19 Burst results for "Ron Lieber"

"ron lieber" Discussed on You Need a Budget

You Need a Budget

04:52 min | 2 weeks ago

"ron lieber" Discussed on You Need a Budget

"You're constantly sweating whether you're going to have enough heads in beds because if you miss your number right if you're supposed to have a thousand freshman and you end up with nine hundred sixty amidst do the math right. Forty people per year times. Call it forty thousand dollars. You know after discounts in net to intuition revenue overall revenue per student. Right you can see how that turns into like millions of dollars of mess over the course of four years. If you don't get it right. This is a big deal. A lot of money so stake jobs are on the line and you make a totally reasonable point. Anybody listening at this point may be wondering themselves. This doesn't make any sense at all. Why don't they just lower the list price altogether. Well if you ask you know the schools this they say that's not our fault. That's your fault right because what you want is a consumer is an extremely high perceived value and then you want to get a deal right so you know if you get these people you know you get a few drinks in them. Loosen them up on the hiking trail or whatever they begin to tell you like what a strange psychological shell game. They found themselves and just to be clear right. These are not bad actors. These are people who inherit a system and need to work within in order to have a career it is not at all clear how we dismantle this in one fell swoop without a lot of antitrust exemption and a whole bunch of sweat and labor. Yeah i mean your book to be fair. You don't really go into. And i think this is how we remedy this. You just say. Here's here's the plainfield and information is power and i felt. I just tremendously more informed even just seen. Okay here's the mail that comes into certain neighborhoods and it makes you feel like you're you know. Everyone feels like their kid is special. I have seven sewed summer more special than others. Probably but you know it's it's just this idea that you want you want to think that your your kid is an absolute superstar and the marketing. There was a line that you had in there. You just basically said like marketing is emotions or something like that and just was fascinating to me to think of higher ed. That's almost like this untouchable on a pedestal. Just their sanctity there and now you just kind of exposed at all like well. Maybe not so much. Well said there's two ways to think about that right. I mean. I agree. And i don't merit aid is a coupon a coupon is marketing marketing designed make you feel a certain way. And that's what these discounts to do. So i think you're right on about that. But i would not want to and i hope i didn't reduce some of the magic that can and should exist in residential undergraduate education..

forty thousand dollars Forty people millions of dollars four years two ways nine hundred sixty seven sewed summer one fell swoop a thousand freshman
"ron lieber" Discussed on You Need a Budget

You Need a Budget

05:54 min | 2 weeks ago

"ron lieber" Discussed on You Need a Budget

"Or how do you accidentally spend boatloads of money and one of those is college higher education. I am so happy to have back on the podcast ron lieber. He wrote a book several years ago. That changed my mind around the idea of allowance. It was called the opposite of spoiled. Ron lieber is the money columnist for the new york times and all around fantastic individual he. is extremely to talk to because he researches to death these topics and just goes in deep and this book it's called how to pay for college is absolutely no exception now. I'm a little biased. Here because my oldest is a junior in high school and so it's like here we go. I'll also shoot straight here and say i for many years have been certain. I wanted to help kids with college. I thought well maybe just. Maybe it doesn't help them. You know maybe Just grinding on their own is the best thing and i would say as much kids you know. I used strategically lies apparent and i would be like. Hey you're on your own. You're on your own. You're on your own well ron's book again. It's called how to pay for college. It's it started to change my mind and it is. It's not an easy read in the sense that you just can fly right through. He goes into depth on every single aspect of college. Some disturbing things like the idea of merit aid and i'm doing air quotes for people. That aren't watching where we how we got here. Why it's so expensive. How colleges are funded revenue optimization the idea of gap years. I'm doing that savvy or you may be go to community college. I stayed schools private schools and then only word he kinda blows our minds by saying well. What exactly are you buying. And are you clear with that and then if you have more than one child which yours truly does. Is it different for each kid. Anyway this is the longest intro of all time but wrong. Labor is a highly respected money expert and has a knack for at least between him and me changing my mind on things and this is one where he he did it again. He got me thinking harder about this. And i loved loved gone through the process. So without further ado ron labor of new york times money calmness and author of the book how to pay for college..

Ron lieber ron lieber more than one child new york one several years ago how to pay for college ron each kid single aspect boatloads of money
"ron lieber" Discussed on How to Money

How to Money

03:42 min | 2 weeks ago

"ron lieber" Discussed on How to Money

"To tell folks tell our listeners about you know just that. I'm glad to have this out there. I am here to help and my feeling about this after it was all said and done was hope more than anything else you know. I went to a lot of schools. And then i could imagine my daughter happy and thriving just about all of them that's awesome. I'm glad to hear that that even through all of this. Yeah you're able to land on hope at the end of it. So ron you rock. Thank you so much for this conversation and we appreciate it man i. It was great to be here. Thank you all right. Matt ron lieber just rocketed up the list seriously. My favorite human beings. Yeah what a fun conversation and just enlightening just He brought so much. Passion wisdom and energy to this conversation. I honestly wish my oldest kids like my oldest daughter was older like older almost so i could put some of this to work like like some of what i learned. I want to implement. I think sometimes you sit on knowledge like this well. This is good to know. Now that i wish i could put this to use. I wanna start saving myself. Money now makes me want to adopt a fourteen year old. Do it dude. So i can implement it do it. That would throw up. Some other family dynamics talk to your wife about that for all the on that one. But yeah what was your big takeaway from our condo with ron. Well like at the end. We asked about community college. And he's specifically made a point to say that he wasn't against community college In order to save money but halley high percentage of folks who go to community college. Don't actually end up transferring to a state or private school and he said that if that is your approach. If that's what you're gonna do you're gonna go to your local community college to save some money get some of the prerequisites some of the base classes out of the way. You need to make sure that you have in mind your goal your end goal. You need to know your wi specifically. He said how. It's good to have a specific school in mind. You know like you're not just going to community college to to save money so that you don't have to pay that money to wear to what school you know. Have a have a school in mind. Even have a specific degree in mind. There's nothing worse not having credits transfer when you're like this is totally workout..

