Syracuse Raises Tuition

[Capt. Tuttle]

Learning is real. It is a classroom that may be virtual. Huge difference

There will be a huge drop in students if they go on line again. I think many sophomores and maybe juniors will take a gap year.

 

[upperdeck]

Not really.

why do you say that.. the loans are running half of what they were last year this time or less.

we are saying a huge increase in applications and down payments this year right now down here

 

[elimunelson]

Learning is real. It is a classroom that may be virtual. Huge difference

SU changed my family’s life as well as mine. I was heading to BC at full price until SU sent me a merit based scholarship which accounted for a 25+% savings. I actually tried to get BC to do same and they told me to pound rocks

SUs future will be saved by the generous actions of people like Einhorn, Barnes et al. I thank the benefactors for giving me the option to go to Syracuse at an affordable level in the early 90s

 

[dan7800]

A few things to keep in mind: 1) How many students actually pay full rate? 2) How much of the increase is being used for financial aid?

The way that MANY schools are working with recent tuition hikes is that the extra (say 3k/yr) is never really realized by the school. That 3k is given to students from groups that cannot afford to go there. So essentially the school raised tuition for students who come from demographics/backgrounds who figure that they can pay, and that money is given in the form of scholarships to students from other groups. Basically, it turns into some students subsidizing others.

With that said, 50k+ is obviously a lot.

 

[orangemass]

Many foreign students pay full freight. I wonder how that dynamic may change with travel restrictions

 

[SURules]

No one except the wealthy pay full stated cost. The wealthy who pay full cost help generate scholarship help for other students. The average cost to a student (because of scholarship help) is way less than the stated number.

I know this won’t be popular but why do the ”wealthy” have to pay more for their kid to get the same degree? That is another “wealth tax“ just because their parents make more than most.

 

[elimunelson]

Many foreign students pay full freight. I wonder how that dynamic may change with travel restrictions

I think this will be a political hot button for the reason you state. I wonder if foreign students would agree to be taught online and still get the US accreditation and pay full freight. I doubt it but they do subsidize US students

ultimately the solution will be to increase enrollments but it will crush the second tier schools. Whether SU flourishes in that environment is a big ?

 

[Newhouser]

i'm an alum and SU isn't worth it. Nor or a bunch of other schools charging similar rates.

 

[OburgOrange]

St. Lawrence University, the local Liberal Arts University is 71,000$...all in.

 

[billorange44]

This reminds me of a guy I once knew. He was a painting contractor. His business dropped way off to next to nothing so he decided to raise his rates. It didn't do a damned thing for his business.

 

[SURules]

i'm an alum and SU isn't worth it. Nor or a bunch of other schools charging similar rates.

I am an Alum as well as my wife. For many Majors, paying that kind of money doesn't have the financial return to justify the cost IMO.

 

[LeMoyneCuse]

I know this won’t be popular but why do the ”wealthy” have to pay more for their kid to get the same degree? That is another “wealth tax“ just because their parents make more than most.

... Because they can afford it?

 

[Libero2]

... Because they can afford it?

I think his point is, why not have rates that most everyone can afford, and just give aid to those who are in severe need?

But without a 20k scholarship, I never would have been able to attend SU. It was one of the best experiences of my life, and I can say for a fact (as I am still paying off the finances) that it was worth it. But if I was another 20 thousand in the hole I would likely have not been able to start life, as those student loan payments were pushing $700 a month at one point, and with rent pushing $1500 in this area outside of DC, I wouldn't have been able to survive if I needed another $200 or so going to my loans every month.

College is too expensive (vs. the benefit you receive in initial salaries) across the board. It's pushing a lot of kids who worked very hard to get quality degrees into financial danger if they aren't able to get a job in their field immediately after school.

 

[FloridaFan]

I think his point is, why not have rates that most everyone can afford, and just give aid to those who are in severe need.

are we seriously complaining that the rich have to pay more?

 

[JeffCuse]

I don't know their bottom line financial situation, and if the school was in truly dire straits they gotta do what they gotta do. But if there was ANY way to wait a year I really really think they should have. Its a terrible optic.

 

[Libero2]

are we seriously complaining that the rich have to pay more?

Oh I'm not. I certainly am anything but wealthy. I was just explaining his point.

 

[JRHEETER]

are we seriously complaining that the rich have to pay more?

