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marmar

(77,091 posts)
Wed May 8, 2013, 12:46 PM May 2013

Colleges Soak Poor U.S. Students While Funneling Aid to Rich


(Bloomberg) U.S. colleges such as Boston University are using financial aid to lure rich students while shortchanging the poor, forcing those most in need to take on heavy debt, a report found.

Almost two-thirds of private institutions require students from families making $30,000 or less annually to pay more than $15,000 a year, according to the report released today by the Washington-based New America Foundation.

The research analyzing U.S. Education Department data for the 2010-2011 school year undercuts the claims of many wealthy colleges that financial-aid practices make their institutions affordable, said Stephen Burd, the report’s author. He singled out schools -- including Boston University and George Washington University -- that appear especially pricey for poor families.

“Colleges are always saying how committed they are to admitting low-income students -- that they are all about equality,” Burd said in a phone interview. “This data shows there’s been a dramatic shift. The pursuit of prestige and revenue has led them to focus more on high-income students.” ....................(more)

The complete piece is at: http://www.bloomberg.com/news/2013-05-08/colleges-soak-poor-u-s-students-while-funneling-aid-to-rich.html



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Colleges Soak Poor U.S. Students While Funneling Aid to Rich (Original Post) marmar May 2013 OP
It is a working model Newest Reality May 2013 #1
It's amazing to me how much things have changed in my lifetime. Arugula Latte May 2013 #2
Du rec. Nt xchrom May 2013 #3
More evidence that America and America's culture is morally/ethically bankrupt AZ Progressive May 2013 #4
Ah the irony. America, the "Christian nation," hates the poor. nt SunSeeker May 2013 #5

Newest Reality

(12,712 posts)
1. It is a working model
Wed May 8, 2013, 12:51 PM
May 2013

across-the-board.

Why mess with what works? Equality is inimical to the amassing of great wealth and the corresponding power that goes with it. Dynasty building is a right, not a privilege.

Right now that small percentage of us that are mega-wealthy are "conspiring". They seem to be obsessed with accumulation and retention. They have all their horses and men working to assure that their fortunes increase and are protected. They are concerned about how they will assure that their estate passes on, intact, to their prodigy.

Now, in contrast, just how do we play into that game and what do we have to counter it? It seems we are, and will be, obliged to go along with it and acquiesce more and more simply because we subscribe to a system that assure this happens and will continue. That's really the only reason.

 

Arugula Latte

(50,566 posts)
2. It's amazing to me how much things have changed in my lifetime.
Wed May 8, 2013, 12:56 PM
May 2013

When I was in college in the mid-80s, you could find good state universities that were pretty darn dirt cheap. If you couldn't afford to go to a fancy private college, there was always a state school for you (and if you needed assistance paying for state school the debt was reasonable). Now I know a lot of the families (ours among them) that would have undoubtedly sent their kids to a four-year university a decade or two ago are saying that community college has to be their first option.

AZ Progressive

(3,411 posts)
4. More evidence that America and America's culture is morally/ethically bankrupt
Wed May 8, 2013, 01:52 PM
May 2013

I don't think it'll be long till we start hearing about justifications and the glory of social darwinism and natural selection in the human population based on one's ability to make money.

Seriously though, a country that thinks that it's ok that the cost of admission to getting a decent paying job is to take on tens of thousands of dollars in debt (not to mention while struggling to balance work with studying) and a country that believes that its not a big deal that one could end up with life crushing debt from healthcare bills or die from a disease because of the lack of money is a morally/ethically bankrupt country.

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