Hear! Hear!
Let’s hope other billionaires follow his lead.
I think this is great! I wonder how many here will think it sucks just because it’s Bloomberg.
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doesn’t really matter. if it helps students that’s all that matters.
I’ve seen many posts over the years suggesting that charity should take the place of government. So there should be many here who applaud this.
Me? I like it. I would hope that going forward this type of thing will allow kids with deserving histories to actually get to go to college. The burden of student loans has been growing out of control and I’d like to see the next generation be able to have access to education that won’t bankrupt them for the rest of their lives.
I couldn’t agree more. As long as it’s voluntary. Good on Bloomberg for doing it.
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I like the move. College tuition has outpaced inflation by orders of magnitude. It’s a racket. The more loans that are offered, the more the schools charge.
Hell, textbooks for electives cost upwards of $300. For a few months use. ■■■■■■■ scam.
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At the University of Michigan, tuition is paid for if your in-state family makes under $65,000.
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I like the move. The only issue I take is that it was given to the institution and not the individual, but it’s not my money, so I still applaud his generosity.
Good for him, maybe others will follow suit.
Thank goodness Centgov took over the loans.
Thank goodness Bill Clinton and the Republican Congress in outlawed bankruptcy of student loans. It really started all this crap.
College is a right. What choice did they have?
Thread going about the way it was expected to?
My BIL’s girlfriend works for a printing company. One of the things they do is college text books. The cost in materials and labor to print up even the thickest, hardback text book is less than $5.00.
I also applaud him on this issue. I do wish he would have given some of the money to help other institutions as well, not just John Hopkins. I could be wrong, but it seems to me if some one is qualified to go to Johns Hopkins, the money wont keep them out.
I also applaud Bill Gates for helping the Kahn Academy. What I like about the Kahn Academy is that it helps all. All one needs is an internet connection.
When does this happen though?
PS: Good on Bloomberg!
Kudos to Mr. Bloomberg!
I help kids from low income families get accepted to top colleges and universities that give fantastic institutional grant aid. Unfortunately, only the very top schools, which have extremely large endowments schools, can afford to give students that type of FA
Most kids and their parents have never even heard of most of these schools and if they have they don’t realize that these schools are indeed affordable - if they get accepted.
But, of course, only the best and brightest will be accepted. These schools have between 5% and 15% acceptance rates.
Many schools do give merit aid to attract better students, which gin up their rankings. Many full pay parents look to those schools to reduce their costs. But again, you need top stats to qualify for merit aid. And merit aid usually does not cover R&B, just tuition. Institutional aid, OTOH, for low income students can be as high as the total COA.
The top schools are getting better at outreach and there are programs like Bloomberg created and Questbridge which helps low income students apply to the top schools.
Unfortunately, the majority of kids in the US have little choice but to take out student loans (and their parents, Parent Plus loans,) to pay for college.
And so many never graduate but are still saddled with loans to repay and no degree,
Yeah, otherwise ■■■■ those kids who could benefit society as a whole. If their parents are too poor then ■■■■ them.
I would rather my money went to kids like that then supporting kids with guns. But I’m sure you have no problem with that at all.
lol
10 char
Your post pulled it together.
The title of your thread does not really correspond to the main theme of your post? The title of your thread implies that someone who is poor is essentially in a hopeless state regarding college due to economics. That is simple not the case. Also it is my understanding that someone from a poor family has a number means of getting their tuition covered. Also don’t they have the same ability to take out student loans as say someone from the middle class?
The biggest problem with higher education is that the costs are completely out of control.