Yeah mind blown by this... “why do I have to pay more of Johnny who only has $100 in bank account only has to pay less! He doesn’t deserve college then!”

 

[JeffCuse]

SU changed my family’s life as well as mine. I was heading to BC at full price until SU sent me a merit based scholarship which accounted for a 25+% savings. I actually tried to get BC to do same and they told me to pound rocks

SUs future will be saved by the generous actions of people like Einhorn, Barnes et al. I thank the benefactors for giving me the option to go to Syracuse at an affordable level in the early 90s

Spring of 1995...lifelong BC fan growing up in Boston...got into both...same deal, Syracuse gave me probably 10K more aid (which was probably about 40% of tuition at the time) and my family was broke. I went, myself, the the BC financial aid offices and brought both packages and asked if there was anything they could do.

Nope.

I left the BC package on the desk and became Orange for life that day. BC.

 

[Newhouser]

I don't know their bottom line financial situation, and if the school was in truly dire straits they gotta do what they gotta do. But if there was ANY way to wait a year I really really think they should have. Its a terrible optic.

SU doesn't get or care about optics. They prove it time and time again.

 

[LeMoyneCuse]

I think his point is, why not have rates that most everyone can afford, and just give aid to those who are in severe need?

But without a 20k scholarship, I never would have been able to attend SU. It was one of the best experiences of my life, and I can say for a fact (as I am still paying off the finances) that it was worth it. But if I was another 20 thousand in the hole I would likely have not been able to start life, as those student loan payments were pushing $700 a month at one point, and with rent pushing $1500 in this area outside of DC, I wouldn't have been able to survive if I needed another $200 or so going to my loans every month.

College is too expensive (vs. the benefit you receive in initial salaries) across the board. It's pushing a lot of kids who worked very hard to get quality degrees into financial danger if they aren't able to get a job in their field immediately after school.

Not at all how I interpret his point.

That being said, I agree with the absurd cost of tuition. I think my senior year at Le Moyne in 07-08 was $35,000 for the full year, including room and board. 'Cuse was probably $10k more than that, but even so. All in expenses for college have doubled in a decade?

 

[Rocco]

Higher education is SO ripe for disruption. I own a small business that manages money and I could honestly care less about where someone goes to school. It's all about their ability to be coached, willingness to learn the real ropes, their ability to hold a conversation and their overall quality of character. When they're saddled with over $100k of student loans for their double major at Colgate or Syracuse or Cornell, that doesn't really do much for me. Colleges do not prepare these kids for the real world, whatsoever.

I'm guessing that some other small businesses out there have a similar take.

 

[Cusefan0307]

Higher education is SO ripe for disruption. I own a small business that manages money and I could honestly care less about where someone goes to school. It's all about their ability to be coached, willingness to learn the real ropes, their ability to hold a conversation and their overall quality of character. When they're saddled with over $100k of student loans for their double major at Colgate or Syracuse or Cornell, that doesn't really do much for me. Colleges do not prepare these kids for the real world, whatsoever.

I'm guessing that some other small businesses out there have a similar take.

Depends on the person. The 23 year old on my team has turned into one of my most productive employees and he has skills that other people in their 40's and 50's will never learn.

 

[Rocco]

Depends on the person. The 23 year old on my team has turned into one of my most productive employees and he has skills that other people in their 40's and 50's will never learn.

Sure, but I'm in a people business. I will teach them how to manage money. Over time, hopefully they will bloom into their own skill set. I've interviewed well over 100 kids over the last few years. IMHO, there's a major disconnect between what they're learning and actual reality.

Need to get back to the basics unless you're going to be an engineer, doctor or coder.

 

[upperdeck]

why do kids from poor families come out of school with almost no debt and kids from middle income come out 100K in the hole? they end up with the same job on the other side .

 

[FasterCuse]

why do kids from poor families come out of school with almost no debt and kids from middle income come out 100K in the hole? they end up with the same job on the other side .

This right here... I grew up in a family that wasn't rich by any stretch of the imagination, but were probably slightly above middle class. When I went to college there was no financial aid offered because my parents should have been able to afford it (never mind that they were strapped with their own debt). Based on their situation my parents couldn't/didn't help at all, which left me taking out student loans. However, everywhere I looked, were kids who's parents were rich and footing the bill or who's parents didn't make as such as mine and were getting a full needs based ride. The current system is broken and needs a total revamp.