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Last Thursday I got a call from a friendly guy who said he was a senior at my college alma mater.
Sensing where the conversation was about to go, I simply said “Just so you know, I’m not going to donate any money.” He said that was fine, and proceeded to ask me for my current contact information so they could update their files.
Geez, I thought. Have I become so callous and curmudgeonly that I cut this poor student off when he was simply trying to keep the college’s alumni records straight?
That’s when — whammo! — he asked me to donate.
When Your “Mother” Comes Asking for a Handout …
It’s interesting to note that the origin of the phrase alma mater is Latin for “nourishing mother.” Because given the rising costs of a college education — and then the decades of follow-up requests for donations — I’m left wondering just who’s nourishing whom.
As I explained to the student telemarketer, I enjoyed my time at the university, and I feel I got a solid education. But I also paid through the nose for the privilege, even after factoring in a substantial academic scholarship.
Of course, when I cited my cost for attending … he laughed and said he was paying WAY more than that now.
Sure enough, a quick web search revealed that students at my old school are currently shelling out about $160,000 for an undergraduate degree (including room, board and other miscellaneous fees).
And this is all fairly typical, mind you:
- The College Board says tuition and fees at private four-year schools rose 4.4% in 2009 to $26,273.
- Meanwhile, the price of a four-year public university education spiked more than 6% for both in-state and out-of state students to $7,020 and $18,548, respectively.
- Another source, the National Association of Independent Colleges and Universities (NAICU), says the average increase in tuition was 4.3 percent in 2009, the smallest increase since the 1972-1973 school year.
- And the NAICU goes on to say that the average annual increase in tuition and fees has been 6 percent over the last ten years …
Do the math and you’ll see that an average annual increase of 6% leads to an 80% rise in tuition costs over just one decade!
Given that fact, I’m left wondering …
Is It Still Higher Learning or Just Higher Costs?
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| Are college students still getting value for their money these days? |
When I consider the mounting costs of a basic college degree … the general disaffection with which many students approach their schooling … and a traditional job market that is becoming ever more competitive … it seems like a lot of people are throwing away a whole lot of money.
Don’t get me wrong — I still think traditional education has plenty of benefits for focused students. And I am certainly planning and saving for the possibility that my daughter will choose to attend a four-year university.
But practically speaking, a parent or grandparent who wishes to pay for a child’s college education might be better off simply buying them a house to live in … or giving them a six-figure lump sum with which to launch a business!
At the very least these are now alternatives that we should present to the young people in our lives when the time is right.
Apparently, I’m not the only person who’s beginning to think this way, either. Listen to some of the comments people have posted on my blog in recent months.
As Ms. Messenger wrote …
“Personally, I think we are doing our kids a huge disservice with the mantra for the last several decades of ‘get a good education so you can get a good job.’
“Our family on both sides has nothing but generations of self employed people. Small businesses, granted, but our own. Our sons were homeschooled when it wasn’t the ‘cool’ thing to do. We always told them, ‘Start your own business, don’t work for someone else!’… so far, both sons are doing well with their endeavors.”
Another poster, Shirley, echoed those comments saying …
“I agree that college education now is not the best avenue. The cost is prohibitive. We have returned to the way it use to be years ago. Only the wealthy can really afford this ‘education.’ Firstly the first two years are a repeat of high school and ‘the major’ courses really don’t get into the subject matter until the latter part of the third year and the senior year.”
One reader, Michael, offered a partial solution to the problem, noting …
“Private schools are very costly. The best deal is to actually go to community school first. My children were too spoiled and too smart to follow that path, but I have known a number of kids that came from restricted financial backgrounds and they first started at community college and went on to be nurses, pharmacists, computer programmers, etc.”
And John asked this provocative question:
“What about for-profit private schools such as Strayer? Seems like the outsized increase in fees for traditional schools would be a boon for the likes of ITT and Apollo Group.”
See, that’s what gets me with the traditional system, John. Our country’s legion of “not-for-profit” schools are actually operating with the advantages of both worlds.
They charge outrageous rates and continually increase those costs. They gobble up real estate in their areas with subsidies … focus on their most profitable schools and majors while cutting less popular programs … pour millions and millions of dollars into extracurricular money-makers like sports and licensing … and advertise heavily.
We pay them for our degrees, a business transaction that was mutually agreed upon.
Then, they have current students ask us for additional funds because they just can’t make ends meet? I mean, imagine what it would be like if every purchase came with follow-up calls asking for more money … for a product you already paid for!
Hmmm … public bailouts for an operation that has been charging outrageous prices for years yet can’t sustain itself, even after enjoying myriad tax breaks and government-sanctioned advantages. Where have I heard that one before?
It’s amazing what our country’s schools are teaching these days, isn’t it?
Best wishes,
Nilus
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