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Yeah - costs are absolutely rising out of control, and I think the loan situation is a massive part of the problem. If your demand is fixed and people can forge

Yeah - costs are absolutely rising out of control, and I think the loan situation is a massive part of the problem. If your demand is fixed and people can forget about the costs until you've already been paid, why not raise prices? But I heard the same complaints back then from many of my peers, all that I know of are still in debt, and many got financial aid and misspent it. There's definitely a chronic and widespread problem of people not confronting the costs / benefits and deciding to seriously invest hard work and critical thinking into avoiding debt. If people can't do it at $2000 / semester in a very low-cost town, attending most major universities is just not even an option I'd recommend my kids even consider.

johnminter 8y ago
I agree. Too many students and their parents seem to engage in wishful thinking about college and not do due diligence when considering the costs. The schools have a financial conflict of interest: they get paid whether or not the student succeeds. Here are some conversations to start the process: 1) Does the student have a history of completing what they start? If not, consider a part-time trial at a community college with expectation of finishing with decent grades in courses that will transfer. 2) Will the student need remedial classes? The school gets paid but these courses do not satisfy graduation requirements. They do increase debt! 3) Does the student have a clear goal for a major? College is an expensive place to "find yourself." 4) What are the job prospects for that degree? How likely is it that the student will be high in the distribution of the graduates? Will the anticipated salary permit repayment of debt and self-support? 5) Are the time-to-graduate estimates realistic? A surprisingly low percentage of students complete a degree in 4 years. 5-6 is more common and results in more debt... 6) Has the student learned to live within budget? There are many distractions at college. Spring Break trips add cost...

johnminter 8y ago

I agree. Too many students and their parents seem to engage in wishful thinking about college and not do due diligence when considering the costs. The schools have a financial conflict of interest: they get paid whether or not the student succeeds. Here are some conversations to start the process: 1) Does the student have a history of completing what they start? If not, consider a part-time trial at a community college with expectation of finishing with decent grades in courses that will transfer. 2) Will the student need remedial classes? The school gets paid but these courses do not satisfy graduation requirements. They do increase debt! 3) Does the student have a clear goal for a major? College is an expensive place to "find yourself." 4) What are the job prospects for that degree? How likely is it that the student will be high in the distribution of the graduates? Will the anticipated salary permit repayment of debt and self-support? 5) Are the time-to-graduate estimates realistic? A surprisingly low percentage of students complete a degree in 4 years. 5-6 is more common and results in more debt... 6) Has the student learned to live within budget? There are many distractions at college. Spring Break trips add cost...