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Thread: The scary amount college will cost in the future

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    Veteran Member bajisima's Avatar
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    The scary amount college will cost in the future

    Yikes!!

    Think college is expensive now? Then new parents will probably want to take a seat for this news.

    In 2036, just 18 years from now, four years at a private university will be around $303,000, up from $167,000 today. To get a degree at a public university you'll need about $184,000, compared with $101,000 now.

    These forecasts were provided by Wealthfront, an automated investment platform that offers college saving options. It uses Department of Education data on the current cost of schools along with expected annual inflation to come up with its projections.

    https://www.cnbc.com/2018/05/17/atte...ll-charge.html
    Thanks from Friday13

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    Only the 1 percenters will be attending.

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    Veteran Member bajisima's Avatar
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    Quote Originally Posted by THOR View Post
    Only the 1 percenters will be attending.
    You would think so and that these increases cant happen but try to tell that to the boomers today who bought their little 1500 sq ft home in the early 70s for 20K and its now worth 300K. People are still buying. If you had told somebody that homes would cost that much back then, they would think the average American salary must be in the millions to afford that.

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    Quote Originally Posted by bajisima View Post
    Yikes!!

    Think college is expensive now? Then new parents will probably want to take a seat for this news.

    In 2036, just 18 years from now, four years at a private university will be around $303,000, up from $167,000 today. To get a degree at a public university you'll need about $184,000, compared with $101,000 now.

    These forecasts were provided by Wealthfront, an automated investment platform that offers college saving options. It uses Department of Education data on the current cost of schools along with expected annual inflation to come up with its projections.

    https://www.cnbc.com/2018/05/17/atte...ll-charge.html
    I'd rather buy rent producing property for my children. I'm not sure if those numbers are inflstion adjusted, that's important.
    Thanks from Ian Jeffrey

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    Council Member Djinn's Avatar
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    Quote Originally Posted by bajisima View Post
    ... These forecasts were provided by Wealthfront, an automated investment platform that offers college saving options. It uses Department of Education data on the current cost of schools along with expected annual inflation to come up with its projections. ...
    Not saying the claim is false, but it's coming from a company that makes money from people who are investing their college savings. They have a financial stake in convincing people they need to save more college. Just something to bear in mind.

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    Quote Originally Posted by THOR View Post
    Only the 1 percenters will be attending.
    There are only so many 1%er children and a much larger capacity to educate.

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    Veteran Member bajisima's Avatar
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    Quote Originally Posted by Djinn View Post
    Not saying the claim is false, but it's coming from a company that makes money from people who are investing their college savings. They have a financial stake in convincing people they need to save more college. Just something to bear in mind.
    True but again look where college costs were just in our lifetimes. Not saying it will rise that high, but it surely could.
    Thanks from Djinn

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    Veteran Member EnigmaO01's Avatar
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    Anybody that is paying the tuition rates these days is a fool already. You can buy a franchise with the amount of money people are paying for college now.

    I'd find a trade if I had to deal with college costs now. One of my young customers is in a trade apprenticeship, has no debt, and is actually being paid on the job while his friends that went to college are hand over fist in debt, living with their parents, and trying to get a job that pays enough to pay off their college debt.

    I have nothing against college as I have a degree, but to me it appears it's become nothing but a scam in some cases.

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    Veteran Member EnigmaO01's Avatar
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    Quote Originally Posted by bajisima View Post
    True but again look where college costs were just in our lifetimes. Not saying it will rise that high, but it surely could.
    I remember when I could pay for next year's tuition with my summer job! You can't even make a dent now!

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    Veteran Member bajisima's Avatar
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    Quote Originally Posted by EnigmaO01 View Post
    Anybody that is paying the tuition rates these days is a fool already. You can buy a franchise with the amount of money people are paying for college now.

    I'd find a trade if I had to deal with college costs now. One of my young customers is in a trade apprenticeship, has no debt, and is actually being paid on the job while his friends that went to college are hand over fist in debt, living with their parents, and trying to get a job that pays enough to pay off their college debt.

    I have nothing against college as I have a degree, but to me it appears it's become nothing but a scam in some cases.
    Around here, being a tradesman has a negative connotation. It means you arent educated and this is a highly educated area. Guidance counselors in high schools actively tell students they must attend college or they will just be a plumber. Its not right but thats the way it is around here. Of course this is home to boarding schools and a large chunk of the Ivy League schools so there are masses of alumni that think exactly that way.
    Thanks from StanStill and Ian Jeffrey

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