Tuition skyrocketed by 175! After surveying the returns of 4,500 universities in the United States,

Mondo Finance Updated on 2024-03-01

U.S. college tuition is really going up every year!

Just recently, the Duke University Board of Trustees approved the cost of undergraduate enrollment for the 2024-25 academic yearIncrease by 435%to $86,886 ($66,325 in tuition, $20,561 in room and board). Previously, Duke's undergraduate tuition for the 2023 academic year has exceeded 49%。

Duke is by no means the only U.S. university to raise prices. According to the College Board--

For the 2024-25 academic year, the average private college tuition in the United States will:, the average public university tuition fee will be

Among them, we are familiar with Harvard University, tuition **32%, Yale tuition **34%, Princeton**36%;Public Berkeley, California, in-state student tuition**29%, out-of-state student tuition**38%……

Rise and go up every year! The data published by US News shows that --

Private university tuition for the past 20 years, out-of-state tuition for public colleges, in-state tuition is even more

With such a high tuition fee, how much return can there be?

In 2022, George University conducted a survey of 4,500 colleges and universities across the United States on the return to higher education, specifically economically. The survey showed:

Short-term (within 10 years).Public colleges and universities have a higher rate of return than private schools, because public schools have lower tuition fees, and students are able to graduate as soon as possible and start working and earning money;

10 years laterThe average salary of students in private schools is higher than that of public schools;

Look at the elongation of the front (40 years).Private schools have higher returns, and the 50 universities with the highest returns include both the elite universities we are familiar with, as well as many schools that are not so "famous" in the eyes of our Chinese parents, such as St. Louis College of Pharmacy, American Merchant Marine College, University of the Pacific, etc.

English version: Ranking 4,500 Colleges by ROI (2022) -CEW Georgiatown

Studying these data, we found that although 60% of college students earn more than high school graduates after 6 years, but unexpectedlyYescolleges and universities (30More than half of the students are 6 years after enrollmentAnnual earnings are lower than those of high school graduates。You may ask yourself: If you think about the economic return, is it worth it for me to push my baby to an elite university?

Chinese parents who have reached new heights

Chinese parents in the United States have chicken babies, which is already a recognized fact in the whole universe. From the "Tiger Mother" Cai Meier, who came out of the circle more than ten years ago, to the world-famous "Bay Area Parents", Chinese parents are the kings in the matter of the education of the next generation.

There are already a lot of famous cases, and recently I heard two more true stories that have reached new heights.

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Story one.

The associate professor personally tutored the children's Olympiad team.

Mr. Wang is not in the Bay Area, but he is in a school district with good educational resources in the eastern United States. My son entered the gifted class of the district's 10-point public school last year, and it was "logical" for the child to participate in the Olympiad math competition.

The school's teachers and training are already in place, and Chinese parents will "add material" to their babies in private, (the almost all Chinese faces standing on the podium for so many years are enough to prove how hard parents and children fight in private) Parents should be reassured.

However, Mr. Wang was still not satisfied with the school's competition equipment and the results of the previous years, so Mao recommended himself to help the students prepare for the Olympiad team competition.

Mr. Wang gave two reasons for why me:

1. He was born in competition, and was a member of the Olympiad team in high school and college. 2 He teaches at a well-known university in the state, and has many years of front-line teaching experience, although teaching students, doctoral students and middle school students are different, but he was once rated as an "excellent teacher" by students, and he believes that he can touch the bypass. An associate professor of a prestigious university has to be busy with scientific research, classes, academic conferences, project projects, and doctoral students, working 60 hours a week.

Rao is like this, Mr. Wang also has to spare two hours a week to participate in the activities of the children's Olympiad team, and he has achieved an all-round "ruthless" to the children and himself in the matter of chicken babies.

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Story two.

Ivy League Chinese ABC "bursting" gap year.

The concept of gap year should be familiar to everyone.

In foreign countries, it is not uncommon for students to have a gap year, and after being admitted to a university, students choose to postpone enrollment for a year or a period of time, and take advantage of this gap to travel, work, experience life, think about life, and so on.

I know a white family whose children chose to delay their entry into college by a year and go to Europe to teach skiing and earn money while visiting Europe.

Usually, most people choose to do something that they have always wanted to do but have no time to do during their gap year, after all, the first two or three years of applying to college are very hard for students, and it is not too much to treat yourself after you have worked hard.

But the gap year has been "broken" by some outstanding Chinese students.

An Ivy League ABC I know didn't look for a job or continue his education after graduating from his senior year, and he also gave himself a gap yearBut instead of traveling or experiencing life, they went to work as technicians in the lab where they wanted to study for a PhD.

