<p>mom2collegekids–a lot of states have programs where kids can get their AA’s or years worth of college credits while in high school for free or at least at a very low cost and still participate in the Stafford loan program.</p>
<p>I’ve said this many times here before, backed it up with many sources on other threads, when compared job for job, salary for salary, the costs of college have risen in the same proportions and that the percent of salary back in the 70-80’s for the same job compared to the same colleges or similar colleges is exactly the same now as it was 30 years ago, actually it was .2% LESS now. Median household income is meaningless as a comparison because it doesn’t’ take into account the large number of low paying retail jobs or heck, even a second part time income into a home, etc. The stock market is down compared to 10 years ago. In 1982 the DJIA was 776, today it is 13,020.</p>
<p>If you compare the salary of a teacher, OB/GYN, plumber, etc. to the cost of a XYZ state school or ABC private school in 1982 to 2012 you will find that the ratio of salary to total costs of the school is the same.</p>
<p>argbargy and blueiguana–we aren’t getting any help either (other than loans everyone can get) but our kids did well in school, we targeted schools where they would qualify for a lot of merit aid and as a result will be paying almost nothing at their private, 4 year schools. DD is down to about $9000 net cost so far, DS is at about $10,000. They have been invited for scholar days and at the school DD is attending that will earn her at least another $1500 if not more. It can be done and IS done all the time. You just have to get over the false assumption that “prestige” on your sweatshirt matters to anyone but your parents :D.</p>
<p>@ SteveMA - Thanks for the advise. We looked at various options for S2 including schools that would offer merit. He is at our state flagship. In the end, the full tuition merit from OOS ended up comparable to our instate flagship once you added R&B, fees, travel, etc, so I’m not sure the prestige/sweatshirt analogy fits. We have S3 coming up next year and will also consider all options available to him. He’s a different student, different goals, different search, so who knows where his journey will lead?</p>
<p>Its pretty clear to me that Soltas has the losing side of the argument here. What they call “Bowen effects” (the desire for an institution to spend everything it can raise on “educational excellence, prestige, and influence”) will continue to drive the expense side and hence the cost. Without price discrimination by consumers (verses Cost Discrimination which is what Soltas’ article celebrates) there is no incentive for any institution to control costs. </p>
<p>And it not obvious to me that there has been any great increase quality of the educational product as a result of all the additional spending. Its pretty well known that for all the increase in K-12 spending standardized test scores haven’t risen. But I dont think there is any comparable measure of Undergrad educational quality. GRE may be a proxy, but its self selecting. </p>
<p>Its counterintutive but maybe Axelrod has a point. Maybe the lenders are the only ones left who can exercise any control.</p>
<p>When I went to college my family lived nicely on my dad’s salary. College could be funded by a wife’s second job. Now it takes both incomes to “make it” so there is no easy source of college money.</p>
<p>^it only takes 2 incomes to “make it” if you choose to live a lifestyle that requires that. Millions of families do not have 2 incomes and do just fine, including paying for college.</p>
<p>My wife hasn’t worked outside the home since marriage and we’ve paid for college up to now without any debt. Basically the asian approach of saving about 30+% of income and not consuming to income or above income can make college affordable, even at current prices.</p>
<p>I’ve never said characterized anyone as a “bragging status hound.” It’s an indication that you have no way to support your argument when you not only resort to ad hominem remarks, but also tell baldfaced lies.</p>
<p>Steve, I’m going to really have to disagree with you there. </p>
<p>Let’s assume a family’s take home pay is 50k with one income. Even if you go the 2 & 2 (community college and university) route in my state, it’s going to cost you about 60k per kid. So, we’ll say college costs a typical family $120k for school. Do you really think that’s possible on a 50k income, even if you make the correct “lifestyle choices”? Because I don’t.</p>
<p>Yes, I realize it varies by state (greatly) but I think those kind of generalizations really miss the whole problem.</p>
<h1>29 On the concurrent thread in which this statement was made, you said it spoke for you in a followup post. Are you now saying it doesn’t? When you make statements, people take them at face value.</h1>
<p>Consider Lowell, MA where the median household income is under $40K. They have a community college and a state university. The community college should cost around $7,000 per year (assuming 30 credits at $170/credit + fees) with $2,400 returned from the American Opportunity Credit. Tuition and fees at the state university are $12K/year. So a student could get through 4 years with $30K for tuition and fees. There are costs for books and other things too but I think that it could be done for quite a bit less than $60K/kid net of tax credits. There would likely be grant and loan aid available too at this income level.</p>
<p>BC, I already said I recognize the fact that it varies by state. There is no way to get a 4 year degree in my state for the majority of people (that I know of) for $30k because most schools are not within commuting distance. </p>
<p>With a family income of $50k wouldn’t one be hard pressed to pay much of anything for college? </p>
<p>My impression is it is the family’s making $150 - $200k per year that are get squeezed.</p>
<p>Many of the schools we looked at have tables on their financial aid pages (like Duke) showing $60k and under family income getting a free ride and those over $150K getting very little help. </p>
<p>I took a look at the article, and realized that I don’t have the patience to read the links and figure out how the author derives the conclusions. So I leave it to the rest of you to sort that out. My specific question is: Which students are the author discussing? Recent HS grads or the true “average” college student who is in his/her mid-20’s, working full-time, and studying part-time?</p>
<p>romanigypsyeyes–at $50,000 you would receive substantial financial aid from almost every college in the country, and at many you wouldn’t pay a dime, unless you chose the CC route where you would pay full freight. I just did a search for MI schools, 4 year schools, there are 63 that showed up. I picked a random school, Aquinas, did the NPC for a family of 4 making $50,000 with $10,000 in assets with one child in school living on campus. Their EFC was $7000. The student can easily earn 1/2 of that with summer jobs and on campus jobs during the year and the savings in food alone for a teenager at home will almost make up the difference.</p>
<p>The wife and I were just discussing how much we will save when our son goes to college. Not an ounce of fat and he can empty out the refrigerator and pantry in a day. We reminisced about the pre-son days when we could hit Kroger once a week and feed off that haul for a week.</p>
<p>Back on topic…</p>
<p>Perhaps I just checked the right bunch of schools but I found those that only make $50k/yr. would be hard pressed to pay much if anything for college.</p>
<p>I know if our family income was that low I wouldn’t be worrying about how we were going to pay for college. We would just send him to college that offered to pick up most of the tab.</p>