MU tuition up 3.5%

[TSmith34, Inc.]

Sample size of one, so take it for what it is worth, but I came out of MU with a debt-to-starting-salary ratio of ~56%.  I found it not too difficult to pay off my loans ahead of time.

Using the data in this thread, the average grad comes out with $31,200 in debt and has a starting salary of ~$53,500, or a 58% ratio.

[Galway Eagle]

Understood. But then the debate was whether or not that was enough to live on and service the average debt load, so I looked up more recent data.  An extra $8K - $9K per year is pretty significant in those terms.

From what I'm seeing on us news (assuming that's what you're using) they qualify starting salary as having had three years of postgrad work. If you'd like to confirm click on the "i" next to it.

But given that stat I'll amend my argument to the first three years aren't easy. 

[mu_hilltopper]

I did find this link quite interesting, as posted above..   https://www.marquette.edu/business/career-center/graduate-outcome.php

I think it's also important to remember that when we're talking about the "average grad" making $xx thousand when they get out .. that ~HALF are making less than that.   The point being .. there are plenty of MU fresh grads that aren't on easy street.

The other link has college grads making less.  From the link, it doesn't say "starting salaries" which makes me wonder if this is for all college grads -- (the numbers are so low, that's hard to believe.)

https://www.ziprecruiter.com/Salaries/How-Much-Does-a-College-Grads-Make-a-Year--in-Wisconsin

It has the Average at $39k .. but roughly half are making $5-10-15k less than that

[The Hippie Satan of Hyperbole]

I did find this link quite interesting, as posted above..   https://www.marquette.edu/business/career-center/graduate-outcome.php

I think it's also important to remember that when we're talking about the "average grad" making $xx thousand when they get out .. that ~HALF are making less than that.   The point being .. there are plenty of MU fresh grads that aren't on easy street.

That's actually not what that means.

[buckchuckler]

That's actually not what that means.

https://youtu.be/8rh6qqsmxNs

Its George Carlin, so NSFW. 

[The Hippie Satan of Hyperbole]

https://youtu.be/8rh6qqsmxNs

Its George Carlin, so NSFW. 

If you are criticizing me, you should probably look up the difference between average and median.  And that's important.  Roughly 25% of Marquette's graduates are from business and engineering.  If those alumni are making $53,000 on average, that means the balance are making just over $43,000 to reach an average of $46,000.  (Again, very rough numbers.)  So that would mean 75% are making less than average, but they aren't making significantly less.

[Eldon]

If you are criticizing me, you should probably look up the difference between average and median.  And that's important.  Roughly 25% of Marquette's graduates are from business and engineering.  If those alumni are making $53,000 on average, that means the balance are making just over $43,000 to reach an average of $46,000.  (Again, very rough numbers.)  So that would mean 75% are making less than average, but they aren't making significantly less.

Indeed.  I would add that incomes at the bottom are probably bounded but the salaries at the top are not, e.g., the top AIM students make very good salaries, pulling up the average.

BTW, not only is George Carlin wholly unfunny, he's flat out wrong--dare I say stupid?

[The Hippie Satan of Hyperbole]

Indeed.  I would add that incomes at the bottom are probably bounded but the salaries at the top are not, e.g., the top AIM students make very good salaries, pulling up the average.

Exactly.

[4everwarriors]

https://youtu.be/8rh6qqsmxNs

Its George Carlin, so NSFW.

Pretty sure George was referencing this board with those comments.

[buckchuckler]

If you are criticizing me, you should probably look up the difference between average and median.  And that's important.  Roughly 25% of Marquette's graduates are from business and engineering.  If those alumni are making $53,000 on average, that means the balance are making just over $43,000 to reach an average of $46,000.  (Again, very rough numbers.)  So that would mean 75% are making less than average, but they aren't making significantly less.

Really?  You need to chill out.  It wasn't to criticize you.  It was because it is funny.  Holy Crap.  I guess it was aimed at you, though that wasn't the original intention. 

[The Hippie Satan of Hyperbole]

Really?  You need to chill out.  It wasn't to criticize you.  It was because it is funny.  Holy Crap.  I guess it was aimed at you, though that wasn't the original intention. 

Well, you quoted me so sorry for not understanding your intent.

[buckchuckler]

Well, you quoted me so sorry for not understanding your intent.

Yeah, just always assume you're under attack. 

And you should look up averages apparently.  Mean, median and mode.  All averages.  Different things, but all averages. 

[The Hippie Satan of Hyperbole]

Yeah, just always assume you're under attack.

First, I qualified my statement.  "If..."  Second, I apologized for misunderstanding your intent.  It's probably best that you STFU about it now.

And you should look up averages apparently.  Mean, median and mode.  All averages.  Different things, but all averages. 

Not necessarily.  Definitions include what you are mentioning, but also simply the arithmatic mean. 

[buckchuckler]

First, I qualified my statement.  "If..."  Second, I apologized for misunderstanding your intent.  It's probably best that you STFU about it now.


Not necessarily.  Definitions include what you are mentioning, but also simply the arithmatic mean.

Hahaha.  Ok.  Nice apology.  I misunderstood its intent and sincerity.   

[TSmith34, Inc.]

