Why the hell is parental wealth taken into account for student aid?

[scaredyclassic]

1. They’re 18.
2. The education is to benefit them, not the parents
3. Why in the hell are parents income taken into account?!

Who’s with me? No to the fafsa!!!

[Coronita]

Because there are people who struggle and have a minimum wage job at best, and their kids deserve a chance to get out of the shithole, especially if their academic credentials are good.

And if it wasn’t considered, people like me would make my kid apply for financial aid while I spend my money on a McLaren. Of course there are a lot of Americans that do just that, where they would bleed there live savings to death to buy bling and then complain about how their kid needs to take out a student loan….And I’m sure if you really wanted to, you could also take that approach…

But I guess for some of us, that goes against the grain of reason and responsibility….Yes, folks like this are suckers.. Oh well.

[Coronita]

.

[scaredyclassic]

[quote=flu]Because there are people who struggle and have a minimum wage job at best, and their kids deserve a chance to get out of the shithole, especially if their academic credentials are good.

And if it wasn’t considered, people like me would make my kid apply for financial aid while I spend my money on a McLaren. Of course there are a lot of Americans that do just that, where they would bleed there live savings to death to buy bling and then complain about how their kid needs to take out a student loan….And I’m sure if you really wanted to, you could also take that approach…

But I guess for some of us, that goes against the grain of reason and responsibility….Yes, folks like this are suckers.. Oh well.[/quote]

Why is the price absurdly high?

Student loans.

Why do parents feel morally compelled to over pay?

Fear

[svelte]

We went through this also.

I wasn’t happy either.

But I can see the other side of the fence, as flu points out.

Never did resolve my position on this subject. It is what it is I guess.

[scaredyclassic]

Is it what it is? Or is it some bizarre economic aberration that society will soon look back on as absurd?

I guess I voted No, by saying no to any private school for my 3 kids. But I was lucky enough for 2 of them to get into cal state and afford it for cash, and the 3rd is looking good too. I dont feel personally scammed, other than all the woes I had with my own student loans.

But people I know are betting huge sum s on their kids futures paying sucker tuition fees like drunken tourists in vegas. Probably a dumber bet, too. Debt, draining bank accounts, foolishness! A GIANT SCAM.

What if one year every parent in america said NO. No mas!!!.

No loans.

No fafsa.

No help.

No money to colleges other than cash payments in 2020.

Bring the system to its knees.

The revolution will not be amortized.

[svelte]

[quote=scaredyclassic]Is it what it is? Or is it some bizarre economic aberration that society will soon look back on as absurd?

I guess I voted No, by saying no to any private school for my 3 kids. But I was lucky enough for 2 of them to get into cal state and afford it for cash, and the 3rd is looking good too. I dont feel personally scammed, other than all the woes I had with my own student loans.
[/quote]

I do get frustrated seeing folks pay a ton for a history, english, or art degree. Absurd. But it’s their money. This is where the Republican in me (not that I have a lot) comes out. Buyer beware. If you’re stupid, you’re bound to spend your money unwisely one way or another. Colleges seem a better receptacle of stupid money than other places.

Another time I was unhappy was when I considered going back for a second degree, and found out UC and State would charge MORE for a second degree! Theory being I guess that the state was chipping in for the first one, but I’d have to pay full rate for the second. I felt this was absurd and I was already paying a LOT for my first degree!

I also remember that my university implemented quite a surcharge on tuition my senior year to pay for building a new Student Union…that wouldn’t open until after my senior year. I was extremely unhappy about that. Seniors should have received a pass on that surcharge!

This thread is reopening old wounds…

[scaredyclassic]

My mom thinks I’m being a dick, because she paid full freight at an ivy league school for me. I admit, the optics are not great.

She doesnt see me as on the moral high ground ranting against the system.

[scaredyclassic]

[quote=flu]Because there are people who struggle and have a minimum wage job at best, and their kids deserve a chance to get out of the shithole, especially if their academic credentials are good.

