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Carnegie Mellon Univ, $40,300 per year. I have been transporting their sports teams the past few weeks. Just wow.
 

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( ͡° ͜ʖ ͡°)
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Let's put it this way...That's nearly what I paid for 4 years of school.
 

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Proud luddite
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If it's just tuition then yes, that's a bit high. But if it includes room, board and fees, then it's pretty much par for the course for private schools. My son is an incoming freshman at a private school so I know about this, in a painful way. And that's just the starting point...the Ivy League and top schools are closer to $50,000. Yikes!
 

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old_fuji said:
Let's put it this way...That's nearly what I paid for 4 years of school.

Yeah, I think that's actually more than it cost me for my 4 years. I cringe when I think about what it will cost when my 6 & 3 yr old get to that time.
 

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Just Plain Bitter
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Considering my kid goes to Oregon State University to the tune of about $5k tuition , hell yes that is expensive!
 

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"El Bwana"
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For a school like C-M, it sounds about right. Some Ivy League and smaller schools (Swarthmore) are over $50k. C-M degrees in EE, software and hardware engineering are in very high demand.
 

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I spent 15,000 a year my first two years to a state school. I transferred, switched majors and ending up spending about 11,000 per year. That's not just tuition. That's food, bills, tuition and books.

My 4 year degree cost about that much. Masters work, getting paid by the school, was only 2-3k a year.
 

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Private U. tuition is a voluntary and highly-progressive tax. If you really don't have that kind of money, then you don't have to pay it. There's enormous amounts of financial aid on a sliding scale well up into six figure incomes. And of course even if you CAN afford it, you still have the option of buying a perfectly good degree from a public university at about 1/6th the cost.

The only foolish play is having a modest income, but saving like hell to finance kids' private college tuition and therefore not getting the financial aid. That, of course, is what I am doing.
 

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Proud luddite
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dr hoo said:
And the average financial aid package is almost $29,000.
That's about what we got for a financial aid package to Seattle Univ. Total cost is about $41K, grants/scholarships/loans came out to about $31K, so we're paying about $10K out of pocket. It wouldn't be possible if it weren't for the 529 account that we set up years ago!

For those of you with young kids, look into a 529 college savings plan. Great tax advantages and it will make saving for college a relatively easy process.
 

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RagbraiNewB said:
The only foolish play is having a modest income, but saving like hell to finance kids' private college tuition and therefore not getting the financial aid. That, of course, is what I am doing.
Eh, everybody talks about how expensive the privates are. I really don't get it. I was accepted to 9 schools. 7 were private, 2 were public. The 2 publics, I had College Illinois prepaid tuition so they ended up being cheaper. BUT, if not for the prepaid tuition, the 2 publics would have been BY FAR the most expensive... by thousands of dollars per year
 

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estone2 said:
2 publics would have been BY FAR the most expensive... by thousands of dollars per year
<br>

Presumably because of grants financial aid or scholarships? The quoted sticker prices on pvts are by and large much higher than publics.
 

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Proud luddite
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estone2 said:
Eh, everybody talks about how expensive the privates are. I really don't get it. I was accepted to 9 schools. 7 were private, 2 were public. The 2 publics, I had College Illinois prepaid tuition so they ended up being cheaper. BUT, if not for the prepaid tuition, the 2 publics would have been BY FAR the most expensive... by thousands of dollars per year
That brings up a good point. In today's economy, many state universities are suffering huge funding cuts and massive financial problems, worse then they've ever experienced. As a result, a lot of families are seeing tuition, both in-state and out-ot-state, rise dramatically, with financial aid decreasing. Here in AZ, the Univ. of AZ just hiked their tuition 23% going into this school year, with more large increases to follow in the next few years. The Univ. of AZ is also likely going to scrap a free-tuition program that my son would have qualified for (the "AIMS Scholarship" for those of you who are familiar with it). Factor in the cuts in faculty, so classes are packed with students and often students can't get into the courses that they need to complete their degrees, and you see a lot of students in public schools taking 5 or more years to earn their degree. A lot of the private schools aren't in this position because they don't depend as much on public funding to operate. So the private schools may sound expensive, but if you are a good student and can qualify for some generous financial aid, it's worth it in a lot of cases to go private rather than public. That's how it was for my son anyway.
 

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I can't believe how much debt some of these kids are saddled with right out of college. There are some people spending enormous sums of cash and just arbitrarily hoping they're going to get some top notch job right out of school making big bucks, and often times it just doesn't happen. So they're stuck with student loans shelling out tons of interest every year. It seems to me that some of them are just barely treading water financially. Isn't that the exact opposite of what college is about? I wonder if in some cases those people weren't better off just starting work debt free instead of going to college.
 

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RoadBikeReview's Member
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RagbraiNewB said:
<br>

Presumably because of grants financial aid or scholarships? The quoted sticker prices on pvts are by and large much higher than publics.
Yup. The idea behind the privates' price tags is that when somebody really reach, with really bad grades comes in, they stick it to the guy. He gets to pay the whole $40k, $50k himself. A normal person, on the other hand, gets huge scholarships for having a decent GPA, or not being rich. In that way, the rich and dumb subsidize the poorer, normal people.

The idea behind a public is to make it as cheap as possible for everybody. Meaning no scholarships, one price fits all. This results in a higher price, generally. People write off privates as more expensive when they see the sticker price, but... there's a lot more to college $$$ than the sticker price.
 

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There've been a few studies about this. And yeah, kids who go to college now graduate with enough debt that it takes them quite a few years to catch up with kids who didn't go to college. Generally, they do catch and pass up those other kids in salary and net worth, but it takes a long, long time -- >10 years.
 

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ARP said:
Carnegie Mellon Univ, $40,300 per year. I have been transporting their sports teams the past few weeks. Just wow.
Yes...it's outrageously expensive. That said...nobody says you have to go to a college that costs that much. We can't all drive Bentleys.
 

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Sticky Valentine
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estone2 said:
Yup. The idea behind the privates' price tags is that when somebody really reach, with really bad grades comes in, they stick it to the guy. He gets to pay the whole $40k, $50k himself. A normal person, on the other hand, gets huge scholarships for having a decent GPA, or not being rich. In that way, the rich and dumb subsidize the poorer, normal people.

The idea behind a public is to make it as cheap as possible for everybody. Meaning no scholarships, one price fits all. This results in a higher price, generally. People write off privates as more expensive when they see the sticker price, but... there's a lot more to college $$$ than the sticker price.

Working at a small-ish private school I can attest to this to a degree. However, most of the students I meet with still need to pay for a good chunk of their education here with some kind of loan. At the end of the day the Cal State system is a smokin deal: great instructors and facilities at a bargain price, even if the cost is rising.

If it costs about $40k to go here for a year after all is said and done, grants and scholarships might cover 1/2 to 3/4 of that amount. The rest is coming from FAFSA in the form of loans which must be paid back.

I was able to finance undergrad and grad school, living expenses included, and came out about $50k in loans (5 year undergrad 3 year grad... I took my time). If I were to do that at my current place of employment I'd be much deeper in the hole than I am now.


kpe
 
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