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re: Rice University announces free tuition for middle income undergraduate students
Posted on 9/18/18 at 10:12 am to chinhoyang
Posted on 9/18/18 at 10:12 am to chinhoyang
quote:
Rice must have a hell of an endowment.
quote:
Performance highlights of the Rice endowment, which provide approximately 40% of the university's operating expenses. Rice Management Company is responsible for the stewardship of a $5.8 billion endowment fund and the University's $965 million debt.
Good for them....i would be proud for my kids to be a graduate of Rice University in all honesty
0
Posted on 9/18/18 at 10:14 am to Epic Cajun
quote:
think it's kinda fricked up that the students are evaluated based upon their parents' income
It’s a means to target people that don’t get the benefit of affirmative action, a section of society that rice has largely avoided
Posted on 9/18/18 at 10:21 am to LSUSkip
quote:
So rich dumbasses will be the only ones actually paying to go to Rice. And they will probably be paying big money. Big gamble by Rice. Could have a horrible effect on them in the future, or it could pay huge dividends.
Harvard and the rest of the Ivy leagues have been dong it this way for almost forever, if your family makes less than about $150K a year you pay almost nothing to attend Harvard, seems to have worked well there and the other ivys.
Posted on 9/18/18 at 10:21 am to slackster
Uh.....
Would you say that the value of a college degree was more valuable BEFORE the gov't started subsidizing student loans where everyone could afford to go or AFTER?
Here's a good read: LINK
Would you say that the value of a college degree was more valuable BEFORE the gov't started subsidizing student loans where everyone could afford to go or AFTER?
Here's a good read: LINK
quote:
Perhaps more damaging than the financial cost, however, has been the upcredentialing created by massive subsidies, forcing many Americans to earn degrees just to stay in one place in the job market. Subsidies have encouraged more people to go to college, enabling employers to demand degrees even for jobs that haven’t changed, forcing more people to go to college, and so on. Free college through even greater government intervention would almost certainly intensify this vicious cycle.
This might be tolerable if additional credentials carried commensurate increases in useful knowledge and skills. They do not.
Posted on 9/18/18 at 10:27 am to Aubie Spr96
quote:
Would you say that the value of a college degree was more valuable BEFORE the gov't started subsidizing student loans where everyone could afford to go or AFTER?
Rice has an undergraduate enrollment of 4000 and an acceptance rate of 16%. If they aren't changing enrollment standards, either by lowering admissions requirements or increasing the percentage of applicants accepted, the Rice degree is not devalued. Regardless of cost.
Posted on 9/18/18 at 10:27 am to Aubie Spr96
quote:
Economics bro. The value of anything drops if you start giving the shite away.
around 50- 60% of the students attending Harvard and the other ivy league schools pay nothing to attend, are you implying their degrees have no value?
Posted on 9/18/18 at 10:30 am to Aubie Spr96
quote:
Uh..... Would you say that the value of a college degree was more valuable BEFORE the gov't started subsidizing student loans where everyone could afford to go or AFTER? Here's a good read: LINK
When they are talking a about the value of a college degree, they are not referring to degrees from Harvard, Yale, Princeton, MIT, Caltech, Stanford, Rice, etc
Posted on 9/18/18 at 10:34 am to Epic Cajun
quote:
that occurs, can the student then claim that their parents made $0 so that they can qualify for the scholarship/loan? I'm seriously asking, I'm not exactly sure how that works.
For FAFSA purposes, it's difficult to be considered an "independent" student unless you're 24 or older, married, or emancipated. There are a couple other qualifications, but it's more difficult than your idea.
Posted on 9/18/18 at 10:35 am to Dire Wolf
Vandy has been doing this for awhile.
Competition for dollars, aimed at the families between $130k to $200k. Their kids will get partial scholarships. The families will GLADLY pay the remainder to have their kids graduate from a top school.
Bottom line, revenue will increase, a lot. I posted a year or two ago.
There is an article on this tactic, where a school offers more partial scholarships to increase the number of paying students.
Over simplification; Full tuition is $100k for this example:
School can give two kids $100k scholarship while 2 of the 10 applicants without any financial aid pay full price (family has money, other sources of income, etc.)
NET ZERO = Gave two away at $200k and two come in at full pay of $200k
Total of four new students.
OR
School can offer 10 partial scholarships (say $50k each), four accept. The two that would have come anyway still enroll.
Net = Paid $200k to get $200k for partials + gained $200k
Net = 200k
Total six new students.
Competition for dollars, aimed at the families between $130k to $200k. Their kids will get partial scholarships. The families will GLADLY pay the remainder to have their kids graduate from a top school.
Bottom line, revenue will increase, a lot. I posted a year or two ago.
There is an article on this tactic, where a school offers more partial scholarships to increase the number of paying students.
