<p>Called one of the most significant investments in higher education since the G.I. Bill, the Heath Care and Education Reconciliation Act of 2010 is finally diverting money toward something college students can cheer about. President Obama touts more than $60 billion in savings over the next 10 years due to the new law, which in theory would be used to boost Pell grants for students and other education efforts.</p>
<p>…or universities could just learn how to financially run an institution. But that’s for another day.</p>
<p>some of the 60 billion is actually going into health care savings!!!</p>
<p>This would be a really interesting contrarian investment opportunity. Find banks that have past revenues overweighted in student loan processing fees and short them or buy puts. On the other hand, SLM with a market cap of $6B looks relatively strong given the news.</p>
<p>So instead of making the colleges practice fiscal restraint and asking students to pay tuition, we will pass a “health care bill” that will raise taxes, so we can earmark a few (60) billion dollars to expand another federal/socialist program (read pell grants) that will ensure the steady progression of insane pricing practices of todays universities.</p>
<p>Lets celebrate</p>
<p>Jfl2010, I completely agree. Let’s give more money to folks who don’t know how to manage their money in the first place. It is just as insane as the economic stimulus act giving $600 to everyone as if it were going to change anyone’s life or improve the economy.</p>
<p>“So instead of making the colleges practice fiscal restraint and asking students to pay tuition, we will pass a “health care bill” that will raise taxes, so we can earmark a few (60) billion dollars to expand another federal/socialist program (read pell grants) that will ensure the steady progression of insane pricing practices of todays universities.”</p>
<p>Not to mention an ever increasing reliance on government money, causing yet another addition permenant addition to the government, which when in 20 years they fair, will be be another great black hole for tax money. </p>
<p>Hallelujah!</p>
<p>@jfl2010</p>
<p>do you seriously think college students will demand lower tuition…and get it? too many people tolerate and, unfortunately, are used to paying high rates for education</p>
<p>the situation is ridiculous, and the truth is that only the government is left to try to help; and that is too bad</p>
<p>we all wish that people would rise in anger and win, but that simply has not happened yet…no one is going to boycott colleges to a point where they cannot run</p>
<p>Ok I’ll make this simple. 60 billion over 10 years is on average 6 billion a year. Via wiki, there are 14,261,778 higher education students ([Higher</a> education in the United States - Wikipedia, the free encyclopedia](<a href=“http://en.wikipedia.org/wiki/Higher_education_in_the_United_States]Higher”>Higher education in the United States - Wikipedia) ). 6 billion / 14261778 is about 421. Nothing, when it comes to paying for college.</p>
<p>Umm not really that simple. First, thats just an ADDITIONAL 60 billion not just ONLY 60 Billion.
Second, and with all due respect, its thinking like that got us into this mess. 60 billion here 60 billion there…well you know the rest.</p>
<p>Siglio, I don’t expect the students to demand lower tuition, but a big part of the tuition increases over the years have stemmed from the fact that very few people pay the full sticker price because of financial aid. So in reality, the only cost that matters to many is not the stated price but the price they will pay.
This has lead to a low amount of muted outrage on the part of students. But if they had to pay the sticker price then you bet there would be more competition between colleges to offer a reasonably priced product.</p>
<p>If people cant afford to attend a private college, why cant they go to their state college? Why do the taxpayers have to make public and private schools available to everybody. What ever happened to saving for college? If you receive pell grants there is no incentive whatsoever to attend a less expensive college. The system is so screwed up.</p>
<p>"If people cant afford to attend a private college, why cant they go to their state college? Why do the taxpayers have to make public and private schools available to everybody. What ever happened to saving for college? If you receive pell grants there is no incentive whatsoever to attend a less expensive college. The system is so screwed up. "</p>
<p>yessssssssssssss, agreed. no one HAS to go to fancy, private schools. you know what it’s going to cost you to go when you apply. don’t bother if you don’t have the $ for it.</p>
<p>
If people paid sticker price, more people would go to community college and state schools would fill up, but most pricey school will still be able to fill up spots with high-achieving kids (or not) who can pay in full. Yes, there would be more outrage, but I doubt it would have more effect than the whole controversy over textbook prices.</p>
<p>Remember that Pell Grants are only about $6000 max now. The grant would only increase it to a couple of thousands or so per student. That’s hardly enough for “fancy private schools.”</p>
<p>Also:
“Students with a total family income up to $50,000 may be eligible for Pell Grants, though most Pell funding goes to students with a total family income below $20,000.”</p>
<p>"In the 2008 academic year, it is estimated that the average Pell Grant award will be $2,770, which covers approximately 42% of tuition and related expenses in the average U.S. four-year public college. "</p>
<p>I believe your facts are correct, but who (specifically) is going to pay for it?</p>
<p>This is ridiculous. Have you even tried to get into a state school? The demand is so high, they have become very selective. Try it.
