Brown eliminates tuition for families up to $125K and removes home equity in the FA equation
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Anonymous
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https://www.browndailyherald.com/article/2021/10/brown-to-eliminate-tuition-for-families-earning-under-125000-through-financial-aid-expansion
Nice move! /full pay Brown parent and happy about this. |
Anonymous
| Now I just have to get my kid into Brown, lol! |
Anonymous
| Home equity should be included over $400-500k. If a family has a million dollar house it should be included. |
Anonymous
So where should that money be applied, since it will generate more tuition from families making under $125,000? |
Anonymous
Why? |
Anonymous
I disagree - no one should have to sell their house or take out a second mortgage (and risk losing their home) to pay for a child's college. Further, just because a house is owned and paid for doesn't mean that the persons living in the house haven't fallen on harder times and/or make less than they did when they bought the house - AND with home prices and "equity" increasing because of the housing shortage - it's really speculative whether that equity will materialize should the house be sold one day - and then what do you do with a second mortgage that can't be paid off by the sale of the house? Good for Brown - my kid has no interest and/or couldn't get in - but it's a good first step. I personally wish that the Ivies would increase enrollment by 25-50% for those who wish to go to an Ivy - they know that there are enough smart/interesting kids to fill the seats - and they have the endowments to expand. They are just creating artificial scarcity for the sake of exclusivity. |
Anonymous
This is completely conjecture on your part, and you have zero evidence to support this. In addition, it is a threadjack. The fact that you suggest a number of 25-50% shows you haven't even given this ridiculous idea any real thought, as if all they have to do is buy a few buildings. Think it through. |
Anonymous
| Brown has an endowment bigger than some countries at $4.7 billion. They can afford it. |
Anonymous
It's still only #20 and the lowest in the ivy league. Harder for them to do than others. And as we all know, endowment /=cash for any purpose you choose. Institution State Endowment according to NACUBO (billions USD (2019) Harvard University Massachusetts $40.58 Yale University Connecticut $31.20 Stanford University California $28.90 Princeton University New Jersey $26.56 University of Pennsylvania Pennsylvania $20.50 Massachusetts Institute of Technology Massachusetts $18.38 Washington University in St. Louis Missouri $15.30 University of Notre Dame Indiana $11.96 Columbia University New York $11.26 Northwestern University Illinois $10.93 Duke University North Carolina $8.47 University of Chicago Illinois $8.20 Emory University Georgia $7.94 Cornell University New York $7.22 Vanderbilt University Tennessee $6.92 Johns Hopkins University Maryland $6.75 Rice University Texas $6.16 Dartmouth College New Hampshire $5.98 University of Southern California California $5.91 Brown University Rhode Island $4.38 |
Anonymous
Yet they aren’t even in the top 30 of endowment $ per student so good on them |
Anonymous
Okay...and? The U.S. has both the most expensive universities in the world (by far) and coincidentally - the ones with the largest endowments (by far). Yay us. So glad I'm done with that nonsense. |
Anonymous
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A million dollar home in San Francisco is quite modest. If they bought it years ago, they may have paid very little for it. They shouldn’t have to jeopardize their primary residence.
Dartmouth was considering expanding for reasons discussed above but there was swift alumni backlash as people felt the small size was an important part of the character. |
Anonymous
i assume you are white and wealthy/umc professional. A significant amount of people inherit homes form their parents and keep them, live in them and these properties have appreciated insanely, ,my mother's house that i inherited this summer appreciated almost a million from when she bought it in the 70s, i could very well have moved in but its in the suburbs and i don't like that area of potomac. our next door neighbors have inherited their parents house which has also appreciated quite bit and they are moving in b/c its a great property with a lot of close by amenities, they wouldn't be able to afford that home on their own. Forcing black homeowners to sell their inherited property in DC to white owners by punishing them for owning something valuable that they inherited is ALL kinds of screwed up. Its amusing to me how suddenly there is a move towards discounting any sorts of minor wealth accumulation when BIPOC have finally begun accruing some wealth. |
Anonymous
"Okay...and?" That's the best response you have got? The US is the most desirable higher education system in the world overall, spends the most per student, and receives much less from government than other countries, which continues to decrease: https://www.usnews.com/news/national-news/articles/2017-09-18/while-rest-of-the-world-invests-more-in-education-the-us-spends-less So, what do you want? Higher taxes and more government support? (I do). Spend less per student and decrease quality? (I don't). Or some magical event where cost goes down but none of those other things happen? |
Anonymous
Taxing endowments to provide student aid seems like a great idea |