College Choice Based on Cost

Somebody,

mho was that the tuition cost should only be a small item within a
College decision tree. The cost differential would be of little
consequence 30 years from now. The selection process for
once-in-a-life-time college experience should be cost blind.

Like I said, monthly housing cost around Berkeley must be near $40K a
year. Got to wonder why the Yuppy parents do not clear out and move to
Nevada or Houston to save money.

"somebody" <me.DeleteThis@privacy.net> wrote in message news:<c66mi4$8ch9t$1@ID-133138.news.uni-berlin.de>...
> "octo" <octogenarian.DeleteThis@hotmail.com> wrote in message
> news:a0eff15b.0404210853.365057ca@posting.google.com...
> > I have read several posts herein that parents are choosing Colleges
> > for their bright kids based on scholarship aid, travelling cost and
> > tuition.
> >
> > Their logic escapes me entirely since one can get low cost loans these
> > days for 100% of tuition/fees/R&B. Over time, the cost of a Harvard
> > degree is dirt cheap. Here is a quote 30 years ago:
> >
> > ...The price of a Harvard-Radcliffe education will climb to $5350 next
> > year, an increase of $325 over the 1973-74 rates, the Faculty
> > announced yesterday...
> >
> > That is less than typical monthly housing cost for a house within 50
> > kilometers around Berkeley!
>
> If you are saying that a Harvard education is worth going into debt for, I
> would agree. However the discussions here have not only focused on Harvard
> vs. other choices. In 1973 I suspect Berkeley was less than $1000/year and
> local housing was sub $300 per month
>
> There have been discussions of choices between say Berkeley and Rice for
> example or Caltech and MIT, or UCSD and Johns Hopkins in bioengineering. In
> these cases the dollar difference does come in and becomes an important
> factor. For example MIT is 42k and Caltech is 32k. Is MIT worth 10k more
> than Caltech? (Or as many would say that Caltech is much better than MIT).
> Or is a Brown degree worth 20k more than a Berkeley degree (for a Ca
> resident)?
>
> These are real questions that need to be sorted out by each student/parent.
> If life was as simple as deciding to go to Harvard or not, it would be
> simple decision.
 >> Stay informed about: College Choice Based on Cost 

On 4/21/04 6:53 PM, in article
a0eff15b.0404211753.7c484db RemoveThis @posting.google.com, "octo"
<octogenarian RemoveThis @hotmail.com> wrote:

>
> Like I said, monthly housing cost around Berkeley must be near $40K a
> year. Got to wonder why the Yuppy parents do not clear out and move to
> Nevada or Houston to save money.

It might be $40K a year if you buy a house or condo. But rent is closer to
$12K/year. And since fees are around $5K/academic year (in-state), you're
golden paying less than $20K/year.
 >> Stay informed about: College Choice Based on Cost 

Look at relative costs. In the mid 1970s an ivy-level college
cost $6K and starting bachelor job offer was $20K.
Now the numbers are $40K and $45K respectively.

Also there was high inflation in those days, so loans of any kind
rapidly became insignificant. These days loans do not shrink that fast.
 >> Stay informed about: College Choice Based on Cost 

Today's NY Times mentions that ivies and top state schools are losing the
battle with economic diversity. Despite affirmative action and its thinly
disguised legal substitutes, the fraction of familes in the the top 5% of
income (define as $150K in 2004) is increasing.
 >> Stay informed about: College Choice Based on Cost 

Rick,

Harvard charged 5K and 40K in 1974 to 2004.

How much a Berkeley Hills or Piedmont home cost in 1974 and 2004?

I still maintain that parents should let the children pick the best
fit college and ignore the cost. It is the childrens life, not the
parents any more.

rick303.TakeThisOut@hotmail.com (rick++) wrote in message news:<f7422d8e.0404220651.6f640eb7.TakeThisOut@posting.google.com>...
> Look at relative costs. In the mid 1970s an ivy-level college
> cost $6K and starting bachelor job offer was $20K.
> Now the numbers are $40K and $45K respectively.
>
> Also there was high inflation in those days, so loans of any kind
> rapidly became insignificant. These days loans do not shrink that fast.
 >> Stay informed about: College Choice Based on Cost 

"octo" <octogenarian.RemoveThis@hotmail.com> wrote in message
news:a0eff15b.0404221203.5c7ac019@posting.google.com...
> Rick,
>
> Harvard charged 5K and 40K in 1974 to 2004.
>
> How much a Berkeley Hills or Piedmont home cost in 1974 and 2004?

What does a cost of a home have to do with the cost of a college tuition?

>
> I still maintain that parents should let the children pick the best
> fit college and ignore the cost. It is the childrens life, not the
> parents any more.

