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(MassLive)   $85k/yr college thinks legacy admission is the problem   (masslive.com) divider line
    More: Unlikely, Household income in the United States, History of education, Liberal arts, Liberal arts college, prospective students, Amherst College, Legacy preferences, Student financial aid  
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3741 clicks; posted to Main » on 21 Oct 2021 at 9:35 AM (5 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



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2021-10-21 8:43:58 AM  
"Amherst is sending a clear signal to prospective students that its education is within reach for all," the prominent Massachusetts liberal arts college said in a press release.

lol

Now, as they work toward education access, Amherst College is increasing its student financial aid to $71 million per year and will provide support to 60% of its students...

lollol

...the highest proportion of any need-blind liberal arts college.

rofl

The school hopes their increased investment in financial aid will make a debt-free liberal arts education more accessible to middle- and low-income families.

roflmao

One in six members of the student body will see their grant jump by more than $5,000 when the new policies go into effect next year, the school added.

ROLFMAO

Man, Netflix should sign these guys up for a comedy special.

I particularly like the hidden gem in the article where they proudly declare that 80 percent of U.S. households would qualify for one of these increased scholarships (because they can't afford to go there anyway) but only 60 percent of the student population will actually get one.
 
2021-10-21 8:44:18 AM  

Bowen: Only rich people pay full tuition. A middle class kid would probably pay $85k for all 4 years combined.


I actually can't tell if you're serious or not.
 
2021-10-21 9:38:32 AM  

Bowen: Gubbo: Bowen: Only rich people pay full tuition. A middle class kid would probably pay $85k for all 4 years combined.

I actually can't tell if you're serious or not.

I'm completely serious. This is the estimate for $100k family income, $500k retirement account, $250k home equity.

[Fark user image 333x750]


I needed a laugh this morning.
 
2021-10-21 9:39:48 AM  

Bowen: Gubbo: Bowen: Only rich people pay full tuition. A middle class kid would probably pay $85k for all 4 years combined.

I actually can't tell if you're serious or not.

I'm completely serious. This is the estimate for $100k family income, $500k retirement account, $250k home equity.

[Fark user image 333x750]


That estimate shows zero loans, but how many families can afford to kick-in over $21k per year?
 
2021-10-21 9:41:28 AM  

madgonad: Bowen: Gubbo: Bowen: Only rich people pay full tuition. A middle class kid would probably pay $85k for all 4 years combined.

I actually can't tell if you're serious or not.

I'm completely serious. This is the estimate for $100k family income, $500k retirement account, $250k home equity.

[Fark user image 333x750]

That estimate shows zero loans, but how many families can afford to kick-in over $21k per year?


You sound poor.

/me to.
 
2021-10-21 9:43:19 AM  
At top tier Canadian universities tuition is still down to like $10k per year. A masters at UofT is usually around $7800/year. And for my grad students, their stipend (whichnis not very high) includes the full cost of tuition so they can almost always avoid further loans.
 
2021-10-21 9:43:33 AM  
I'm lucky I went to a state university back when it was actually pretty affordable, and also my mom worked there so I got free tuition... of course that didn't cover "curriculum support fees" (whatever the fark that means) which were suspiciously exactly equal to the tuition.
 
2021-10-21 9:44:56 AM  
My dad built and owned Four Seasons Liquors outside of UMass Amherst. Been on campus a few times, mostly for computer shows.
 
2021-10-21 9:50:05 AM  
$85k/yr is exactly the definition of what a legacy is.
 
2021-10-21 9:51:06 AM  
No legacies and more aid is a good thing.
 
2021-10-21 9:51:12 AM  

madgonad: Bowen: Gubbo: Bowen: Only rich people pay full tuition. A middle class kid would probably pay $85k for all 4 years combined.

I actually can't tell if you're serious or not.

I'm completely serious. This is the estimate for $100k family income, $500k retirement account, $250k home equity.

[Fark user image 333x750]

That estimate shows zero loans, but how many families can afford to kick-in over $21k per year?


Wouldn't the loans be something the student and their family have to work out based on their ability to front the $21k student responsibility?

I read it as "total is $80k, because your impoverished family only has an $100k income we'll cover $58k of it, how you scrounge together the remaining $22k is up to you"
 
2021-10-21 9:51:25 AM  

Bowen: Only rich people pay full tuition. A middle class kid would probably pay $85k for all 4 years combined.


Only rich people go to Amherst.
 
2021-10-21 9:55:50 AM  
I actually don't understand why the advertised price of college is so high considering good students don't pay anything remotely close to that.

Amherst offers generous scholarships.
In 2020-21, Amherst provided more than $60 million in scholarship aid to our students and the average financial aid award was more than $59,000.