Matt ron fourteen year old ron
"ron lieber" Discussed on How to Money

How to Money

04:25 min | 2 weeks ago

"ron lieber" Discussed on How to Money

"I like i love the fifth point here is is the ron lieber way which is calling for more transparency when it comes to merit aid and i love it Let's let's talk about real quickly here like getting what you pay for. You know you spend a lot of time in your book writing about value. We're all about getting you know the most bang for your buck when it comes to higher so like what should students and parents be looking for in college and i know you cover a lot of this in your book so hundred pages dedicated to wanted to pick like a few of your favorites here. I'm curious to hear your thoughts here. Well it starts with a framing question. Right you can't have that conversation before you have defined what college means to you and this is not some existential philosophy one on one exercise. It's actually a real rhetorical question. Because it repeatedly as iran lapse of the country was a whole bunch of people out there flinging hundreds of thousands of dollars around that hasn't really stopped to ask themselves like what is the definition of success. Here and how much is enough right. What is college four anyway and it turns out the colleges for three things. We named check him before college is about the intellectual roller coaster ride. It's about the learning it's about having your brain broken apart and then reassembled by an expert practitioner into a bigger better version of what it used to be right. Psychologists about the education number one number two colleges about the kinship. It's about finding the people you'd never could have imagined existing in the world and making them your best friends who will pick you up on their shoulders and carry you through life and it's about finding the mentors who will do the same thing but maybe they're like dragging you by the neck into a bigger and better version of yourself right and that's number two number. Three's the credential maybe it's a baseline credential that allows you to you know grasp hold of the middle class in a way that your family has not been able to before..

hundred pages fifth point hundreds of thousands of dolla three things Three one exercise two one college four
"ron lieber" Discussed on How to Money

How to Money

04:47 min | 2 weeks ago

"ron lieber" Discussed on How to Money

"Ron lieber about how to get a better deal when you're going to college and Ron one of the things actually that that recently changed Surrounded financial aid was the expected family contribution when you fill out the fafsa sadly that happened after the publication of your book. But you wrote about it in the new york times since then. So what effect is that. Change in the fast. They're going to have families sure so. Let's start by framing what we're talking about here. We are talking about the need based financial aid system. The fafsa does not have much of anything to do with merit aid whole different way. That marinade those discounts. are awarded rights. While we're talking about here is need base stayed in order to get aid from the federal government so in order to access a pell grant or the federal student loan program or federal work study funds for jobs on campus or parent plus loan. You gotta fill out one of these fafsa things and people hate the fast. The fafsa is arguably more complicated than the ten forty you know income tax for him and you know the kid gets involved and the parents are involved so parents refused to do it. And if you're a kid who's a strange from your parents or a parent. It gets very complicated. I you know super super messy stuff. So you know the most important thing that's happened. Is that the fastest going to be simplified. Which is a good thing right. It's going to be easier to fill this thing out a couple other. Things are happening. it's gonna be easier for more people to get pell. Grants and pell grants are going to get a little bit larger rights people with lower incomes. Going to have an easier time. Now there's some other things that are changing that have caused people in the middle class and upper middle class to wring their hands. One of the provisions has to do with the fact that got two kids in college at once..

Ron two kids new york Ron lieber one ten forty One of the provisions
"ron lieber" Discussed on How to Money

How to Money

01:35 min | 2 weeks ago

"ron lieber" Discussed on How to Money

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"ron lieber" Discussed on How to Money

How to Money

04:31 min | 2 weeks ago

"ron lieber" Discussed on How to Money

"There are the families who are like writing this check against the bank of thank god right so you know. Imagine yourself You know just hoping against hope that your kid will go to tulane university the same way that you did right and you know that. The places much more selective than it used to be and maybe your kid has had a rough go of freshmen. Sophomore year in high school. But they've totally turned it. Around junior year they managed to get you know a seat at an. Sat test center. And wouldn't you know it. They scored a fifteen twenty and two lane. Says you know what we're gonna take a shot on on your kid. We're going to give you the benefit of the doubt. We believe in your family and you tradition of coming to school here but no discount for you. And you're like wow. I can't believe we pulled this off. The kids got to go to two lane. We don't care what it costs bank. Thank god and then they're all of these families from outside. The united states and many of them are zillionaires and they don't care much about the price either they just wanted degree from a relatively brain brand name institution or just one that says america on it and if you can attract enough of those folks particularly now that there is someone in the white house who is not as hostile to people showing up here from outside of the united states in general you have reason to right so those are all the reasons you keep the list price high ron. Let's talk about college. Enrollment in covid. Obviously we've seen college enrollment fall because of the pandemic and you actually mentioned a study in your book that sixty percent of professors and administrators have said that their courses are worse in the virtual era. So how do you think college The college value proposition has changed because of kobe. Well so you know we should stop and think about how we define decline right. Because in different tiers of undergraduate education there have been different levels of decline. And at the you know. Let's call it. Two hundred most selective colleges and institutions in america. The you know the ones that have stayed open more or less You know have not seen huge. Declines sort of devastating revenue declines. And the thing. That's interesting about it is that you know people are showing up to pay the same prices. They paid last year for the most part. Yeah there've been a few discounts here and there but but not many right. And so i i guess here's what i have to say about that right What happened in the spring of twenty twenty is that everybody got sent home and all the sudden you know the three main reasons for going to college right. The education the kinship. You know the friends you make in the mentors you require and the credential to those things were stripped away as you mentioned in the question right. Education got a lot worse. Everybody knowledge is that kinship is like blown to smithereens. Because you're not near your friends or your mentors anymore. Only the credential is left and you know it's a question you know how much the credential matters right if you're a food and beverage major at cornell university right here. Majoring in hotel management Arizona state or something like. How much is that credential..

