Re:More than 1M fewer students are in college, the lowest nu...
by ljhsiung on Thursday January 13, 2022 @11:56AM
(#29923133)
Can I see your source?
Here's mine [1] -- at UIUC, full tuition is 35-50k depending on residency. 30% get free tuition (given their family's net worth <50k/gross income < 67k) and 40% got some form of a loan averaging 20k.
Assuming very generous loans (unlikely), 30% of people paid full price, or about 10,000 students (undergrad class size is 30-35k). That's not trivial, but definitely off your 10% claim.
(Here [2] it is more succinctly, and not in a large picturesque landing page advertisement fashion)
Now some anecdata-- I paid 35k. Every college friend I knew also paid full, except one, who had crazy interest rates on her loan. I recognize my friend group may be a bubble, so I preface this with "anecdata" and gave you some sources on my own.
Barely anyone pays full tuition.
Look up the statistics for any of the big colleges that share numbers. It’s usually less than 10% of students paying full tuition. Significant numbers of students pay under $10K and many pay basically nothing at all.
It’s still too expensive, but the myth that everybody is paying $50K/year at these colleges needs to die. It ends up convincing a lot of people who shouldn’t be paying that much that everyone else is doing it and therefore they should too.