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Goodbye Wake, Hello William & Mary

BiffTannen said:
So are we talking about loans through the school only in those numbers? I would guess so. So that doesn't include any home equity lines that parents take out or loans that the students themselves take out.

I know we're paying full freight for anywhere my kids go to college, minus any scholarship money (which will almost certainly not be athletic).

We've loaded up the 529 accounts to pay for public and figure we'll cash flow any difference if they wind up going to private.
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It looks to me, based on aggregating my posts, that over the total 4 years students with financial aid are taking on an average of $10,000 in private loans (which are, in the schools eyes, a part of the "what you can afford to pay" piece, but is being loaned), $26,600 of "need-based aid" (i.e. from the school and federal) and the balance is financial aid grant money (i.e. not repaid). Its hard to fully determine, though, through all of the financial aid office spin language.

Then there are 20% of students that are deemed by the school to be able to afford sticker who are paying sticker. Whether that is coming out of mom and dad's checkbook or through private loans is unclear. I actually wouldn't be surprised if this is the demographic that sees the highest debt loads (i.e. income deemed high enough for sticker, but parents don't pay out of pocket and have the kid take out big, private loans).
 
The fact that loans are considered financial aid in that calculation is so underhandedly slimy.
 
I have more of an issue with Wake calling it an "award" if it includes loans.
 
Buttermaker said:
Woof indeed. i wonder what Ms. Jackson's "unique contribution" is to Rens Poly that justifies $7M per year in compensation?
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Well, for one she doesn't make $7M per year, she makes $1.25M per year and happened to receive a $5.9M longevity bonus the year that ranking was compiled.

If you average that out for the 10 years it took to earn the reward, she's at $1.84M, or #4 on the list. Which seems like a bit much for a school I've never heard of, but I suppose that was their exact strategy, and she has indeed executed major change ( http://en.wikipedia.org/wiki/Rensselaer_Polytechnic_Institute#Rensselaer_Plan ).
 
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Thanks. That makes much more sense and squares with my argue. If a university is competing with the private sector, they have to step up their game.
 
BiffTannen said:
So are we talking about loans through the school only in those numbers? I would guess so. So that doesn't include any home equity lines that parents take out or loans that the students themselves take out.

I know we're paying full freight for anywhere my kids go to college, minus any scholarship money (which will almost certainly not be athletic).

We've loaded up the 529 accounts to pay for public and figure we'll cash flow any difference if they wind up going to private.
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That's why affordable public higher education needs to be accessible and one of the great reasons not to live in South Carolina. If you live in NC or VA and I guess GA, you're okay. What do middle class kids in South Carolina, TN, KY and FL do if they want to go to a college they can afford?
 
jhmd2000 said:
That's why affordable public higher education needs to be accessible and one of the great reasons not to live in South Carolina. If you live in NC or VA and I guess GA, you're okay. What do middle class kids in South Carolina, TN, KY and FL do if they want to go to a college they can afford?
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I am somewhat impressed by South Carolina's public universities. I know some people that are dumb as bricks that came out of Clemson (maybe dumber), but I also know some really bright people that have been very successful in their careers.

But I agree with your point that public higher education needs to be accessible.
 
A bunch of good thoughts on the matter, thanks. If you're one of the 20% paying the full price, and you're not rich (believe me, I'm not anywhere near being rich) it's not a good deal at all. Goodbye MSD.
I'll still come to games, wear Wake gear and all that stuff, but I'm not going to pay $62k to send my kids to Wake Forest.
 
jhmd2000 said:
That's why affordable public higher education needs to be accessible and one of the great reasons not to live in South Carolina. If you live in NC or VA and I guess GA, you're okay. What do middle class kids in South Carolina, TN, KY and FL do if they want to go to a college they can afford?
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You guess Georgia? I hate Ga Tech, but it's the best tech school in the southeast and one of the best in the country, and UGA's a pretty decent school nowadays too. The fact is that you can get a very good education at any of the flagships in the southeast and their primary counterparts. You just have to work harder to get what you need at a big state school. Clemson's definitely a good school, but yes, there are also a bunch of dumbasses who go to school there. Oh, and the thing that UNC-CH people do where they act like their school is superior to pretty much any other school; you're doing it.
 
I know alot of people who went to USC and Clemson that are doing really well.
 
jhmd2000 said:
That's why affordable public higher education needs to be accessible and one of the great reasons not to live in South Carolina. If you live in NC or VA and I guess GA, you're okay. What do middle class kids in South Carolina, TN, KY and FL do if they want to go to a college they can afford?
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They go to a college they can afford.
 
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