OT - Yet again, Syracuse University raises tuition

OttoinGrotto

Professor Irwin Corey
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Tuition, room and board in 1979 was $7,800. Now it’s over $70,000. It’s insane.
I wonder how that works out inflation wise. I'm guessing even accounting for that the cost is proportionally a lot higher.
 

NineOneSeven

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Syracuse isn’t nearly a good enough school to justify that cost. Sorry. Especially when kids are getting bozo degrees for all that money.

My buddy texted me other day about this. Just go to esf. Get a stem degree and a lot of classes you take are even in Syracuse class rooms anyway.

I was very lucky both my parents worked there, to get free tuition. Even still I had thousands of dollars of loans for housing.
 

Millhouse

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Syracuse University increases tuition again this year

Need to start saving now for the kids I don't even have yet to go my alma mater.
actual net cost is well below that

the giant sticker price is a good way to get more money out of rich people with dumber kids but I wonder how much it scares people off who don't know better.

my attitude is and was if you have to pay the full sticker price, set your sights a little lower until you find a school that won't charge you the full price. it was a little demoralizing as a kid, what is the point of trying really hard to get into a better school that parents weren't going to pony up full price for (I don't blame them)
 

OttoMets

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actual net cost is well below that

the giant sticker price is a good way to get more money out of rich people with dumber kids but I wonder how much it scares people off who don't know better.

my attitude is and was if you have to pay the full sticker price, set your sights a little lower until you find a school that won't charge you the full price. it was a little demoralizing as a kid, what is the point of trying really hard to get into a better school that parents weren't going to pony up full price for (I don't blame them)
Lotta parents of C high school students from Long Island, New Jersey, and Connecticut are helping keep the place running. I'm not sure how much they contribute to the university beyond that.

They'll be there even after the bubble bursts, I assume, but SU has to be nervously eyeing the China situation. If those full-pays dry up, I don't know where SU will make up the revenue.
 

Stevenson

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Lotta parents of C high school students from Long Island, New Jersey, and Connecticut are helping keep the place running. I'm not sure how much they contribute to the university beyond that.

They'll be there even after the bubble bursts, I assume, but SU has to be nervously eyeing the China situation. If those full-pays dry up, I don't know where SU will make up the revenue.
There aren’t any C students getting into Syracuse these days.
 

bevosu

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Although federally guaranteed student loans were helpful.. they were essentially another welfare program for financial institutions. That guarantee didn't inspire lending institutions to do any serious due diligence. There was barely any risk involved. Except for uncle Sammy.

Under the guaranteed student loan program, private lenders—including Sallie Mae and commercial banks—issued student loans that were guaranteed by the federal government. Guaranteed loans are also called Federal Family Education Loans (FFELs). Here's how the "guarantee" works:

If a borrower defaults on a guaranteed loan, the federal government pays the bank and takes over the loan. The federal government pays approximately 97% of the principal balance to the lender. At that point the federal government owns the loan and the right to collect payments on the loan
 

Capt. Tuttle

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Although federally guaranteed student loans were helpful.. they were essentially another welfare program for financial institutions. That guarantee didn't inspire lending institutions to do any serious due diligence. There was barely any risk involved. Except for uncle Sammy.

Under the guaranteed student loan program, private lenders—including Sallie Mae and commercial banks—issued student loans that were guaranteed by the federal government. Guaranteed loans are also called Federal Family Education Loans (FFELs). Here's how the "guarantee" works:

If a borrower defaults on a guaranteed loan, the federal government pays the bank and takes over the loan. The federal government pays approximately 97% of the principal balance to the lender. At that point the federal government owns the loan and the right to collect payments on the loan
Any guaranteed payer sources leads to unnecessary cost increases and abuses. Medical insurance and college are just 2 examples.
 

DMDMD

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A lot of this is to target "full freight" students, ie rich parents with mediocre kids and especially foreign students, who don't get aid.
 

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