Off Topic US College

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OzZee

Proud Parent
Hi,
Can anyone please explain all about college education in the US.

So how many kids go to college (university)?
How many (percent) would get a scholarship?
How much does it cost and how much are the scholarships worth?
Not talking just gymnastics scholarships here, all scholarships available.

It seems a very different system than here. We don't have sports teams and gymnastics/sports scholarships. A few universities offer academic scholarships but only to the very top percent of students. There are a few scholarships for financial difficulty and indigenous students. But most universities don't offer any scholarships.

Something I wonder about everytime the scholarship thing comes up.
Thanks
 
When I went ( in the UK) 5 % went to Uni, there were no course fees and you even got grants, those were the days - now kids are coming away with a degree in golf course management or surfing and £30,000 of debt, I worry for my kids
 
I think that about 2/3 of high school graduates go on to college. Not sure on scholarships and such really, but the majority do graduate with quite a bit of debt.
 
OK. Found a few more stats:

0.3% of full time students in college are there with a full scholarship.
0.7% of full time students have some form of athletic scholarship

Cost of college estimates:
Private: $30,000/year
Instate public: $9000/year (you live in the state the college is in or in a state with reciprocity)
Outof state public: $22,000/year
 
OK. Found a few more stats:

0.3% of full time students in college are there with a full scholarship.
0.7% of full time students have some form of athletic scholarship

Cost of college estimates:
Private: $30,000/year
Instate public: $9000/year (you live in the state the college is in or in a state with reciprocity)
Outof state public: $22,000/year

I'm at private and it's $60,000 a year. I wish it was only $30,000!!
But a lot of people get financial aid which is great!!

The number of students who have a full scholarship are pretty low as skschlag mentioned above, but very few people are playing full price.

I recommend applying for any scholarships one can find. My brother got a dunkin donuts scholarship!! It was only a certain amount toward one year but any money toward college is awesome!!
 
^^Agree... my private university tuition was $30,000/year and I graduated 18 years ago. It is much higher now.
 
The data I got was from the College board : According to the College Board, the average cost of tuition and fees for the 2013–2014 school year was $30,094 at private colleges, $8,893 for state residents at public colleges, and $22,203 for out-of-state residents attending public universities

I am guessign that there is quite a range for private colleges...the one my son wants to attend is right at 35,000 a year..

Basically, though, it is really expensive...
 
I am assuming that does not factor in room and board. ? A search just showed my alma mater's 2013-2014 tuition to be $39,000, but with room and board, you're looking at $56,000/year. Granted, that seems to be on the high end.
 
Also, our state university for in-state residents will cost you $29,000. In our region: $37,000. Outside of region: $50,000. It's crazy.
 
Four year degree and they will end up with $200,000 debt How many of those students will be able to get a job that pays well enough to pay off that, buy a house and a car?

In Quebec a 3 year university degree program costs us about $7000 CAD per year in tuition plus room and board if you are away from home. Probably well under $40,000 in total. Lots of loans and bursaries available here as well.
 
Four year degree and they will end up with $200,000 debt How many of those students will be able to get a job that pays well enough to pay off that, buy a house and a car?

In Quebec a 3 year university degree program costs us about $7000 CAD per year in tuition plus room and board if you are away from home. Probably well under $40,000 in total. Lots of loans and bursaries available here as well.
If we listen to Dave Ramsey and pay with cash we won't have debt
 
Holy cow, that's expensive!

I paid around 2.000$ for public university last year (I'm converting here, because we actually pay with euros), but that was because I'm studying in the only county that hadn't yet disposed of tuition fees. As of this year, the costs are down to 770$. Basically, we only pay for free public transportation within the county and very small amounts for registration, exams and such. I cannot imagine paying that much money for a higher education! I couldn't afford it either!
 
When I went ( in the UK) 5 % went to Uni, there were no course fees and you even got grants, those were the days - now kids are coming away with a degree in golf course management or surfing and £30,000 of debt, I worry for my kids

£30k! I wish...due to dh's executive masters we are about $160k in student loan debt! He does make a very high income but ... Still crazy!
 
£30,000 is for an undergraduate degree (about $50,000) - just the fees, I am assuming that the parents still keep the child (ie rent, food etc) as most have to travel away for uni.
 
One thing to note is that Private Universities tend to have more money to hand out in financial aid than State Universities. For example, when I went to college 20 years ago, it was going to cost me the same amount out-of-pocket to attend my State University as the Private one I choose, even though tuition/room/board at the Private Uni was about $22,000 more per year than the State school. The Private schools tend to have large endowments that they can hand out any way they choose to get the students they want. I ended up with a combination of school sponsored grants and scholarships, plus federal grants and loans that made the private school much more reasonably priced. I had about $12,000 in loans when I graduated. I was also able to save a little money by graduating in 3.5 years instead of 4 due to dual college credits I earned in high school. With my kids, we are always looking for the high school classes that will earn them dual credits since those credits can be worth quite a bit of $$ in the long run.

My University was D3 for sports (there are 3 Divisions in NCAA sports plus independent schools not part of the NCAA) so they could not officially award sports scholarships (only NCAA D1 and D2 schools can award athletic scholarships). However, the D3 schools usually find a way to offer academic or need-based aid to the athletes that want to attend their schools, especially the private schools.
 
If we listen to Dave Ramsey and pay with cash we won't have debt


Most of us don't have upwards of $200k laying around in order to pay cash for an expense like this. We do have a college fund, but we also have to live during the time between now and college. Rising college costs are a huge issue in the US as they are pricing many folks out do to drastically rising costs.
 
Sounds like similar costs to here then - around $30k.
We don't have state colleges though for a cheaper option. Do have TAFE which is like a local post school college with mostly vocational and trade type courses.
Kids generally go to a local university and live at home. (so different to the UK experience)
And pretty much no scholarships.
 
Most of us don't have upwards of $200k laying around in order to pay cash for an expense like this. We do have a college fund, but we also have to live during the time between now and college. Rising college costs are a huge issue in the US as they are pricing many folks out do to drastically rising costs.
Dave's response to that would be - if you don't have the resources to cashflow it then you have no business going. Pick a less expensive school. Live at home. Get a job/start your own business to save up money, then go to college. Or don't go to college at all. Find a career where you don't need a 4 yr degree. In the US, we have been conditioned to believe that you HAVE TO have a degree to get anywhere in this world. That simply isn't true. And you certainly don't need to go to a $60K/yr college. The middle class in particular has been conditioned to think that if you don't go to college, you are somehow a failure, which obviously isn't true either.

Also, like another poster mentioned, while the private colleges appear to be very high, they typically give a lot more in the way of scholarships and grants than public schools give. The Ivy's are usually the most expensive but they are also some of the most generous (based solely on income/need)

As for the input from other countries being much lower - lets not forget that those education systems are heavily subsidized through very high taxes, like many other social systems. And while the US system is also subsidized, it is on a much smaller scale and mainly through loans.
 

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