UT to expand Financial Aid for Lower Income students

Jdhmills

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roto

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roto

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Not sure what you mean by top students, but if you are talking kids smart enough to get into places like Rice, Stanford, Ivy's etc, those kids would have a plethora of scholarship options at Texas if they so choose.
Not true. UT is one of the hardest schools to get scholarships. Plus, there is still many students at UT that don't belong there.
 

DuvalHorn

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From the article:

"The funding, which will be used to create a new financial aid endowment, will also let UT-Austin alleviate tuition costs for students whose families earn up to $125,000 annually, if they demonstrate financial need."
 
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LoneStar

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Interesting. I wonder if tuition will rise for the rest of the students?

I also wonder if all the “loans” given by the govt that artificially rose tutition costs will continue to artificially inflate?

And we wonder why young people are moving toward socialism. When you have to pay 20-30% income tax after graduation from college and pay off $100k plus in loans you are basically paying 50-60% income tax anyway.

We are breaking our young people with our ridiculous fiscal policies.

Get ready for the bubble to burst worse that it did in 2008!! We are living in a fake economic boom based on bad debt and bad credit—again
 

Jdhmills

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If you do the simple math of 8600 students at 10k a year, that 160 million doesn't go very far. I think most of the tuition is still going to be paid for via eligibility for federal programs rather than this endowment allocation.

Due to increased oil in the Permian the University endowment is now valued at over 22 billion, so this is chump change.
 
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seghorn

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Interesting. I wonder if tuition will rise for the rest of the students?

I also wonder if all the “loans” given by the govt that artificially rose tutition costs will continue to artificially inflate?

And we wonder why young people are moving toward socialism. When you have to pay 20-30% income tax after graduation from college and pay off $100k plus in loans you are basically paying 50-60% income tax anyway.

We are breaking our young people with our ridiculous fiscal policies.

Get ready for the bubble to burst worse that it did in 2008!! We are living in a fake economic boom based on bad debt and bad credit—again
Are you sayin paying tuition is a tax? I’m confused.
 
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Jdhmills

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Are you sayin paying tuition is a tax? I’m confused.
I believe his point is that kids are used to paying out 60% of income so socialism with it's taxes at an equivalent rate wouldn't be a step change. I do not necessarily endorse that line of reasoning.
 
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Jdhmills

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I'm fine with this program since it appears it's not using tax dollars and there is no documentation it would affect tuition rates for others. If it did affect rates I wouldn't support said change. If some kids can get out of school with more reasonable debt loads without tax payers footing the bill I'm all for it, they will be bigger contributors to the economy.
 

rawb_stark

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This is a good move. Tuition seems to keep going up, I'd be shocked if it's still only $10K/year. I think I paid ~$12K my final year for McCombs in 11-12 and thought it was scheduled to continually go up for the next several years.
 

LoneStar

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Are you sayin paying tuition is a tax? I’m confused.
Im saying paying off a loan of $100k plus at $300-600 a month on top of your income tax at 20% plus when you’re 25 years old just out of college and trying to make a living at your first job probably eats up 50-60% of you’re income.

It’s like socialism. The govt owns you

The cost of school is only high because the “free” govt loans. In the meantime entry level college grad jobs salaries suck ass or jobs don’t exist.

It’s garbage and I think you know exactly what I meant but if not I hope this explanation was better.
 

josephcook

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Made the move to politics.

I know “free college” is a big current political buzzword talking point, but this doesn’t appear to be “socialism” or anything that seems to be promoted by any presidential candidate. This appears to be UT deciding what to do with the money the state allocates to it. They’re putting it in an endowment which will open doors for so many people who like @Jdhmills said, can get into UT but choose to go elsewhere (maybe even an institution not as well-regarded as UT) because UT may not provide the scholarship money the other institution does.

I’m all for responsible use of endowed money that brings down financial barriers that would normally prevent academically qualified students from attending the best public institution in the state.
 

josephcook

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It’s garbage and I think you know exactly what I meant but if not I hope this explanation was better.
Please explain how the UT System putting funds into an endowment for UT Austin whose dividends (right word?) will go to help people who are qualified to get into UT but may not have the financial ability to pay *tuition only* is either 1) a bad thing or 2) socialism when at this current stage there is no implied “others will have to pay for it” or any sort of dragging down of the academic talent-pool that is admitted to UT-Austin.
 
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LoneStar

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Made the move to politics.

I know “free college” is a big current political buzzword talking point, but this doesn’t appear to be “socialism” or anything that seems to be promoted by any presidential candidate. This appears to be UT deciding what to do with the money the state allocates to it. They’re putting it in an endowment which will open doors for so many people who like @Jdhmills said, can get into UT but choose to go elsewhere (maybe even an institution not as well-regarded as UT) because UT may not provide the scholarship money the other institution does.