Is it a tax issue?
 
2021-10-21 9:58:42 AM  
Amherst?  Who on earth wants to go to Amherst?
 
2021-10-21 10:00:33 AM  
Look, I don't want to hear ANYTHING about the student loan debt issue if people are actively *choosing* to spend 4-5x as much on a private education than a public one. Fark around and find out.

$350k in debt from a private liberal arts school. ROFLMAO.

c.tenor.comView Full Size
 
2021-10-21 10:01:27 AM  
Legacy admissions ARE a problem. Legacy students already have a leg up on disadvantaged students in that they obviously come from educated families. They don't need to be admitted to elite universities at 6 times the rate of non-legacy students.
 
2021-10-21 10:01:52 AM  
College in its current form is the dumbest farking waste of money that we saddle on our youth.  There is no reason it should cost us much as it does except to enrich a small group of people and serve as a gatekeeper to keep the poor impoverished.
 
2021-10-21 10:01:54 AM  
64.media.tumblr.comView Full Size
 
2021-10-21 10:02:18 AM  
Graduating seniors in my podunk little school district gain $1 million in scholarships every year. Considering there are roughly 200 students in each senior class, that's $50,000 per student - if everyone goes to college. Hell, we've got kids graduating from the county tech school with nursing, mechanical, welding and mechanical skills that pay $30 an hour - and are in high demand - not like some useless English and Journalism degrees.
 
2021-10-21 10:03:17 AM  

Dr. Nick Riviera: College in its current form is the dumbest farking waste of money that we saddle on our youth.  There is no reason it should cost us much as it does except to enrich a small group of people and serve as a gatekeeper to keep the poor impoverished.


It's a private school. People choose to pay $35k/year for an elementary and high school education as well. 

Let them - but, the government shouldn't be backing loans and absolutely should not be forgiving loans to students who willfully choose to engage in that stupidity.
 
2021-10-21 10:07:28 AM  

Catsaregreen: Graduating seniors in my podunk little school district gain $1 million in scholarships every year. Considering there are roughly 200 students in each senior class, that's $50,000 per student - if everyone goes to college. Hell, we've got kids graduating from the county tech school with nursing, mechanical, welding and mechanical skills that pay $30 an hour - and are in high demand - not like some useless English and Journalism degrees.


My school posted the same data.

If you were admitted and qualified for $20k in aid from five schools they put you down as qualifying for $100k in scholarships. Not exactly honest, but technically accurate.
 
2021-10-21 10:07:31 AM  

johnphantom: My dad built and owned Four Seasons Liquors outside of UMass Amherst. Been on campus a few times, mostly for computer shows.


Was he ever approached by Giuliani for a press conference?
 
2021-10-21 10:08:22 AM  
Is this the thread where I tell everyone I skipped college, became an electrician, and now collect $300K in disability every year after blowing off 8 of my fingers?
 
2021-10-21 10:09:53 AM  
Bowen:

None? I have no idea, I just know the average aid package at Amherst is over $50k, so very few people are paying $85k.

I wonder if universities do "extreme pricing" and then give financial aid so they can say "look, we are sooooo generous! Instead of $100k per year you only need to pay $50k! We give 20 million dollars per year in financial aid!"
 
2021-10-21 10:11:50 AM  

madgonad: Bowen: Gubbo: Bowen: Only rich people pay full tuition. A middle class kid would probably pay $85k for all 4 years combined.

I actually can't tell if you're serious or not.

I'm completely serious. This is the estimate for $100k family income, $500k retirement account, $250k home equity.

[Fark user image 333x750]

That estimate shows zero loans, but how many families can afford to kick-in over $21k per year?


Then they aren't a family with $100K income and $250K home equity and $500K already socked in retirement and they should redo the calculator with their numbers
 
2021-10-21 10:12:16 AM  
Animal House (2/10) Movie CLIP - A Real Zero (1978) HD
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2021-10-21 10:13:58 AM  

Bowen: Only rich people pay full tuition. A middle class kid would probably pay $85k for all 4 years combined.


Explain to the class why that should be a requirement for education, and how all of the countries that give it away are wrong for doing so.
 
2021-10-21 10:14:20 AM  

Rapmaster2000: I actually don't understand why the advertised price of college is so high considering good students don't pay anything remotely close to that.

Amherst offers generous scholarships.
In 2020-21, Amherst provided more than $60 million in scholarship aid to our students and the average financial aid award was more than $59,000.

Is it a tax issue?


Foreign students are not typically eligible for scholarships or financial aid and typically pay the "rack rate".
 
2021-10-21 10:15:36 AM  

Feel_the_velvet: Is this the thread where I tell everyone I skipped college, became an electrician, and now collect $300K in disability every year after blowing off 8 of my fingers?


