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Billionaire pays off Morehouse graduating class’s student debt

I’m vilifying the consequences of extreme inequality that cause us to be heavily reliant on whims of the wealthy because we can’t assume our hard work will get us out of financial hardship.

Also, you’ve got to imagine this will lead to even more billionaires getting invited to give graduate speeches.
 
ImTheCaptain said:
i'll vilify the donor. why didn't he pay off every college kids' debt? cheapskate
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Exactly. He should have paid off my debt too. Those students should be forced to pay off their student loans the exact same way the rest of us do, by begging total strangers on gofundme. Speaking of which have you all donated?
 
deaconson said:
Right. The graduating class from ONE school has 40 million in dept. Think about that for a minute.
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Everyone always laments the college debt kids are graduating with (and I agree it is awful) but I don't see many people blaming it on the ridiculous increase in the cost of college over the past 20-30 years. I see no suggestions that schools should be figuring out a way to charge less. That is the basic problem - if school costs had increased at the same rate as inflation we would be in a much different place now.
 
scooter84 said:
Everyone always laments the college debt kids are graduating with (and I agree it is awful) but I don't see many people blaming it on the ridiculous increase in the cost of college over the past 20-30 years. I see no suggestions that schools should be figuring out a way to charge less. That is the basic problem - if school costs had increased at the same rate as inflation we would be in a much different place now.
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there's a whole thread on this
 
scooter84 said:
Everyone always laments the college debt kids are graduating with (and I agree it is awful) but I don't see many people blaming it on the ridiculous increase in the cost of college over the past 20-30 years. I see no suggestions that schools should be figuring out a way to charge less. That is the basic problem - if school costs had increased at the same rate as inflation we would be in a much different place now.
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Wake tuition would be $13K.
 
I would be pretty pissed if I graduated last year or was graduating next year. Seems kind of random to pick one graduating class and clearing their debt instead of contributing a similar amount to addressing the broader problem.
 
scooter84 said:
I would be pretty pissed if I graduated last year or was graduating next year. Seems kind of random to pick one graduating class and clearing their debt instead of contributing a similar amount to addressing the broader problem.
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Bingo. This is a great media story that plays well in the headlines but that $40MM could have been put to much better use than just paying off the loans for one class from one university.
 
Strickland33 said:
It sounds like you should consume better media, scooter.
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Not sure why you are picking on my comments, but, the point is that there are two sides to the issue and two ways to address it - my impression is that most focus is on figuring out how to relieve the debt load on students and not on figuring out how and why it got so big.
 
You can't fix a problem without knowing how the problem started and why it grew. Otherwise, you are just kicking the can down the road.
 
scooter84 said:
Not sure why you are picking on my comments, but, the point is that there are two sides to the issue and two ways to address it - my impression is that most focus is on figuring out how to relieve the debt load on students and not on figuring out how and why it got so big.
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There are far more than two sides to this issue...

It sounds like you should check out Liz Warren’s platform if you’re interested in resolving the student debt crisis.

Meanwhile, as long as were living in the age of gross capitalist excess, at least a few billionaires - who we could never tax disproportionately or even proportionately because it would be unethical from what I hear - is actually doing something decent with their money...
 
scooter84 said:
Everyone always laments the college debt kids are graduating with (and I agree it is awful) but I don't see many people blaming it on the ridiculous increase in the cost of college over the past 20-30 years. I see no suggestions that schools should be figuring out a way to charge less. That is the basic problem - if school costs had increased at the same rate as inflation we would be in a much different place now.
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Oh, we're here. Undergraduate tuition is unbelievably inflated. All so universities can hire and overpay pointless admin, and then brag about the size of the institution's savings accounts. It is disgusting.
 
ImTheCaptain said:
bernie bros really know how to win hearts and minds
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Y’all couldn’t even manage to vote for Clinton last time around, itc.

How about you help turn Pennsylvania blue again and then we’ll talk about winning hearts and minds.
 
BillBrasky said:
Oh, we're here. Undergraduate tuition is unbelievably inflated. All so universities can hire and overpay pointless admin, and then brag about the size of the institution's savings accounts. It is disgusting.
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University tuition is inflated because the government is subsidizing it, at the same time our financial institutions allow students to take incredibly reckless loans on bullshit degrees. Like the snake oil degrees our resident professor is selling to incoming students indebting them forever while he cashes their checks and posts on message boards all day. But yea its the billionaires that suck.
 
WFcatamount22 said:
University tuition is inflated because the government is subsidizing it, at the same time our financial institutions allow students to take incredibly reckless loans on bullshit degrees. Like the snake oil degrees our resident professor is selling to incoming students indebting them forever while he cashes their checks and posts on message boards all day. But yea its the billionaires that suck.
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Who do you think profits off of inflated tuition - and resulting student loan debt - in colleges, Catamount?
 
WFcatamount22 said:
The schools/administrators and financial institutions who wrote the loans.
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And who benefits when the financial institutions cash in? Joe Schmo investors, or the benevolent billionaires who own and control those "businesses"?

Come on man.
 
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