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March 21, 2015 at 2:34 AM in reply to: The cost of an Ivy League undergrad degree next year…. #784009March 21, 2015 at 2:32 AM in reply to: The cost of an Ivy League undergrad degree next year…. #784008
CA renter
Participant[quote=livinincali][quote=CA renter]
We desperately need to direct more public funding to education instead of constantly starting extremely costly wars around the world.[/quote]No we need to figure out ways to make college cheaper not throw more money at the universities so they can hire more overpaid administrators and build more useless entertainment type complexes. Undergraduate math, undergraduate chemistry, and undergraduate just about anything hasn’t changed much in the past 50 years. Why does it cost so much more to teach the same material in the same classrooms with the same teachers. As online technology improves it should be costing less to learn and take something like Calculus 101, but instead it costs 200,300,500% more than it did just 10-20 years ago.
The question become why? While there might be some nuances and details,it really boils down to an unlimited supply of money that you can borrow and pay back in some distant future.[/quote]
From what I understand, the #1 reason for the growing costs is the decline in state spending on public universities/colleges.
http://www.npr.org/2014/03/18/290868013/how-the-cost-of-college-went-from-affordable-to-sky-high
But I totally agree with you on the ridiculous sums paid to many administrators and some coaches, too. The professors have been suffering greatly over the years, with many positions that were once tenured now going to adjuncts/assistant professors who barely make over minimum wage and often can’t get full-time hours, at that. This needs to be changed completely around.
And don’t get me started on athletics and other grand expenditures that are supposed to raise the status of the institutions (things like mega complexes; regular renovations, even when they’re not needed; high-end architecture, etc.).
Getting rid of the notion that everybody needs to get student loans in order to go to college would go a long way toward solving the problem, too, IMHO. We need more grants and scholarships that are based on academic merit vs. athletic prowess.
Participant[quote=FlyerInHi][quote=svelte]My first thought was I wonder how many porn films have been / will be shot in there.[/quote]
I have a condo in Vegas that is bling, but bling is a modern unstated way though it does have crystal chandeliers in every room.
I was contacted by a producer wanting to film an adult movie. I was OK with it but the time didn’t work. Hope they get back to me. I want some fame in my life.[/quote]
I’ve known people in the San Fernando Valley whose homes were used for adult movie sets. They can (could?) make a lot of money. Not sure how it is these days, as I hear the industry is hurting quite a bit because of the free internet sites. I honestly wonder how they make any money now. Kinda sad.
March 19, 2015 at 4:34 PM in reply to: The cost of an Ivy League undergrad degree next year…. #783961ParticipantI love it! 🙂
ParticipantThat’s a beautiful house, but those houses (the big, fancy ones with lots of large rooms, marble flooring, and high ceilings) always seem cold and lonely to me. Nice to see in a magazine, but not so sure I’d want to live in one.
March 19, 2015 at 12:26 AM in reply to: The cost of an Ivy League undergrad degree next year…. #783944ParticipantFunny about your dream. What was his house like? What did he look like in your dream.
I’ve dreamed about blog posters, too, even ones I’ve never met (including brian). They never materialize in a physically describable way, they simply exist by their usernames. Weird, isn’t it?
March 19, 2015 at 12:22 AM in reply to: The cost of an Ivy League undergrad degree next year…. #783943ParticipantWow, I’m impressed that you guys managed with three kids (or almost that) on $65K/year with student debt. While $600/month might seem manageable to you now, that must have been frightening with that income and a bunch of young kids.
You’re wise to keep your kids out of student debt (as much as possible); you have a lot to be proud of. I’m not as convinced as others are that doors are necessarily closed, either. Your kids are far better off with a state college education and no debt than they would be with six-figure debt that can’t be discharged in BK, and a degree from an Ivy League institution. Everybody likes to talk about the successful students from those institutions, but I know just as many who graduated from elite/Ivy institutions and are doing no better (some even worse off) than many of us who have degrees from state colleges. People always like to ignore those stories when making these decisions.
Sure, it makes sense for some kids who are majoring in certain specific areas to attend a higher-profile institution; but I think that there is more hype there than many realize. The students who are chosen to attend those universities are already primed to succeed in life — whether it’s because of money/family connections, or an incredibly high IQ and/or freakish drive — the odds of them being more successful than their peers is predetermined long before they ever enter the gates of the Ivy Leagues. The elite degrees are effectively certificates showing that these people officially possess these traits…traits that are almost always based on genetics/luck.
Participant[quote=FlyerInHi][quote=spdrun]Or find friends who are into hiking rather than nightclubs…[/quote]
They did a study of hiking demographics. It’s almost like skiing. Hikers are earthy crunchy middle to upper middle class. They are likely to drive Subaru, Prius or even Porsche Cayenne. You have to buy some equipment and take trips which cost money.
