Tuition rates at UNT and other universities are skyrocketing

[ColoradoEagle]

On 5/21/2019 at 4:37 PM, KRAM1 said:

Typical whine. Always someone else’s fault...always not fair. Responsibility is always for someone else. Got it!

By the way..just met a 19 year old from Australia that is on a two-month holiday from his job...yep two months...who has been working since age 14 and has saved enough from his paychecks to pay cash (about $10,000 Australian) for this two-month vacation and has two years of college paid for with additional savings. Kid is going to pay 100% of his own college expenses..debt free. So, tell me again why student loan debt is a must and why things are so different today! BS on this boomer garbage. Responsibility and proper planning know no age and is not “out of style” as you seem to think. Fun facts for kids.  

[SteaminWillieBeamin]

According to ZipRecruiter - the average hourly wage in Texas for teens is $12. 

https://www.ziprecruiter.com/Salaries/Teenage-Salary--in-Texas

Obviously, I cannot vouch for that.  However, it feels accurate enough, but really, what do I know? I would think that one of the random ass stores in the Golden Triangle would not be paying that rate, but working on UNT campus may. There is a job opening problem too - where are 55k students in Denton going to work? You think there are that many part time jobs?  I don't.

But going to school full time and working part time will not pay that $26k. It should pay the living expenses... but still the average cost after aid is $14k a year. That may end up being loans accumulating over that 5 years. Only 50% of undergraduates finish their degree in 5 years. 

You end up with a ~$350 a month payment over 30 years. That is pretty aggressive for a new college grad... so they may defer their payments and it snowballs from there.  Especially since only death can eliminate the debt. You cannot file bankruptcy if you are a in a truly rough spot - it is with you forever. 
 

Payment Summary

NUMBER OF PAYMENTS	MONTHLY PAYMENT	TOTAL PRINCIPAL PAID	TOTAL INTEREST PAID	TOTAL PAID
360	$344.36	$70,000.00	$53,968.85	$123,968.85

 

There is a tipping point where the loan amount unreasonable.  I think coming out with $25k is a $125 month payment. 

But even with all of that said - there is nothing wrong with calling out how unreasonable the tuition rates are. Until the great recession, the state subsidized the upper education a lot more. Having and educated work force is good for everyone - especially American companies. Just standing on the sideline and pointing at college kids and telling them they are wimps is not helpful. Ignoring the realities because it doesn't fit your narrative is not helpful either.  

We should be subsidizing education better. 

""Texas's financial support per student for higher education was down 23 percent in fiscal 2018 compared with fiscal 2008, which was just before the effects of the Great Recession. That is after adjusting for inflation," said Barb Rosewicz, director of the Pew Charitable Trusts' Fiscal 50 Project." 

https://www.houstonpublicmedia.org/articles/news/education-news/2019/06/06/335869/texas-spending-on-higher-ed-has-yet-to-recover-from-great-recession-pew-report-finds/
 

Edited March 10, 2021 by SteaminWillieBeamin

[TheTastyGreek]

1 hour ago, Hunter Green said:

Now, Kram. You can't offer alternatives on this board or heaven forbid, a different opinion. You're an old fart who cant find his ass with both hands. You and Biden. Sheesh!

No politics. 

One week suspension.