I'd like to see a retroactive rebate program for tuition paid for transferable community college credits that went towards a bachelors degree at a 4 year university. Make community college free for those who use it successfully to get a 4 year degree.
Why I’m Giving $1.8B for College Financial Aid
61–70 of 164 posts
Re: Why I’m Giving $1.8B for College Financial Aid
#62I'll answer it for him:
"So that I can get support (or at least not outright hostility) from the left wing of the democratic party when I'm running for president in 2020, who otherwise would be very unhappy with a billionaire as the candidate"
Re: Why I’m Giving $1.8B for College Financial Aid
#63I realize I'm likely going to be a dissenting opinion here… but I'm not sure this is a good investment.
Unless you're going to enter a field that requires the pedigree that starts with college (i.e. medicine, law, engineering), it's arguable that college isn't even worth the tuition you pay for it. Like another commenter says, they have no incentive to do anything that will reduce costs.
The quality of the education seems to be on the decline too.
It feels like colleges are turning into breeding grounds for social justice warriors more than they're turning out folks who are prepared to enter the workforce.
It feels like the onus should be on the colleges to make costs more reasonable, rather than getting another handout from a rich benefactor (which will not last long).
Re: Why I’m Giving $1.8B for College Financial Aid
#64Earlier quoted context omitted.
> "A 2015 study[0] shows that the real culprit could be as simple as less state support per research institution" But that's still a "because they can" reason.
Or have to. They built up with a certain amount of support from the government in mind, then the government dropped the ball. The schools then increase because they have too. But that doesn't explain the rising costs of private colleges. At the same time, as the father of a high school senior, you quickly find very few kids pay the sticker price.
Yes it does. Demand.
Increase demand via cheap / easy student loans, as well as social "norms" and the cost of limited supply will increase.
The gov's role in edu prices and student debt is not different tthan the housing bubble. Same scam. Different market.
Re: Why I’m Giving $1.8B for College Financial Aid
#65People are suffering from taking too many pay day loans.
I think I will donate 2 billion dollars to my local pay day lender.
There, problem solved.
Now people dont need to be worried about paying it back.
I am sure they wont use this guaranteed income to jack up the rates more.
Re: Why I’m Giving $1.8B for College Financial Aid
#66I realize I'm likely going to be a dissenting opinion here… but I'm not sure this is a good investment. Unless you're going to enter a field that requires the pedigree that starts with college (i.e. medicine, law, engineering), it's arguable that college isn't even worth the tuition you pay for it. Like another commenter says, they have no incentive to do anything that will reduce costs. The quality of the education…
That may be true (but is arguable) if you see college as nothing but a vocational school, training you to be the best worker which society could ask for.
A truly liberal (in the John Stuart Mill / Enlightenment sense of the word) education gives you the tools you need to engage with the world. How can you ever change society if you are only able to see the world in what makes money, and are never given the time and resources to think beyond what is today towards what could be?
It is true that some people can learn some of these things on their own, but having 4 years to think surrounded by an environment where everyone else is focused on that same goal can really make a difference.
If a pragmatic man like Bloomberg believes in the value of a liberal education (again the old sense of the word), you can bet it's not total hooey.
(although see my other comment for what I believe is behind at least the timing of this announcement)
Re: Why I’m Giving $1.8B for College Financial Aid
#67I realize I'm likely going to be a dissenting opinion here… but I'm not sure this is a good investment. Unless you're going to enter a field that requires the pedigree that starts with college (i.e. medicine, law, engineering), it's arguable that college isn't even worth the tuition you pay for it. Like another commenter says, they have no incentive to do anything that will reduce costs. The quality of the education…
re: quality declining
Source? I don't see this at all.
re: sjws This is just a vocal minority demonized by certain political groups to stir up anger. Sad to see it's convincing people.
Re: Why I’m Giving $1.8B for College Financial Aid
#68Earlier quoted context omitted.
It is just insane that 1.8B should be spent on just Johns Hopkins. This doesn't sound like anywhere near the most efficient way to help the most students who are missing out on places because the institution looks at their ability to pay. Does Bloomberg have an alterior motive to limit his donations to just his Alma Mater? Does he just want a wing of the library named after him or something? I'm frustrated reading th…
I disagree. Good behavior starts at the top. When all the best universities go need-blind and start offering only need-based scholarships, the bad actors in the education system will be left out on their own and we can start dealing with them separately.
The money will go to a school which likely could not possibly go bankrupt based on their current endowment. It could be much better spent across hundreds of state schools who do not have the same liberty or vaults.
Re: Why I’m Giving $1.8B for College Financial Aid
#69Actual Reason: Bloomberg is planning to announce his presidential candidacy soon.
Agreed.
Bloomberg rejoined the democratic party this year.
https://www.theguardian.com/us-news/2018/oct/10/michael-bloo...
He also expressed his interest in running for president in 2020.
This is obviously a PR move to win favor amongst the college age people and to gauge his prospects. I'm sure his team is going to poll people, especially students to see how this PR stunt goes and if the numbers look good, he'll declare in a couple of months.
It's no secret that the extremely wealthy tend to have sociopathic tendencies. They don't do anything for charity or out of the goodness of their heart. They always have ulterior and selfish reasons.
Re: Why I’m Giving $1.8B for College Financial Aid
#70Earlier quoted context omitted.
>Our program requires no contribution from Harvard families with annual incomes below $65,000. About 20% of our families have no parent contribution. Families with incomes between $65,000 and $150,000 will contribute from 0-10% of their income, and those with incomes above $150,000 will be asked to pay proportionately more than 10%, based on their individual circumstances. Families at all income levels who have signi…
I don't see that as making this a very fair system. Many of my colleagues had parents refuse to pay a dime. I know they were hurt by it and some actually had to wait until they were of age to be an independent.
Private schools cost money. Somebody has to pay and it isn't the state. If your parents don't want to pay for a private education, then take it up with them. It's fair from Harvard's perspective and the perspective of the general population.