I quite frankly don’t qualifiy for any federal funding, other than loans. I wish I could get some of the pie.
I’m tired of working my ass off and and getting nothing. My money funds everyone else. When is the middle of the road person like myself ever going to get any of the government breaks that so many others get. End of rant.</p>
<p>M&S, are you saying that the SUNY’s are too selective? I don’t know what your circumstances are but it seems to me that, collectively, they accept a huge range of stats and backgrounds. And their instate rates are certainly subsidized for everyone, not just the lower income brackets! Even if you’re full pay and no merit aid, the cost is still pretty reasonable and the breaks you’re looking for from the feds will come in the form of tax credits. Worth looking into.</p>
<p>@sk8rmom</p>
<p>My daughter applied to 2 SUNY schools 2 years ago and got in. No merit, no nothing, no incentive to go there. She was ranked number 3 in her class, a very competetive student. OOS schools offered her enough merit money to make going OOS more affordable than instate. What ever happen to the regent scholarships the NY use to give out? We pay taxes here and really get nothing if you are middle class. No PELL, TAP, nothing. My D chose a private school.</p>
<p>My friends now who have kids looking to get into SUNY are having a hard time. They were told that there is a very long waitlist to get in. Because of the economy more people are applying and they can afford t be more selective in their acceptance of a student.
So what does one do then?</p>
<p>Hmmm…I haven’t heard of many kids waitlisted at SUNY’s, but perhaps the friend’s child applied late or chose the more “reachy” ones like Bing and Geneseo? (For benefit of non-NY’s, these two do not offer merit aid to freshmen.) My D and her friends applied last around October last year - which was in the midst of deep recession, an application surge, and a record number of HS seniors - and had no trouble getting accepted to UB, Oneonta, Oswego, Brockport, Cortland, Plattsburg, and Potsdam with decent stats (top 10%, 90+ averages). A handful were admitted to Bing and Geneseo, though D didn’t apply there. So, it’s hard to say what’s happening with your friends but many of the SUNY’s routinely go to their waitlists since, in the end, so many kids don’t want to go to their safety schools. Last year there was a “space availability” survey that came out in May, just after decision deadlines, and several SUNY’s were listed. I would have them stay in contact with their admissions offices and be on the lookout for that survey. Here’s the link to the currently blank list:</p>
<p>[Space</a> Availability Survey Results 2010](<a href=“http://www.nacacnet.org/PublicationsResources/Research/SpaceAvailabiltySurvey/Pages/SpaceSurveyResults.aspx]Space”>http://www.nacacnet.org/PublicationsResources/Research/SpaceAvailabiltySurvey/Pages/SpaceSurveyResults.aspx)</p>
<p>The old Regents scholarships that we got were increased in value but became limited to 1-2 per school (enrollment based, I think). Can’t remember the name right now, but they’re listed somewhere on the HESC website…I’ve never heard of anyone at our HS getting them, so perhaps not all of the districts participate (the awardees are chosen by the HS, within certain parameters). The Lottery Scholarship was also a good one ($4K, renewable), but I think they cut the funding for it after last year.</p>
<p>TAP actually does cover the middle class - but maybe not what you consider middle class? I believe the award cutoff is around $80K, though awards at that level are only a few hundred dollars a year. I’m sorry you were disappointed with government aid but Pell and TAP are clearly meant to help the lower income brackets and it’s unfortunate this isn’t common knowledge before college search time rolls around! I’d love it if this were part of pre-school orientation, lol, and I make it a point to share this info with family who have younger kids. Anyway, glad your D found a school she’s happy with!</p>