1. 30k/year is REALLY high for tuition. Most state flagships -- which are some of the best universities in the entire world -- aren't that expensive. UIUC, definitely one of the best CS departments in the world, has tuition that's about half that per year [1]. And that's a top-tier state flagship research university; a bit of an overkill for any but the most ambitious (phd or md or jd or elite co.)-bound students. The regional campuses, which do an excellent job at preparing you for typical entry level industry gigs in most fields, have tuition closer to $10k/year [2]. If you want a "normal" life -- decent salary in exchange for a 40 hour work week, in a relatively normal stress environment, and without attending a top-tier graduate program -- don't go to a top-tier state flagship.
2. Most private universities do have sticker prices in that range, but a) why go non-elite private (e.g., mid-low tier liberal arts colleges) since they're usually not even as good as comparable public schools, and b) almost no one actually pays the sticker price at private universities. The average discount factor at private universities is around 50% [3].
3. It's definitely possible to make >$10K each year while doing university full time. Even very conservative estimates -- state minimum wage and only working summers/weekends with no overtime -- put the number north of $8K [4].
4. Living at home is often an option (not always, but the percentage of people who can't live at home and also don't qualify for need-based aid has to be pretty small).
5. Four years is an upper bound, not a requirement! College-ready students can and should transfer credits from high school AP, IB, or college credit courses; one of those three options is available in the vast majority of US high schools. Students who are not college-ready should start off at community college, which, again, brings the price down substantially.
So, for example, if you:
* go to your local branch campus of a state university like SIU-E or UMSL,
* live at home,
* work a minimum wage job for 40 hours over the summer and on the most weekends during the school year [4], and
* come in with sophomore standing OR do you first year at community college
then you can graduate with a very modest amount of debt (less than a used car, or possibly none at all). Cutting any one of those assumptions still keeps you well below $100K and possibly much lower than even $30K.
Plus, some of those assumptions are conservative. E.g., for most of that time you should be able to make substantially more than minimum wage by taking internships, tutoring ($20/hr+ is typically a "low" rate), etc. Scholarships and fellowships are typically available as well.
College is far too expensive in the USA, but you really have to be a huge outlier to graduate from undergrad with $100K in debt. And it's still possible in many parts of the country to graduate with "used car" worth of debt or even no debt at all.
Part of our "college affordability" problem is real, but part of the problem is a "buying luxury goods with a credit card" problem. Attending one of the best universities in the world and living in their dorms and staying for four full years and not working full time over the summers + weekends during the school year... that's the most expensive option possible. There are plenty of much less expensive options for most college students in the US.
> 1. 30k/year is REALLY high for tuition. Most state flagships -- which are some of the best universities in the entire world -- aren't that expensive.
So what? Prestigious schools are notoriously egalitarian toward the students. If you get accepted to Cal Tech, you are guaranteed to be subsidized. Nobody "can't afford" to go to Cal Tech, but there are people who don't test well enough.
> 2. Most private universities do have sticker prices in that range, but a) why go non-elite private
Because most people aren't even average collegiate level intelligence.
> 3. It's definitely possible to make >$10K each year while doing university full time.
Not sure what this is supposed to say, but surviving is hard out there. Especially around any school (public or private). Most people in massive debt, try to work it off.
This whole post seems a little holier than thou. Least of which is the perspective that people could (or would) attend "best universities", which is more than a little presumptuous. This debt hole is so common it appears in US media from TV (eg Grey's Anatomy, Devs, etc) to the newest films.
So, people are choosing to go to expensive universities that don't subsidize their tuition. It's a choice, and there are much cheaper options for most of the country.
If you're paying $30K in tuition and planning on a "normal" career path, then you're paying way too much.
> This whole post seems a little holier than thou
Well, if sound financial advice is perceived as a personal attack, then we're never going to solve this problem.
People whose parents can support them by allowing them to live at home for free during college can graduate with almost no debt by attending a cheap institution, working while going to school, and getting a head start in high school or community college. And most people whose parents cannot allow them to live at home will qualify for state and federal grants.
This country does have affordable college options for most people. The problem is that most people who go to college choose the more expensive options (state flagships and non-elite private universities) even though their local state university branch campuses are capable of providing a perfectly adequate education at a third of the price.
More importantly, the only way we'll reduce the debt burden on undergraduates is by providing more subsidy to state branch campuses. That will only work, however, if people choose to go to those state branch campuses. There's just no world where the taxpayer subsidizes a big chunk of room&board&tuition at research institutions for the majority of college students. For the top ~5% of students by merit, sure. But that model just doesn't make any sense when there are far cheaper options.
> eg Grey's Anatomy
Medical debt is an entirely separate issue. Intertwining it with the undergraduate debt issue confuses things -- the solution to med school debt will be different from the solution to undergrad debt.
2. Most private universities do have sticker prices in that range, but a) why go non-elite private (e.g., mid-low tier liberal arts colleges) since they're usually not even as good as comparable public schools, and b) almost no one actually pays the sticker price at private universities. The average discount factor at private universities is around 50% [3].
3. It's definitely possible to make >$10K each year while doing university full time. Even very conservative estimates -- state minimum wage and only working summers/weekends with no overtime -- put the number north of $8K [4].
4. Living at home is often an option (not always, but the percentage of people who can't live at home and also don't qualify for need-based aid has to be pretty small).
5. Four years is an upper bound, not a requirement! College-ready students can and should transfer credits from high school AP, IB, or college credit courses; one of those three options is available in the vast majority of US high schools. Students who are not college-ready should start off at community college, which, again, brings the price down substantially.
So, for example, if you:
* go to your local branch campus of a state university like SIU-E or UMSL,
* live at home,
* work a minimum wage job for 40 hours over the summer and on the most weekends during the school year [4], and
* come in with sophomore standing OR do you first year at community college
then you can graduate with a very modest amount of debt (less than a used car, or possibly none at all). Cutting any one of those assumptions still keeps you well below $100K and possibly much lower than even $30K.
Plus, some of those assumptions are conservative. E.g., for most of that time you should be able to make substantially more than minimum wage by taking internships, tutoring ($20/hr+ is typically a "low" rate), etc. Scholarships and fellowships are typically available as well.
College is far too expensive in the USA, but you really have to be a huge outlier to graduate from undergrad with $100K in debt. And it's still possible in many parts of the country to graduate with "used car" worth of debt or even no debt at all.
Part of our "college affordability" problem is real, but part of the problem is a "buying luxury goods with a credit card" problem. Attending one of the best universities in the world and living in their dorms and staying for four full years and not working full time over the summers + weekends during the school year... that's the most expensive option possible. There are plenty of much less expensive options for most college students in the US.
[1] https://admissions.illinois.edu/invest/tuition
[2] https://www.siue.edu/paying-for-college/tuition-and-fees/und...
[3] https://www.insidehighered.com/news/2018/04/30/nacubo-report...
[4] (408.2512) + (168.25(52-12-3)) = $8,844