Marquette raises tuition 3.5 percent

[Coleman]

I had student loans coming out of Marquette as well.  And they were very stingy with the scholarships back then.  The only person I know for a fact got a merit scholarship during my time there had a 35 on his ACT, and the amount of the scholarship was nothing to write home about.

Here's what else I didn't have when I was at Marquette:

A counseling center
A tutoring center
An entire department of the Office of Residence Life devoted to helping students with private landlords
SSP vans (and drivers)
A sophisticated, high tech security system
Armed safety officers
An entire department devoted to helping students with their computer issues (because we didn't have computers)
An office of Mission and Ministry

These are just the things I came up with off the top of my head.  And I am not even counting the dozen or so buildings that have either been built, purchased, or completely renovated in the last 25 years.

I suppose if Marquette didn't have all these things, they wouldn't have to charge so much.  But would anyone want to go there?

Fair points. I think we could get rid of some of these things, but not all of them.

[warriorchick]

I don't want to nitpik, but each of those things are only compensating for some other problem with Marquette that has reduced it's value the last several decades. All the security going on? That's because the campus on on the edge of the ghetto. There are also approximately 5% as many bars and restaurants near campus as 30 years ago. It's not like the value proposition is that much higher today to justify triple digit percent tuition increases every decade or two (sans actual education, which varies by degree and department, I'm sure).

I take issue with your argument because everything I listed is something that we could have used when I went to school there (except, of course, the computer support).  It's a simple fact that students expect more from a university than they did a generation ago.

Even so, the steep increases in tuition have affected nearly every private university in the U.S.  If there is an institution of Marquette's quality that is significantly less expensive, with an endowment/enrollment ratio equal to or smaller than Marquette's, I would like to know who it is.

Seriously, I'd like to know.  Let's find out what they are doing differently, and let's do that.

[Goose]

It is insane what MU costs. I have three more checks to write for my son and four for my daughter and CANNOT wait. Hate to say it but will probably transition and establish college fund for the future grandkids.

Young folks out there---you can NEVER make too much money. If you think you have a lot of saved for house, or kids...double it.
I drive my kids crazy but tell them weekly you cannot start saving soon enough for life after 30.

[jficke13]

...If there is an institution of Marquette's quality that is significantly less expensive, with an endowment/enrollment ratio equal to or smaller than Marquette's, I would like to know who it is.
...

Not really. There's no *incentive* to reduce cost because federally backed student loans are available to everyone of any circumstance, for damn near any amount, regardless of the risks of repayment ***because the school always gets paid by the feds even if the student defaults***

The schools can charge ANYTHING THEY WANT and they will get paid. There is 0 reason for them to compete on price (besides not screwing their students... but who cares about them right?)

[Chicago_inferiority_complexes]

Even so, the steep increases in tuition have affected nearly every private university in the U.S.  If there is an institution of Marquette's quality that is significantly less expensive, with an endowment/enrollment ratio equal to or smaller than Marquette's, I would like to know who it is.

Seriously, I'd like to know.  Let's find out what they are doing differently, and let's do that.

I don't disagree with this. In no way is this a MU-centric problem. Every private school has it, and to some extent I think MU handles it better than others. (In some ways worse.)

[Chicago_inferiority_complexes]

It is insane what MU costs. I have three more checks to write for my son and four for my daughter and CANNOT wait. Hate to say it but will probably transition and establish college fund for the future grandkids.

Young folks out there---you can NEVER make too much money. If you think you have a lot of saved for house, or kids...double it.
I drive my kids crazy but tell them weekly you cannot start saving soon enough for life after 30.

I love the people who say that we have an increase in standard of living compared to 25 or 50 years ago. (I'm not talking about social change, etc. etc.). It just seems like we're paying substantially more for housing, education, food and transportation as a percentage of our overall spending than we have for generations. New home prices are at their highest ever (adjusted for inflation). Cars have practically doubled the last decade or so. Tuition up 300% or 400% the last couple decades.

But, hey, iPads. So we're all even.

