Ohio - alternative tuition plan proposed.

[coasterville95]

Cliff Peale tweeted that there is apparently a proposal out there that the various Ohio public universities would eliminate traditional tuition and replace it with a plan where you sign over 3% of your income for the 24 years following graduation.

Academic for us as Xavier is not a public school in Ohio. However, there mere thought that i would still be indentured to the State for 6 more years - and I graduated in 1995 is depressing enough.

I'm sure an actuary figured this one out, and if the state can levy the 3% out of your check via garnishment, the state schools may actually have more chance of getting their money (eventually), and when it's about the size of a tax, maybe they hope you won't notice it.

[Kahns Krazy]

Back of the envelope, that seems like a pretty good deal for students, especially those considering traditionally lower paying jobs.

Lots of flaws in that idea though.

[drudy23]

Something's gotta happen...so I at least give credit for new ideas.

[XU 87]

Something's gotta happen...so I at least give credit for new ideas.

I agree with that. But maybe they should do things like making college professors teach more than 2 classes per semester. Or eliminate many of the administrative positions. Or stop building brand new buildings when you don't have the funds to build them.

When I was in law school I worked at the front desk one year. One of my jobs was to take professor's expense reimbursement forms to the Bursar's office for reimbursement. It was ridiculous the stuff our tuition dollars paid for (like continuing education classes in exotic resort areas).

[XUFan09]

This is just popped into my head, so I'm really unsure of the logistics or practicality, but...

Why doesn't Xavier sell a lot of their services to outside companies and then not include them in tuition and fees? They then don't have to have adminstrators overseeing those services and the new employers will pay for the same employees. Then, if a student is interested in something, such as access to the rec center, the student includes that cost in their loan package but it would be a personal expense rather than a tuition expense. If not everyone is paying for things like the rec center, then the cost per interested student would go up, but hey, then it's more like real life (and hell, I only pay $42 per month for my rec center).

The rec center is just the example I think of because I feel like it could be easily outsourced and its location on campus would still make it very accessible. I can't think of other similar services at the moment, so I invite suggestions. But, if you pooled enough of those together, you reduce the costs to the students (and they can pick out what they actually care about) and you could also eliminate a number of administrative positions, potentially including some more senior positions with high salaries.

[XUFan09]

To clarify, I think this could be something that all colleges should do, not just Xavier, in the effort to move away from the ridiculously expensive bubble or resort that college has become.

[X-band '01]

Let's say that I make about $30,000/yr for 24 years using Coaster's figures - that would be $21,600 by itself.

If I made $40,000/yr for the same timeframe, that would be $28,800.

I wonder what they would do for law and med school - would they just collect 3% for a lifetime?

[bleedXblue]

This is a great idea. You could also do things like lower the rate or raise the rate base on GPA, whether or not you graduated etc,etc

I love incentives to motivate and reward those that do well .

[Kahns Krazy]

To clarify, I think this could be something that all colleges should do, not just Xavier, in the effort to move away from the ridiculously expensive bubble or resort that college has become.

Universities have built those perks and built them into tuition so that they can waive tuition for the students they really want there. If you put the rec center on a for-profit model, it is no longer available for the university to offer as an incentive for a desirable student, and it becomes harder and more expensive to truly offer a "full ride".

[Snipe]

I think we should let college grads declare bankruptcy, because they have been sold a bill of goods that isn't as fat as advertised. I think the bad debt should flow to the University, and then they would advise people much better in attaining value. No more multi=cultural majors just for the fun of it.

I would love to cut the funding to all of the liberal universities. Letting kids go bankrupt would do that if you put it on the institutions themselves. Pay for play. Why subsidize a whole bunch of liberals that can't think straight? let them all file for bankruptcy.