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Top universities conspired over pricing and aid

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Undergraduate tuition at Northwestern was more than $58,000 for the 2021-2022 academic year, with the full cost of attendance, including room and board, totaling nearly $80,000 per year. The full cost of a year at either University of Chicago or Notre Dame was more than $80,000. Each school has an endowment of $11 billion or more.

Think of the poor administrators.

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This should be surprising to nobody. Universities are a business first and foremost. People view them in different light than your typical business, but making money is their number 1 goal in the end. 

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23 minutes ago, ron883 said:

This should be surprising to nobody. Universities are a business first and foremost. People view them in different light than your typical business, but making money is their number 1 goal in the end. 

Still not great that they break the law.

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50 minutes ago, Quin said:

Still not great that they break the law.

And if the prices are being set at the top, the rest of the universities set their prices based on their peers and schools in the tiers above them.  So if the upper level is fixed, effectively all college pricing is fixed.

But let's hear again how the student loan program is A-Ok.

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If I was reading this correctly part of the problem is the collusion regarding the amounts of financial aid offered. Basically the schools didn't want to compete on price for top students.

I think we know that rich kids will have an advantage from cradle to grave. Better nutrition, better health care, access to enrichment activities, access to a network of wealthy people when seeking employment. Preferred admission into top universities is yet another perk. I may not like it but I'll be honest I think about my soon to be born grandson and it makes me happy knowing the financial situation he's being born into. Having a dad who is a Harvard Business School Baker scholar will open doors for him that I could never imagine. I'd be lying if I said I'd be against my daughter and son in law using those advantages. Hopefully I will be around to see him enroll in a top university. 

 

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7 hours ago, Texsox said:

If I was reading this correctly part of the problem is the collusion regarding the amounts of financial aid offered. Basically the schools didn't want to compete on price for top students.

I think we know that rich kids will have an advantage from cradle to grave. Better nutrition, better health care, access to enrichment activities, access to a network of wealthy people when seeking employment. Preferred admission into top universities is yet another perk. I may not like it but I'll be honest I think about my soon to be born grandson and it makes me happy knowing the financial situation he's being born into. Having a dad who is a Harvard Business School Baker scholar will open doors for him that I could never imagine. I'd be lying if I said I'd be against my daughter and son in law using those advantages. Hopefully I will be around to see him enroll in a top university. 

 

I was gonna say before I read the end of your post, I assume this is your son-in-law, because those genetics sure as hell didn't come from you Texsox! Ba-dum-ch

Edited by ron883
  • Haha 1

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7 hours ago, ron883 said:

I was gonna say before I read the end of your post, I assume this is your son-in-law, because those genetics sure as hell didn't come from you Texsox! Ba-dum-ch

Lol. My daughter jokes that in their circle of friends graduating from Urbana with honors was totally slumming. Besides being brilliant my son in law is also one of the most genuinely nice guys I've ever met. And I was very suspicious in the beginning. 

 

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19 hours ago, Texsox said:

If I was reading this correctly part of the problem is the collusion regarding the amounts of financial aid offered. Basically the schools didn't want to compete on price for top students.

I think we know that rich kids will have an advantage from cradle to grave. Better nutrition, better health care, access to enrichment activities, access to a network of wealthy people when seeking employment. Preferred admission into top universities is yet another perk. I may not like it but I'll be honest I think about my soon to be born grandson and it makes me happy knowing the financial situation he's being born into. Having a dad who is a Harvard Business School Baker scholar will open doors for him that I could never imagine. I'd be lying if I said I'd be against my daughter and son in law using those advantages. Hopefully I will be around to see him enroll in a top university. 

 

Education is going to be way different IMO for when your grandson goes to college. There probably will be no college as we know it now. Just my opinion as I think we can still have conflicting opinions in America, but the trend I feel will be going to no honors courses in high school and college, even the abolishment of the grade system as it will be deemed everybody deserves the same grade in a futuristic America because some don't' have the inherent advantages of others and it affects their grades. The poor to middle class kids won't be going to college as it will be way way way too expensive (and deemed not worth the $$) and kids will instead work on their own independent careers taking advantage of social media $$ earning platforms, computer related jobs and trying to market themselves. The traditional work week also is probably in jeopardy but that's another issue.

Let's face facts, Tex. Education is going to be way way way different in18 years than it is now. There might not even be any teachers. It might be all self taught. Or robots may revolutionize teaching, again if there is traditional education.  There also are major red flags about the health of future generations and current generations because of infectious disease and potential for more of these. It's just as easy to be pessimistic and say covid is just the start of yearly health criseses rather than optimistic and say this will go away and no more viruses are ever on the horizon.

What are your feelings about the future of education and my predictions here, Tex? Change is coming fast. And nobody can for sure say the current system of college will even exist when your grandson is of that age. Peace, out and may we all be safe!

Edited by greg775

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On 1/12/2022 at 1:17 PM, greg775 said:

Education is going to be way different IMO for when your grandson goes to college. There probably will be no college as we know it now. Just my opinion as I think we can still have conflicting opinions in America, but the trend I feel will be going to no honors courses in high school and college, even the abolishment of the grade system as it will be deemed everybody deserves the same grade in a futuristic America because some don't' have the inherent advantages of others and it affects their grades. The poor to middle class kids won't be going to college as it will be way way way too expensive (and deemed not worth the $$) and kids will instead work on their own independent careers taking advantage of social media $$ earning platforms, computer related jobs and trying to market themselves. The traditional work week also is probably in jeopardy but that's another issue.

Let's face facts, Tex. Education is going to be way way way different in18 years than it is now. There might not even be any teachers. It might be all self taught. Or robots may revolutionize teaching, again if there is traditional education.  There also are major red flags about the health of future generations and current generations because of infectious disease and potential for more of these. It's just as easy to be pessimistic and say covid is just the start of yearly health criseses rather than optimistic and say this will go away and no more viruses are ever on the horizon.

What are your feelings about the future of education and my predictions here, Tex? Change is coming fast. And nobody can for sure say the current system of college will even exist when your grandson is of that age. Peace, out and may we all be safe!

Change doesn't happen that fast.

Except for the price, college is pretty much the same now as it was 18 years ago. Or 32 years ago. Or probably 100 years ago...

 

Remember when we all watched the Jetsons or Back to the Future and thought we'd have robot maids or flying cars by now? LOL

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7 hours ago, Iwritecode said:

Change doesn't happen that fast.

Except for the price, college is pretty much the same now as it was 18 years ago. Or 32 years ago. Or probably 100 years ago...

 

Remember when we all watched the Jetsons or Back to the Future and thought we'd have robot maids or flying cars by now? LOL

I agree with you. I think we'll see some of the same stuff we see in other industries. More part time employees without benefits. Why hire high priced professors to teach underclass classes is their thought process.  I think there will be more of a makeover of college as a job training program. 

@greg775 I don't think education moves that fast.

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