View single post by Principal_Raditch
 Posted: Mon Feb 8th, 2021 01:39 pm
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Joined: Mon Feb 18th, 2008
Posts: 7403
KGB wrote: I don't think there's really a good answer here.  I'm normally a personal responsibility guy and I think this opens up a huge can of worms with regards to past and future student loans, but we can't ignore the predatory nature of the student loan/higher education cabal.  They've sold a generation of teenagers, and their parents, on the concept of spending six figures to get a worthless "studies" degree.  The colleges and universities have enriched themselves greatly while so many students get out of school and are in a financial hole from which they'll have great difficulty extricating themselves.  This has cascade effects for family and community formation that affect us all.  We need a "Great Reset" in higher education, and I'm inclined to promote srossi's version of it, but that doesn't mean we can ignore the impact all this debt is having on society.  
I never understood the idea of spending higher amounts for the private colleges unless for some reason there was a specialty degree that wasn't available at a public equivalent.  Nursing is a good example.

So around here we have @ 11 or 12 nursing programs. At the low end you have the 2 year Associates RN or ADN at the local JUCO. You're probably outlaying 8-10k total. Then midrange you have KU or UMKC, the local public 4 years. Then you're dropping @ 35-40 for the 4 years in tuition. At the high end you have private colleges like Rockhurst, William Jewell, Avila etc...There you're dropping well over 100k for the tuition over 4 years.

At graduation though, everyone gets the same going rate in town for a new grad. Then once you start as an RN, no one gives a shit anymore where you went to school. It's which hospital and which unit you work on that becomes the bigger factor. My stepdaughter's undergrad,...tuition over 4 years was maybe 25k total between JUCO and KU. She got into Med School the same as the person who dropped 4-5x that amount for an undergrad at a private college. 

I get the debt load for the medical degree...the earning potential justifies the 250k outlay...since I know in my kids case, once she's done residency, she's looking at min 350k a year to start. Don't get laying 6 figures out for the undergrad though. 

Last edited on Mon Feb 8th, 2021 01:40 pm by Principal_Raditch