Arizona last year sixty percent Two hundred fifteen cornell university spring of twenty twenty tulane university two lane three main reasons twenty one two lane white house united states america
"ron lieber" Discussed on How to Money

How to Money

02:15 min | 2 weeks ago

"ron lieber" Discussed on How to Money

"If you're wondering why men plus cares. Nuder is different. Well it's because it has forty hour protection and a plant based moisturizer that cares for your skin. It's essential oils. Provide a long lasting freshness that combats sweat and odor. Yeah the new dove men plus care eucalyptus and birch keeps you feeling fresh throughout the day. This formula is designed for men to give you a prediction that actually works new dove men plant based care go to dav dot com and click on the men plus care section to learn more or buy it now at walmart and target. This episode is brought to you by comcast since two thousand eleven comcast is connected more than four million students from low income families to the internet. Now they're launching more than one thousand wi fi connected lift zones in community centers nationwide to provide safe spaces to get online learn more at comcast dot com slash education. Welcome to had money. I'm joel into. I am matt today. Were talking a college cost. Cutting roadmap with ron lieber ron lieber has been the your money columnist for the new york times since two thousand.

"ron lieber" Discussed on The Meb Faber Show

The Meb Faber Show

07:44 min | Last month

"ron lieber" Discussed on The Meb Faber Show

"People didn't like what was going on at all. If you think going to college is something that people for three reasons which i do. The education the kinship and the credential. The education got a lot worse real fast. People didn't like that and the kinship essentially disappear. Your peers are scattered to the winds. Your professor is wherever he or she is. It's hard to former maintain ship relationship. So all that's gone. The only thing left is the credential. Get some like electric notification and jose cap and gown on your front lawn after you've come out of your parent's basement. I mean the whole thing sucked right. So was it any surprise at all that against all public health reason and against a lot of economic reason given how compromise the fall of two thousand twenty was clearly going to be that all of these students and their parents were just clamoring to come back. Why was that exactly what i think. The reason why that was is that because residential undergraduate education residential undergraduate education has come to be seen as a rite of passage in the united states. So much so that. It hasn't had to change one lick generation as we were discussing earlier and not only that even amid a pandemic when it was pretty clear that a whole bunch of people were going to get sick and they did even when it became clear that professors were not gonna come to class and they didn't even when it became clear that there was going to be no sex fewer drugs and not a lot of rock and roll these places right. People came back anyway that suggests to me that people really liked this in fact the middle class teenagers and above tweet it sort of like an entitlement. So will there be a steam locomotive of technology. Vc money the comes and obliterates it the way that it's obliterated nearly every other industry i wouldn't rule it out but is it going to happen by the time. My ninth graders going to college. I don't think so. There are all sorts of fantastic online educational technologies. That already work really well and most of them weren't even tried in the spring they're used for people who are forty seven who have decided to finally go back and finish their degree or get a new one. They do that part time online at night. And it's awesome for them but that's not what eighteen year olds or shopping for and i don't think we're about to see a sea change where eighteen year olds are going to be shopping for something. Different and think about who. The consumer of the product is of residential undergraduate education the consumer of the product graduate schools and entry level employers so unless and until graduate students graduate schools and entry level employers. Start asking for an fact preferring the product of an entirely new form of undergraduate education. That has yet to come into existence unless and until that happens at some kind of mass scale such that the parents paying the bills are willing to take a chance on something else entirely even if their kids want it. I don't think we're going to see a sea change couple of quick topics. And we let you go. I essays income sharing agreements a positive negative debt by another name. Not a big deal with your takeaways. I think it's interesting that they emerged in enforce at least at purdue. University purdue is an interesting case study and appreciate. They're only doing it there with certain degrees. And here's why federal student loan limit roughly thirty thirty one. Thirty two thousand dollars for most undergraduates. If you are an engineer at purdue maybe you're from out of state maybe it's gonna take you four and a half years. Maybe that higher tuition is causing some strain on your family but you're getting a.'s and b.'s. You had great internships and you know that when you get out you're going to be earning eighty to one hundred thousand dollars a year and you just need another ten thousand dollars at that point signing up for an income share agreement makes a fair bit of sense may even be a better deal than a private loan which would just create more complexity and our financial life. And so for those folks. Is that a reasonable deal. It's certainly a worthwhile experiment. As with all of these experiments that we're performing on teenagers. Let's not forget what we're doing here. I'm not sure this one should also turn into a trillion dollar experiment. Not at least until we have a couple of decades. The data about how it affects decision making later on you mentioned startups in the space of the software side. Trying to help you with these decisions. I've seen at least a dozen. Maybe two dozen and the space and there have every possible flavor. Some in south america. Obviously lambda schools the most famous for the software side nurses targeted. Like you mentioned. It'll be interesting to see it developed and hopefully it's positive you never know these things but at least we're trying something i don't know it seems a little bit like a mask. I'd be curious to know if any of the offer companies you've seen on the whole application side. It seems like an obvious aid. So i'm a mystic chat. More about your book amy. Little fomo took me a lot back to university. We didn't have a lazy river. We did have really nice aquatic center. Virginia's beautiful campus is what i think college like you think of this beautiful trees everywhere most people when they think of school being expensive they think of buildings in like huge college football coach salaries or whatnot. But you mentioned the book that it was actually. It's a lot of just the business of managing the school. The teachers a lot of the which is actually running the school. What have you seen as the weirdest or most luxurious extravagant perk is there. Anything you're like. Oh man i shook my head. That's odd for undergraduate university. Be having so high point university. Have you ever heard of high point university. Yes but that's because. I went to high school about twenty minutes away in winston salem north carolina. So i know where it is. I don't know anything more about it. It was turned upside down and inside out by a new president. Ten twelve fourteen years ago. Who came in borrowed. A bunch of money built a bunch of new buildings at a whole bunch of great amenities and basically made it a wool for people. Who want their kids to live in the manner to which they've become accustomed and prepare themselves hard core for business careers and pharmacy careers and things like that and they've tripled the number of undergraduates. They have six or seven swimming pools. There's an on campus steakhouse where you can use your meal car. That is in effect. A place you go to learn manners and decorum the thing that i found most interesting. Anybody who's anthropological student of this sort of thing ought to go and see if you're going to visit duke or going to visit wake forest going to see chapel hill. Take a side trip to high point. It's it's like a tourist attraction at this point there is a concierge in the student union and as an undergraduate you can stop the concierge and ask for stuff ask questions about the shuttle to town book. A free ride to the airport. Whatever you want you could ask the concierge and it's the concierge his job to help you and at first glance i thought this is ridiculous right. I've never seen anything like this. What does this say about what this place stands for. But then a bunch of months later i had caused a interview one of the concierges and she said oh. This is the hardest job to get on campus. And i'm thinking myself what. wait wait. what and i said. Why is that true. And she said because the concierge is get more out of this job than the students do. I said explain that to me. She said you've got anything and everything coming at you here on any given day. So you've gotta have a ton of knowledge. A ton of flexibility a customer service orientation a little bit of the salesperson in you because you want this job to continue to exist so you wanna provide value to the user and want them to feel good about the transaction. She said i learned a ton..