You keep saying ignore the cost. Would you pay 40k+ to go to USC (Univ of
Southern Calif) when you could go to Berkeley for half the cost (unles you
are studying film or art or some such USC specialty) ? I submit to you that
Harvard is a special case, but other private colleges (all costing roughly
36-42k) does make one wonder about the worth of the high dollar amount. Or
would you pay 40k to go to Middlebury College (to pick an East Coast
example) when you can go to the College of William and Mary or a UVa for
half the cost even as a non-Va resident.

If you would then more power to you and your kids. You must have analyzed
the benefits of going to a private college in very great detail over a
person's lifetime. Would you mind sharing those details so we can truly
appreciate what you are saying.

>
> rick303.RemoveThis@hotmail.com (rick++) wrote in message
news:<f7422d8e.0404220651.6f640eb7.RemoveThis@posting.google.com>...
> > Look at relative costs. In the mid 1970s an ivy-level college
> > cost $6K and starting bachelor job offer was $20K.
> > Now the numbers are $40K and $45K respectively.
> >
> > Also there was high inflation in those days, so loans of any kind
> > rapidly became insignificant. These days loans do not shrink that fast.
 >> Stay informed about: College Choice Based on Cost 

rick303 DeleteThis @hotmail.com (rick++) wrote in message news:<f7422d8e.0404220651.6f640eb7 DeleteThis @posting.google.com>...
> Look at relative costs. In the mid 1970s an ivy-level college
> cost $6K and starting bachelor job offer was $20K.
> Now the numbers are $40K and $45K respectively.

Thanks for this information. I find the comparison telling.
>
> Also there was high inflation in those days, so loans of any kind
> rapidly became insignificant. These days loans do not shrink that fast.


Good point.

Sal
 >> Stay informed about: College Choice Based on Cost 

octogenarian.TakeThisOut@hotmail.com (octo) wrote in message news:<a0eff15b.0404210853.365057ca.TakeThisOut@posting.google.com>...
> I have read several posts herein that parents are choosing Colleges
> for their bright kids based on scholarship aid, travelling cost and
> tuition.
>
> Their logic escapes me entirely since one can get low cost loans these
> days for 100% of tuition/fees/R&B. Over time, the cost of a Harvard
> degree is dirt cheap. Here is a quote 30 years ago:


Over time, the cost of everything is dirt cheap. During the
depression, people could go to a restaurant and get a full meal for 25
cents. Does that mean that when I go out to dinner tonight, I should
not concern myself with my budget?

Sal
 >> Stay informed about: College Choice Based on Cost 

octogenarian.RemoveThis@hotmail.com (octo) wrote in message news:<a0eff15b.0404210853.365057ca.RemoveThis@posting.google.com>...
> I have read several posts herein that parents are choosing Colleges
> for their bright kids based on scholarship aid, travelling cost and
> tuition.
>
> Their logic escapes me entirely since one can get low cost loans these
> days for 100% of tuition/fees/R&B. Over time, the cost of a Harvard
> degree is dirt cheap. Here is a quote 30 years ago:
>
> ...The price of a Harvard-Radcliffe education will climb to $5350 next
> year, an increase of $325 over the 1973-74 rates, the Faculty
> announced yesterday...
>
> That is less than typical monthly housing cost for a house within 50
> kilometers around Berkeley!

Hmmmmm. The cost of housing in Berkeley. Lets say that a student
attended Berkeley for four years, in the early seventies, spending
approximately $350/year on fees, which I think is not too far off the
mark. Then the $20,000 saved could have been spent on a house near the
campus. Would have been a great investment. Possibly more valuable
than a Harvard education.

Sal
 >> Stay informed about: College Choice Based on Cost 

"somebody"

Take a deep breathe.

You would not attend USC on a full scholarship plus $20K in spending
money to study Nuclear Physics if you were accepted to Berkeley.

I have known parents who send their kids to a Ca state school over
UCLA or Berkely because they have a free ride with labels like
regent/presidential scholar. All are fresh immigrants with little
formal education.

My point was that kids studied hard and played by the rules for 18
years. Now, they are deprived of what they rightly deserve and will
never experience the best fit university life. For what? So their
parents do not want to co-sign their student loans?

Ask yourself a simple question. If you have all the money in the
world, would you send your kid to Brown or Berkeley?

BTW, I do know a friend who indeed sent his daughter to USC instead of
Berkeley. I was initially surprised as well but understood his logic
soon enough.


