Pay that tuition suckers

I came across an article that I found pretty funny.
Funny in a sad way.

The university of Michigan has a diversity chief making a salary of over $400k.
All that money and he oversees a total of 12 employees.....

"Robert Sellers, chief diversity officer and vice provost for equity and inclusion, has seen his income skyrocket since being appointed to the position in October 2016. According to U-M records, Sellers was paid $190,000 as a professor of psychology in 2012-13."

For comparison purposes

"U-M President Mark Schlissel was paid $852,346 in 2018"

A bit more on the university budget.

The University of Michigan received $370.4 million in state taxpayer dollars through the Michigan higher education budget for the current fiscal year. The university’s total operating revenues for its fiscal year that ended on June 30, 2018, were $3.028 billion, not including patient care revenue collected by its hospital system. Of this, $1.310 billion was collected from net student tuition and fees."


You will note that student tuition was $1.3 billion.
The college has aprox 45k students so that averages $29k per student. Not sure if that includes student housing costs. I think It does since this is a state university.

Know what you're paying for kiddies.
Enjoy the crushing student loan debt...

www.michigancapitolconfidential.com...

The one thing I will say is a University of Michigan degree is on par with any Ivy League school. They are top ten in almost any academic field. That being said they are all in on the SJW BS as well. I am just saying their degree is worth more than one from other crappy B10 schools or even over 90% of other universities.

a reply to: Metallicus

I would agree with that statement.
They are one of the better state academic universities.

And truthfully the ivy league colleges are not what they once were.

Student loan debt is so frustrating.

I went to the University of Illinois. It is now offering free tuition for freshmen (who meet certain qualifications). I would have qualified for that free tuition. Think they'll reimburse me $26k?

Instead, I had a ton of debt and a degree I don't use. I begged not to go to college. In all fairness, I understand I was 18 and had a choice, but I really didn't.

originally posted by: headorheart
Student loan debt is so frustrating.

I went to the University of Illinois. It is now offering free tuition for freshmen (who meet certain qualifications). I would have qualified for that free tuition. Think they'll reimburse me $26k?

Instead, I had a ton of debt and a degree I don't use. I begged not to go to college. In all fairness, I understand I was 18 and had a choice, but I really didn't.

This, exactly. I was "forced" to go to college, and I definitely don't use the degree that I ended up with. If I had to do it all over again, I'd probably end up in the exact same job (or same type of job), but without the significant debt.

Parents should definitely not force their kids to go to college, especially if the kid can demonstrate a path to not being dependent on their parents' income in order to be successful.

My best friend is a welder. Taught himself in his parents' garage, only paid for the materials (gas, etc), and the necessary certifications to be hired, then a company paid for him to learn how to SCUBA dive and weld underwater. He makes 3 times what I do, and I'm in the tech field. His total investment (not including gas & tools, as he has no idea how much he paid back then) is about $1,500.

College is definitely NOT the only answer. Heck, you can teach yourself software development at home for free nowadays, pay for a cert or two, and start out at $70,000ish as long as you can prove that you can do the work. Why pay for college?

ETA: If you want to be a lawyer, or doctor, etc, then it makes sense to go the college route. Otherwise, college is ridiculous.

a reply to: narrator

You are correct.
I tell kids to be careful with any degree outside of s.t.e.m. fields.

originally posted by: Bluntone22
I came across an article that I found pretty funny.
Funny in a sad way.

The university of Michigan has a diversity chief making a salary of over $400k.
All that money and he oversees a total of 12 employees.....

"Robert Sellers, chief diversity officer and vice provost for equity and inclusion, has seen his income skyrocket since being appointed to the position in October 2016. According to U-M records, Sellers was paid $190,000 as a professor of psychology in 2012-13."

For comparison purposes

"U-M President Mark Schlissel was paid $852,346 in 2018"

A bit more on the university budget.

The University of Michigan received $370.4 million in state taxpayer dollars through the Michigan higher education budget for the current fiscal year. The university’s total operating revenues for its fiscal year that ended on June 30, 2018, were $3.028 billion, not including patient care revenue collected by its hospital system. Of this, $1.310 billion was collected from net student tuition and fees."


You will note that student tuition was $1.3 billion.
The college has aprox 45k students so that averages $29k per student. Not sure if that includes student housing costs. I think It does since this is a state university.

Know what you're paying for kiddies.
Enjoy the crushing student loan debt...

www.michigancapitolconfidential.com...

Tuition will only come down when student loans are significantly curtailed. The easy financing from student loans has allowed Universities to jack up their costs because the loans distort the market and the value of the degrees.

We've saved a decent chunk for our kids. My hope is that they get academic scholarships. I rather set the money aside for them to start a business or pre-fund their retirement.

There are probably only about 30 to 50 universities in the US that are worth going in debt to attend. Even then, some are better than others and degree matters.

It is one thing to go into debt to attend MIT for STEM or Harvard and other Ivy / Prestigious schools were a decent job is almost guaranteed. I can see someone taking on debt as those schools can open up doors. However, it makes zero sense to go into debt to attend a 2nd tier school.

a reply to: narrator

I definitely agree. Some jobs, like you mentioned, absolutely need continued education. Also if you are going to be a surgeon, it makes some sense to go hundreds of thousands of dollars in debt because that is how much you are going to make in a year once it is all said and done.

The average University attendee will make far less than that.

Trades are not for everyone, but we need to stop treating trades as if they are a back up plan or for those who are too dumb for school. They are very important professions that require little investment and you can start earning a salary earliest in life.