[GGGG]

I love the people who say that we have an increase in standard of living compared to 25 or 50 years ago. (I'm not talking about social change, etc. etc.). It just seems like we're paying substantially more for housing, education, food and transportation as a percentage of our overall spending than we have for generations. New home prices are at their highest ever (adjusted for inflation). Cars have practically doubled the last decade or so. Tuition up 300% or 400% the last couple decades.

But, hey, iPads. So we're all even.

I will point out that the cars we drive, and the houses we live in, are by and large a lot nicer than a generation ago.

[rocky_warrior]

I will point out that the cars we drive, and the houses we live in, are by and large a lot nicer than a generation ago.

Yup, the idea of a "starter" home is gone, and everyone must have 4 bedrooms and 3 baths...for 2 people!

Oh but the guests! (I guess hotels are out of fashion too).

[warriorchick]

I will point out that the cars we drive, and the houses we live in, are by and large a lot nicer than a generation ago.

I agree. Perhaps certain items cost more on an inflation-adjusted basis, but more people can afford them.

For example, how many of us on this board live in nicer houses than the one we grew up in?

[jficke13]

I will point out that the cars we drive, and the houses we live in, are by and large a lot nicer than a generation ago.

Is the value of a bachelor's degree from MU "a lot nice than [it was] a generation ago" too?

[GGGG]

Is the value of a bachelor's degree from MU "a lot nice than [it was] a generation ago" too?

Compared to the alternative of not having a degree?  Yes.

[jficke13]

Compared to the alternative of not having a degree?  Yes.

Not exactly an apt comparison.

1980 Midsize Sedan < 2015 Midsize Sedan

1980 MU degree>2015 not having a degree;
2015 MU degree > 2015 not having a degree
1980 MU degree ? 2015 MU degree

[warriorchick]

Not exactly an apt comparison.

1980 Midsize Sedan < 2015 Midsize Sedan

1980 MU degree>2015 not having a degree;
2015 MU degree > 2015 not having a degree
1980 MU degree ? 2015 MU degree

Overall, Marquette is definitely a better school than it was back then.

[StillAWarrior]

For example, what happens if the President's "free community college" get's approved?  Even if it is a "discounted community college" initiative, that could have an enormous impact on the four-year college market.

As I mentioned above, the UW System has frozen tuition for three years now and UIUC is freezing tuition next year.  Is the widening gap between private and publics going to be worth the cost in the general public's eyes?

My son is a senior in high school and we are dealing with these questions in a very real and direct way right now.  We're very fortunate.  We have been able to invest in a quality private high school (after investing in private elementary school) and my son has worked very hard and done well.  As someone who attended (and loved) a private college, this has become very difficult for me.  To illustrate, I'll address three schools that my son applied to, was accepted by, and offered merit-based aid.  The third school, one he really likes, I'll include the scholarship he's already been offered and the best case scenario for the one he's still pursuing.

School No. 1 (In-State Public)
Tuition:  14,000
R&B:  11,000
Scholarship:  9,000 (renewable - another 2,000 possible, but not awarded yet)
Net Cost Per Year:  16,000

School No. 2 (Out-of-State Jesuit)
Tuition:  44,000
R&B:  13,000
Scholarship:  26,000 (renewable)
Net Cost Per Year:  31,000

School No. 3 (Out-of-State Private)
Tuition:  31,000
R&B:  11,000
Scholarship:  19,500 (renewable -- this is best case scenario; only $6,000 awarded so far)
Net Cost Per Year:  22,500


It is really hard for us to justify paying the difference -- either currently or spread out over the next 20 years or so.  In fact, we can't justify it.  This is made all the more apparent by the fact that the public school is pretty clearly the best school of the three.  The Jesuit school offered scholarships totaling more than $100,000 and they're still not even close.  It's been a bit of a slow awakening for us, but we're coming to the conclusion that our four kids are almost certainly going to attend public colleges unless we/they can figure out a way to make the cost of the privates competitive.

[chapman]

Does "financial aid" include federally backed (subsidized or unsubsidized) student loans? If so, that's not really aid but a potential anchor.

Of course.  So where are they really between List Price and the misleading "99%"?  It would be interesting to know.

