Good article in Forbes on the true cost of college. That new US Education Dept database with college costs, typical amount debt at graduation, starting salaries at graduation and mid-career income is fantastic. Lower income scholarship students at elite schools often graduate with very little debt. On the other hand, if you’re a parent with the where-with-all to pay full tuition at an expensive private school, I’d be evaluating if that $300,000 might be better allocated to a trust invested in an index fund while junior attends State U. There’s often very little difference in the starting salaries and lifetime incomes for public vs. expensive private colleges. For example, I’d have a hard time recommending my alma mater at current pricing. It now costs the average student $80,000 more over 4 years vs. State U with little difference in starting salaries and mid-career income.
Friends of mine and their daughter needed to decide between UCONN instate and Bentley up in the Boston area. This was 6 years ago. The parents had to pony up $500 to find out what financial aid they’d get. Tough choice at $500 a whack. Should have paid the $1000 to see. The parents did not have college educations. The daughter wanted Bentley. I had a bit of a say in supporting her.
Bentley was $200k versus UCONN’s $100k. Bentley was opted for and the report came back Bentley would pick up $160k of the cost. The family was low-income. UCONN instate would have cost more. But we will never fully know.
The only reason to go to Bentley over UCONN otherwise was to make contacts in Boston.
Bentley is ranked as a regional school. UCONN is around 50 or 70 in the top 100 US universities. It looked at first as if UCONN was $100k less expensive.
Check the median earnings for Bentley grads ($112k/yr) vs. UConn ($76k/yr). Like I said, industry seems to like Bentley grads.
Note that the Education Dept database only includes students getting Pell grants (i.e., low-income students). They’re not measuring kids majoring in “pre-Dad” (i.e., joining the family business,)
I think it was during the 08-09 recession the Gov of Connecticut voluntarily took a pay cut to help out the state’s budget situation. Someone asked the UConn basketball coach, also a state employee, if he would take a pay cut. The coach thundered that he would not take a cut of any sort, he wanted every nickle.
Ah, the net is a wonderful thing.
Found an interesting article about how much UConn subsidizes athletics. It doesn’t provide a clean number for basketball, but it does lay out the millions per year that the university subsidizes the football program.
UCONN football is another matter. Our quarterback got shot and killed some years ago. That was when we had a bit of hope. The hope did not last after that.
A bachelor’s degree in business is only worthwhile if: 1. you know someone, or your family is connected. 2. you work your way up in a company and do it online to get a promotion. 3. Business degree: CPA
That (long) article said that UConn wants to put more into football, as the money is much bigger in football than in basketball. (time to wind up the snark machine) maybe if they double the subsidies to football, they will have more of a showpiece and tickets and TV contracts will recover half of the increase in subsidy?