I’m all for responsible use of endowed money that brings down financial barriers that would normally prevent academically qualified students from attending the best public institution in the state.
You’re correct on all points Joe

The only thing you missed was anyone saying UTs move is socialism. That’s completely wrong. UTs move is awesome. It just brought to light a larger issue in society on an opinion I have of why young people are finding free college (part of a socialistic govt structure) enticing.

I find UTs move a step on the right direction. The next step would be lowering tuition for everyone else
 

Jdhmills

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Im saying paying off a loan of $100k plus at $300-600 a month on top of your income tax at 20% plus when you’re 25 years old just out of college and trying to make a living at your first job probably eats up 50-60% of you’re income.

It’s like socialism. The govt owns you

The cost of school is only high because the “free” govt loans. In the meantime entry level college grad jobs salaries suck ass or jobs don’t exist.

It’s garbage and I think you know exactly what I meant but if not I hope this explanation was better.
The primary reason tuition at UT sky rocketed was the state leg deregulated tuition rates and cut public funding.
 

josephcook

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You’re correct on all points Joe

The only thing you missed was anyone saying UTs move is socialism. That’s completely wrong. UTs move is awesome. It just brought to light a larger issue in society on an opinion I have of why young people are finding free college (part of a socialistic govt structure) enticing.
I misread your “tax” post.
 
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Jdhmills

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w

well you sure as hell don’t need it when loans are available on every street corner

Lol
when I started at Texas in Fall 2003 my scholarship covered tuition payments which were roughly 2500 a semester, by the time I graduated it had almost doubled. Said scholarship did not double. I was lucky enough to still graduate debt free.
 

LoneStar

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when I started at Texas in Fall 2003 my scholarship covered tuition payments which were roughly 2500 a semester, by the time I graduated it had almost doubled. Said scholarship did not double. I was lucky enough to still graduate debt free.
I graduated in 1993 at about the same rate. Almost exactly the same.

Now it’s risen exponentially higher and very quickly ? Why?

There are a few reasons I’m sure but the easy money from govt loans is absolutely reason number 1 and 2
 

Jdhmills

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I graduated in 1993 at about the same rate. Almost exactly the same.

Now it’s risen exponentially higher and very quickly ? Why?

There are a few reasons I’m sure but the easy money from govt loans is absolutely reason number 1 and 2

UT tuition has been fairly stable since 2010, the crazy increase happened in early in the 2000s when tuition for in state public schools was de regulated.
 

Jdhmills

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when adjusting for inflation UT tuition has actually gone down a little last few years.
 
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rawb_stark

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letter from Fenves from last year detailing 2% hikes in tuition for next two years (basically in line with inflation rates). I would say on the whole a UT degree is still well worth the cost and still a relative bargain to peers.
It is, but I looked up the different schools in the link Joe posted and it's interesting to see the difference in cost/per year for some of the schools I believe will generate the ability to pay of loans faster isn't as high as schools that won't. For reference, engineering vs. teaching. I wonder what school or schools this will help the most with enrollment.
 
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padrehorn11

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Things have changed a lot in 50 years, but none more than college tuition. Stanford tuition in 1969-70 was about $2,000 as I recall. And Texas the next year was less than a grand, I think. I know we've had inflation in everything, but wow.

We probably got more bang for our buck too. Judging from the political leanings on younger college grads, and the example of AOC and her degree, it seems it largely a complete waste now. I'm going to leave money for my grandson not to attend college and start a business in the garage.
 
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roto

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This is a good move. Tuition seems to keep going up, I'd be shocked if it's still only $10K/year. I think I paid ~$12K my final year for McCombs in 11-12 and thought it was scheduled to continually go up for the next several years.
Tuition is just under $11k a year for Comp Sci...I'm paying it for my son.
 
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roto

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Made the move to politics.

I know “free college” is a big current political buzzword talking point, but this doesn’t appear to be “socialism” or anything that seems to be promoted by any presidential candidate. This appears to be UT deciding what to do with the money the state allocates to it. They’re putting it in an endowment which will open doors for so many people who like @Jdhmills said, can get into UT but choose to go elsewhere (maybe even an institution not as well-regarded as UT) because UT may not provide the scholarship money the other institution does.

I’m all for responsible use of endowed money that brings down financial barriers that would normally prevent academically qualified students from attending the best public institution in the state.
I tried to tell JD that this belongs to the politics board...he didn't agree. Some folks lack foresight.