six ten thousand dollars south america Thirty two thousand dollars two dozen chapel hill eighty four and a half years eighteen year Ten twelve fourteen years ago two thousand united states three reasons Virginia forty seven thirty thirty one one seven swimming pools twenty first glance
What the pandemic has revealed about the real value of college

Modern Ruhles with Stephanie Ruhle

05:25 min | 2 months ago

What the pandemic has revealed about the real value of college

"We've got a moment. We're in crisis. Can we do better. Ron lieber is asking that very question in his new book. The price you pay for college is the author of the new york times personal finance column your money ron for years and years and years. We weren't thinking about the price of college the value of college. Is it worth it. Well i think you have to start by asking yourself what college is right. what is college for. I wasn't sure what the answer to. That question was so i asked you know scores of families and i heard the same things over and over again colleges for getting an education for having your mind grown in your mind blown. It is for kinship. It is for finding the people who will carry you through life. It is for getting a credential whether it's the gold plated one that will open doors or just the degree that will allow you to grasp hold of the middle class and hopefully stay there and so in order to answer. The question of whether college is worth it. You need to find it for your individual family that we as a nation can dictate for any given individual but then how did we get to this place right. My dad worked in the summer and put himself through school and had a tiny bit of debt. After how did college get this expensive. There are so many more things pulling on our household incomes than there used to be. We are entirely responsible in most instances for our own retirement. We're paying more and more out of our own pockets for healthcare. Many people are paying off their own student. Loan debt well into their forties or fifties right so people don't have the same kind of disposable income as they might have earlier states have reduced their subsidies towards higher education which means the price of the state schools has gone up and the private institutions. They've gotten more and more expensive so the middle class. There is being squeezed. This whole idea of i want to go to a liberal arts college and better myself and in the world is will be. My voice. teacher is kind of an antiquated thought. Sure i'd like to enrich myself but not if it's going to put me in hundreds of thousands of dollars worth of debt. I remember when i was a senior in college. I went to lehigh and lee. Could absolutely help you on the career services front. If you wanted to go work in an accounting firm or be an engineer i wanted to work in investment banking so i drove to new york city with my mother and i stuck into the career services office at columbia university and i borrowed these giant binders. That had every piece of information that you needed for every bank every financial institution so you could apply for the summer internships. Now i went to the photocopy machine to start and you needed to have a school. I d to use the photocopier. I got caught. And i got kicked out the reason i bring this up. We send these kids to college but the best jobs are directly linked to only a few schools. So do we need to start looking at. Here's a college. What is the job. My child is going to get on the other side because otherwise they will be sitting here in hundreds of thousands of dollars with a debt. Yes to all of that first of all. That is the most bad ass career services story that i have ever heard your description of this as quote unquote best jobs right. I mean it is true that the best jobs in investment banking very narrow feel from certain institutions. Right unless you beat down the door but are those. The best jobs in america are the best jobs for anyone. Goldman sachs's is hiring. All these people in salt lake city now do not come from columbia and harvard and stanford mit. So then we have to ask ourselves well. These are iconic jobs in in certain social classes but are they really the best jobs out there for any given twenty two year old. I don't think so. Before the pandemic we knew there was a skills gap in the united states. We were at full employment yet. We had millions of americans who are not making enough money to support themselves. We had people who had jobs but good enough jobs. But you hear people making that argument saying you cannot afford to support yourself and your family working in a fast food restaurant but that job was never intended for someone who has a family to support. Is there an opportunity to actually create a real jobs program. A skills retraining program so it's not just about raising minimum wage. It's about retraining. People to qualify themselves for better higher paying jobs yes and that infrastructure already exists we can use the community college infrastructure to provide that skills training but we also have a shortage of qualified instructors to teach some of these skills. Why because the skills are so in demand that the people who would be doing the instructing are making five times as much money being actual practitioners. If you're a master plumber. You're not going to spend twenty hours a week teaching at a community college even though it would be a service to the community if you are a welder with twenty five years of experience right same thing is true. So how are we going to create the budget that allows for more people to be pushed through rigorous training programs. And so we need to do more I think from a state perspective and from a federal perspective not just provides the money but also to ensure equity and access to these programs

Ron Lieber New York Times RON Stanford Mit Lehigh Columbia University New York City LEE America Goldman Sachs Salt Lake City Harvard Columbia
"ron lieber" Discussed on Biz Talk Radio