The counseling center? Do you mean the "career" counseling center? Marquette and other institutions need to feign interest in students careers as the cost of education skyrockets. I can tell you that between my undergrad in A&S and my grad in COB, all of the career "counseling" did squat to find me a job. So I'm not sure where the benefit of this is coming in.

Guess it's this kind of trade-off - do they continue to half ass things and raise tuition 3.5%, or go balls in on more initiatives at the cost of 6% increases?  I mean, when I set up an appointment to ask for help finding a position after school that wasn't within a fart's distance from campus I was told to try to squeeze a login out of the career sites of colleges closer to where I intended to work.  Would I have compounded tuition by a fraction of a percent more every year to have received legitimate help?  Maybe, but I honestly don't know.

I will point out that the cars we drive, and the houses we live in, are by and large a lot nicer than a generation ago.

Only go to a high-growth area for evidence.  You can tell very easily what existed 20, 30 years ago and what didn't.  

[Spotcheck Billy]

nm

[Chicago_inferiority_complexes]

I agree. Perhaps certain items cost more on an inflation-adjusted basis, but more people can afford them.

For example, how many of us on this board live in nicer houses than the one we grew up in?

Well, let's see. My parents bought their first house when they were 20. I paid off my student loans 3 years ago at the age of 27 and am still living in a studio apartment. I could buy a home, but I'm waiting for the next housing crash, which will come soon after the spigot is turned off.

They also built and moved into their "retirement home" a few years ago in their late 40's.

Boomers had it so rough.

[Coleman]

I agree. Perhaps certain items cost more on an inflation-adjusted basis, but more people can afford them.

For example, how many of us on this board live in nicer houses than the one we grew up in?

For Boomers, probably most of you.

For the rest of us, not so much.

[jficke13]

My back of the napkin estimate was that I'd have to save/invest $5k/year/kid in order to have a shot at paying for school for them.

18 years x $5k = $90k + whatever compounding dividends and capital appreciation can do for me hopefully = greater than $100k.

At this rate I wouldn't even come close. Even UW-Madison will compound its way out of being a reasonable cost. At some point there has got to be a market correction. $200k for an undergrad degree is not sustainable.

The only thing sustaining the rapidly increasing tuition costs is the federal loan guarantees, which I think have exceeded $1T. When the feds turn the spigot off there is going to be a wild ride of a crash.

[GGGG]

nm

[GooooMarquette]

I will point out that the cars we drive, and the houses we live in, are by and large a lot nicer than a generation ago.

Yep.  And the typical "starter" TV for most people is a 50" high-def model connected to cable or satellite with 100+ channels.  Something everybody apparently "needs."  My "starter" TV was a 17" with rabbit ears and about 5 channels.  And don't get me started on the "need" of everybody over 6 to have the latest iPhone.  

[Jay Bee]

Raise it more! Help keep the riff raff out!

[Marquette Gyros]

Well, let's see. My parents bought their first house when they were 20. I paid off my student loans 3 years ago at the age of 27 and am still living in a studio apartment. I could buy a home, but I'm waiting for the next housing crash, which will come soon after the spigot is turned off.

They also built and moved into their "retirement home" a few years ago in their late 40's.

Boomers had it so rough.

+1. To wit:

- It's a lot easier for a Dow at 4k to double, triple, quadruple, etc. than a Dow at 18,000, especially when daily rates of change have remained essentially the same. You know how much Boomer wealth was created with this? You think the Dow will be at 72,000 in 2035?  No way in hell.

- Tuition at $500 a semester must have been really rough. "I worked my way through college and graduated with zero debt" is impossible for 99% of students today.

- That $25,000 starter house must have been a real bitch to afford.

Etc, etc, etc.

[jsglow]

All I know is that it costs a lot of money to attend a private school these days but the reality is that state schools have dramatically increased enrollment making it very tough to graduate in 4 years.  I think all universities need to work hard to contain costs, MU included.

[Coleman]

All I know is that it costs a lot of money to attend a private school these days but the reality is that state schools have dramatically increased enrollment making it very tough to graduate in 4 years.  I think all universities need to work hard to contain costs, MU included.

That's a fair point too. Almost everyone I know who went to a UW-something school took at least 5 years.