Federal ban on legacy preferences?!

[Anonymous]

I spent 20 years paying $100,000 in student loans from the 1990s. I feel like getting a legacy preference for my kid is the least the school could do for all the blood and sweat it cost me. Most of my 20 years of payments were just interest. I finally gave up and used home equity to pay it off figuring I wanted to be free before age 50. So legacy status isn't always about being rich and fabulous.

[Anonymous]

Anonymous wrote:

Anonymous wrote:For Feds, apparently there’s something called legacy hires. And once hired, of course, legacy promotions.

Are you a Qanon member? Do you like spreading conspiracies?

Please refer to this post: https://www.dcurbanmom.com/jforum/posts/list/1034031.page#21900334

[Anonymous]

Anonymous wrote:I spent 20 years paying $100,000 in student loans from the 1990s. I feel like getting a legacy preference for my kid is the least the school could do for all the blood and sweat it cost me. Most of my 20 years of payments were just interest. I finally gave up and used home equity to pay it off figuring I wanted to be free before age 50. So legacy status isn't always about being rich and fabulous.

But it is unfair.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I spent 20 years paying $100,000 in student loans from the 1990s. I feel like getting a legacy preference for my kid is the least the school could do for all the blood and sweat it cost me. Most of my 20 years of payments were just interest. I finally gave up and used home equity to pay it off figuring I wanted to be free before age 50. So legacy status isn't always about being rich and fabulous.

But it is unfair.

It's unfair I spent half my career paying for my college tuition. But ok.

[Anonymous]

Anonymous wrote:DCUM legacy eligible parents don’t need to worry about this proposal. In fact they should cheerlead it into becoming a law. Why? Because, whenever the topic of legacy preferences giving a leg up comes up on this forum, such parents say their children are well qualified to get into the schools without the legacy status. However, they and their children never give up claiming legacy status in the application! This Bill will help them shed that unnecessary designation finally. Better required, if not voluntary.

+1. DCUM legacy eligible parents also claim that legacies do not give their kids a leg up. But look, how scared they are now when it might be banned?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I spent 20 years paying $100,000 in student loans from the 1990s. I feel like getting a legacy preference for my kid is the least the school could do for all the blood and sweat it cost me. Most of my 20 years of payments were just interest. I finally gave up and used home equity to pay it off figuring I wanted to be free before age 50. So legacy status isn't always about being rich and fabulous.

But it is unfair.

It's unfair I spent half my career paying for my college tuition. But ok.

I agree your loans were unreasonably burdensome. But legacy isn’t a benefit for *you.* You aren’t your kids.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I spent 20 years paying $100,000 in student loans from the 1990s. I feel like getting a legacy preference for my kid is the least the school could do for all the blood and sweat it cost me. Most of my 20 years of payments were just interest. I finally gave up and used home equity to pay it off figuring I wanted to be free before age 50. So legacy status isn't always about being rich and fabulous.

But it is unfair.

It's unfair I spent half my career paying for my college tuition. But ok.

Your reasoning is totally non-sense. Besides, if the school costs you that much and you have to use home equity to pay it off, why do you want to send your kid to the same school? ...so that he will also use home equity to pay off his loan when he is 50? Obviously, the college did not provide an education leading to a successful career for you.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I spent 20 years paying $100,000 in student loans from the 1990s. I feel like getting a legacy preference for my kid is the least the school could do for all the blood and sweat it cost me. Most of my 20 years of payments were just interest. I finally gave up and used home equity to pay it off figuring I wanted to be free before age 50. So legacy status isn't always about being rich and fabulous.

But it is unfair.

It's unfair I spent half my career paying for my college tuition. But ok.

But you weren’t paying the $100,000 to the school,no? So why does the school owe your kid anythjng?

[Anonymous]

Legacy is awesome! And it's not going anywhere. Ridiculous

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I spent 20 years paying $100,000 in student loans from the 1990s. I feel like getting a legacy preference for my kid is the least the school could do for all the blood and sweat it cost me. Most of my 20 years of payments were just interest. I finally gave up and used home equity to pay it off figuring I wanted to be free before age 50. So legacy status isn't always about being rich and fabulous.

