forums

UM cost of attendance...

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...
You poor youngsters. Tuition at Lafayette was a bit less than the Ivies. In 1969, it was $1600. Made $2300 summer of 68 and gas was $.35. Lost a state scholarship cause I had a car on campus. Dad said take a loan and I will get you a new car. Rambler American for $1600. Don't scoff. Front bench seats that both recline Engineers got jobs for $12,000, 7 times tuition.
 
Advertisement
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...


I didn't type random words. And you need to work on reading comprehension. I never assumed you didn't have a 4-year degree. Nor did I ever say that.

I'm just going to focus on your second paragraph (of 9 that I will presume regurgitate the same bull**** class-warfare arguments) when you invented another statisic about how the "vast majority of students pursue degrees that are irrelevant".

Again, you are entitled to your feels. But that doesn't give you a license to invent bat****-crazy (and fake) statistics/facts.

Look, what you don't know about student loans could fill a set of encyclopedias. Particularly when you invent fake facts on top of fake statistics. You really don't understand how student loans work. The banks have been making student loans FOR MORE THAN 50 YEARS (not just the last 10-20 years) and the government doesn't provide access to large amounts of money. Banks do that. Always have.

The funny part is that by your final paragraph, you are already backtracking. No longer talking about how college is a "scam" for "80% of the population". You backpedaled to "value for dollar spent" and started advocating for public universities.
 
Hold My Beer said:
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
Click to expand...
I'm passionate about debt, staying out of it, and coaching others out of it. I keep my mouth shut on most broader topics but the student loan issue isn't one I can shut up about lmao

I'm not a huge dave ramsey follower, I like his stuff just not really my cup of tea - but his team did a documentary a few years back that I think highlights how corrupt it all is.



there's several deeper ones out there that go into more detail
 
Advertisement
Hold My Beer said:
Good question 🤔

What it will do is make T-shirt fans who support the program financially even more valuable than before
Click to expand...


OK.

Except that in 2022, all UM alumni donations to the school were $282 million. During the 2022-23 year (after hiring Mario and experiencing an uptick) football donations were $26 million.

That's not to disparage the football donations. But the overall level of alumni donations to UM is over 11x what football brings in (donations, not talking about TV or ticket revenue).

And for the record, the $282 million was just ALUM donations, that doesn't count any non-alum donations that may have gone towards building, say, a BUILDING. And I would presume that the football donations were a mixture of UM alums and non-alums.
 
AI is going to absolutely nuke tuition costs imo.

Colleges will still be a thing, but will almost entirely be about the social aspect and shift to more actual experiences.
 
TheOriginalCane said:
I didn't type random words. And you need to work on reading comprehension. I never assumed you didn't have a 4-year degree. Nor did I ever say that.

I'm just going to focus on your second paragraph (of 9 that I will presume regurgitate the same bull**** class-warfare arguments) when you invented another statisic about how the "vast majority of students pursue degrees that are irrelevant".

Again, you are entitled to your feels. But that doesn't give you a license to invent bat****-crazy (and fake) statistics/facts.

Look, what you don't know about student loans could fill a set of encyclopedias. Particularly when you invent fake facts on top of fake statistics. You really don't understand how student loans work. The banks have been making student loans FOR MORE THAN 50 YEARS (not just the last 10-20 years) and the government doesn't provide access to large amounts of money. Banks do that. Always have.

The funny part is that by your final paragraph, you are already backtracking. No longer talking about how college is a "scam" for "80% of the population". You backpedaled to "value for dollar spent" and started advocating for public universities
Click to expand...

never said that student loans started 20 years ago, I know it's been going since the 60's like the video I posted clearly outlines.


is the federal reserve bat****-crazy (and fake) for posting statistics like north of 40% of college grads don't use their degree?

are any of these stats crazy? or made-up? I'm confused why in every thread when you're not the most knowledgeable about something being discussed you immediately go to name-calling and trying to sound like you're an expert on everything.


1738892166292.png



here's some more highlights

1738891762821.png




I'm backtracking by highlighting that IF someone picks the right degree and goes to a cheaper public school that it can sometimes work out with a reasonable ROI? and I'M CRAZY for saying that buying a degree at a school that charges 5x more is absurd? and IM crazy for being mad as a taxpayer that the government has enabled student loan companies to reach record profits while ripping off our youth and in turn enabled colleges to price hike at insane levels all while the government has been burdened by billions of guaranteed debt?

when was the last time you asked your doctor what school he/she went to before they saw you? when was the last time you asked an engineer what school he/she went to before they oversaw a job? when's the last time someone on here asked a lawyer what school they went to before they hired them?

here's a hint *it doesn't ******* matter*

If that makes you feel better about $97,000 tuition and gives you the false notion that I'm backtracking or changing my tune then go ahead.

you haven't (and you can't) debunk any of what I've posted. They are a business and people are buying it so good for them, but it doesn't mean that the system isn't predatory



this isn't solely on miami, I love Miami. This is directed at the thousands of price-hiking colleges in America, and mainly the government for creating a system that enabled it.

not an ounce of class-warfare in anything I said, despite your best efforts


have a good one
 
Last edited:
Advertisement
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...

as much as I love UM, it is nowhere near worth the price tag that theyre currently charging regardless of major. such a shame.
 
