so, today.. i was looking at my tuition bill for mccombs. it has increased at an average 5% each year since 2007.
so i thought.. hmm what would this look like if it continued to increase at 5% rate over the next 25 years…
yeah. that looks a little ridiculous. $17.4k for in-state undergrad public university tuition!? but even if we went down a notch to just increasing at 3%/yr, we would still be paying double the amount of our current tuition in 25 years.
“Meanwhile, at the University of Texas at Austin, tuition and fees now account for nearly two-thirds of total revenue — compared to only about 40 percent in 2002.”
“At the University of Texas at Austin, the administration has taken an opposite path in recent years, adding rather than cutting faculty, and paying ever-higher salaries to compete with major universities nationally, said Chief Financial Officer Kevin Hegarty. In the last ten years, he said, the university has added 30 faculty members a year, in addition to replacing those who leave.”
“In the early 1970s the state paid for nearly 85 percent of the cost of running the educational side of The University of Texas at Austin. Today, the state-appropriated fraction of the total budget for UT Austin is below 20 percent… ” now the university is depending on its current students and alumni to fill in the gaps.
please feel free to correct me or enlighten me.. opinions and all things are welcomed. so yeah, definitely if somewhere in my calcs i went wrong, that would be good. really good.
prepareeeeee for the fuuuuutureeeeeeee