Biz Talk Radio

07:35 min | 2 months ago

"ron lieber" Discussed on Biz Talk Radio

"Ron Lieber is the author of the opposite. Spoiled and be your money columnist for The New York Times. Two of his books, by the way, have been New York Times bestsellers, and he's a three time winner. The Gerald Loeb Award business journalism's highest honor. And it is so nice to have you with us because This book. Is critical. The price you pay for college. An entirely in entirely new roadmap for the biggest financial decision your family will ever make. And Ron Sending your teenager to a flagship state University for four years off on campus living cost more than 100 grand in many parts of the country. And meanwhile We know that many private schools Will triple that triple that if not more, absolutely, the retail prices have gone to the moon and the one of the things that I'm trying to make clear to. My readers is, you know, First of all, explain how it was that this happened and you know what is and is not responsible. You know, the fact of the matter is that These institutions are mostly made up of people, well trained people, professors and administrators, and they're not the cheapest people to employ. But the other thing I want to make sure that people know that, you know, give them some grief. Hope here is that you know, roughly 90% of Undergraduates do not pay the full price. They get a variety of discounts and part of what I want. My readers know is how to get him. And there are lots of grants. The Pell Grant was one that's been around for eons and so many different, wonderful grants out there and programs. Uh, Shit. What's going to kill me in on what's happening with covert and Because the learning is still happening, and I know that there were some Some students that were really not thrilled about paying full tuition for remote learning. Yeah, So there's a couple ways to think about this. Right? First of all that, you know, we should go back to the to the spring. What? What happened in March? Everybody was sent home within the space of days and cut thrust into the zoom rooms. And basically what happened was that you know, if you believe that you go to college for three reasons, if you go to college for the education For the kinship right? The friendship the mentor chip, the people and for the credential. Once everybody was sent home and march to those three things were gone right? The education was nowhere near what it wants Woz. People certainly weren't getting hang around their friends. Their measures. The only thing they were getting was the credential, the progress towards degree. So it's no big surprise that when the school's refused to do a partial tuition refund that you know somebody got in their heads to sue, but The thing that was most note worth into me with it. Even with the public health threat hanging over everybody in the fall, All of these students flocked back, and we're willing to do so at the same prices is a paid before, even though it was clear that was going to be a really compromised experience to me that gets to the Unceasing demand for the residential undergraduate experience. Yeah, I think so going to be right. But the thing is a bubble that's gonna burst or something. People want to go and they kept going this fall. Absolutely. And we actually had Lot of students from BU that were Um They were caught because they Because of all of this Kobe they started to use the hotels that were not used, and they thought that would be a native, innovative way to accommodate more of the students and because of the You can't all live together. Now you have to live individually, and so they started using the rooms at hotels locally. And unfortunately A couple of the students were caught partying, or they claimed they had people in the rooms and And they were expelled and thrown out and like, you know, $30,000 not going to be refunded to them, and that was a big mess, too. Indeed, and you know, I I get why there was controversy. You know. On one hand, the school's made it clear that they were deeply serious about their safety protocols on the other. Carrington family growing relatively Lidiya administration. And put it couldn't believe that it was one strike and you're out. But you know the school wanted to send a message and that message reverberated around the country because you know for a day or two and higher execution so you could not avoid Reading about that handful of students that were expelled. Yeah, Yeah, Parker. They take out their pie. I heard they didn't get their money back. Possible, quick, Gregor. You moving around for Way lost some of your idea. Right. Sorry, Rob. Ron, are you moving around? No, I'm not moving. I'm looking. I'm standing right here by the window. Okay. All right. Thank you. Sorry I lost you for a bit there. Okay. Should we try that again? Yes. All right. I'm gonna be mute out 543. And so I heard that a lot of those students did get their money back, though the bottom line was that they negotiated and everybody was back on page and you know, and of course, that protocol was just for the safety. Issue for all of the all of the students. Okay, so now this year On what's the value? What is a value for kids? And are they did they take The semester off for for Ah, this year. Are they going back or they're going to wait. Till till fall of 2021. What's the deal? Well, Spencer of a mixed bag in terms of the way that people have responded to this, you know, it is apparent myself, and it's somebody who writes about value for a living. It's hard for me to imagine pain $75,000 or even a you know a discounted rate. Northeasterner be you right now For this very compromised semester or year. I just don't think the value is there. But there's plenty of people who a Just want to keep making progress towards the degree and be can't really imagine what else they might do with themselves, given that the world itself is compromised, so you know they're lacking. Imagination or the initiative or or just the options where they live. To find something else to do. That would be better. But, you know, to my mind this version of residential undergraduate education that exists right now, amid the pandemic is not something that's worth paying for. I have to agree. I'm thinking about this and thinking about Be, um I I'm concerned. In general. About what? I just I just start. I just our ah, a quote or something that That said, Um How scary is it going to be in a few years when ah, all of 2020.

Ron Lieber Gerald Loeb The New York Times state University Pell Grant Kobe Carrington Parker Rob Spencer
Navigating the Maze of Paying for College