Why don't you apply for a PhD before you graduate? On the one hand, the competition in the experimental group he wants to go to is too fierce, and many people apply every year, and his major is not completely matched, so the chances of winning are not great.

When this kid contacted the tutor of this laboratory before, the other party politely suggested that he find a related job and do it for two years before considering applying to their group, or study for a master's degree first and take some professional courses before coming back.

The child chose the first path. Didn't you let me work first, then I'll come to your group to apply as a technician.

Laboratory Fundamentals Technicians are usually required to have only basic relevant experience and be able to handle some of the most common tasks in a laboratory in the field. Of course, the salary is not high, earn a basic salary.

With this kid's Ivy League background, popular majors, and excellent performance in the past four years, it is not difficult to find a job with an annual salary of $100,000 like his classmates after graduation.

But he has a clear goal and values the long-tail effect, although the treatment of a technician is not good, and he is not a regular employee, he can win in the multi-pronged approachYou can understand the situation of the laboratory in the front line, get close to the tutor, accumulate some professional skills, and show the loyalty and determination of "you must be" to the tutor.

Of course, the mentor doesn't mind a newcomer with a bright background and a loyal person "deigning" to do the work for him. Not surprisingly, after a gap year in the laboratory, the child was able to turn into a regular child. Someone else's gap year is happy, and the gap year of Chinese children is hard-working.

From Chinese parents to Chinese students, they can't lose a Chinese soul of "seeking progress and rolling to death".

I once read a survey of how middle-class Asian parents spend their children's education. The authors break down six subcategories of education spending::

School fees (e.g. tuition, books, uniforms, etc.).

Remedial tuition (e.g. tutoring, tutoring, etc.).

Recreational classes (e.g. **, dance, fine arts, etc.).

Sports (e.g. sports equipment, club membership fees, etc.).

Cultural activities (e.g. museums, theaters, films, etc.).

Computer and Internet (e.g. computer hardware, software, network services, etc.).

After the survey, it was found that except for white households that outcost Asian families in sports and cultural activities, the remaining four Asian families won steadily. In addition, Asian parents spend more on housing for their children to receive a quality K-12 public education than white families.

Whether it is real gold** or practice, Chinese parents have almost exhausted everything in their children's education.

Don't choose a school, don't push STEM

The "Buddha" of the Chinese parents who "lie flat" is also scary

However, this is really not the whole picture for all Chinese parents.

Having lived overseas for many years, I have also seen many Chinese parents who are Buddhist and "lying flat".In terms of the education of the next generation, they choose to stay away from anxiety and rank their children's physical and mental health and parent-child relationship ahead of grades and prestigious schools.

Five years ago, when I met Leo's mother, Leo was a fourth-grade elementary student. At the time, Leo was studying in a "public school that Chinese parents would not choose" in our area. The school has a score of only 7, and a few blocks away is the highest public school in the area with a score of 9.

Leo's father is a software engineer and his mother is an accountant, and the housing prices in the small town are not outrageous, and with their family income, it is not difficult to buy a house in that school district and let the children study.

All the Chinese parents I know in the town send their children to that 9-point public school, Leo is one of the few Chinese faces in the 7-point school, except for a few visiting scholars who come to the United States for a year or two to study and temporarily put their children there, as a resident Chinese parents, they will not let their children choose a 7-point school when they are qualified to go to a school with a score of 9.

And the reason why Leo's parents are willing to let their children go to school there is because his two best friends who have played since he was a child are studying in 7 points school. From DayCare to the present, the friendship between the three children in the first ten years is more important in the eyes of Leo's parents than sending their children to a 9-point school.

A school with a score of 7 is not as good as a score of 9, but the difference between two points in primary school is not necessarily a world of difference, and it is not too late for him to be willing to study and work hard after middle school. "That's what Leo's mom and I said at the time.

They also don't have a bit of utilitarianism in the selection of LEO's interest classes. Many Chinese parents let their children learn musical instruments and engage in a certain sport, all so that their children can have a bonus point when they go to school in the future.

Leo likes to draw, and his parents help him find suitable interest classes and teachers together, and the children in the surrounding art exhibitions and art museums will accompany him as long as they like it.

Leo will most likely not take the path of art students in the future, and it is difficult for children to apply for college if they can draw, but because their children like it, parents are willing to support them unconditionally.

They don't have high expectations for LEO, and it would be nice for their children to grow up healthy and happy, and then maintain good grades, go to a state university in their state (ranked 60 or 70), choose a major they like, and be able to devote their lives to exploring and engaged.