<me.RemoveThis@privacy.net> wrote in message news:<c69fan$9drc1$1@ID-133138.news.uni-berlin.de>...
> "octo" <octogenarian.RemoveThis@hotmail.com> wrote in message
> news:a0eff15b.0404221203.5c7ac019@posting.google.com...
> > Rick,
> >
> > Harvard charged 5K and 40K in 1974 to 2004.
> >
> > How much a Berkeley Hills or Piedmont home cost in 1974 and 2004?
>
> What does a cost of a home have to do with the cost of a college tuition?
>
> >
> > I still maintain that parents should let the children pick the best
> > fit college and ignore the cost. It is the childrens life, not the
> > parents any more.
>
> You keep saying ignore the cost. Would you pay 40k+ to go to USC (Univ of
> Southern Calif) when you could go to Berkeley for half the cost (unles you
> are studying film or art or some such USC specialty) ? I submit to you that
> Harvard is a special case, but other private colleges (all costing roughly
> 36-42k) does make one wonder about the worth of the high dollar amount. Or
> would you pay 40k to go to Middlebury College (to pick an East Coast
> example) when you can go to the College of William and Mary or a UVa for
> half the cost even as a non-Va resident.
>
> If you would then more power to you and your kids. You must have analyzed
> the benefits of going to a private college in very great detail over a
> person's lifetime. Would you mind sharing those details so we can truly
> appreciate what you are saying.
>
> >
> > rick303.RemoveThis@hotmail.com (rick++) wrote in message
> news:<f7422d8e.0404220651.6f640eb7.RemoveThis@posting.google.com>...
> > > Look at relative costs. In the mid 1970s an ivy-level college
> > > cost $6K and starting bachelor job offer was $20K.
> > > Now the numbers are $40K and $45K respectively.
> > >
> > > Also there was high inflation in those days, so loans of any kind
> > > rapidly became insignificant. These days loans do not shrink that fast.
 >> Stay informed about: College Choice Based on Cost 

Where is student learning, enjoyment and self expression weight in?

sunsol RemoveThis @prodigy.net (Sally) wrote in message news:<2398fe97.0404230512.2d3735d RemoveThis @posting.google.com>...
> octogenarian RemoveThis @hotmail.com (octo) wrote in message news:<a0eff15b.0404210853.365057ca RemoveThis @posting.google.com>...
> > I have read several posts herein that parents are choosing Colleges
> > for their bright kids based on scholarship aid, travelling cost and
> > tuition.
> >
> > Their logic escapes me entirely since one can get low cost loans these
> > days for 100% of tuition/fees/R&B. Over time, the cost of a Harvard
> > degree is dirt cheap. Here is a quote 30 years ago:
> >
> > ...The price of a Harvard-Radcliffe education will climb to $5350 next
> > year, an increase of $325 over the 1973-74 rates, the Faculty
> > announced yesterday...
> >
> > That is less than typical monthly housing cost for a house within 50
> > kilometers around Berkeley!
>
> Hmmmmm. The cost of housing in Berkeley. Lets say that a student
> attended Berkeley for four years, in the early seventies, spending
> approximately $350/year on fees, which I think is not too far off the
> mark. Then the $20,000 saved could have been spent on a house near the
> campus. Would have been a great investment. Possibly more valuable
> than a Harvard education.
>
> Sal
 >> Stay informed about: College Choice Based on Cost 

rick303 DeleteThis @hotmail.com.

I did some thinking. In 1974, average starting pay for a BSEE was
$13K. In 1978, we made an offer to a BSEE from UCLA at $16K. Company
was near Manhattan Beach South of LAX.

(rick++) wrote in message news:<f7422d8e.0404220651.6f640eb7 DeleteThis @posting.google.com>...
> Look at relative costs. In the mid 1970s an ivy-level college
> cost $6K and starting bachelor job offer was $20K.
> Now the numbers are $40K and $45K respectively.
>
> Also there was high inflation in those days, so loans of any kind
> rapidly became insignificant. These days loans do not shrink that fast.
 >> Stay informed about: College Choice Based on Cost 

> octogenarian DeleteThis @hotmail.com (octo) wrote in message news:<a0eff15b.0404210853.365057ca DeleteThis @posting.google.com>...
> > I have read several posts herein that parents are choosing Colleges
> > for their bright kids based on scholarship aid, travelling cost and
> > tuition.
> >
I suppose a better way for the kids to choose their colleges is to
base their decisions on the opinion of a Usenet stranger?

Seriously, octo, I'm happy that you are in the position that money is
no object for you, but that isn't the case in our family.

Fortunately, my son has made a decision that makes him very happy, is
financially comfortable for all of us, and was based upon his personal
needs. I'm extremely proud of how maturely he evaluated his options,
investigated his many wonderful opportunities -- by sitting in on
classes & seminars and tracking down faculty members and department
chairs -- and came to a solution that suited *him* very well indeed.

You know, he applied to Harvard knowing that it wasn't a great match
for his interests, but he didn't want to go through life wondering if
he would have been accepted there. Now he knows. He was much more
interested in Yale, but after visiting, he wasn't convinced that was
the best fit for himself, either.

His grandparents, who live in a culture where people are judged by the
brand name of the college their grandchildren attend, are devastated
that they won't have the bragging rights. I hated to see them so
disappointed, but after watching my son's face as he announced his
decision, I know he made the right choice. No, I won't be able to say
"my son goes to Harvard," although I suppose I could say "my son went
to Yale"... for a two-day visit, that is!

Maggie
 >> Stay informed about: College Choice Based on Cost