SMI Visitor's Blog       

Welcome to the SMI Visitor's Blog where you'll find selected excerpts from our Member's Blog, plus occasional posts created especially for our visitors.

For SMI Web Members, click here to go to the SMI Member Blog.

« Blog Home

Paying cash (literally) for college tuition

We've written before about the psychology of paying cash. Using actual dollars to pay for things — as opposed to using a credit card or even writing a check — somehow creates a stronger sense that you're spending your hard-earned money. (This is one reason why cutting back on credit card use and using cash for purchases tends to keep one's spending in check.)

Last week, college student Nic Ramos, a sophomore at the University of Colorado-Boulder, paid his entire bill for the spring semester — all $14,309.51 of it — in $1 bills, along with a 50-cent piece and a penny. (The money came from various sources, not solely from his own savings.)

The Wall Street Journal has the video story:

I found one of Nic's comments in the video particularly interesting:

When you walk in with a 33-pound duffel bag of cash...it puts a lot into perspective. It made me really appreciate that people are willing to give up that money for me to go to school.

Indeed. Incidentally, the price of tuition at UC-Boulder went up 5 percent for this school year, according to CBS. Another hike, perhaps close to 9 percent, is expected for next year.

Oh, here's a related story — "Report: College students not learning much."

All of this is making a lot of folks wonder: Is a college education still worth the investment?

Powered by Movable Type  |   Subscribe  |   Email Updates