I used to get so frustrated when I saw needless University project around campus. Like this is what my outrageous tuition is going towards? Someone supervising 12 employees for 400k would definitely fall into needless.

a reply to: Bluntone22

Thanks obama Donald Trump
Clinton Bush ...
I don't even know/care anymore...

a reply to: odzeandennz

I think you had it for a second, when the government got into the student loan business everything went to hell.

originally posted by: Bluntone22
a reply to: odzeandennz

I think you had it for a second, when the government got into the student loan business everything went to hell.

Ironically, those on the left can't seem to figure this out. They will complain about the cost of college, but then in the same breath demand more govt subsidizing of student loans.

Student loans are why the costs are inflated.

No bank would ever loan someone $200,000 so they can get a job that at best pays $50k/yr. I've literally seen people with $200-$300k in debt and they will never make more than about $60k/yr!

In the mortgage business, we'd be crucified for "predatory lending". However, Universities get away with this nonsense.

originally posted by: headorheart
Student loan debt is so frustrating.

I went to the University of Illinois. It is now offering free tuition for freshmen (who meet certain qualifications). I would have qualified for that free tuition. Think they'll reimburse me $26k?

Instead, I had a ton of debt and a degree I don't use. I begged not to go to college. In all fairness, I understand I was 18 and had a choice, but I really didn't.

You did have a choice, but you don't want to accept that.

My brother and I were raised by the same parents. When they tried to control me at 18 I told them bite it (much more nicely of course) I left home and suffered a bit, but made it out ok.
He couldn't cut the apron string. I begged him to do it, to jump. He refused because in reality he needed the security/cushy lifestyle my parents were offering.

Fast forward decades later, he still blames them for a lot of life's ills. I told him he had a choice, he didn't think so, but he really really did.

By the way, we both have degrees, I paid for mine 100% and with scholarships, clep/dantes.
My parents paid for the majority of his but stopped at 4 years, and made him pay for the remaining two.

Huh.
And I found an Accredited online college, where I can get a degree, in a job I've been working in for 23 years, for about 9K.
Which would only mean a little better pay.
But I'm thinking about it.

Glad I skipped the debt when younger, for sure.

originally posted by: chiefsmom
Huh.
And I found an Accredited online college, where I can get a degree, in a job I've been working in for 23 years, for about 9K.
Which would only mean a little better pay.
But I'm thinking about it.

Glad I skipped the debt when younger, for sure.

Be Careful regarding online degrees. Some employers don't look at them highly even though it is accredited.
The better route to go is a college/community college that offers those degrees online but it appears as a normal degree.
I know it's just schematics but it does make a difference. If there are two candidates with exactly equal qualifications, one has a regular degree, and one has an online degree, I hate to say it but that online degree is going to be seen as less difficult/prestigious, whatever you want to call it. The tides are slowly changing, but we are not there yet.

BTW not knocking online coursework, I found my online course actually more difficult!

spectrum.ieee.org...

a reply to: JAGStorm

Meh.
I know they look at "real" colleges differently.
But between my age, a bit of social anxiety, and the fact that I would really just be doing this for me, as I found a job I really like, and can grow with.

Just something I'm thinking about, without going into any kind of debt.

originally posted by: Edumakated

originally posted by: Bluntone22
a reply to: odzeandennz

I think you had it for a second, when the government got into the student loan business everything went to hell.

Ironically, those on the left can't seem to figure this out. They will complain about the cost of college, but then in the same breath demand more govt subsidizing of student loans.

Student loans are why the costs are inflated.

No bank would ever loan someone $200,000 so they can get a job that at best pays $50k/yr. I've literally seen people with $200-$300k in debt and they will never make more than about $60k/yr!

In the mortgage business, we'd be crucified for "predatory lending". However, Universities get away with this nonsense.

While I'd disagree that political affiliation has anything to do with it, I think you hit the nail on the head. College is so expensive now, the vast majority of people can't afford it, and they're forced to take out giant loans. Most banks won't loan that big of a sum to 18 year olds without a job, so they're forced to get loans from the government.

Lower the ridiculous cost of college, and we as a country won't be so tied to government loans.

a reply to: JAGStorm

I acknowledged I had a choice in my first post. I still find it frustrating when putting your self $100k in debt is the best choice for yourself. I don't blame my parents, I blame the inflation costs of education.

a reply to: narrator

Thing is that when government got into the game to "make college affordable" by making cheap loans available for everyone, colleges had no incentive to keep their costs low, so they bloated degrees (well rounded=3 credit hours of way too many useless subjects not related to major), added useless degree programs ( --- studies, anyone?), and kept jacking up the cost of tuition per credit hour because the government will always pay.

Pretty soon, it wasn't just the poorest who couldn't afford paying for college out of pocket, no one could.

You see the same market distortion forces at work in the health care industry where everything is priced into the pockets of third parties like the government and insurance companies putting it out of the price of most private individuals.

originally posted by: ketsuko
a reply to: narrator

Thing is that when government got into the game to "make college affordable" by making cheap loans available for everyone, colleges had no incentive to keep their costs low, so they bloated degrees (well rounded=3 credit hours of way too many useless subjects not related to major), added useless degree programs ( --- studies, anyone?), and kept jacking up the cost of tuition per credit hour because the government will always pay.

Pretty soon, it wasn't just the poorest who couldn't afford paying for college out of pocket, no one could.

You see the same market distortion forces at work in the health care industry where everything is priced into the pockets of third parties like the government and insurance companies putting it out of the price of most private individuals.

I agree completely, the whole system is screwed up. Same with insurance companies. We need a hard reset on both.