But it is unfair.

It's unfair I spent half my career paying for my college tuition. But ok.

Know one forced to go to that school. But OK, you don’t seem to understand that and want legacy entitlement preserved for you/your children.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I spent 20 years paying $100,000 in student loans from the 1990s. I feel like getting a legacy preference for my kid is the least the school could do for all the blood and sweat it cost me. Most of my 20 years of payments were just interest. I finally gave up and used home equity to pay it off figuring I wanted to be free before age 50. So legacy status isn't always about being rich and fabulous.

But it is unfair.

It's unfair I spent half my career paying for my college tuition. But ok.

Know one forced to go to that school. But OK, you don’t seem to understand that and want legacy entitlement preserved for you/your children.

I don’t understand why Pp who presumably was paying off federal loans as I did thinks there is any link between that and legacy status owed him by his schools. The only way to ensure legacy status at top schools is by giving large amounts regularly-something DW and I cannot do. We don’t have seven figures to give to Harvard (and if we did would find a way to give it to the poor). That’s what legacy status is about - getting the parents to give more and more dollars to the school. It has zero to do with how many dollars you owe in federal subsidized or unsubsidized loans. Harvard doesn’t even know my loan status decades after.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I spent 20 years paying $100,000 in student loans from the 1990s. I feel like getting a legacy preference for my kid is the least the school could do for all the blood and sweat it cost me. Most of my 20 years of payments were just interest. I finally gave up and used home equity to pay it off figuring I wanted to be free before age 50. So legacy status isn't always about being rich and fabulous.

But it is unfair.

It's unfair I spent half my career paying for my college tuition. But ok.

Know one forced to go to that school. But OK, you don’t seem to understand that and want legacy entitlement preserved for you/your children.

I don’t understand why Pp who presumably was paying off federal loans as I did thinks there is any link between that and legacy status owed him by his schools. The only way to ensure legacy status at top schools is by giving large amounts regularly-something DW and I cannot do. We don’t have seven figures to give to Harvard (and if we did would find a way to give it to the poor). That’s what legacy status is about - getting the parents to give more and more dollars to the school. It has zero to do with how many dollars you owe in federal subsidized or unsubsidized loans. Harvard doesn’t even know my loan status decades after.

This is not legacy status. Everyone that went has legacy status -donations or not. Development status is different.

[Anonymous]

I can't imagine the institutions not fighting this to keep the donor funds rolling in.

I married into wealth. The amount that they donate to the family alma mater is ridiculous. The school has wings and buildings named after my wife's family. They do it because they love the school, sure, but they also do it for the legacy admissions. To my knowledge, no offspring who has applied to the university has ever been denied admission. My second oldest didn't want to go there but applied because his grandpa pretty much demanded it. I love my kid and think he's terrific, but he didn't belong at that school or have the stats to get in. Did he get in, though? Sure did. He didn't go, much to his grandpa's dismay. If legacy preference disappeared, so would the large donations. They'd still donate, sure, but not $$$$$.

[Anonymous]

Anonymous wrote:I can't imagine the institutions not fighting this to keep the donor funds rolling in.

I married into wealth. The amount that they donate to the family alma mater is ridiculous. The school has wings and buildings named after my wife's family. They do it because they love the school, sure, but they also do it for the legacy admissions. To my knowledge, no offspring who has applied to the university has ever been denied admission. My second oldest didn't want to go there but applied because his grandpa pretty much demanded it. I love my kid and think he's terrific, but he didn't belong at that school or have the stats to get in. Did he get in, though? Sure did. He didn't go, much to his grandpa's dismay. If legacy preference disappeared, so would the large donations. They'd still donate, sure, but not $$$$$.

if you are a big donor, you will get your children in without legacy status. Was Kushner a legacy of Harvard? No, but donating millions works.

[Anonymous]

Anonymous wrote:Who is going to pay top $$ for “connection” when there are none.

As I understand it, it isn't a ban on donor preferences.