Syracuse Raises Tuition

[CuyahogaCuse]

Big fallacy here. No one takes out loan for that amount. If one needs that much assistance, he/she would receive significant financial aid

CTO ... please lay it out for me. I’m an alum. I’ve got two orange cars with Cuse vanity plates, an orange man-cave and a rising senior in high school who bleeds orange, just like I do, with a brother two years behind him.

And yet, we aren’t even looking at SU at the moment because $80k a year is 4x the cost when I left in 1991.

I’ve done well. But we’re not independently wealthy. We’ve filled out the Cost Calculator, and it’s not pretty.

Help me to connect the dots.

 

[cto]

CTO ... please lay it out for me. I’m an alum. I’ve got two orange cars with Cuse vanity plates, an orange man-cave and a rising senior in high school who bleeds orange, just like I do, with a brother two years behind him.

And yet, we aren’t even looking at SU at the moment because $80k a year is 4x the cost when I left in 1991.

I’ve done well. But we’re not independently wealthy. We’ve filled out the Cost Calculator, and it’s not pretty.

Help me to connect the dots.

Without knowing your precise financial situation... and without knowing the precise SU metrics for such a situation ... I can't be much of dot-connector here. Such an answer can only be known once a kid applies for admission and for financial aid. Each kid is different. Some are National Merit finalists; some want to play the tuba in the marching band; some might be eligible for an arcane scholarship such as "descendants of Ukranian refugees." Too many variables.

BTW, it makes sense to check the availability of specialized scholarships... both nationally and at Syracuse specifically. You never know what you might find. (I myself found a Methodist Church scholarship).

 

[FreakTalksAboutSU]

When I applied to SU, my father was out of work (had been for about a year) and my brother was in college. Because he was enrolled before my father lost his job, he didn't get aid. Because he wasn't getting it, and because the value of our home was still high, we were told that we would not be eligible for aid at SU, after all we didn't get it for my brother and were paying full tuition... There is no clean line on "rich" vs "poor". We were financially judged by the full value of our assets including our mortgage/re-fi potential.

Exactly. In our case, we had a decent college nest egg wiped out by 2 different floods (Sandy and another more recent). We've build a small bit back but very very little. And that also caused us to eat into most of our equity. Unfortunately, no one cares. I make what I make and should have saved a lot more than I have (according to them) and their stupid little equation dictates all.

 

[FloridaFan]

There isn’t much for “average middle class family that makes 80k a year but doesn’t have disposable income for college” in terms of FA or grants I would guess

 

[Acesn8s]

I have been a die hard orange fan my entire life, I always wanted to go to SU applied and got accepted and the financial aid was mehhhh for my family, however I got a chance to play sports at a SUNY school and thankfully that was enough to make me change my mind and today. I certainly wasn't thinking about the money end of it back then. I am fortunate enough financially today and more importantly I am done paying loans and. compare that to my two sisters one Cornell grad/ Ithaca college masters and the other Syracuse I thank god I didn't make those choices. State schools IMO the way to go. My kids are young and I will support wherever they go but I certainly hope they all can pick a State school they like!

 

[SU2NASA]

Big fallacy here. No one takes out loan for that amount. If one needs that much assistance, he/she would receive significant financial aid

So let’s subtract any interest and make it an all-cash purchase. Do you really think that a Syracuse education, in earnings potential, is worth $76K a year? Tuition + Room and Board is ~20% higher than the household median income in the United States.

The obvious point is, at full cost, even if you strip away every penny of interest, Syracuse University is likely a bad investment as compared to a variety of alternatives.

 

[SU2NASA]

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 .

um, because one is heavily-subsidized and the other isn’t?

 

[upperdeck]

thats the point, why is it done that way. if parents are not doing the paying for 75% of the kids, why do 50% end up in debt, and 25% no debt? Just making up the random numbers but its a large number.

 

[SU2NASA]

... Because they can afford it?

