Don't forgive $50,000 in student loan debt.

[Bubba]

I blame the institutions that pay people like Elizabeth (Pocahontas) Warren $450k for teaching one course.

Can't disagree with that point (if it's true in her case - I don't know) but there are plenty of professors who teach one or two graduate classes with TAs taking on the undergraduates.

[easyrider16]

One thing that has always puzzled me about U.S. universities is, where the heck does all that money go? Absent aberrations like paying Warren that kind of cash, it's certainly not the professors. Most professors make pretty average salaries. The campuses these days are stunningly gorgeous, so maybe that explains part of it. But I don't think that accounts for the massive increases in tuition, or where that money has been going. Administration? Endowments? Special programs? I have no idea, but it makes no sense unless somebody somewhere is making a lot of cash off this.

[deadheadskier]

One thing that has always puzzled me about U.S. universities is, where the heck does all that money go? Absent aberrations like paying Warren that kind of cash, it's certainly not the professors. Most professors make pretty average salaries. The campuses these days are stunningly gorgeous, so maybe that explains part of it. But I don't think that accounts for the massive increases in tuition, or where that money has been going. Administration? Endowments? Special programs? I have no idea, but it makes no sense unless somebody somewhere is making a lot of cash off this.

You are a Mass resident yes? The highest paid state workers are almost always University employees


https://www.bostonglobe.com/2020/01/07/ ... kers-2019/

[Stormchaser]

One thing that has always puzzled me about U.S. universities is, where the heck does all that money go? Absent aberrations like paying Warren that kind of cash, it's certainly not the professors. Most professors make pretty average salaries. The campuses these days are stunningly gorgeous, so maybe that explains part of it. But I don't think that accounts for the massive increases in tuition, or where that money has been going. Administration? Endowments? Special programs? I have no idea, but it makes no sense unless somebody somewhere is making a lot of cash off this.

Expansion. In the past 10 years, my office has worked with multiple universities on new construction projects. Dropping 20-30 mil at a time for new classroom buildings, parking garages, accessibility improvements, new dorms, etc. Like they've got money to burn...

[XtremeJibber2001]

I think real wages for most jobs have been pretty stagnant, unless you're in one of a few hot fields. Automation is a huge and growing factor. Outsourcing overseas was a big factor in the last decade or two but I think that's mostly run its course I think. Stagnant wages plus increasing education costs equals lower standard of living for the next generation.

I'm right on the cusp, but I think I'm technically GenX. I think there are good and bad apples in every generation, but by and large people haven't changed. GenX, Boomers, etc were all considered arrogant and entitled by the prior generation, and then they turned to the next generation and called them arrogant and entitled. Same for millenials. I've met plenty of good hard working ones and plenty of bozos. I think macroeconomic factors and technology have more to do with the current situation than the attitudes of young ones.

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If you pick an employer and stay put, income growth is terribly stagnant ... often raises are less than inflation. A lot of times larger employer's merit process includes built-in restrictions preventing raises above a certain percentage ... so merit increases are almost always out of the people manager's hands (they can pick 0-3% increase only). You have top performers getting 3% and avg performers with 2%. Pretty ridiculous. Anyway, it's just one of several contributing factors. Moving employers frequently is one way to combat stagnant wages.

Outsourcing, in my field, remains a significant factor. At my employer we have more contractors/consultants than colleagues. We save a lot by using off-shore contractors do remedial work, on-shore contractors manage the off-shore guys, and colleague managers the lot. I might pay an off-shore contractor $100k/yr, whereas hiring someone in the US with the same skills as a FTE would probably cost double.

Now we're embarking on AI/ML/BOTS to do some of the tasks contractors do. Some of the stuff we do is pretty impressive and can take the place of multiple contractors. It's only going to get worse.

Expansion. In the past 10 years, my office has worked with multiple universities on new construction projects. Dropping 20-30 mil at a time for new classroom buildings, parking garages, accessibility improvements, new dorms, etc. Like they've got money to burn...

+1. My alma mater created (from scratch) a college of Medicine and a Law School. They built a Squash Center, Athletic Center, etc. When I visit today it looks like they're trying to buy up the entire western half of the city