Re:Why Is College in America So Expensive?
by paulddraper on Tuesday September 11, 2018 @07:00PM
(#17964171)
> the main driver is the availability of student loans
100% this.
If you want to have an affordable college education, you can have one.
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1. I'm from Florida and the best school in the state is (arguably) the University of Florida. In-state tuition is $3,191 per semester, so $25k for four years. And that's the amount if your GPA/SAT/ACT doesn't qualify for the relatively easy 75% Bright Futures state scholarships or more-difficult-but-still-common 100% scholarships.
2. I went to Brigham Young University (private school) in Utah which is $5,620 per semester, so $45k for four years. And that's assuming your GPA/SAT/ACT doesn't qualify for the easy 50% scholarships or the hard 100% scholarship.
Text book are pricey, but there are ways to avoid paying the bulk of the costs. E.g. rentals, buying used. UF's libraries have text books with 3hr checkout times.
A three-month $10/hr 40hr/wk summer job is $5k pre-tax. A nine-month $10/hr 10hr/wk part-time job is another $4k. Plus, the IRS will give you $2.5k per year via the American Opportunity Credit.
Naturally, there's also food, rent, and transportation, but those exist regardless of college attendance. (Though finding cheap shared living is far easier in college towns.)
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Coming out of a undergrad with $50k+ in student loans is not done because you have to. It is done because you choose to. Given the availability of student loans, lots of people choose to.
100% this.
If you want to have an affordable college education, you can have one.
---
1. I'm from Florida and the best school in the state is (arguably) the University of Florida. In-state tuition is $3,191 per semester, so $25k for four years. And that's the amount if your GPA/SAT/ACT doesn't qualify for the relatively easy 75% Bright Futures state scholarships or more-difficult-but-still-common 100% scholarships.
2. I went to Brigham Young University (private school) in Utah which is $5,620 per semester, so $45k for four years. And that's assuming your GPA/SAT/ACT doesn't qualify for the easy 50% scholarships or the hard 100% scholarship.
Text book are pricey, but there are ways to avoid paying the bulk of the costs. E.g. rentals, buying used. UF's libraries have text books with 3hr checkout times.
A three-month $10/hr 40hr/wk summer job is $5k pre-tax. A nine-month $10/hr 10hr/wk part-time job is another $4k. Plus, the IRS will give you $2.5k per year via the American Opportunity Credit.
Naturally, there's also food, rent, and transportation, but those exist regardless of college attendance. (Though finding cheap shared living is far easier in college towns.)
---
Coming out of a undergrad with $50k+ in student loans is not done because you have to. It is done because you choose to. Given the availability of student loans, lots of people choose to.