that you believe typing a whole bunch of random words makes you correct when speaking about topics and that's not always the case. I have a 4 year degree so you're wrong on the first assumption you've made.

The vast majority of students pursue degrees that are irrelevant. Yes those who dropout default at high rates, of course that's the case - those that dropout (i.e. don't have the discipline) are less likely to be successful in life. That's true in every aspect of life. this is not victim mentality, the parents / guidance counselors / and kids(to a lesser extent) are to blame as well, but the system itself is predatory.

I also paid all my student loans and am debt free, this is just my opinion on the epidemic.

There's absolute concrete proof that the federal government going into bed with fannie mae directly caused the inflationary college pricing we have today. Yes the programs and policies have changed over time but the premise remains the same.

Even though today's government issued direct loans are not always "federally guaranteed" in the traditional sense like how it started, they still have the same effect:

- The government provides easy access to large amounts of money for 17,18,19 year old kids who can't sip a beer but can go into life-altering debt
- Colleges know students can take out large loans --> so they keep raising tuition.
- Colleges have no risk—students take on all the debt, and the government shoulders the losses when people default
- Banks wanted in so private student loans have skyrocketed the last 10-20 years which opened up more debt options which raised tuition prices more

as long as that system holds ^ tuition will continue to skyrocket and colleges will use gameday photos to market kids to overpay for the experience as a means to make more money.

some degrees like medicine, STEM (electrical engineering for me), law, etc usually pay off absolutely - but it's still an open market and there's nobody on the planet that can soundly justify getting that type of degree at a school charging 50k per year vs a school charging 10-20k per year.

college can be valuable, but businesses (keep in mind the word "business" here) like Miami are not competitive in value for dollar spent so anyone would be best served going to public universities to pursue a degree - as long as that degree was relevant and allowed them to enter the workforce ahead


Your last sentence is where the disconnect is. I'm glad you go to the functions and that more than 5% of alums at miami are doing well, that's not my point.

the point is they'd be doing just as well if they got that degree somewhere else, potentially better. Maybe slightly worse, but certainly not SO much worse to justify paying sometimes 5-10x the cost to get that degree vs what it would be at other institutions.

the point is not that nobody is succeeding with degrees, it's that the ROI of getting that degree from some colleges doesn't exist, not matter how much you want to spin it.

I'm a Miami fan, l got an EE degree from a public university out of the state of Florida - I don't have a leg in that race.

but for every person you know doing well at miami, I'll find one that is doing just as well that spent 5-10x LESS on the same exact degree elsewhere. They are selling a product 5-10x more than it's worth and the government is enabling them to do it
 
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407cane said:
I think the mistake you're making here is that you believe typing a whole bunch of random words makes you correct when speaking about topics and that's not always the case. I have a 4 year degree so you're wrong on the first assumption you've made.

The vast majority of students pursue degrees that are irrelevant. Yes those who dropout default at high rates, of course that's the case - those that dropout (i.e. don't have the discipline) are less likely to be successful in life. That's true in every aspect of life. this is not victim mentality, the parents / guidance counselors / and kids(to a lesser extent) are to blame as well, but the system itself is predatory.

I also paid all my student loans and am debt free, this is just my opinion on the epidemic.

There's absolute concrete proof that the federal government going into bed with fannie mae directly caused the inflationary college pricing we have today. Yes the programs and policies have changed over time but the premise remains the same.

Even though today's government issued direct loans are not always "federally guaranteed" in the traditional sense like how it started, they still have the same effect:

- The government provides easy access to large amounts of money for 17,18,19 year old kids who can't sip a beer but can go into life-altering debt
- Colleges know students can take out large loans --> so they keep raising tuition.
- Colleges have no risk—students take on all the debt, and the government shoulders the losses when people default
- Banks wanted in so private student loans have skyrocketed the last 10-20 years which opened up more debt options which raised tuition prices more

as long as that system holds ^ tuition will continue to skyrocket and colleges will use gameday photos to market kids to overpay for the experience as a means to make more money.

some degrees like medicine, STEM (electrical engineering for me), law, etc usually pay off absolutely - but it's still an open market and there's nobody on the planet that can soundly justify getting that type of degree at a school charging 50k per year vs a school charging 10-20k per year.

college can be valuable, but businesses (keep in mind the word "business" here) like Miami are not competitive in value for dollar spent so anyone would be best served going to public universities to pursue a degree - as long as that degree was relevant and allowed them to enter the workforce ahead
Click to expand...

Good post Cane brotha

I don't know all the ins and outs of the College Student loan business/racket, so this is bit of an eye opener
 
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