UT to expand Financial Aid for Lower Income students

calvin farquhar

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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 find UTs move a step on the right direction. The next step would be lowering tuition for everyone else
You lost me up until this explanation.
 

LoneStar

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when adjusting for inflation UT tuition has actually gone down a little last few years.
This isn’t a UT only discussion. Tuition for college as a whole in this country and how it’s being financed by government loans that are very difficult for college grads to pay back when income isnt going up equally which leads to a rough spot for college grads

The point is that it is artificial inflation just like everything else in the country. We live in a make believe world of easy money, debt, and a bubble that has so much air in it that it would kill us when it bursts
 

calvin farquhar

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Holy ****. That’s what it was for me out of state. I remember in state kids paying like 700-1500 per semester.
Take a look at the calculator Joe posted to get a better idea. Using it the number is actually lower. I guess that $10.7 is an average or includes things not in the calculator.

Based on the calculator using fixed rate for a resident in state for 12 plus hours in the college of engineering it is $6,087. Out of state is $20,920
 

roto

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Take a look at the calculator Joe posted to get a better idea. Using it the number is actually lower. I guess that $10.7 is an average or includes things not in the calculator.

Based on the calculator using fixed rate for a resident in state for 12 plus hours in the college of engineering it is $6,087. Out of state is $20,920
Hours past 12 don't change the undergrad tuition, not sure about grad school. I believe the engineering tuition is one of the highest.
 

TOK2000

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It certainly was incredibly cheap when I was in Austin, I could earn enough money in the summer to pay my fall tuition and books. I had no student debt when I was finished. I am all for helping qualified low income students to attend Texas. Keep admissions standards high though.
 
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Jdhmills

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This sounds off. You have a link?

up until 2003 state universities had to get legislature approval in increase/set tuition rates. In addition less direct money from the state. Now whether or not the university needs to cut costs and then lower tuition is another debate entirely.
 
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LoneStar

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up until 2003 state universities had to get legislature approval in increase/set tuition rates. In addition less direct money from the state. Now whether or not the university needs to cut costs and then lower tuition is another debate entirely.
So basically it goes hand in hand with inflation caused by increased availability of federal funding = false inflation
 

LoneStar

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another article that's in line with @LoneStar points
Funny. I hadn’t read that yet. The positions I took were based on common sense and reading between the lines.

It’s corporate cronyism at its finest. The only ones truly benefiting are the large corporate financial institutions

Thanks for posting the link
 

calvin farquhar

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So basically it goes hand in hand with inflation caused by increased availability of federal funding = false inflation
Chicken and egg. The "free money" given out by the Feds makes it easier to take the restraints off tuition legislatively in Texas. Personally, I think, between recognizing this and pressure from the schools they said, "yeah, **** it, let them do what they want so we don't have to deal with it anymore".
 

Sneezybeltran

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nice, i started in 2003 gradiated in 2006 crammed 4 into three and then sold my freedom to halliburton
Smart man. Your 401K looks a lot better than mine! Haha, but the YMCA did take care of me.
Long story, but started off elsewhere and tough to afford it, took a year off and worked a lot back home. Took a class each semester, but took care of biz, got into UT(more work there) and got my degree in 2006. Lotta work and was glad to be done.
 
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Jdhmills

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Smart man. Your 401K looks a lot better than mine! Haha, but the YMCA did take care of me.
Long story, but started off elsewhere and tough to afford it, took a year off and worked a lot back home. Took a class each semester, but took care of biz, got into UT(more work there) and got my degree in 2006. Lotta work and was glad to be done.
I worked at a bakery through first half of college and a zipline guide the second half. Too bad ziplining didn't pay, that beat the hell out of being a worm offshore
 
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LoneStar

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Interesting stories for sure @Sneezybeltran and @Jdhmills

I was lucky enough to teach/coach in a low socioeconomic district and my loans were paid off by them. They were less than $50K but was still nice. I graduated in 93.

My oldest is starting UT in 2020. The staggering increase sure isn't because the degree is worth any more than it used to be or because Gregory has A/C now....Lol

Its inflation but the false inflation has driven it up more than anything else. No way these kids today can get out of college and make a decent living while trying to pay off over $100K in debt. Sadly we are forcing them to think like socialists.
 
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Jdhmills

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Interesting stories for sure @Sneezybeltran and @Jdhmills

I was lucky enough to teach/coach in a low socioeconomic district and my loans were paid off by them. They were less than $50K but was still nice. I graduated in 93.

My oldest is starting UT in 2020. The staggering increase sure isn't because the degree is worth any more than it used to be or because Gregory has A/C now....Lol

Its inflation but the false inflation has driven it up more than anything else. No way these kids today can get out of college and make a decent living while trying to pay off over $100K in debt. Sadly we are forcing them to think like socialists.
There are a few select industries you could pay it off in 5 years, that's the exception not the rule.
 

JG

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Interesting stories for sure @Sneezybeltran and @Jdhmills

I was lucky enough to teach/coach in a low socioeconomic district and my loans were paid off by them. They were less than $50K but was still nice. I graduated in 93.

My oldest is starting UT in 2020. The staggering increase sure isn't because the degree is worth any more than it used to be or because Gregory has A/C now....Lol

Its inflation but the false inflation has driven it up more than anything else. No way these kids today can get out of college and make a decent living while trying to pay off over $100K in debt. Sadly we are forcing them to think like socialists.
It’s the opposite of socialism. It is market forces at work.
 

DC Horn

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UT (or any other college) providing some of its endowment and investment money to assist paying for tuition is not socialism.

Kids/families choosing to go to college and taking on debt is not socialism.

Those with student loans wanting the government to pay-off their student loans is socialism.

While Maryland doesn't have a plethora of higher education options outside of UMD @ College Park, there are low cost options in-state. Virginia OTOH has numerous quality in-state options, including UVA, Va Tech, William & Mary, amongst others, plus a great next tier of schools. Many of the families and kids want the Ivy, near-Ivy, or top liberal art college experience, and those cost $40-55K+ per year ... just for tuition. These kids for the most part are the ones backing the Bern, AOC, and others wanting the government to pay-off all student loans.
 
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LoneStar

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It’s the opposite of socialism. It is market forces at work.
No JG. It’s not capitalism. It’s forced inflation. False inflation. The govt has made it easy to give away loans that are protecting the lenders with laws that trigger higher and higher loans and higher tuition. It’s a cycle with no end.

It’s the complete opposite of free market.
 

calvin farquhar

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theelusiveshadow

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My first thought: I sure wish I was born later.
My second thought: It's much better for individual schools like UT to decide this rather than the government stupidly trying to enforce free tuition across the board. Tuition costs across the country have slowly risen for decades without a subsequent rise in quality of education partially (if not mainly) because of government involvement in loans, though results may vary on individual schools.
My third thought: This might have consequences that people aren't envisioning or want, like raising tuition on the other students.
 

ttaghorn

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Good move by UT. And it's only for tuition, not room and board.
Since the money is not from current students, this sounds like a good idea. Why would you not want to aid those that really need it, a couple making 120M or less per year would have a hard time putting a kid thru Texas without substantial aid. As long as the kid qualifies for the aid and has the smarts to attend I think it is all good.
 
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padrehorn11

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But the money is coming from oil royalties. I think the kids and parents should all be aware of that so they can turn down the filthy lucre.

By rough calculation, the PUF has made over $30 million in the last three years from royalties just under the small amount of acreage under which we both have royalties. The money I've received doesn't come out of their royalties, but rather the Working Interest. So don't worry that I'm getting a cut of their action. They get the same percentage no matter what the OverRiding Royalty burdens are.
 
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