How do you fap?

/inb4 "very carefully"
 
2021-10-21 10:16:49 AM  

johnphantom: My dad built and owned Four Seasons Liquors outside of UMass Amherst. Been on campus a few times, mostly for computer shows.


I bought a six pack at that liquor store several years ago when I was attending a conference at UMass. Tell your dad thanks.
 
2021-10-21 10:17:09 AM  
I'll always remember the classic SAT guide Up Your Score saying they asked one person recently admitted to Harvard what his score was, and he said "1767." And they were all "Huh? It only goes up to 1600."

"Yeah, but my family has been going there since 1767, so it doesn't matter what I score."

/Yes, I know it went higher than that for a few years in the mid-2000s, way after this was written. Shut up.
 
2021-10-21 10:17:33 AM  

thealgorerhythm: madgonad: Bowen: Gubbo: Bowen: Only rich people pay full tuition. A middle class kid would probably pay $85k for all 4 years combined.

I actually can't tell if you're serious or not.

I'm completely serious. This is the estimate for $100k family income, $500k retirement account, $250k home equity.

[Fark user image 333x750]

That estimate shows zero loans, but how many families can afford to kick-in over $21k per year?

Then they aren't a family with $100K income and $250K home equity and $500K already socked in retirement and they should redo the calculator with their numbers


$100k income means $70k take-home.

If the parents aren't putting ANY money into their retirement, they can maybe swing that $21k. But asking parents to pay nearly 1/3 of their post-tax income in tuition isn't reasonable. Those numbers should horrify anyone.
 
2021-10-21 10:19:49 AM  

Fonaibung: $100k income means $70k take-home.

If the parents aren't putting ANY money into their retirement, they can maybe swing that $21k. But asking parents to pay nearly 1/3 of their post-tax income in tuition isn't reasonable. Those numbers should horrify anyone.


You can go to state colleges for $11k a year or community colleges for $3k a year. Not everyone can afford the BMW experience. Some people just need to buy a Honda or ride the bus.
 
2021-10-21 10:23:45 AM  
In the past, legacy students, who are children of alumni and academically qualified

LOL... oh wow.
 
2021-10-21 10:25:47 AM  

Bowen: Only rich people pay full tuition. A middle class kid would probably pay $85k for all 4 years combined.


omg how high are you right now
 
2021-10-21 10:31:38 AM  

bthom37: Amherst?  Who on earth wants to go to Amherst?


People who couldn't get into Swarthmore or Williams?
 
2021-10-21 10:34:53 AM  

Fear the Clam: bthom37: Amherst?  Who on earth wants to go to Amherst?

People who couldn't get into Swarthmore or Williams?


frinkiac.comView Full Size
 
2021-10-21 10:36:17 AM  

Fonaibung: Feel_the_velvet: Is this the thread where I tell everyone I skipped college, became an electrician, and now collect $300K in disability every year after blowing off 8 of my fingers?

How do you fap?

/inb4 "very carefully"


Fark user imageView Full Size
 
2021-10-21 10:44:23 AM  
I know a grad. He's a higher up at McKinsey and probably makes 7 figures sorting out how to eliminate white collar jobs in the medical industry.  We call his company "The Firm" because it completely reminds me of the Grisham novel.
 
2021-10-21 10:46:05 AM  

Serious Black: Legacy admissions ARE a problem. Legacy students already have a leg up on disadvantaged students in that they obviously come from educated families. They don't need to be admitted to elite universities at 6 times the rate of non-legacy students.


If only there were an article about a college eliminating legacy admissions, and we had to the technology to "click" on a "link" to such an article.

Alas, such is the stuff of dreams.
 
2021-10-21 10:50:29 AM  
The problem is too many colleges and not enough need for the skills many colleges are teaching.  This has led to degree requirements for jobs that shouldn't have them.
 
2021-10-21 10:51:53 AM  
Going to college for $80k, whether that be annual or over all four years, is completely insane when you can get a bachelor's for $20-30k through community colleges and state universities.

I mean, I guess it's one thing if it's Harvard or something, but a B.A. in English from a small liberal arts school isn't going to guarantee you a cushy lifestyle anymore. It's not the 1950s anymore.
 
2021-10-21 10:54:39 AM  

madgonad: Catsaregreen: Graduating seniors in my podunk little school district gain $1 million in scholarships every year. Considering there are roughly 200 students in each senior class, that's $50,000 per student - if everyone goes to college. Hell, we've got kids graduating from the county tech school with nursing, mechanical, welding and mechanical skills that pay $30 an hour - and are in high demand - not like some useless English and Journalism degrees.

My school posted the same data.

