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I know this article is from 2007, pre-recession, but endowments are back or near their levels at the big-money schools, and you are seeing state schools struggle with budgets.
Do you think something has to change? What these schools put out even more "entitled" students? (When I graduated a few years, from a private liberal arts college--but nothing high profile and mostly middle class, a lot of students had real part-time jobs; do students at the Ivy Plus schools have real part-time jobs?)
Last edited by Wolfpacker; 03-23-2012 at 09:13 PM..
Central planning never works
Neither money nor formal education necessarily buys IQ or self-made wealth in kids, even if dad was smart and a high achiever and can put kids in whatever elite schools and get them a starter job at Apple/Google or Goldman
Where did today's self-made wealthiest/smartest attend HS/college? Where did their fathers attend HS/college? (99+% of highest achievers in SV or Manhattan of past 30+yrs are guys...engineers or traders)
And does where some high achiever attended HS/college even have any cause-effect vs career success??? Or did they achieve success despite, not b/c of, some useless, costly miseducation at Stanford/Harvard/Berk/IL/CMU?
Humans are remarkably naturally self-selective, adaptive critters no matter nonsensical attempts of commies in DC or in "higher education" to socially engineer aff action kind of stuff
Funny how so few kids from allegedly "better" educations in Germany/Japan or China are amongst the wealthiest/smartest in SiliconValley today...hmmm
Schools like Harvard are using their large endowments to attract middle class/lower class students. Their tuition rates are income based and if your parents make under $60,000 or $75,000/year, you pay NOTHING to attend Harvard, Yale, etc. Harvard also converts any loan aid to grants so you graduate debt free as well. Above those, you pay 10% of your AGI up to an AGI of $180,000. They are the most affordable options out there if you can get in.
State schools don't have to struggle. Alumni could contribute big bucks to endowment funds at state schools just like they do at Harvard and Yale. Voters in those states could vote for higher taxes so there is more money for the state schools....but they don't.
At the Ivy level, it's about getting in, not cost. Upper-middle class families still have an advantage because they can afford all of the "extras," i.e., travel, tutors, music lessons, internships, etc. that make an applicant attractive to a top school.
At the Ivy level, it's about getting in, not cost. Upper-middle class families still have an advantage because they can afford all of the "extras," i.e., travel, tutors, music lessons, internships, etc. that make an applicant attractive to a top school.
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
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The percentage of US residents with college degrees is still only about 30% and they are still making a lot more than those without degrees. Maybe you could talk about the 30% vs the 70%. When hiring I do not give any more credit to an Ivy league graduate than one from a state college, in fact I have only seen one Ivy league candidate in probably 500 applications that have crossed mny desk in the last couple of years. That guy was an out-of-work lawyer applying for an entry level administrative position at just over $20/hour.
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