… in the Minneapolis Star Tribune notes that the most charitable description of what’s been going on at the clubby University of Minnesota medical school would be “bizarre.”
Tuesday, June 17, 2008
There He Goes Again...
From the Daily:
"I think the result was better for the University that it could have been. But I am somewhat disappointed that we're reducing budgets at a time when I think we should increase them and I'm somewhat disappointed that we didn't have the ability to drive down tuition more for students."
Bob, why don't you admit that the plan was to charge 7.5 percent from the beginning. Here is an exchange, previously posted on the PT, that makes this clear:
"Will the Regents support a 7.5% tuition increase, Professor Martin asked? They have been told it is part of the budget plans, Mr. Pfutzenreuter said. Professor Chapman suggested that 7.5% will be seen as quite high. Mr. Pfutzenreuter agreed but pointed out that for Minnesota residents the legislature provided funding to buy down the increase by 2%, so it will only be 5.5% (for students from households with an income of up to $150,000). Professor Chapman said he was sorry to see such an increase in an election year; Mr. Pfutzenreuter said the other choices are increased state funding or less new investment." Senate Committee on Finance and Planning, September 18, 2007
Note the date of this discussion, Bob, last September. There was never any intention of a lower number.
So we have Tom Rukavina to thank for driving the tuition down, even 0.25%. Not this universtiy administration...
"Hardly anyone will pay 7.5 [sic] percent, if you look at all the scholarship money we've raised in the last two years. So I believe while the tuition increases were somewhat higher than inflation, that we're really doing a good job of raising private money and providing other financial support to help students with the cost of education."
A little math, Bob:
Student Debt = [What the U charges + what it costs to live] - [Financial Aid + Earnings...]
in shorthand: SD = Cost - Student Resources
You can brag until the cows come home that the amount of student aid money is going up, but as long as the cost is going up even faster, then student debt load will continue to increase.
Explain to me please, the following numbers.
According to Kiplinger, we have the highest average student loan debt of any (public) school in the BigTen:
Average Debt at Graduation
Big Ten Public Universities
Ohio State $18,130
Michigan State $22,147
Penn State $23,500
Are these numbers correct, Bob?
If so, why aren't you willing to admit that we have a problem with student debt here at the University of Minnesota? The debt load of our graduates ($25,000 according to Kiplinger) is the highest of any public BigTen school, including Michigan!
at 7:46 AM