If you were admitted and qualified for $20k in aid from five schools they put you down as qualifying for $100k in scholarships. Not exactly honest, but technically accurate.


How do you get admitted to 5 schools? Do you do all 5 at once or do you attend college for 20 years?
 
2021-10-21 10:55:01 AM  

chawco: At top tier Canadian universities tuition is still down to like $10k per year. A masters at UofT is usually around $7800/year. And for my grad students, their stipend (whichnis not very high) includes the full cost of tuition so they can almost always avoid further loans.


What's the true top tier Canadian tax rate?  Accounting for ALL taxes, local, federal, sales, income, and so on and so forth?
 
2021-10-21 10:55:35 AM  

Bowen: Only rich people pay full tuition. A middle class kid would probably pay $85k for all 4 years combined.


Rich people don't pay full tuition, but they are expected to pony up to get their unqualified kid admission.

Also Amherst has a horrific record in how they treat minorities, bad enough they've been sued and settled rather than risk court.
 
2021-10-21 11:07:12 AM  

madgonad: Bowen: Gubbo: Bowen: Only rich people pay full tuition. A middle class kid would probably pay $85k for all 4 years combined.

I actually can't tell if you're serious or not.

I'm completely serious. This is the estimate for $100k family income, $500k retirement account, $250k home equity.

[Fark user image 333x750]

That estimate shows zero loans, but how many families can afford to kick-in over $21k per year?


You have 18 years from the time you have a kid until you need to pay for college. a couple hundred bucks a month in a college account goes a very long way over that timeframe.
 
2021-10-21 11:10:10 AM  

Just another Heartland Weirdass: chawco: At top tier Canadian universities tuition is still down to like $10k per year. A masters at UofT is usually around $7800/year. And for my grad students, their stipend (whichnis not very high) includes the full cost of tuition so they can almost always avoid further loans.

What's the true top tier Canadian tax rate?  Accounting for ALL taxes, local, federal, sales, income, and so on and so forth?


A little less than most americans pay for taxes plus health insurance.

My total income taxes are probably around 30%. My insurance costs are zero (I pay a small amount for supplemental insurance at work), and my yearly deducible is zero dollars if I ever land in hospital. Oh and my pre existing condition from kidney failure in high school hasn't dominated or ruined my life.

Pretty sure dollar for dollar I'm better off than 80% of americans. the US is still the best country to live in if you're rich. So I guess you've got that going for you.
 
2021-10-21 11:12:59 AM  

chawco: Just another Heartland Weirdass: chawco: At top tier Canadian universities tuition is still down to like $10k per year. A masters at UofT is usually around $7800/year. And for my grad students, their stipend (whichnis not very high) includes the full cost of tuition so they can almost always avoid further loans.

What's the true top tier Canadian tax rate?  Accounting for ALL taxes, local, federal, sales, income, and so on and so forth?

A little less than most americans pay for taxes plus health insurance.

My total income taxes are probably around 30%. My insurance costs are zero (I pay a small amount for supplemental insurance at work), and my yearly deducible is zero dollars if I ever land in hospital. Oh and my pre existing condition from kidney failure in high school hasn't dominated or ruined my life.

Pretty sure dollar for dollar I'm better off than 80% of americans. the US is still the best country to live in if you're rich. So I guess you've got that going for you.


Judging at your absurd real estate costs, I'd say Canadians are objectively richer than 90% of Americans anyways. Then again, what's the conversion rate now? $1 USD is like $1 kagillion CAD?
 
2021-10-21 11:19:04 AM  

chawco: Just another Heartland Weirdass: chawco: At top tier Canadian universities tuition is still down to like $10k per year. A masters at UofT is usually around $7800/year. And for my grad students, their stipend (whichnis not very high) includes the full cost of tuition so they can almost always avoid further loans.

What's the true top tier Canadian tax rate?  Accounting for ALL taxes, local, federal, sales, income, and so on and so forth?

A little less than most americans pay for taxes plus health insurance.

My total income taxes are probably around 30%. My insurance costs are zero (I pay a small amount for supplemental insurance at work), and my yearly deducible is zero dollars if I ever land in hospital. Oh and my pre existing condition from kidney failure in high school hasn't dominated or ruined my life.

Pretty sure dollar for dollar I'm better off than 80% of americans. the US is still the best country to live in if you're rich. So I guess you've got that going for you.


Yes, but your football field greens-keeping costs are 10% higher.  You never see that taken into account.
 
2021-10-21 11:23:39 AM  

Rapmaster2000: Fear the Clam: bthom37: Amherst?  Who on earth wants to go to Amherst?

People who couldn't get into Swarthmore or Williams?

[frinkiac.com image 640x480]


frinkiac.comView Full Size
 
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