And if it wasn’t considered, people like me would make my kid apply for financial aid while I spend my money on a McLaren. Of course there are a lot of Americans that do just that, where they would bleed there live savings to death to buy bling and then complain about how their kid needs to take out a student loan….And I’m sure if you really wanted to, you could also take that approach…

But I guess for some of us, that goes against the grain of reason and responsibility….Yes, folks like this are suckers.. Oh well.[/quote]

If parental income and money was by law not considered, kids would pay for their own education.

Which would lower the price.

And actually seems like a fair set up, notwithstanding the fact that I didnt pay for mine.

[scaredyclassic]

[quote=svelte][quote=scaredyclassic]Is it what it is? Or is it some bizarre economic aberration that society will soon look back on as absurd?

I guess I voted No, by saying no to any private school for my 3 kids. But I was lucky enough for 2 of them to get into cal state and afford it for cash, and the 3rd is looking good too. I dont feel personally scammed, other than all the woes I had with my own student loans.
[/quote]

I do get frustrated seeing folks pay a ton for a history, english, or art degree. Absurd. But it’s their money. This is where the Republican in me (not that I have a lot) comes out. Buyer beware. If you’re stupid, you’re bound to spend your money unwisely one way or another. Colleges seem a better receptacle of stupid money than other places.

Another time I was unhappy was when I considered going back for a second degree, and found out UC and State would charge MORE for a second degree! Theory being I guess that the state was chipping in for the first one, but I’d have to pay full rate for the second. I felt this was absurd and I was already paying a LOT for my first degree!

I also remember that my university implemented quite a surcharge on tuition my senior year to pay for building a new Student Union…that wouldn’t open until after my senior year. I was extremely unhappy about that. Seniors should have received a pass on that surcharge!

This thread is reopening old wounds…[/quote]

Make tuition require the same disclosures as security prospectuses.

[Coronita]

You know, not every kid who is from a poor family gets a full ride to a good school. Many kids aren’t your straight A student and just because a kid has a less than a straight A doesntean they don’t deserve to have a shot at a good future. The issue is that what do you do with the kids that are from poor families with not the best grades? They get double dinged.

There are some kids I know from families with no money and are less than stellar grades from high school.. Now, they have even financia troubles entering a JC. They won’t be able to finish college until they saved up enough money from waiting tables.

As much as I want to complain about the high cost of college tuition. I am thankfully kid doesn’t have to go though this.

I did draw the line for her though. Even if she gets into an Ivy League school/Stanford/MIT….Unless she gets a full ride, I am not going to pay $400,000+ for a bachelors of arts or science(which is how much it’s going to cost if you extrpolate that average 4% annual increase tuition/room/board ) I’d rather take 1/3 of that amount and let her have the money so she can use it as a downpayment for her own house or start her own business. Besides, most of those universities penalize Asian kids with quota limits, and I would probably be one of the parents paying full tuition to subsidize someone else’s tuition and room and board who got in under a completely different criteria. So, I am voting with my dollars against those schools….even if I went to one of those schools.

And if my kid decides to major in some ubemployable major like Shakespearian History or Conversational Linguistics with job prospects of something requiring you to say “You want fries with that?” or “Grande or Vente?” So long 4 year college. Hello Junior College.

[FlyerInHi]

Maybe children’s wealth should be taken into account for seniors on welfare.

[Myriad]

[quote=scaredyclassic]
Make tuition require the same disclosures as security prospectuses.[/quote]

Sounds great, but I’m assuming 99% of the people wouldn’t read them, just like prospectuses for investments. LOL

[Coronita]

.

[scaredyclassic]

[quote=Myriad][quote=scaredyclassic]
Make tuition require the same disclosures as security prospectuses.[/quote]

Sounds great, but I’m assuming 99% of the people wouldn’t read them, just like prospectuses for investments. LOL[/quote]

it’s not necessary for all investors to read the prospectus, since information disclosed is incorporated into the price…. if you belie ve in an efficient market, and i think we all do, as that is our collective religion, then having the information mandated publicly available means it will be incorproated into all of our decisionmaking through the power of markets.

disclose endowments, salaries, all expenses…disclose all admissions standards.

disclose employment outcomes.

disclose financing ramifications and all borrowers repayment status, including late payments.

disclose disclose disclose.

i have a feeling demand would go down…

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