So should the wealthy have to pay more for everything else because they can afford to pay more? My best friend (fraternity brothers at SU) came out and was into the $300’sK within 5 years of graduating. I did well but I was making like $65K. So when we’d meet up in Syracuse for a football or basketball game, he could have picked up the tab for the Sheraton and tickets and whatever, but why should he? Why just because he can afford to do it makes him responsible to do it?

I’m upper middle-class, but by no means wealthy, and I don’t get the reasoning behind they can afford to, so they should pay more. If wealthy kids get advantages for acceptance, the problem is with the acceptance system, not the tuition system.

 

[SU2NASA]

thats the point, why is it done that way. if parents are not doing the paying for 75% of the kids, why do 50% end up in debt, and 25% no debt? Just making up the random numbers but its a large number.

I’m not sure how someone counters against made up numbers.

 

[Rocco]

This is why you go community college the first two years and then transfer to a school such as Syracuse. Paying the full nut anywhere else isn’t good value Year 1 and 2.

Especially when the first 2 years curriculum are loaded with liberal arts BS that provides absolutely zero tangible or intangible benefit.

 

[cto]

Especially when the first 2 years curriculum are loaded with liberal arts BS that provides absolutely zero tangible or intangible benefit.

The liberal arts are what make us thinking, thoughtful, educated human beings ... and not just mono-focused accountants, engineers or programmers. Literature, music, art, philosophy, history, etc ... help create a total person who can relate to the world and the people within it. How sad it would be to go through life with only a narrow, specialized occupation-focused education and outlook.

 

[eyestreet]

The liberal arts are what make us thinking, thoughtful, educated human beings ... and not just mono-focused accountants, engineers or programmers.

LOL

 

[elimunelson]

So let’s subtract any interest and make it an all-cash purchase. Do you really think that a Syracuse education, in earnings potential, is worth $76K a year? Tuition + Room and Board is ~20% higher than the household median income in the United States.

The obvious point is, at full cost, even if you strip away every penny of interest, Syracuse University is likely a bad investment as compared to a variety of alternatives.

All schools cost a ton but what is your metric for a school that is worth it vs one that is overpriced? Harvard is worth it but is Wesleyan? Princeton or Notre Dame? Georgetown or USC? They all cost a ton but the ROI is soooo subjective.

if your point is SU is not ranked high enough to justify the tuition then its an argument a family may make. All I know is it was worth it for me because my career was made by SU. My friends at Harvard and Georgetown paid more than me and they consider it worth it.

 

[dan7800]

A school's tuition is justified if students pay the rates. If students don't attend the school due to cost, then it isn't

 

[hoopsupstate]

I loved my seven years at Cuse
(ok, it was only 4, plus a summer session), but - I have zero desire for our daughter to go there.

Thankfully, she feels that way even more so, so it’ll end up being some art college that “only” costs $40k / year.

When I attended (mid 80’) it was “only” $13-$16k / year all-in, tuition plus room n board.
Which was pretty much my Mom’s salary, so she worked for 4 years to put me thru school, and once I graduated, my parents were then able to sell our house & retire.


I’d love for our kid to go to a SUNY school, since after your first job, that piece of paper is almost irrelevant.

Would like to know why college tuition goes up at more than double the baseline inflation rate.
I guess the answer is - because it can.

I graduated in 1979 and when we moved a couple of years ago I came across my bursars bill for my final year. Tuition, room and board and all fees was $7,800. It’s ten times that now. The a University actually reimbursed me $50 dollars that year.

 

[OrlandoCuse]

I’d like to see a joint effort from all colleges to reduce costs of tuition and room & board. Student loan programs have allowed colleges to increase their sticker price beyond the true demand. These debt burdens are saddling people for years (decades) after they leave school. The school gets the money up front, the borrower gets crippled with the debt without a full understanding of how much it will actually cost over the length of their loan. This significantly increases the “true cost” of a college degree, which starts with and is compounded by colleges exponentially increasing their cost of attendance.

We see calls from progressives to cancel student debt, potentially passing along the burden to taxpayers. Why have we not seen a massive movement for colleges to lower their cost of attendance?

