Billionaire investor Robert F. Smith's commitment to pay off the student loan debt for graduates of the historically black Morehouse College covers millions of dollars, the school said."When you have to service debt, the choices about what you can go do in the world are constrained," Morehouse President David A. Thomas said Sunday. "(Smith's gift) gives them the liberty to follow their dreams, their passions." Thomas told CNN on Monday that the exact amount of student loan debt to be covered was still being calculated.Smith's gesture, which Thomas called "a liberation gift," will enable graduates to have more capital to do things like start businesses and support their families.https://amp.cnn.com/cnn/2019/05/20/us/morehouse-robert-smith-student-loans/index.html
>>400443inb4 200 posts of bitter STEM grads pointing out that this historically black college is almost entirely business and economics
But if he does that they can't be forced to wageslave for 50 years and never pay off the compound interest
>>400447Because while the economy and wages go up and down, college tuition only goes up.
>>400447>BooksNew US book - Anywhere between $150-$300. Used US book - Anywhere between $100-$180. Used International book - Anywhere between $20-$80.>Useless programsI obviously cannot speak for every college, but I've been inside some of the student life manager offices and seen stuff on their whiteboard calendars. These people are dishing out hundreds, if not thousands, to host a comedian, juggler, or somebody telling you not to commit suicide.>Expectation of financial aidPeople get sick of how much they spent, so they offer scholarships, which has to be recognized by the system for it to be legit financial aid. This means a lot of schools are privy to almost all of the scholarship opportunities and can sometimes choose which ones they want to accept. They then factor students using said aid into their cost. But as costs go up, scholarships keep popping up, which inflates the price more because they assume students are privy to this knowledge and using it. And so, it feeds into itself.
>>400443> Black billionaire spends millions paying off student loan debt of brothers> Jeff Bezos: fuck 'em, I'll pay them 10 bucks an hour in my warehouse to ship my shit./pol/ bent ova and BTFO.
>>400447The expectation of financial aid. When I attended, I noticed how even though I'd receive more federal money each year for school, the school would find some way to increase total cost to match the new limit. Financial aid goes up, tuition/fees go up to match it. Repeat for decades.Education isn't a scam, but college sure as hell is.
>>400511Not to mention rent doubles the price of college if you can't live at home.
>>400443Legitimately happy for them.
>>400514IME, rent accounted for about 2/3 of my costs. Even the dorms were ludicrously expensive compared with local market value of studio apartments in the area. The way they got me was that freshmen were forced to live in the dorms AND buy the bullshit meal plan, which was not only more expensive but also didn't buy 3 meals a day, not to mention needing to eat while working at my part time job.
>>400535Trained you into being a debtslave right from the start
>>400542Pretty much. Unfortunately, college is required in my field if you want to be anything better than a do-monkey. Even with the good job I got, it's going to take a while to pay off.
>tfw despise the lavourslave >tfw despise the dataslave >tfw the only other option is militaryfagJesus Christ to be born talented
a black guy who only gives charity to blacks?THATS RASCIST
>>400617Not everyone at Morehouse is black, nor is being black a requirement to attend. Historically black =/= black only. There are even whites in that graduating class.
>>400624>its ok if we got a token honkey!still defending racism?
>>400631Its not Robert Smith's fault that no white kids were smart enough to get into that school. The rich white kids can buy their way into the Ivy league, Georgetown, Stanford, Johns Hopkins and all the other so-called prestigious white schools, but to get into Morehouse you've got to qualify academically and only academically. Brainpower is the only thing that can get you into that school, race isn't a factor.
>>400616Have you tried prostitution?
>>400447To crush young adults under massive debt so they'll be completely incapable of acting against their own best interest.If you're 50k in debt you're not going to go protesting, you're going to scab as hard as you can and pray you can crawl out of debt before the next big crisis.Its why we're still fighting over shit from the 1950s.
>>400956Epic racism kid
>>400507Is Bezos suddenly a Republican now?
>People have to live off the charity of the rich to live a happy life.This is why America sucks.
>>401119yeah they should have seized that money instead
>>401121>seize>not render obsolete
>>401122we won't see it, and our kids won't see it either
>>400956How come all of the college admission bribery scandals were are predominantly white universities? If whites are so smart then why can't they qualify for college admission without cheating like the black kids do?
>>401240Asians, not that they aren't well versed in cheating as well
>>401242If Harvard had an admission bribery scandal recently how long do you think that shit has been going on? Decades? How many incompetent, uneducated white folks are there holding valueable positions of importance and power who got there based on a college degree they didn't earn? Should everyone who ever went to an Ivy League school or the equivalent have their qualifications reviewed and reverified or should they just be fired outright?
>>401244sure why not
>>400447Government financial aid and private student loans made it so regardless of who applies, the college is still going to get paid. If you're going to get paid for a job regardless of the cost, most people will end up charging more for no particular reason.Our universities also prop up the rest of world for discoveries and research grants (when is the last time an African nation university discovered a new drug or scientific constant), so that ends up driving the costs even more.
>>400635>not smart enough to get into Morehouse>a predominantly business and economics schoolIts probably because a business degree gets you about as far as a store manager for Walgreens. Not a particularly interesting job prospect for the smarter races.
>>402108The current sitting president graduated from Wharton, a predominantly business and economics school. Its hysterical that you award yourself credit for being more intelligent than the president when you're an absolute nobody while Trump on the other hand will be remembered in history books for at least as long as the emperors of Rome if not longer.
>>402148>The current sitting president graduated from Wharton,Anyone with five hundred million of daddy's dollars could graduate from any university he wanted.>Trump on the other hand will be remembered in history books for at least as long as the emperors of Rome if not longer.He'll be a footnote along with Warren Harding and other phenomenally incompetent and corrupt presidents. Sure, people will remember he exists. They'll remember Bin Laden too.
>>402151Well its clear that you agree with the idea that ou Morehouse is a lesser school, keep up making new reasons for why you say that, nobody believes any of them, its overtly obvious that you just hate niggers.
390 fucking students are going to have up to 40 million in debt combined? Just to go to fucking school? What the fuck is this shit? How is this even remotely okay?
>>400447>why is university like 2x as much as it was 20 years ago?My alma mater was over $300 a credit hour for undergrads the last time I was there in '12. It was $75 a credit hour in 2000. When I first went to university in 94 it was $35 a credit hour. Some of the classrooms don't have heat in the winter time, but I guess that money goes somewhere.
>>402148>Trump on the other hand will be remembered in history books for at least as long as the emperors of Rome if not longer.He does sort of remind me of Nero, now that you bring it up.
>>402636Some shit shouldn't be businesses but unchecked capitalism forces them to be. Should people be paid for teaching and working in schools? Yes but schools should not be run like businesses.
>>403164By what metric should we measure the quality of our schools then?https://www.cato.org/blog/public-school-spending-theres-chartIt seems like we're spending twice as much, for no measurable benefit.
>>403170>By what metric should we measure the quality of our schools then?Graduation rates???
>>403171Okay. So it seems like George Bush was the leader of education reform, by increasing graduation rates through no child left behind.Sure, some inner citiy schools had people graduating highschool reading at a 4th grade level, but it seemed like he solved the problem
>>403174If they don't learn anything they should fail.back when I was in highschool parents and their special snowflake kids would go full autistic if a teacher failed them.also teachers should be given guns and tasers,especially when dealing with the more unstable parents:RIP Tony head ya meth bitch,your son was a pedo and I fudged your daughter.
>>401026the Koch Bros or Mercers or Trump ain't done shit