Brown University raising $120M to eliminate all student loans
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Re: Brown University raising $120M to eliminate all student loans
#2Not that loan-free educations are bad, but why is Brown raising $120M from alumni and the like, rather than lowering their tuition by $120M?
The student loan crisis is only a crisis because Universities (lead by the Ivy League and similarly elite private colleges) are charging exorbitant prices for tuition, room, and board.
This isn't charity or benevolent. This is just bilking a different class of people.
Efforts to reduce the cost of tuition, rather than shift the cost burden to different people, are the real humanitarian work here.
Here's a story from 2013 on Texas's efforts to create $10,000 Bachelor's degrees. https://www.texastribune.org/2013/01/30/guide-getting-one-te...
Re: Brown University raising $120M to eliminate all student loans
#3This applies to undergrads, so I'm assuming they are already in debt from student loans. What's another 10-15 grand? Doesn't seem like they are really helping anyone here.
Re: Brown University raising $120M to eliminate all student loans
#4Not that loan-free educations are bad, but why is Brown raising $120M from alumni and the like, rather than lowering their tuition by $120M? The student loan crisis is only a crisis because Universities (lead by the Ivy League and similarly elite private colleges) are charging exorbitant prices for tuition, room, and board. This isn't charity or benevolent. This is just bilking a different class of people. Efforts to…
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Re: Brown University raising $120M to eliminate all student loans
#5Related, Brown's current endowment is appx $3B.
Re: Brown University raising $120M to eliminate all student loans
#6Not that loan-free educations are bad, but why is Brown raising $120M from alumni and the like, rather than lowering their tuition by $120M? The student loan crisis is only a crisis because Universities (lead by the Ivy League and similarly elite private colleges) are charging exorbitant prices for tuition, room, and board. This isn't charity or benevolent. This is just bilking a different class of people. Efforts to…
You still have to pay market rate for professors, executives, maintenance, etc, if you want to stay relevant.
You can't just decide to reduce your income and expect nothing else to change. They're changing where their getting the income from, probably with the idea that former students of Brown who are now doing very well, will be willing to pay it forward to a new student who is in a similar position as they used to be.
Re: Brown University raising $120M to eliminate all student loans
#7Not that loan-free educations are bad, but why is Brown raising $120M from alumni and the like, rather than lowering their tuition by $120M? The student loan crisis is only a crisis because Universities (lead by the Ivy League and similarly elite private colleges) are charging exorbitant prices for tuition, room, and board. This isn't charity or benevolent. This is just bilking a different class of people. Efforts to…
The actual problem is people getting into debt without reasonable expectation of paying it, just wishful thinking.
Re: Brown University raising $120M to eliminate all student loans
#8What happens when the 120M runs out?
Are they putting the alumni permanently on the hook to pay for future incoming students who need financial assistance?
The article doesn't address this issue.
Re: Brown University raising $120M to eliminate all student loans
#9Not that loan-free educations are bad, but why is Brown raising $120M from alumni and the like, rather than lowering their tuition by $120M? The student loan crisis is only a crisis because Universities (lead by the Ivy League and similarly elite private colleges) are charging exorbitant prices for tuition, room, and board. This isn't charity or benevolent. This is just bilking a different class of people. Efforts to…
If your pulling in ~10,000$ per person in tuition, and the average person takes 5 classes with a class size of 30 that's. 60,000$ per professor per year if they teach 4 classes, 75,000$ per professor if they teach 5 and 90k & 6 classes before expenses per class. So, the only way for that to work out is some other subsidies.
However, lectures allow you to use TA's to more cheaply expand class sizes and might make it possible at the undergrad level.
Re: Brown University raising $120M to eliminate all student loans
#10What happens when the 120M runs out? Are they putting the alumni permanently on the hook to pay for future incoming students who need financial assistance? The article doesn't address this issue.
I think the purpose of the 120M is to create an endowment from which ~5% can be taken to provide financial aid every year. If their investments perform as hoped, it should last quite some time.