 

[knicks07]

Tuition will continue to go up and value down as long the University is under the fiscal leadership of Syverud and his current CFO. And they love to spend on projects. Wait until the final numbers for the Carrier Dome come in.....they past that $118 mark long, long ago for phase 1. Time for change.....Syverud has been a disater all around

 

[Cusefan0307]

TBH I am missing something here. I grew up from a middle class family and left Syracuse with 36K in debt in 2007. It was certainly manageable and I have paid it off. I did get Syracuse grant money, so the total cost was not the advertised sticker price and it wasn't like my parents had to give up their retirement for me to go there.

 

[sutomcat]

Tuition will continue to go up and value down as long the University is under the fiscal leadership of Syverud and his current CFO. And they love to spend on projects. Wait until the final numbers for the Carrier Dome come in...they past that $118 mark long, long ago for phase 1. Time for change...Syverud has been a disater all around

I believe SU debt has been reduced considerably under Chancellor Syverud and academic rankings have gone up.

Not sure I have heard anyone say this about Eric, especially not in comparison with his predecessor. Do you have any facts whatsoever to back your statements up with?

 

[TexanMark]

I graduated in 1979 and when we moved a couple of years ago I came across my bursars bill for my final year. Tuition, room and board and all fees was $7,800. It’s ten times that now. The a University actually reimbursed me $50 dollars that year.

Sounds about right. I figured $7000 in early 1977 SU when I was deciding where to attend. Much different era then. Parents didn't hyper ventilate over getting their kids into the best places (not at my HS at least, maybe J-D and F-M had more parent pushing). I was not the best student in HS (lazy and not focused) but tested well (won Regents Scholarship). I went to Oswego St. to see if college was going to work for me and had fun there and stayed on to graduate.

Oswego St tuition was $375 for Fr/So years... jumped to $450 for Jr/Sr years. Tuition stayed the same all 4 years. I don't remember the exact cost for Oswego but I think it was about $3000 a year including everything.

 

[reedny]

Especially when the first 2 years curriculum are loaded with liberal arts BS that provides absolutely zero tangible or intangible benefit.

lol (It's actually the opposite, Rocco - liberal arts (social sciences) and science majors score the highest on the CLA - Collegiate Learning Assessment- with business majors at the bottom).

 

[Bayside44]

The liberal arts are what make us thinking, thoughtful, educated human beings ... and not just mono-focused accountants, engineers or programmers. Literature, music, art, philosophy, history, etc ... help create a total person who can relate to the world and the people within it. How sad it would be to go through life with only a narrow, specialized occupation-focused education and outlook.

As a holder of a Syracuse liberal arts degree this all over.

Those early 90 diplomas in things that say "Magazine" really seem short sited.

End of the day the books are the books, it's the experience that costs and hopefully pays off.

 

[reedny]

So let’s subtract any interest and make it an all-cash purchase. Do you really think that a Syracuse education, in earnings potential, is worth $76K a year? Tuition + Room and Board is ~20% higher than the household median income in the United States.

The obvious point is, at full cost, even if you strip away every penny of interest, Syracuse University is likely a bad investment as compared to a variety of alternatives.

Strange take coming from "SU2NASA".

 

[OttoMets]

So let’s subtract any interest and make it an all-cash purchase. Do you really think that a Syracuse education, in earnings potential, is worth $76K a year? Tuition + Room and Board is ~20% higher than the household median income in the United States.

The obvious point is, at full cost, even if you strip away every penny of interest, Syracuse University is likely a bad investment as compared to a variety of alternatives.

That's too broad a question, I believe. And I'm coming in to this a little biased against SU and definitely of the opinion that that doesn't seem like a great value.

But it all depends on what your background is, why you're going to school, and what you're going to do while you're in school.

If you're a dead-eyed pajama boy whose parents have shelled out decent money for a private school K-12 education and you/they want to pay SU tuition to major in psych? There are people who do this. I'm baffled by that decision.

But there are a lot of other avenues you can choose, you can put a lot in to the university community and also get a lot back. I see some very well-rounded people coming through SU who probably can't put a price on the value they're getting.

(I still would pick a lot of other schools for my kid, though.)