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View Diary: Now the rich get smarter and (16 comments)

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  •  marking time - a family with $100,000 of (1+ / 0-)
    Recommended by:
    coffeetalk

    annual income can't afford $50,000 a year for college which would represent a significant majority of their after tax income. Unless a family has done a good job saving for college, or is willing to borrow extensively, even earning $100,000 a year isn't going to make college affordable.

    College is outrageously expensive. It cost me just under $500,000, after tax, to send my two children through college and professional graduate school. Colleges need to think about ways that students can earn a BS/BA degree while spending significantly less time on campus. The cost of living at college is one of the major contributors to the expense.

    "let's talk about that"

    by VClib on Wed May 08, 2013 at 07:41:29 AM PDT

    [ Parent ]

    •  College prices have inflated... (2+ / 0-)
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      VClib, nextstep

      ...and will continue to do so until they start pushing down demand.  They would have done so a long time ago except the government is willing to loan people huge amounts of money they'll never  be able to pay back.

      Demand reduction will necessarily come from those who can least afford the cost increases, because that's necessarily where all demand destruction occurs.

      •  MG - I agree (1+ / 0-)
        Recommended by:
        coffeetalk

        I would think that with what the Internet can provide the requirement to be on campus could be shortened from 12 quarters to 6-8, depending on the major. This could lower the cost for families and also allow colleges to increase enrollment. We are much too tied to a four year on campus BS/BA model.

        "let's talk about that"

        by VClib on Wed May 08, 2013 at 09:44:52 AM PDT

        [ Parent ]

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