The Book Review

05:31 min | 2 months ago

Navigating the Maze of Paying for College

"My colleague ron lieber joins us now. He is a personal finance columnist for the times and his latest book is called the price you pay for college an entirely new roadmap for the biggest financial decision. Your family will ever make ron. Thanks for being here. Thank you for having me. i you know. I had trouble reading that that subtitle. Because i am. I am one of those families This biggest financial decision that i will ever make. This is a big subject. Well i mean why not call it what it is right. I mean looms incredibly large not just because the list prices are so high but also because of the emotional component of the decision right. These are our children that we've invested a lot in both financially and emotionally and we're about to send them off into the world and the enormity is not to be underestimated especially emotionally but is the enormity we sort of put on the idea of college. Are we misplacing our priorities. When we think that college sort of equated with our children's future. I think it depends on who you are. And how much privilege coming to the table with me. And you're a new york times columnist and you went to a selective school and you are reasonably well networked. There's pretty good chance that your kid is going to be okay no matter what and no matter how you define okay whether it's income or friendship or connections or happiness in the world but if you're starting from someplace else right if you are from a low income background if you are a person of color. The school can make a sizable both difference in your trajectory. So it does depend on who you are. But i also understand why families who are more privileged than average get all caught up in the frenzy because it literally surrounds us in our communities in the media and certainly in the high schools you bring up an interesting point too about what the intended not just where you come from but what your purpose is what your intention is with regard to college. I mean some people see college as primarily a financial decision means to getting a job or career or even just getting by others see college and perhaps this is the the person of privilege viewpoint. As just a fundamental part of being an educated human being other people see it as a way to compensate for what they think was a shoddy secondary school education. Just kind of becoming reasonably well educated and then others of course it is like a fun way to spend four years should the way that you view college and its purpose influence how you view that investment yes and you hit each of the big three so i spent years asking people. What is Because you have to find that for yourself before you can go shopping for it and so there really are three components right people shop for an education right. They want their kids minds. Grown and minds blow number two. They go shopping for kinship. Right you're trying to find your people the people who will come to your wedding the people who will carry your casket the people who will hire you and also your mentors. The grown-ups who will influence you. And then the last part is the credential and people think about that in a couple different ways some people come to college because they are looking for you know the the basic degree that will allow them to grab hold of the middle class and hang on for dear life right so maybe they're coming from a low income background. They want to become a teacher. They want to become an account. They want to become a nurse. Know relatively recession proof jobs and then there are people who are reaching for the sort of gold nameplates. They want doors open to them. That might not be otherwise. And if they're already from a privileged background they're already part of a fancy alumni network. They don't want their children to you know downgrade in access or privileges and so they strive for it all right for people who are not conversant in the three numbers five to nine busily worrying about this. Let's just give a sense of. What does college costs. What is the cost in america of an average public school education and an average private school education right now well from the perspective of parents. We often use rice with cost rates that there's the net price or i'm sorry. There's a list price right so the list price at the most expensive private colleges and universities right now is over three hundred thousand dollars for four years and that's after taxes by the way right does that include like food and textbook. That's everything all in. Yeah at a flagship state universities. You may pay more than one hundred thousand dollars for four years. And that's if you can get through in four years and plenty of people cannot but the net price is something different. What's going on behind the scenes. Now is that there is not just the financial aid system of old where discounts were based. On what you earned what you had right so called need basting. There's also an entirely new parallel track of financial aid known as merit aid where people are given discounts for all sorts of reasons. Maybe because you're a good student or a good leader or maybe it's because the institution is in a market segment where just no longer has much pricing power. Maybe because everybody around it is discounting her because parents who have the ability to pay are no longer willing to pay for that particular institution so it's kind of unpredictable.

Ron Lieber The Times RON New York Times America
"ron lieber" Discussed on Animal Spirits Podcast

Animal Spirits Podcast

01:36 min | 1 year ago

"ron lieber" Discussed on Animal Spirits Podcast

"In the ron lieber book that we've talked about before so it's kind of interesting to hear two sides of it and so that that was a good those who wanna think about how to teach their kids about money and finally we made it through five episodes of dark this past week this episode the new season an i was a little worried about this on you gave me a heart recommend denison last year in the first first season blew my mind in a blue the hardest recommend it blew my mind so much i made my wife watch it and i watched it again and actually watching this time helped a lot we did the same thing yeah we both did that i think in chris kelly did that in because my wife probably like yours saw swamp sold me watching it was like wait what is this yes like oh yeah it's hard to in so i watched it again i'm glad i did because this show is so mind bending in the second season easing even worse i feel like i have a pretzel in my head after watch it emotionally fight where five episodes and out of eight in the second season picks up right where the first one left off in it is so freaking good but the whole time you're going wait who they related to the who's who's who's anti that who's and there's new time i don't wanna give it away for people having watched the first season but don't give up after three of four episodes 'cause it's kinda slow in the first season and then it gets really good in a second season picks up rather left off in pretty much every episode so far there's been a twist where you're like oh oh i did not see that coming if there is a finance version of dark mark trend griffin we go forward in time and release program or a good so i highly recommend dark start with the first season if you haven't yet it takes awhile get used to because there's debris voices in it's a little slow the.

denison ron lieber chris kelly
"ron lieber" Discussed on The Wellness Mama Podcast

The Wellness Mama Podcast

02:22 min | 2 years ago

"ron lieber" Discussed on The Wellness Mama Podcast

"Slash Ron, Lieber, author and the like button there. You will hopefully see some of what I post in all sorts of people. There who are. Are super into the question of how we raise financially responsible kids and and us. You know, the years that we have to help us money to imprint the values that we want them to stand for, and I've learned a ton from that community actually not a pretty heavily for my reporting. You know what? I'm struggling with concepts on chest ideas. Hamilton as well. And then finally self serving question that I love to ask because I'm always trying to add to my own reading list other than your own. I would love to know if there are any book or books that had a profound impact on your life or that you would highly recommend. Sure. I'd say the one that has had the most impacted the last ten years comes from the guy ni Haro Richard sue just showed up might melt off one day two thousand eight, and he sent me. He's yet shes. He with sharpie, hands on hard stock, although he sees could've made them on napkins or something else. And Carl specialty is a certified financial. He's actually really good at moral is taking Willie, what feel like really complex financial questions and oil down to a simple sketch equation or thought bubble that you can put on something the size of index hard or napkins. And stuff was so good. So revelatory that I brought him into New York Times and we McCollum and a couple years after that, he put us first healthy eight, your new and for me, I have to check it out. I present the recommendation and I appreciate your time. I'm sure that you are incredibly busy as an author and writer for the times, and I appreciate you taking the time to be here into share. It remains a lot. Thanks for having me. I share your interest in what we can do it again, half -solutely, of course things to all of you for listening. And I hope to see you again on the next episode of the wellness mama podcast. If you're enjoying these interviews, would you please take two minutes to leave a rating or review on? I tunes for me doing this helps more people to find the podcast which means even more moms and families can benefit from the information. I really appreciate your time, and thanks as always for listening..

