Clay Shirky on AI and student learning; Michael Strong on teaching ethics; Naomi Schaefer Riley and Jim Piereson on financial aid; Tyler Cowen on the plight of universities regarding AI
"total financial aid for graduate students grew enormously between 2003 ($39.4 billion) and 2023 ($66.6 billion)."
Respectfully, I hate this sort of (ubiquitous) argument by giving context free numbers. A quick Google shows a $1 in 2003 was worth $1.74 due to inflation. So $39.4B comes to... $68.6B in 2023 dollars. That is....
Grad student financial aid didn't even keep up with inflation!!!
I have plenty of reason to think we shouldn't be financing some of grad school, but this sort of innumeracy is invokes doubts about credibility.
The College Board report (figure SA-4) makes it clear it's adjusted for inflation and in 2023 dollars. Its been about flat since 2011 having apparently finally reached some kind of saturation. The shocking part of the chart looks like a housing bubble graph and was during W Bush, up 75% in real terms in just six years.
It would seem this refers to federal aid but I can't read the article to confirm. Either way, I'm curious what it costs the federal govt to provide loans to grad students. Seems like it would be rather small, especially if these people are good credit risks, as the quote implies.
My graduate/post doctorate education cost me nothing in 1988-1995. I was even paid a stipend the entire time which more than covered my living expenses. I don't know how much of that was paid by grants from the NSF and NIH, but I do know some of it came from corporate research grants, too.
"total financial aid for graduate students grew enormously between 2003 ($39.4 billion) and 2023 ($66.6 billion)."
Respectfully, I hate this sort of (ubiquitous) argument by giving context free numbers. A quick Google shows a $1 in 2003 was worth $1.74 due to inflation. So $39.4B comes to... $68.6B in 2023 dollars. That is....
Grad student financial aid didn't even keep up with inflation!!!
I have plenty of reason to think we shouldn't be financing some of grad school, but this sort of innumeracy is invokes doubts about credibility.
The College Board report (figure SA-4) makes it clear it's adjusted for inflation and in 2023 dollars. Its been about flat since 2011 having apparently finally reached some kind of saturation. The shocking part of the chart looks like a housing bubble graph and was during W Bush, up 75% in real terms in just six years.
Thanks, I wasn't gonna go beyond the paywall for that
Yes- the comment I came here to write. Perhaps the author had already controlled for inflation?
"Graduate education has to go. "
It would seem this refers to federal aid but I can't read the article to confirm. Either way, I'm curious what it costs the federal govt to provide loans to grad students. Seems like it would be rather small, especially if these people are good credit risks, as the quote implies.
How do you sift through all these essays?! Thank you!
My graduate/post doctorate education cost me nothing in 1988-1995. I was even paid a stipend the entire time which more than covered my living expenses. I don't know how much of that was paid by grants from the NSF and NIH, but I do know some of it came from corporate research grants, too.