Belmont Club

[Doc]

The implication is that the universities with large endowments are the ones that have exacerbated aggregate student loan debt the most, and I highly doubt that's true.

The local community colleges are so expensive it requires students to take on $50k to $100k in debt to pay tuition?

WVU, a public land grant university, (relatively cheap)for example has well over a billion dollar trust fund. In fact in one fund raising campaign alone they raised over a billion dollars. Tuition there has gone up over 1000% in the last forty years. Which far exceeds the inflation rate.

[SteveFoerster]

The implication is that the universities with large endowments are the ones that have exacerbated aggregate student loan debt the most, and I highly doubt that's true.

The local community colleges are so expensive it requires students to take on $50k to $100k in debt to pay tuition?

WVU, a public land grant university, (relatively cheap)for example has well over a billion dollar trust fund. In fact in one fund raising campaign alone they raised over a billion dollars. Tuition there has gone up over 1000% in the last forty years. Which far exceeds the inflation rate.

Yes, Title IV funding has pushed up tuition rates far beyond inflation at most institutions, public, non-profit, and for-profit. But there are a lot of for-profit schools that have no endowment, by definition, yet have charged as much as students could borrow, knowing that by telling unsophisticated prospective students that it's an investment in their future, they'll sign almost anything. (I'm not saying every for-profit school is like that, but there are some big ones that have been.)

[Doc]

The implication is that the universities with large endowments are the ones that have exacerbated aggregate student loan debt the most, and I highly doubt that's true.

The local community colleges are so expensive it requires students to take on $50k to $100k in debt to pay tuition?

WVU, a public land grant university, (relatively cheap)for example has well over a billion dollar trust fund. In fact in one fund raising campaign alone they raised over a billion dollars. Tuition there has gone up over 1000% in the last forty years. Which far exceeds the inflation rate.

Yes, Title IV funding has pushed up tuition rates far beyond inflation at most institutions, public, non-profit, and for-profit. But there are a lot of for-profit schools that have no endowment, by definition, yet have charged as much as students could borrow, knowing that by telling unsophisticated prospective students that it's an investment in their future, they'll sign almost anything. (I'm not saying every for-profit school is like that, but there are some big ones that have been.)

Last time I checked it costs $40k per year to attend Harvard.

[SteveFoerster]

The implication is that the universities with large endowments are the ones that have exacerbated aggregate student loan debt the most, and I highly doubt that's true.

The local community colleges are so expensive it requires students to take on $50k to $100k in debt to pay tuition?

WVU, a public land grant university, (relatively cheap)for example has well over a billion dollar trust fund. In fact in one fund raising campaign alone they raised over a billion dollars. Tuition there has gone up over 1000% in the last forty years. Which far exceeds the inflation rate.

Yes, Title IV funding has pushed up tuition rates far beyond inflation at most institutions, public, non-profit, and for-profit. But there are a lot of for-profit schools that have no endowment, by definition, yet have charged as much as students could borrow, knowing that by telling unsophisticated prospective students that it's an investment in their future, they'll sign almost anything. (I'm not saying every for-profit school is like that, but there are some big ones that have been.)

Last time I checked it costs $40k per year to attend Harvard.

From Harvard's site: "We are pleased to announce that beginning in the 2022-23 academic year, families with annual incomes of up to $75,000 (up from $65,000) will be expected to contribute nothing to the cost of their child's education."

Seriously, they're not the problem here.

[Doc]

The implication is that the universities with large endowments are the ones that have exacerbated aggregate student loan debt the most, and I highly doubt that's true.

The local community colleges are so expensive it requires students to take on $50k to $100k in debt to pay tuition?

WVU, a public land grant university, (relatively cheap)for example has well over a billion dollar trust fund. In fact in one fund raising campaign alone they raised over a billion dollars. Tuition there has gone up over 1000% in the last forty years. Which far exceeds the inflation rate.