Poor people don’t hike.[/quote]
Nonsense! When I was dirt broke, my friends and I hiked regularly — at least once a week. We’re talking hiking (and some repelling with cheap gear that one of my friends had left over from his Army days), not hard-core mountain climbing, which probably costs a bit more.
California is filled with great places to hike. Just drive the beater car a few miles and you’re there. Pack some apples, maybe a couple of (cheap) granola bars, some water, and that’s all you need. Easy peasy.
March 18, 2015 at 2:54 AM in reply to: The cost of an Ivy League undergrad degree next year…. #783925Participant[quote=scaredyclassic]
I think I love work but sometimes just packing it in doesn’t sound bad.I turn 52 in two weeks…and I cannot afford to quit. Still gotta pay off those dang student loans…and other things…[/quote]
I often think about your situation and the fact that you (and your wife?) have student loans you are still paying off. It’s one of the many reasons that we’ve decided to have our kids stay home and attend local JCs/universities for their undergrad degrees. It’s a bit depressing to know that a doctor and lawyer are still paying off their loans in their 40s and 50s…and that’s for an education that cost a whole lot less than it does today. 🙁
We desperately need to direct more public funding to education instead of constantly starting extremely costly wars around the world.
March 17, 2015 at 5:14 PM in reply to: Is it a terrible time to buy if you plan to stay for the long term? #783913ParticipantBack on topic…
As to Mugums’ post, I think it depends on what you want to do. If you really plan to live in the house indefinitely, and if you’re financing the purchase, and if you really hate renting, you might as well buy.
If you were paying cash, I’d suggest that you either finance to buy or hold off for awhile until interest rates get higher.
The low interest rates have been pushing prices up, and when looked at from just a price perspective, I’d say that prices are bubbly and due to come down at some point…the question being when, of course. But if you’re financing, the monthly payment is going to be fairly close to rent, and that’s an indication that buying is probably the right choice, especially if it’s a very long-term purchase.
Welcome back, and good luck on your house hunt! FWIW, I would at least wait until September-December to buy, as you can usually save tens of thousands of dollars vs. purchasing in the late winter-early summer months because of seasonal changes in the market.
March 17, 2015 at 5:08 PM in reply to: Is it a terrible time to buy if you plan to stay for the long term? #783912Participant[quote=scaredyclassic]2800 for a 2 br split 4 ways[/quote]
People really love to rip off college kids (and their parents). 🙁
Our neighborhood is very desirable with good schools and great neighbors. You can easily find a nice 4/2 with a big backyard for that price around here.
Participant[quote=spdrun]Best to hope for lower oil prices to take some wind out of the market’s sails… then jump on something this fall or winter.[/quote]
Agree with this.
ParticipantIf your wife has to commute to/from downtown, it might be better to look at those areas located further south.
But if you do choose La Costa, LCV is a great neighborhood. Happy home-hunting! 🙂
March 16, 2015 at 4:23 AM in reply to: The cost of an Ivy League undergrad degree next year…. #783781Participant[quote=AN][quote=flu]
WHAT? UC schools are $35k/year now including room and board? Holy freaking sheet. In 9 years, with a 4% increase per year, that’s $50k/year for UC schools. Ouch… Ok, so the difference isn’t as wide.Little FLU: Ivy is back play. Now just get in. Looks like I need to put more money into the “ForMyKidNotMyPorsche” account.
Side note: anyone else thing over the next decade it’s realistic to find 4% returns consistently year after year?[/quote]Based on my calculation, current UC tuition is ~$13k and Harvard is $48k. In 9 years, at 4% increase, UC would be ~$18k and Harvard would be ~$68k. That’s a difference of $50k/year. So, after 4 years of undergrad, you’re talking about $200k. I don’t know about you, but that’s pretty big difference to me. Maybe it’s not as big of a deal if you have one kid. For me, I rather save that $200k and if he/she has the ability to get far beyond a BS and make that education investment worth it, then I can take that $200k and pay for their MD/Law/MBA. You can view it as undergraduate being a test. If you’re a MD, I don’t think people care if you got your pre-med at Harvard or at SDSU, as long as you got your MD at Harvard.[/quote]
This is what we plan on doing. The kids go to the local JC and state colleges while living at home. If they can prove themselves through their BS/BA degrees, then we can talk about the fancier colleges for advanced/professional degrees, assuming the ROI would work out.
If they don’t like it, they can get jobs and pay the difference between what we’re willing to pay and the cost of whatever it is they want to do. Fortunately, they “get it” and seem totally okay with our plan as we’ve been preaching about it since they were born. And if they want to get student loans, we’re going to drop our subsidy by the same amount in order to discourage them from taking on any student debt (we’ve been preaching about that, too).
Participant[quote=cvmom][quote=CA renter]lpjohnso, I think you’ll be very happy about your decision to stay put. Great choice. Best of luck to you and your family!
And save, save, save!!! :)[/quote]
I agree! I highly recommend http://www.mrmoneymustache.com , they have a great forum, lots of money-saving tips.[/quote]
That’s a great blog!
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