New York Times Carl specialty Willie Richard sue Ron Lieber McCollum Hamilton writer two minutes ten years one day
"ron lieber" Discussed on The Healthy Moms Podcast

The Healthy Moms Podcast

02:22 min | 2 years ago

"ron lieber" Discussed on The Healthy Moms Podcast

"Slash Ron, Lieber, author and the like button there. You will hopefully see some of what I post in all sorts of people. There who are. Are super into the question of how we raise financially responsible kids and and us. You know, the years that we have to help us money to imprint the values that we want them to stand for, and I've learned a ton from that community actually not a pretty heavily for my reporting. You know what? I'm struggling with concepts on chest ideas. Hamilton as well. And then finally self serving question that I love to ask because I'm always trying to add to my own reading list other than your own. I would love to know if there are any book or books that had a profound impact on your life or that you would highly recommend. Sure. I'd say the one that has had the most impacted the last ten years comes from the guy ni Haro Richard sue just showed up might melt off one day two thousand eight, and he sent me. He's yet shes. He with sharpie, hands on hard stock, although he sees could've made them on napkins or something else. And Carl specialty is a certified financial. He's actually really good at moral is taking Willie, what feel like really complex financial questions and oil down to a simple sketch equation or thought bubble that you can put on something the size of index hard or napkins. And stuff was so good. So revelatory that I brought him into New York Times and we McCollum and a couple years after that, he put us first healthy eight, your new and for me, I have to check it out. I present the recommendation and I appreciate your time. I'm sure that you are incredibly busy as an author and writer for the times, and I appreciate you taking the time to be here into share. It remains a lot. Thanks for having me. I share your interest in what we can do it again, half -solutely, of course things to all of you for listening. And I hope to see you again on the next episode of the wellness mama podcast. If you're enjoying these interviews, would you please take two minutes to leave a rating or review on? I tunes for me doing this helps more people to find the podcast which means even more moms and families can benefit from the information. I really appreciate your time, and thanks as always for listening..

New York Times Carl specialty Willie Richard sue Ron Lieber McCollum Hamilton writer two minutes ten years one day
"ron lieber" Discussed on The Wellness Mama Podcast

The Wellness Mama Podcast

01:50 min | 2 years ago

"ron lieber" Discussed on The Wellness Mama Podcast

"I love that. And then do they have to actually pay for the entire thing themselves or this is just kind of proof of concept in terms of me, Shirley, both. So we we right now are planning is that ideally that can pay for it themselves, which will also limit how fancy of car they can get unless they somehow create a ton of value with their first business or more happy to help them finance part of it as a way of teaching them that in explaining how that system works. But through us rather than. A Bank or something. So we would use that as a teaching experiment, but the ideal would be they can pay for the car entirely on their own and also the insurance. I want them to pay for that because I think that mentally is a level of responsibility that you take it more seriously when that's coming out of your own money versus your parents money. And it's also a great would actually teach them about insurance where they have skin in the game because in a tries we might it's difficult to dress up. Insurance is anything doll, but when it's coming out of their own pockets. And perhaps that's the point was they start getting interested in how the policy works and whether those ways to save money in talking to the agent or making speaking the insurance agent shopping for the insurance policy, a precondition to have your calls. Well, so that's really cool that you're doing? Yeah. It seemed like a good way. I've just seen people. We've even worked. And tried to hire before just kids who hit that adult age, but they've never really had to wrestle with these things before, and it's tough to have to navigate all of that on your own all of the sudden. And so we really an you talk about this so well in the book, but try to find ways that we could teach these lessons and a smaller safer scenario when they can still fail in their home with us, and we can use that as a learning experience versus like welcome to real life. And now.

Shirley
"ron lieber" Discussed on The Wellness Mama Podcast

The Wellness Mama Podcast

03:54 min | 2 years ago

"ron lieber" Discussed on The Wellness Mama Podcast

"Data plan and they're often running for maybe fifty or hundred bucks for the phone. And you know, fifteen or twenty bucks a month and at least some reasonable price. Now, if they want something more later on, that's fine. But you know the money for the date of land oughta come out of their allowance in oughta, carefully, calibrated, free, pay plan. Dan, so that they are need to watch very carefully what they have spread out over the course of the month and make sure to, you know himself to free WI fi wherever they can get it. And so you know, it becomes an exercise in budgeting for that for watching and waiting and planning and being careful and making trade offs right getting. You talked about how we're all trying to raise it alz here. It's totally true, right? We are in the adult making business as parents end one of the most important things for adults to do. But something I think we all struggle with. I know I do is continuing to have these ongoing lifelong conversations with ourselves about win something want in when something is actually eat and how to make sure that whatever money we have for our wants or spending on the things that have the most half. So healing kids as much wraps with that is possible is idea. And you know same thing's true with the car, right in recent. Eight years. All sorts of parents who were lucky enough to have more than average had themselves into this idea that because the safety equipment on cars, his gone, the whole lot better relatively quickly over the last half decade that kids just absolutely have to have the best safety equipment often be as parents are worried that they're texting while driving. So they're all sorts of ways to keep his texting while driving. But you know, if you're insistent on your kids, having you know the safety equipment that shops your power back into the center lane. If they meander hits the brakes automatically. If there's object in the road, you do not need a two thousand nineteen Acura to to get back women. There are plenty of used cars that are to revere for years old. Have that do not spend the figure out of money early, and I actually wrote a calm about this for the time. So if you're looking for just. Will Ron Lieber and two thousand fourteen Chevy Malibu. You'll discover that there are plenty of boxy or an American vehicles that will do the trick. I love that. It's not made me particularly popular with my older kids, but that's been our policy as well. When they've asked us when do a phone, I'm like, well, when you start driving and you have a need for a phone, then you can have a phone. We've said the same thing. If it's still available, we'd much rather get them in non non data phone like an old school phone just because first of all, they can text and drive is easily. And also there's no social media on it. There's no distractions other than they can call us and they can text us, and it certainly hasn't made us the most popular. But I somehow managed to survive that when I was a teenager and it taught me quite event, and I hope that the same will be true for my kids. And one thing we've done and are doing with our kids that probably is unique. I would guess is before they can drive before we'll sign off on them getting a permit or license. They have to have a profitable business for a year, and it could just be a pet sitting. Business. It could be something small, but that way it's twofold. First of all, they're going to have a car. They have to buy a car so they need the money. So they need to create a business to get to create the value to get the money to get the car. But also it is going to be a lesson in responsibility because there's when you set a time period of a year. That's a lot of follow through. That's a lot of planning and consistency, and a lot of the skills we wanna see in them before they're driving a thousand to two thousand pound vehicle around the road. So that's been kind of our approach. I don't know if that came up at all on your research, but that's kind of how we figured out that we're gonna tackle that with our kids..

