<p>Interesting.... perhaps after a few years CMU's endowment will be large enough and its programs prestigious enough so that it will lower tuition. </p>
<p>As of now, the discrepancy between our prestige and endowment is comparatively large as you can see that other top 25 colleges usually have endowments in the 1 billion and above (with the exception of Georgetown).</p>
<p>I would also agree that the differences between the listed schools are marginal. You can also tell that many of these expensive colleges are very reputable and are considered CMU's peers. Perhaps we should have had a 6% increase instead or 4% all around, who knows. So far it our tuition still seems on par with the likes of Ivy Leagues and the such.</p>
<p>CMU is really up on the latest price hikes. I will give them that. I just received literature from them that notes the 2006-2007 expected tuition, room, board, books and supplies and fees will be $46,268 PER YEAR! Moreover, this doesn't take cost of living into account.</p>
<p>although cmu claims 50% of students receive finacial aid, most students arnt getting the amout to make this place affortable. many of my classmates got little, 2-5 thousand, which is better than nothing, but not serious support. all of us expect to be in a MOUND of debt after we graduate. btw on a side note- they are increaing housing and dining prices, becuause dining is going bankrupt, and the foods not that great!</p>
<p>First of all, it is not a "claim", it is a fact. They will match aid from peers. If you want to blame CMU for high prices, start with our peers. </p>
<p>kap: Do you attend CMU (because there is information available for students with your student ID). Our dining is not going "bankrupt". We are now doing very well and our prestige is rising nationally. </p>
<p>I don't understand how people can blame CMU for high prices when our other peers have almost exactly the same prices. We will MATCH your aid with any one of our peers and if you call the office; we will work with you the best we can.</p>
<p>Most people get exactly their EFC requirement and for that you can blame your EFC instead of the college. </p>
<p>Carnegie Mellon is not in the "Most amount of debt after graduating" list and we won't be in the future because this tuition rise is mostly to hurt internationals (to be blunt). They are raising financial aid for current and prospective applicants.</p>
<p>hey im not trying to be argumentative, im just tellin these people what i KNOW, as a cmu freshman. the dining thing is skuttle thats been going around campus, including people who work with cmu dining. as to debt, i didnt say we'd be in more, just that the price is hefty. especially when considering the finacial situations in certin programs (my program cant buy newer equitment for students with the current budget, something I KNOW b.c the head of my program told us). all im saying is what i KNOW as a student, its a great education, i love it, it just carries a finacial burden</p>
<p>I appreciate your comment and I agree the price is high but it is quite equal compared to our peers (as 211clk helped show).</p>
<p>What is your program? Unless it is Information Systems (which might soon get scrapped since it is so small and basically just a watered down version of computer science).</p>
<p>I'm sorry you are forced to take out loans for college but my roommate and many people here I know at New House are not graduating with much debt at all. My roommate got 30k in GRANTS and is paying the rest of the 10k himself. Look at GWU and other schools on the top 50 most debted schools to see how bad other people have it.</p>
<p>
[quote]
What is your program? Unless it is Information Systems (which might soon get scrapped since it is so small and basically just a watered down version of computer science).
[/quote]
</p>
<p>scrapped eh? So they're just going to eliminate it altogether? I'll consider this if I get accepted to the program.</p>
<p>What might help is not to think of the amount you borrow in absolute terms, rather what will it cost you to repay and for how long.</p>
<p>Example: son just graduated with nearly 40K owed. Of that $31,875 we consolidated into 3.5% interest loan. Most people would faint at that # but here's his repayment schedule: $93/month first 4 years, then $217/month for 16 years. 20 year repayment is standard. You can repay faster if you want.</p>
<p>So to an extent what industry you eventually work in (largely determined by what you major in) will decide if this is a lot of money or not. CMU is loaded with engineering, CS, science, business etc majors who will most likely be able to handle a decent debt without much problem.</p>
<p>Accepted, is that true about IS? Son just graduated with this major (plus CS and MISM)....yes it is a small program, I think part of the reason is high school kids don't know what it is. In some ways it is "watered down computer science" in that you don't need the difficult killer CS courses like 15-211 and 212, but it's a very practical and marketable major....think of it as merging technology and business. The grads (I went to IS graduation last May) had fantastic jobs for the most part, consulting and analyst jobs at top NYC financial institution, banks, etc----perhaps it's going back into H&SS where it was 4 or 5 years ago before it became its own (small) college within CMU. It's ranked #2 behind MIT so I can't imagine they'd totally scrap it, maybe revamp it or something.</p>
<p>"
scrapped eh? So they're just going to eliminate it altogether? I'll consider this if I get accepted to the program."</p>
<p>I don't think they'll "scrap" it either, I was just responding quickly in order to get kap to tell me what his program was. I still don't believe that kap's program can't afford things because we always buy the best and most technologically advanced hardware and software. I find it curious that I pmed him and he still won't respond to me.</p>
<p>Anyways, what they may do to IS is move it into SCS (which is what almost happened when they moved Econ into Tepper). This should be seen as a positive thing (not a negative) and perhaps make IS a "track" inside SCS. </p>
<p>I shouldn't have said "watered down" in a negative tone. Basically it is a "mix" of business and SCS with less focus on coding/concepts of CS. The major is very marketable and such grads do work for top consulting firms in NYC. They will never get rid of the major altogether but perhaps move it into another department such as SCS or even Tepper.</p>
<p>kap brings up a good point. Those seeking to appeal their financial aid package should probably ask directly who the peer institutions are considered to be (not state schools, not LACs, not every other private university, not ???). We went through that process last year, submitting several offers of higher financial aid. None must have been considered peers, however, because CMU matched a $20K/year offer with $4K. Just be aware.</p>
<p>Thank you so much for your post regarding loan payoff. My S is a junior and will graduate with that much debt, (if not a bit more). It was helpful to see the payoff amount and rate to put things in perspective. Not being a "numbers" person this is a big help to me. Thanks again.</p>
<p>2331clk is very helpful. I agree that huge amounts of debt can be paid off pretty easily with a CMU degree (paying 55k-70sk) avg starting and then rising fast over a couple years. Oh and the salary figures on the CMU website does NOT include bonuses either. I've had several seniors tell me their job info and it seems the avg is around a total of 60+k.</p>
<p>Yeah Accepted that's about right. I can tell you, and I only mention this for comparison purposes since I think S's job is typical for CMU grads in CS, business, engineering, etc...He started 60K this past August. Got 10K "signing" bonus; also 10K (prorated) end of year bonus; plus 9% year end raise to $65,400...these were all standard for the company, all first year hires got the same. (next year's year end bonus for him will be performance related and could be much higher than 10K). </p>
<p>An important point----> just consider that 9% pay increase of $5400... let's be pessimistic and say it's $3600 after taxes, which is $300 per month. So that single raise taken each year, just 4 months after being hired, is more than enough to cover his entire school loan over 20 years! I believe that's the better way of thinking when talking about large sums...how does it break down monthly.</p>
<p>wct, when your son's making 5 million a picture you can archive this thread and have a good laugh....</p>