More new dorms

[Nidaros]

Re: More new dorms

89rabbit-Yes I realize that they can't spend more money on athletics, but my main thing is space. All I hear is there is not enough space, and the main reason behind not enough space is making students stay two years. I know SDSU is backing the studies and everything, but in reality money is the main factor in about everything we do anymore, and I'll quote some Machine Gun Kelly, "This country's flag is a joke, That should be painted green." Also there is 15mil+ staring them in the face so it is a win-win for SDSU. They can use the studies to back their claims and they get 15mil+ in the process. The bonds they are using are play money, since the students are paying for the dorms and it won't affect the university at all. I guess it wouldn't be that big of deal if there was more space on campus but there isn't, and there are always more motivating factors behind studies nowadays especially in colleges. And no, I didn't live in the dorms last year, I have always felt it was a dumb rule

The 15 million has to be paid back to the bond holders over a period of time, but they also have to pay the contractor for his construction work, which I would think is the purpose of the bond issue in the first place. True the students do pay for staying in the dorms, and that money is used to repay the debt(bonds). I don't see how they are using this money for play purposes. There might be some investment of the bond money during pre construction and construction periods. Generally, there are covents that require that the investment earnings be used to pay for the construction. I really dont see SDSU making any money here. Dont let them get you down Witness.

[goon]

Re: More new dorms

What I think witness might be wondering, and I am to an extent is.....If dorm are a money maker for a college, how much do they make? If they are a loss and schools lose money having dorms, how much do they lose? I would assume its a bit of a wash, money in equals money out, but if you have a dorm for 40 years, probably pays for it self and makes a few bucks in that time. If they are losing money, maybe a better bet would be to encourage private development around campus for close student housing that the students could live off campus but close which would allow the school to keep students close but not have to pay millions to build new dorms if they lose money on them in the long run. Just my 2 cents. Some dorms are needed to allow for over crowding, if that has been an issue since i was there over a decade ago its probably nessiscary to add more rooms. I would say 1 year is manditory in the dorms and 2 or 3 year are option if they want.

[Nidaros]

Re: More new dorms

What I think witness might be wondering, and I am to an extent is.....If dorm are a money maker for a college, how much do they make? If they are a loss and schools lose money having dorms, how much do they lose? I would assume its a bit of a wash, money in equals money out, but if you have a dorm for 40 years, probably pays for it self and makes a few bucks in that time. If they are losing money, maybe a better bet would be to encourage private development around campus for close student housing that the students could live off campus but close which would allow the school to keep students close but not have to pay millions to build new dorms if they lose money on them in the long run. Just my 2 cents. Some dorms are needed to allow for over crowding, if that has been an issue since i was there over a decade ago its probably nessiscary to add more rooms. I would say 1 year is manditory in the dorms and 2 or 3 year are option if they want.

Unless you get a super duper grant or donation, you have to use debt financing to build the dorms. Once the debt is retired, then there is only operational and maintence costs to deal with. I would be surprised if they did not know what the break even point is and how much to charge. In room costs or an apartment the charges have to be sufficient to cover the operational costs such as the uitilities and the debt service. All the new dorms would be charging enough to cover both I would think. As an institution I would be horrified to find out that some one in admin was overcharging for rooms and putting the profit in his pocket. Lets not even go there.

[Jacks#1Fan]

Re: More new dorms

Two minor points to add (and then I have seen enough to cross this thread off my list) for the sake of Witness. 1) Students pay rent (which they would pay off campus) to provide money to the bondholders who built the building (as do owners of off campus housing). 2) There is no "money to be made for SDSU by building the dorms...i.e. no profits...bonds are paid, upkeep and repairs and renovations come from whatever is left. 3) The buildings being constructed now (and the earlier Village Commons dorms...and to some extent later dorms such as Hansen Hall, are not dormitories like I and lots of other students years ago lived in. Students have asked for space more common to off campus housing, i.e. quad rooms with common areas, and other amenities, and those are now being built, so that students will want to live in them. 4) If students want and ask for such housing, SDSU believes the educational value of keeping those students on campus, is a goal to be attained. My take on it: great move by the administrators at SDSU.