texting while driving Ron Lieber Dan Acura WI two thousand pound Eight years
"ron lieber" Discussed on The Healthy Moms Podcast

The Healthy Moms Podcast

03:54 min | 2 years ago

"ron lieber" Discussed on The Healthy Moms Podcast

"Data plan and they're often running for maybe fifty or hundred bucks for the phone. And you know, fifteen or twenty bucks a month and at least some reasonable price. Now, if they want something more later on, that's fine. But you know the money for the date of land oughta come out of their allowance in oughta, carefully, calibrated, free, pay plan. Dan, so that they are need to watch very carefully what they have spread out over the course of the month and make sure to, you know himself to free WI fi wherever they can get it. And so you know, it becomes an exercise in budgeting for that for watching and waiting and planning and being careful and making trade offs right getting. You talked about how we're all trying to raise it alz here. It's totally true, right? We are in the adult making business as parents end one of the most important things for adults to do. But something I think we all struggle with. I know I do is continuing to have these ongoing lifelong conversations with ourselves about win something want in when something is actually eat and how to make sure that whatever money we have for our wants or spending on the things that have the most half. So healing kids as much wraps with that is possible is idea. And you know same thing's true with the car, right in recent. Eight years. All sorts of parents who were lucky enough to have more than average had themselves into this idea that because the safety equipment on cars, his gone, the whole lot better relatively quickly over the last half decade that kids just absolutely have to have the best safety equipment often be as parents are worried that they're texting while driving. So they're all sorts of ways to keep his texting while driving. But you know, if you're insistent on your kids, having you know the safety equipment that shops your power back into the center lane. If they meander hits the brakes automatically. If there's object in the road, you do not need a two thousand nineteen Acura to to get back women. There are plenty of used cars that are to revere for years old. Have that do not spend the figure out of money early, and I actually wrote a calm about this for the time. So if you're looking for just. Will Ron Lieber and two thousand fourteen Chevy Malibu. You'll discover that there are plenty of boxy or an American vehicles that will do the trick. I love that. It's not made me particularly popular with my older kids, but that's been our policy as well. When they've asked us when do a phone, I'm like, well, when you start driving and you have a need for a phone, then you can have a phone. We've said the same thing. If it's still available, we'd much rather get them in non non data phone like an old school phone just because first of all, they can text and drive is easily. And also there's no social media on it. There's no distractions other than they can call us and they can text us, and it certainly hasn't made us the most popular. But I somehow managed to survive that when I was a teenager and it taught me quite event, and I hope that the same will be true for my kids. And one thing we've done and are doing with our kids that probably is unique. I would guess is before they can drive before we'll sign off on them getting a permit or license. They have to have a profitable business for a year, and it could just be a pet sitting. Business. It could be something small, but that way it's twofold. First of all, they're going to have a car. They have to buy a car so they need the money. So they need to create a business to get to create the value to get the money to get the car. But also it is going to be a lesson in responsibility because there's when you set a time period of a year. That's a lot of follow through. That's a lot of planning and consistency, and a lot of the skills we wanna see in them before they're driving a thousand to two thousand pound vehicle around the road. So that's been kind of our approach. I don't know if that came up at all on your research, but that's kind of how we figured out that we're gonna tackle that with our kids..

texting while driving Ron Lieber Dan Acura WI two thousand pound Eight years
"ron lieber" Discussed on The Healthy Moms Podcast

The Healthy Moms Podcast

02:28 min | 2 years ago

"ron lieber" Discussed on The Healthy Moms Podcast

"Your money columnist for the New York Times since two thousand eight before that he wrote the green thumb, personal finance column for the Wall Street Journal, and you may be thinking that's not my normal type of guests, and there's a really important reason I have him on today. His first book was taking time off, inspiring stories of students who enjoyed successful breaks from college and how you can plan your own. And it was a New York Times bestseller. But his most recent book is why I'm so excited to talk to him today and it's called the opposite of spoiled, and it's all about how and when and why to talk to your kids about money and what to say when you do and it was also a New York Times bestseller. So Ron, welcome. And thanks for being here much for having me. I can't wait to jump in because I feel like maybe second to the virgin, the beast conversation. Shen. This is probably one of the toughest topics that parents tried to talk to their kids about. I think there's a lot of fear probably misinformation surrounding. It's just a very tough topic to navigate and especially trying to figure out how much do we tell kids at what age and when and obviously you've done a ton of research on this. So what did you find start off about the importance in general of talking to children about money? Well, it's interesting that you make the sex talk comparison, which I think is an apt one. People have a sort of equal levels of comfort around it. The issue with sex talk though, is that there is actually a biological imperative to have these conversations. These sex conversations with kids starting around nine or ten or eleven, when their bodies really start to change in ways. They begin to notice her feel emotionally with the money talk though you can talk yourself into this idea that, well, you know, are we just protect our kids shield them from all of this money stuff. Just a little bit longer. You can keep talking yourself into that until they're sixteen or seventeen or eighteen. But the fact of matter is, is that they are thinking about money and wondering about money and Creevy money or spending an inappropriate ways in a starting at single digit ages, right? And so you may think you're protecting them from money or protecting them from a difficult decisions, difficult conversations around money. Let us not forget that in more cases than not these days families when kids are turned sixteen seventeen eighteen are making, maybe the biggest financial decisions that.

New York Times Ron Wall Street Journal Creevy