Rice tuition announcement

[Anonymous]

OP, the way you worded it as poor:middle class:upper middle class may be distorting the most likely meaning. Rice has at least 4 levels and the edges of those levels are fuzzy based on need. The quote is

"full tuition scholarships will be awarded to degree-seeking undergraduates with family incomes between $65,000 and $130,000 who are eligible to receive need-based financial aid. In addition, students with family incomes between $130,000 and $200,000 will receive scholarships covering at least half of their tuition."

Since awards are most likely "sliding" up to $200k, it is unlikely that there is a sharp cutoff, but I guess some would rather see the glass as half empty rather than half full.

[Anonymous]

OP, if u can defer income at your company, then definitely do so to bring your income down to under $200k

[Anonymous]

Anonymous wrote:OP, if u can defer income at your company, then definitely do so to bring your income down to under $200k

But you need to have done this 2 years before your child starts college, and continue until they are finished. Worth it?

[Anonymous]

Anonymous wrote:

Anonymous wrote:OP, you are a great example of privilege. Just because OTHER people get something for free, it does not hurt you. Yet you are still upset by it. Because you are UMC and used to the world bending in YOUR favor and not the poor kid's favor. You feel threatened and attacked even when your lot in life has not changed.

And you sound like a complete idiot. I'm not the person you are referring to but we have 3 kids entering College 2 years after each other. We don't qualify for any assistance and we certainly are not independently Wealthy by any stretch of the imagination. We've been saving since the boys were born but we will have to pay a majority of these cost out of pocket. The boys will likely take out loans if they don't qualify for any Merit Aid. Why would I pay a University where I am supplementing another child for free while we are going to be barely scraping by so that our kids aren't graduating with massive amount of debt

And you made my point perfectly. Thank you.

[Anonymous]

Good for Rice. Hopefully other schools will follow.

[Anonymous]

Anonymous wrote:Well, if we quit our jobs now, we can live off of our savings until the kids finish college, then go back to work when they are finished. Otherwise, I'm the idiot paying 80K a year when other people pay nothing.

+1.

[Anonymous]

I have the sense that what Rice is doing with this initiative brings them in line with the financial aid policies of traditionally generous schools like Harvard, Yale, Princeton, and Amherst. Is that right, or are those schools more generous still?

[Anonymous]

Anonymous wrote:OP, if u can defer income at your company, then definitely do so to bring your income down to under $200k

Or, take a sabatical for 1-2 years and travel the world, using the opportunity to sale appreciated stock (long-term capital gains are taxed at 0%, as in NOTHING, for a couple making up to $77k)

[Anonymous]

Well, this would certainly help to make Rice a possibility for lots of kids who were completely shut out before.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP, you are a great example of privilege. Just because OTHER people get something for free, it does not hurt you. Yet you are still upset by it. Because you are UMC and used to the world bending in YOUR favor and not the poor kid's favor. You feel threatened and attacked even when your lot in life has not changed.

And you sound like a complete idiot. I'm not the person you are referring to but we have 3 kids entering College 2 years after each other. We don't qualify for any assistance and we certainly are not independently Wealthy by any stretch of the imagination. We've been saving since the boys were born but we will have to pay a majority of these cost out of pocket. The boys will likely take out loans if they don't qualify for any Merit Aid. Why would I pay a University where I am supplementing another child for free while we are going to be barely scraping by so that our kids aren't graduating with massive amount of debt

And you made my point perfectly. Thank you.

DId anyone actually read the article? It said: family incomes between $130,000 and $200,000 will receive scholarships covering at least half of their tuition.

To me that means that if you are at 201K you would still get financial aid, just not half off. Also PP you can't be so sure about what financial aid you will be eligible for. If your kids can get into selective colleges and you don't have an enormous amount of assets you would likely be eligible for financial aid. Our school told us flat out that if #2 goes to the same school we would still pay the same amount as we did for only having #1 in school, so basically 2 for 1. So don't be so sure, talk to financial aid people, don't trust what everyone says on here......I was sure we would be denied, we applied for aid and I was happy to be wrong.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP, you are a great example of privilege. Just because OTHER people get something for free, it does not hurt you. Yet you are still upset by it. Because you are UMC and used to the world bending in YOUR favor and not the poor kid's favor. You feel threatened and attacked even when your lot in life has not changed.