Over simplification; Full tuition is $100k for this example:
School can give two kids $100k scholarship while 2 of the 10 applicants without any financial aid pay full price (family has money, other sources of income, etc.)
NET ZERO = Gave two away at $200k and two come in at full pay of $200k
Total of four new students.
OR
School can offer 10 partial scholarships (say $50k each), four accept. The two that would have come anyway still enroll.
Net = Paid $200k to get $200k for partials + gained $200k
Net = 200k
Total six new students.
Posted on 9/18/18 at 10:37 am to Aubie Spr96
quote:
Would you say that the value of a college degree was more valuable BEFORE the gov't started subsidizing student loans where everyone could afford to go or AFTER?
Your argument makes zero sense in the context of Rice's announcement.
Federal government aid turned on the spigot and devalued college degrees since you can find a college anywhere in this country that will let you enroll. However, it did NOT devalue the degree of highly selective colleges. It's more difficult than ever to get into many top tier schools.
Posted on 9/18/18 at 10:41 am to Jake88
quote:
Again, it means what it says. It throws another variable into the equation when choosing a college and is a disincentive. Makes Rice a less enticing option if you're just over the limit by 10-30k. It devalues your 40k annually.
On the surface, I don't see how this would make Rice less of an option for families over the limit by any amount. Making $10k too much means you won't qualify for aid that didn't exist before it was announced today. It's not like they took something from higher income families.
Posted on 9/18/18 at 10:58 am to slackster
quote:
On the surface, I don't see how this would make Rice less of an option for families over the limit by any amount. Making $10k too much means you won't qualify for aid that didn't exist before it was announced today. It's not like they took something from higher income families.
There are college revenue consulting firms, two major ones.
The entire premise is to get more paying students.
Lower income applicants will get scholarships anyway.
High income/net-worth families can pay to go anywhere.
The middle to upper middle class applicant is the target. Offer sometype of partial scholarships to entice them to look away from the state schools and to pay something. This tier will is than likely to find the resources (liquidation of assets, borrow funds, etc.) to gain the advantages (real or made-up) of graduating from a top 50 institution.
The key is if the applicant can take advantage of the opportunity of going to a Rice (or Vandy, Harvard, etc.) with great grades and developing a social network to outweigh the additional cost (and it can still be costly) of paying for a school vs going to a state institution.
Keep in mind, the private schools are competing for students/dollars. Many public schools have TOP like programs (subsidized dollars from the state) and private schools are countering with their endowments and partial scholarships.
This is all a competition, not some benevolent gesture by ANY private school.
This post was edited on 9/18/18 at 10:59 am
Posted on 9/18/18 at 11:28 am to slackster
quote:
For FAFSA purposes, it's difficult to be considered an "independent" student unless you're 24 or older, married, or emancipated. There are a couple other qualifications, but it's more difficult than your idea.
So, his response that the parents can not claim the student as a dependent is irrelevant to this scenario. There is nothing that is obligating the parents to pay for the student's tuition, yet the student still can get the shaft due to the parents' income.
Posted on 9/18/18 at 11:41 am to Epic Cajun
quote:
So, his response that the parents can not claim the student as a dependent is irrelevant to this scenario. There is nothing that is obligating the parents to pay for the student's tuition, yet the student still can get the shaft due to the parents' income.
If you can prove your parents aren’t providing any support as you indicated, they’re income is ineligible and they can no longer claim you as a dependent.
I was making the point that it’s a load of crap for someone’s parents to not pay tuition or support their college student while still benefiting from their status as a full-time student by claiming the dependent deduction.
This post was edited on 9/18/18 at 11:42 am
Posted on 9/18/18 at 11:44 am to Steadyhands
quote:
So basically this is just good pr to make people think they care, but really it won't be any actual change. Well, they might get a few more smart kids.
It's even better than that. They'll have most of their alumni base with no student debt. And thus able to afford generous donations...
Posted on 9/18/18 at 11:52 am to Golfer
quote:
I was making the point that it’s a load of crap for someone’s parents to not pay tuition or support their college student while still benefiting from their status as a full-time student by claiming the dependent deduction.
Providing support is one thing, paying 40k per year in tuition is another. I'm not paying 40k in tuition for my kid if I'm only making 215k pre-tax.
Posted on 9/18/18 at 11:54 am to LSUSkip
If I make $125K I will have to turn down that raise.
Posted on 9/18/18 at 12:00 pm to slackster
quote:
The ignorance continues.
It's astounding how off-base folks are about this.
Posted on 9/18/18 at 12:00 pm to Epic Cajun
quote:
I'm only making 215k pre-tax.
Lol u poor.
Posted on 9/18/18 at 12:01 pm to Dire Wolf
Good on Rice. It's every society's responsibility to educate its populace. Only an educated society is a free society.
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