If Leo is a "puwa", and parents can still accept Buddhist parenting, then Lynn's parents are even more different. Lynn's parents were first-generation immigrants who studied for a Ph.D., worked, and obtained status, and both husband and wife were in Kochi.

Lynn inherited the mind of her parents, is a good seedling of learning, has been top in science since childhood, and also loves literature, poetry, and writing, and participates in the school's stage drama club, writing scripts and acting.

Usually for children like Lynn, Chinese parents must be desperately pushing down the STEM path, participating in various competitions, completing various AP courses, and then applying for a difficult major in computer science or science and engineering at a prestigious school, and coming out to find a high-paying job or continue their studies. As for poetry and script writing, it's good to have fun as a hobby.

But Lynn's parents are completely dependent on the baby =--

Children love to write, they don't interfere;

Children put a lot of energy into the creation of stage plays, they do not interfere;

The children said that they might consider applying for a literature major or a minor in creative writing when applying to college in the future, and they did not interfere.

They just speak their minds when their daughter needs advice, and then trust that with her mind and the home education she has received, she will make choices that are responsible for herself.

Why do Chinese parents who "lie flat" bear not to push their babies?

Why are there Chinese parents who are so "Buddha" about their children's studies?

First of all, some Chinese parents who have lived abroad for a long time are indeed influenced by local cultural values, tend to respect children's choices and interests, encourage them to pursue their dreams, and pay more attention to children's well-being and personality development, rather than just pursuing utilitarianism and grades.

Especially if you are in a "lying flat state" (such as Arkansas, Mississippi, Alabama in the south-central), there are few Chinese around you, and the atmosphere of pushing babies is weak, so you will "follow the local customs" and do not want to interfere too much in your child's learning.

My friend lives in North Dakota, a state of North Dakota on the border with Canada, where the entire Asian population is a little more than 5 percent, the most well-known universities are ranked in the 200 or so, and the winters are cold and long, and there is nothing to do but play hockey. The chicken baby's time and place are favorable, and it can be said that one is not occupied. Living in such a place, a hot-blooded chicken baby heart can also give you a whole hibernation.

Public schools with low scores are also very good to read, children play what they like better than hard work and money to push a specialty, and children will be admitted to a state university in their own state (some states' "state flagship" colleges and universities are also very good in terms of teaching quality and employment rate) It is more cost-effective.

Secondly, some Chinese parents of Buddhism have always been the king of the rolls, from exams, further education, work to settling abroad, they know the hardships involved, and they don't want their children to repeat the mistakes of the pastAfter all, I worked hard to break out of this road, but also so that future generations can live less hard.

They know very well that the so-called success in life is not something that can be obtained only by papers, and many times it depends on the dividends of the times, whether they can seize opportunities, and their own desire for success.

Such parents are more open-minded and have a clear understanding of their baby, and they decisively choose the latter between the future of their children and a healthy parent-child relationship.

Finally, the decline in the rate of return to higher education abroad has also affected parents' enthusiasm for chicken babies.

The George University report also measured whether students with advanced degrees earned more than workers with high Chinese qualifications in the six years after graduation.

Of the 4,500 colleges, 60 percent earn more than high school graduates after six years; But there iscolleges and universities (30More than half of the students are 6 years after enrollmentAnnual earnings are lower than those of high school graduates(Low income may be associated with factors such as low graduation rates and income disparities by gender, race and ethnicity).

Ranking 4,500 Colleges by ROI (2022) -CEW Georgian Higher education is still a stepping stone to social advancement, but we must also admit that this stepping stone is not as good as it used to be.

In the U.S., undergraduate college enrollment fell by 8% from 2019 to 2022, and while the pandemic has had some impact on this, according to the U.S. Bureau of Labor Statistics, the decline began before the pandemic, and the decline in college enrollment has been the worst on record since 2018.

In the survey,Nearly half said they couldn't help but see a full return on the time and investment required to study at university. With soaring tuition fees and soaring student debt on the one hand, and a career door that is becoming increasingly difficult to knock on with a diploma on the other, the value of higher education is inevitably questioned.

Chinese parents will never give up the idea of letting their children go to college at the moment when the gold content of higher education is depreciating, after all, "starting from undergraduate" is the traditional obsession of Chinese parents. It's just that the obsession with Ivy League schools and elite schools will be reduced by a few points in comparison.

Whether it is rolling or lying, when it comes to the education of the next generation, it may be a group drama, each family has its own difficulties, and each family has its own experience. It's just that the protagonists of the drama of education are the children, and it's always right for us to listen to and respect their ideas, otherwise the chicken baby will inevitably end up empty.

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