And you sound like a complete idiot. I'm not the person you are referring to but we have 3 kids entering College 2 years after each other. We don't qualify for any assistance and we certainly are not independently Wealthy by any stretch of the imagination. We've been saving since the boys were born but we will have to pay a majority of these cost out of pocket. The boys will likely take out loans if they don't qualify for any Merit Aid. Why would I pay a University where I am supplementing another child for free while we are going to be barely scraping by so that our kids aren't graduating with massive amount of debt

And you made my point perfectly. Thank you.[/quote

You're most welcome! Why not just have admission based on Merit? You think because a child was born into a family that makes less than $65,000 a year is worthy of graduating without debt but a child that happened to have been born into a family that makes $251,000 should incur debt? The issue is that everyone deserves an education without crushing debt. My kids work their ass off in school, work jobs, and are involved in all sorts of activities. Why are they less Worthy of getting free tuition? You also assume that wealthy parents are all paying for their kids to go to college. You need a reality check.

[Anonymous]

Anonymous wrote:Well, if we quit our jobs now, we can live off of our savings until the kids finish college, then go back to work when they are finished. Otherwise, I'm the idiot paying 80K a year when other people pay nothing.

You meant to type,

"we can live off of our savings until the kids finish college, then go back to work when they are finished. Otherwise, I'm the FORTUNATE GUY paying 80K a year when other people HAVE nothing."

...so I fixed it for you because I am nice.

[Anonymous]

Anonymous wrote:

Anonymous wrote:OP, you are a great example of privilege. Just because OTHER people get something for free, it does not hurt you. Yet you are still upset by it. Because you are UMC and used to the world bending in YOUR favor and not the poor kid's favor. You feel threatened and attacked even when your lot in life has not changed.

And you sound like a complete idiot. I'm not the person you are referring to but we have 3 kids entering College 2 years after each other. We don't qualify for any assistance and we certainly are not independently Wealthy by any stretch of the imagination. We've been saving since the boys were born but we will have to pay a majority of these cost out of pocket. The boys will likely take out loans if they don't qualify for any Merit Aid. Why would I pay a University where I am supplementing another child for free while we are going to be barely scraping by so that our kids aren't graduating with massive amount of debt

Simple. Don't send your kid. I say Hurrah for Rice.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Well, if we quit our jobs now, we can live off of our savings until the kids finish college, then go back to work when they are finished. Otherwise, I'm the idiot paying 80K a year when other people pay nothing.

You meant to type,

"we can live off of our savings until the kids finish college, then go back to work when they are finished. Otherwise, I'm the FORTUNATE GUY paying 80K a year when other people HAVE nothing."

...so I fixed it for you because I am nice.

+1

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP, you are a great example of privilege. Just because OTHER people get something for free, it does not hurt you. Yet you are still upset by it. Because you are UMC and used to the world bending in YOUR favor and not the poor kid's favor. You feel threatened and attacked even when your lot in life has not changed.

And you sound like a complete idiot. I'm not the person you are referring to but we have 3 kids entering College 2 years after each other. We don't qualify for any assistance and we certainly are not independently Wealthy by any stretch of the imagination. We've been saving since the boys were born but we will have to pay a majority of these cost out of pocket. The boys will likely take out loans if they don't qualify for any Merit Aid. Why would I pay a University where I am supplementing another child for free while we are going to be barely scraping by so that our kids aren't graduating with massive amount of debt

And you made my point perfectly. Thank you.[/quote

You're most welcome! Why not just have admission based on Merit? You think because a child was born into a family that makes less than $65,000 a year is worthy of graduating without debt but a child that happened to have been born into a family that makes $251,000 should incur debt? The issue is that everyone deserves an education without crushing debt. My kids work their ass off in school, work jobs, and are involved in all sorts of activities. Why are they less Worthy of getting free tuition? You also assume that wealthy parents are all paying for their kids to go to college. You need a reality check.

Very good points there.

This is why I prefer the Canadian and European model: quasi-free public colleges for everyone, with admissions based purely on merit.