I’m an alum.

I grew up in the Midwest. Hated it. My family was middle class with lots of kids. I had scholarships, grants and loans. Tuition was about $15-18k while I was in school. Took me til I was 40 to pay the loans off, but I did. I worked my áss off. I had jobs both in my degree field and out of it. I also had a double major. It was hard. Real hard. But I’m better off for it.

I currently own a business and have had some amazing experiences since my time at The U. I reconnect with my friends from school once every year or two and the relationships are incredible. Every single interview I’ve ever had post college involved at minimum a mention of the football program at UM. Every single one. UM is a highly respected school in my field of work and it adds credibility to both me and my company when it comes up. I love UM and am so incredibly grateful that the school preyed on my teenage self.

All snarky comments aside, my dad and I had several chats about borrowing money, repaying loans, interest, etc when I chose UM. I did not understand borrowing then like I do now, but I wasn’t an uneducated victim either. I remember going to the financial aid office and signing the promissory notes (pre internet) thinking “here goes nothing” each time while crossing my fingers that it would work out as I skimmed all the fine print in the CONTRACT I knew I was signing.

As for the current price, I don’t feel like the costs are worth what the degree brings in return any longer. Barring some act of God, my kids won’t be going there. I do not agree that the school “doesn’t matter,” but I do believe that spending $400k (if not more) on an undergrad degree doesn’t make sense for our own situation. In terms of costs, college is like choosing a car. You can get around town in a Honda Civic, a Chevy Tahoe, a Range Rover, a Lambo or anything else. There’s a reason why the prices vary so much. Sometimes those reasons are valid (horsepower, bells and whistles) and sometimes they’re not. Let the buyer beware.
 
Advertisement
Gocanes1990 said:
Will this make us better at fb?
Click to expand...
Maybe we just use AI as coordinators?
Whose seen that one group training AI to predict pressure/blitzes based on pre-snap images? Cool stuff.
Idk why in a year or two everyone wouldn't be using AI to get the best play flow and since mics don't cutoff till final 15secs you can just run the no huddle, have direct video to the model predicting the coverage/blitz and feeding you the best audible/play...
 
While the top line numbers are jarring, the conversation does not end there. Few people end up paying that $97k/yr price point (mostly internationals from what I gather). 85% of UM students are on some sort of financial assistance (https://admissions.miami.edu/undergraduate/financial-aid/index.html). The average annual cost comes out to a much more reasonable $35k/yr (https://collegescorecard.ed.gov/school?135726-University-of-Miami).

The full-tuition students subsidize the students who receive financial assistance. The financial assistance funding also comes from other revenue streams including donations, endowment, etc. UM spent nearly $400 million on scholarships and fellowships last year (https://controller.miami.edu/web-ne...ments/fy2024-audited-financial-statements.pdf, page 9). Imo, bringing in a highly talented group each year through aggressive scholarship offers should be an institutional priority. I wonder what direction this will go with Echevarria in charge.
 
I think there's a few things that should be mentioned (just MO):

1. Almost 6-digit-tuition is ******* insanity. Unless it's absolutely proven with 100% credibility that a degree from this school is worth this investment in the long run based on wages earned for the average college student, it's too high.

2. AI isn't going to nuke **** at this point and it won't in the foreseeable future. Imagine a technology in the business world that will reduce the amount of money a company makes - yeah, no.

3. Reason why this school has this high tuition: People still can afford it. And I'd argue the vast majority of them don't have rich parents or **** gold. Tuition is so high because people allow it to be that high. Only way tuition drops is for students to simply not attend due to too much cost.

4. College isn't a scam based on the experience provided and the lessons learned both in the classroom and outside of it. College is a scam based off of the cost of a degree. And it's not worth that.
 
Advertisement
Re: College and debt

I'd advise against the debt, and encourage the education. If you must go into debt, minimize it as much as possible, and have a financial plan prepared to pay it back - asap.

How that looks is different for everyone. The purpose of college, for most (myself included), is an ROI. All that socializing bull****, imho, is for the privileged. You can network your *** off and still end up broke. Not discouraging it, but I wouldn't suggest going to a big time school to network and socialize, lol.

In my eyes, college is merely a vehicle towards upward mobility (i.e. more money, security, etc.). If a college/university degree is not that vehicle, don't get in it. Find another ride.
 
hurricaneman said:
The draw is wealthy northern kids who want to live in Miami for 4 years and students outside the US.
Click to expand...

Is there a College Football program with a wider disparity between its typical student and its typical fan than the University of Miami? Even a large number of "subway alumni" are Catholic and thus gravitate toward Notre Dame

Georgetown basketball in John Thompson's heyday might be the most similar to UM's situation
 
Tuition is now $2530 per credit hour. It was $500 in 1990. Compare that to a state school where the tuition is $105 per credit hour.

For 99% of graduates, the school and GPA matter most when getting that first job. After that, it's just a checkbox and experience is what gets you the interview.

I agree with @passitback, ROI should be the driving factor.
 
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.
Click to expand...
Goodness that full burdened tuition rate is a big ouch for our alma mater.

I wonder what the true average cost of attendance at UM is?
 
Advertisement
Back
Top