I did find this link quite interesting, as posted above..   https://www.marquette.edu/business/career-center/graduate-outcome.php

I think it's also important to remember that when we're talking about the "average grad" making $xx thousand when they get out .. that ~HALF are making less than that.   The point being .. there are plenty of MU fresh grads that aren't on easy street.

Yeah, and there could be reporting bias if, as it appears, reporting was completely voluntary.

But if you are on the low end of the reported range at $18K and you are taking on loans above the average, you're doing it wrong.

[Not A Serious Person]

Nobody pays sticker

----

Private Colleges Offer Record Discounts as Tuition Costs Rise
Big grants for freshmen help students but hurt schools’ budgets
https://www.wsj.com/articles/private-colleges-offer-record-discount-prices-as-tuition-costs-rise-11557428871?mod=article_inline

Tuition-discount rates for first-time, full-time freshmen hit a record 52.2% in the current school year, according to preliminary results from a National Association of College and University Business Officers survey of 405 private, nonprofit schools. The 2018-2019 figure is up from 50.5% in the previous year.

Over the past decade, the average institutional grant for first-time freshmen has increased to more than $20,000 this year, up from about $10,600 in the 2008-09 year. About 90% of freshmen received grant aid from private colleges and universities in the 2018-2019 year, according to the study. Those discounts, on average, cover about 60% of the tuition and fee sticker price.

[The Hippie Satan of Hyperbole]

Discount rates aren’t really a great measure but yeah. Don’t worry about tuition.

[Cheeks]

Lots of discounts.  My daughter accepted to DePaul yesterday....huge discount.  Xavier the same.  Waiting for the others.

[PorkysButthole]

A friend of Porky’s who works in higher education here in the Northeast (where the avg pvt school tuition sticker is typically $10K above their midwestern peers) believes it’s inevitable that the U.S. will adopt the European model where bachelors degrees are completed in 3 yrs.  It won’t solve runaway inflation but at least it’s one less year to pay for.  This individual works in finance for a prestigious LAC in the greater NYC area that’s almost $70K all in and believes it’s inevitable and about 5-7 yrs away away.  Even with the wealth concentration in the region, their percentage of full pay families has been declining precipitously for years.  When costs are out of reach even for high income upper middle class families (if not the outright wealthy) something’s gotta give.

[Cheeks]

A friend of Porky’s who works in higher education here in the Northeast (where the avg pvt school tuition sticker is typically $10K above their midwestern peers) believes it’s inevitable that the U.S. will adopt the European model where bachelors degrees are completed in 3 yrs.  It won’t solve runaway inflation but least it’s one less year to pay for.  This individual works in finance for a prestigious LAC in the greater NYC area that’s almost $70K all in and believes it’s inevitable and about 5-7 yrs away away.  Even with the wealth concentration in the region, their percentage of full pay families has been declining precipitously for years.  When costs are out of reach even for high income upper middle class families (if not the outright wealthy) something’s gotta give.

Cut those salaries, drop anything with “studies” in it, etc.....it will go over really well.

[Jables1604]

Even he has to pay 44 grand?

Just catching up on this. $44K a year is a lot on a carpenter’s salary.

[jficke13]

Related to the discussion, aprx 50% of student loan borrowers aren't paying down their balances: https://www.cnbc.com/2020/01/16/student-loan-debt-is-over-1point6-trillion-and-balances-arent-going-down.html

[Cheeks]

So because people aren’t honoring their debts they freely chose to take, I have to bail them out?  Sorry....no dice.

I paid mine back at a rate way higher than today’s rate and so have millions of others. 

I can think of no better idea than telling a bunch of 20 year olds that your financial commitments are waived away by a magic wand so that in their 30’s they will expect the same thing with the homes they buy.  Bad. Bad. Bad. 

[Billy Hoyle]

So because people aren’t honoring their debts they freely chose to take, I have to bail them out?  Sorry....no dice.

I paid mine back at a rate way higher than today’s rate and so have millions of others. 

I can think of no better idea than telling a bunch of 20 year olds that your financial commitments are waived away by a magic wand so that in their 30’s they will expect the same thing with the homes they buy.  Bad. Bad. Bad.

we don't agree on much politically, Cheeks, but I agree with you here (and likely in opposing the individual advocating this). While I still have outstanding debt from grad school my wife and I have paid off a significant chunk.

I was supposed to qualify for the PSLF program (after working and paying off my loans for 10 years)  but like 99% of applicants, I was denied without explanation. But, I had to do something to qualify. My father took a job in and moved our family to a place he didn't want to live to qualify for a loan forgiveness program and had 50% forgiven when he met the qualifications for it. If there is going to be any loan forgiveness it should be in a similar vein, not "no more loans, you're welcome."

[The Hippie Satan of Hyperbole]

So because people aren’t honoring their debts they freely chose to take, I have to bail them out?  Sorry....no dice.

I paid mine back at a rate way higher than today’s rate and so have millions of others. 

I can think of no better idea than telling a bunch of 20 year olds that your financial commitments are waived away by a magic wand so that in their 30’s they will expect the same thing with the homes they buy.  Bad. Bad. Bad. 

Well we still have farmers planting stuff even though we keep bailing them out...

Yeah, yeah.  I know it's not the same thing.  But we seem to want to spend money in the name of keeping a healthy economy when it comes to one class of people, yet totally want to overlook the economic benefits when it comes to another.