What should be MU's next campus improvement priority?

[GGGG]

Here's some data from InsideCollegeEd:

The College Board data for this year show that students at private colleges receive an average of $14,400 in total grant aid and federal tax breaks, meaning that the net price of tuition is about $11,900 on average.

At public four-year colleges, average grant packages and tax breaks total about $5,400, reducing average net tuition and fees (for in-state residents) to about $1,600.

Fine.  I'll take "net price" and increase it by 6.5% and 4.4% every year.  Now it takes 101 years for public tuition to equal private.  (At which time the "net price" which you believe is important .. is $882,000 per year .. love to compare that

Now, I imagine to make it perfect, you'd also factor in the increase "gap" in grants/aid from private to public .. not sure how to find that information.  Regardless of that number?  It's gonna take decades before public school tuition is on par with private.  Not a winning strategy.

Meanwhile .. household median income, which has petered out over the past decade, hovers in the 1-2% increase range.   So the $64k question is .. does "net price" increase at 1-2%?  Or closer to 4-6%?   My guess is 4-6%, doubling the income growth rate, meaning tuition becomes more affordable every day that clicks by.

Well, these are all very valid points, but Blackheart's point too was that it may be hard for MU to price itself out of the picture when public schools are raising tuition as well.

[mu_hilltopper]

And I think I answered that point.  It will take 60+ years until MU will be competitive with public school costs.  100+ years if you use Net Price.    That's so far in the future, it loses most of its relevance.  (And naturally, those predictions are really unreliable.  Public education's cost increases could flip to lower-increases over the decades.  Who knows, maybe instead of a national health care program, we switch to a national college program! hah)

[GGGG]

And I think I answered that point.  It will take 60+ years until MU will be competitive with public school costs.  100+ years if you use Net Price.    That's so far in the future, it loses most of its relevance.  (And naturally, those predictions are really unreliable.  Public education's cost increases could flip to lower-increases over the decades.  Who knows, maybe instead of a national health care program, we switch to a national college program! hah)

Blackheart's point is that since people are willing to pay the difference now because of a perceived difference in quality, that if that difference decreases over time, privates will start to look even more attractive.

[mu_hilltopper]

True point.  People are willing to pay the premium today.  They should be more willing in the future as it decreases.

What I believe removes that from reality is that income growth is paltry, and both public/private increases outstrip them.  While the private school premium is shrinking in relative dollars, in absolute dollars, it will get to a point that is unaffordable, at which point, people wanting to go to a private school say they can't pay the (admittedly shrinking) premium, and then choose public.  

In short, that argument would work if tuition costs for BOTH public and private, weren't headed to a point where they are simply unaffordable.   Privates are hitting that level quicker, since in real dollars, they are 7x more expensive (net price) today.  But even at 6x, 5x, 4x, that future gap between tuition and income will be so severe, the only choice will be public, as it's still far cheaper even 66 years out.  ($102k versus $204k.)  While that percentage premium will have shrunk, it won't mean a lick of difference when the real dollar premium is $100k.

[Coleman]

.  Who knows, maybe instead of a national health care program, we switch to a national college program! hah

One could only hope. A lot of countries already do this. For some European state universities, undergraduate education is free for all citizens. Even where this isn't true, there is a lot of aid for professional degrees. Doctors, teachers, nurses would all be able to go to school for free with 5 years of service working in an inner-city area, for example.

Or better yet, help the uninsured problem in the USA by requiring all med school grads to spend 2 years working in a free clinic for 40-50k a year, in return for free med school. They can spend the rest of their life making big bucks and will carry no debt.

[Chicago_inferiority_complexes]

Hilltopper, I very much admire your willingness to lay out the facts, but I think this issue might be akin to religion, politics ... or maybe even, dare I say it, the nickname.

[mu_hilltopper]

Hilltopper, I very much admire your willingness to lay out the facts, but I think this issue might be akin to religion, politics ... or maybe even, dare I say it, the nickname.

If true, especially at the board of Trustee level, that would be very unfortunate.  There's some cold economic facts heading our way. 

Thinking dollars and cents doesn't outweigh the un-calculatable draw of a "better" "private" education ... while your product gets more expensive relative to your customers' buying power ..  thinking customers will keep buying your product because, gosh, they always had in the past  .. not a solid long term strategy.