Yes, Title IV funding has pushed up tuition rates far beyond inflation at most institutions, public, non-profit, and for-profit. But there are a lot of for-profit schools that have no endowment, by definition, yet have charged as much as students could borrow, knowing that by telling unsophisticated prospective students that it's an investment in their future, they'll sign almost anything. (I'm not saying every for-profit school is like that, but there are some big ones that have been.)

Last time I checked it costs $40k per year to attend Harvard.

From Harvard's site: "We are pleased to announce that beginning in the 2022-23 academic year, families with annual incomes of up to $75,000 (up from $65,000) will be expected to contribute nothing to the cost of their child's education."

Seriously, they're not the problem here.

They give preferential pricing to those they want to accept. IE check off the right boxes.

[SteveFoerster]

The implication is that the universities with large endowments are the ones that have exacerbated aggregate student loan debt the most, and I highly doubt that's true.

The local community colleges are so expensive it requires students to take on $50k to $100k in debt to pay tuition?

WVU, a public land grant university, (relatively cheap)for example has well over a billion dollar trust fund. In fact in one fund raising campaign alone they raised over a billion dollars. Tuition there has gone up over 1000% in the last forty years. Which far exceeds the inflation rate.

Yes, Title IV funding has pushed up tuition rates far beyond inflation at most institutions, public, non-profit, and for-profit. But there are a lot of for-profit schools that have no endowment, by definition, yet have charged as much as students could borrow, knowing that by telling unsophisticated prospective students that it's an investment in their future, they'll sign almost anything. (I'm not saying every for-profit school is like that, but there are some big ones that have been.)

Last time I checked it costs $40k per year to attend Harvard.

From Harvard's site: "We are pleased to announce that beginning in the 2022-23 academic year, families with annual incomes of up to $75,000 (up from $65,000) will be expected to contribute nothing to the cost of their child's education."

Seriously, they're not the problem here.

They give preferential pricing to those they want to accept. IE check off the right boxes.

Do you think schools like Liberty University and Regent University don't do that as well? The difference is that at Harvard and quite a few other elite schools with large enough endowments, they have a policy of waiving tuition for all students from middle class and working class backgrounds.

[lzzrdgrrl]

Let's try this one.......

The tendency for genius and subjective virtue to go to extremes has resurfaced again in the form of a plan by crypto billionaires to create a fortress island against the apocalypse populated with genetically enhanced beings. “Sam Bankman-Fried’s younger brother, who was a top lobbyist for failed crypto exchange FTX, considered purchasing the island nation of Nauru in the Pacific to create a fortified apocalypse bunker state … to protect his philanthropic allies and create a genetically enhanced human species, according to the suit filed Thursday by attorneys from Sullivan & Cromwell, which is seeking to recover billions of dollars following the collapse of FTX.”

https://pjmedia.com/richardfernandez/20 ... d-n1713265

It's tempting to call this out as current-age woke garbage, but we had this rift between the elite and the ordinary people for a long time. Notable examples being Henry Ford and Alexander Graham Bell......

[neverfail]

Let's try this one.......
It's tempting to call this out as current-age woke garbage, but we had this rift between the elite and the ordinary people for a long time. Notable examples being Henry Ford and Alexander Graham Bell......

Both of these men were in their day outstanding high-acheivers. Is it really fair to tag either of them "elitist" - the term employed with derogatory connetations?

[lzzrdgrrl]

I think Richard's point is that the division has always been there, but now that the social order seems to be coming apart. the separation is more than merely a class distinction.......

[SteveFoerster]

Let's try this one.......
It's tempting to call this out as current-age woke garbage, but we had this rift between the elite and the ordinary people for a long time. Notable examples being Henry Ford and Alexander Graham Bell......

Both of these men were in their day outstanding high-acheivers. Is it really fair to tag either of them "elitist" - the term employed with derogatory connetations?

Henry Ford was an anti-Semite and a Nazi sympathiser. He deserves all the reproach he can get.