[GoldenWarrior]

Rec Center needs some major attention paid to it.
The college of business could certainly use a new building as well... it's still crap (I am biased as a College of Bus graduate)

[Dr. Blackheart]

Blackheart's point is that since people are willing to pay the difference now because of a perceived difference in quality, that if that difference decreases over time, privates will start to look even more attractive.

Thank you!  It isn't just the price-gap that will close but the quality gap that will widen.  Public schools will scramble first for funding just to keep core courses.  Professors will be replaced by TA's at state schools.  JUCO's will get you entry level jobs and compete with most public 4 years, while private four year schools will get you careers.  If MU decides to compete on the low end, they will not survive.  Mid tier, with a quality niche will be a good place to be.  Stop looking at education in 1990's terms.  This will be one of the most revolutionary parts of our society in the next 20 years in terms of trends.  Make sure you hedge on the high side with your kids' futures.  The gap between haves and have nots will be wide.

[Jack618]

Answer: NOTHING!

All these buildings cost $$$ to build and $$$ to maintain.  Tuition increases are outstripping inflation by several factors (5.6% this year versus the CPI which is basically flat) .. as I said in the other thread: the long term universe of people who can afford MU (and all private colleges) is decreasing every year.

MU's physical plant is superlative already.  Sure, you can find spots that aren't palaces, but the idea that MU needs to "keep up" with other schools is self-fulfilling balderdash, destructive in the long run.

MU needs to do everything in its power to cost-contain or it will fail its mission in the decades ahead.   

This is a good point. Even though I would love nothing more than to see Laulemere's destruction (I mean come on, the ugliest building on the planet in the middle of the campus's most attractive outdoor space) I would much rather see Marquette try to minimize its tuition growth. MU tuition is relatively affordable when compared to similar private schools, but I don't want to see Marquette become a luxury that middle class students can not afford. Right now a middle class student can borrow to go to Marquette, and reasonably expect to find a job that will allow him of her to pay off the debt in a decade/ decade and a half. I don't want to see that 10 to 15 year window expand, because in that instance the students of average income parents will have a really hard time choosing MU over other high quality, more affordable schools.

[Hards Alumni]

This is a good point. Even though I would love nothing more than to see Laulemere's destruction (I mean come on, the ugliest building on the planet in the middle of the campus's most attractive outdoor space) I would much rather see Marquette try to minimize its tuition growth. MU tuition is relatively affordable when compared to similar private schools, but I don't want to see Marquette become a luxury that middle class students can not afford. Right now a middle class student can borrow to go to Marquette, and reasonably expect to find a job that will allow him of her to pay off the debt in a decade/ decade and a half. I don't want to see that 10 to 15 year window expand, because in that instance the students of average income parents will have a really hard time choosing MU over other high quality, more affordable schools.

clearly, you didn't read the rest of the thread before commenting.  I'll save you some time.

MU doesn't pay for the buildings.  Donor's pay for specific buildings.  Tuition does not increase when new buildings are put up on campus.

[mu_hilltopper]

That is partially true.

[martyconlonontherun]

In an ideal world, there would be more investment in scholarships to keep tuition down. However, donating to a scholarship fund isn't as sexy having a state of the art building named after you. It's still better than nothing.

[Brewtown Andy]

In an ideal world, there would be more investment in scholarships to keep tuition down. However, donating to a scholarship fund isn't as sexy having a state of the art building named after you. It's still better than nothing.

Although everyone posting here with season tickets is donating a healthy chunk to a scholarship fund. 

[ZiggysFryBoy]

Although everyone posting here with season tickets is donating a healthy chunk to a scholarship fund. 

yup, I'm getting ZiggysFryBoy college of business with my $100/year donation.   

[McMARQthy]

Apparently O'Hara hall is coming down to make way for a new parking structure.

http://marquettetribune.org/2010/05/06/news/ohara-hall-to-make-way-for-new-parking-structure/

[Brewtown Andy]

Apparently O'Hara hall is coming down to make way for a new parking structure.

http://marquettetribune.org/2010/05/06/news/ohara-hall-to-make-way-for-new-parking-structure/

85 space lot, actually.  And all they're going to do is expand the parking behind Johnston & Gesu already, because they're not cramming 85 spaces between that and 11th street.