932
Cries in Debt
(lemmy.zip)
"You could say I've already given you ONE HUNDRED AND TWENTY THOUSAND DOLLARS"
We want a gift! But only if that gift is money!
Reference for those who don't get it: https://youtu.be/aiqKK4ysI7g?si=vacQZ6VZIlvmnIOT
It's a great bit.
"What kind of coke head relative!"
Oh the irony
Unfortunately nobody wants to go a giant single structure college ala Highschool+, aka Community College. They want all the extra stuff.
I did as close to that as I could, going to community then transferring to a 4 year. The problem is deeper than people wanting extra stuff, part of the problem is that nobody respects community college degrees, and they're usually 2 year programs.
Definitely. I started out at a private 4 year, then transferred to the community college back home. I always heard the school had a shaky reputation, but my experience here has been a thousand times better than the private university. (Not to say it's for everyone, but it's absolutely a better fit for me). But if I do decide to go for a BA, it'll have to be at another school, cause they don't offer any here.
Yeah, it was more or less the same experience for me. My community college was the same quality teaching (and in some aspects it was better). Which just makes it infuriating that 4 year community college programs aren't really an option.
Why colleges ask for donations? I am not American.
Greed
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Because they like having money? Running a university is legitimately very expensive and there's always more to do. I think it's more common with people who went to business school or became pro athletes, etc. They end up with very profitable careers and a fond recollection of their time in college. It's worth it to the university to ask almost everyone just in case, because sometimes they find that one whale alum.
Running a ~~university~~NCAA athletics program is legitimately very expensive
FTFY
Athletics is actually petty profitable, since athletes can't be paid, so the school gets all the money for sponsorships, tickets, merch, etc.
It can actually be a problem for the schools, since athletics isn't allowed to be profitable. They have to spend all the money athletics brings in on athletics, which is why the athletics department ends up with all the fancy new buildings.
since athletes can’t be paid,
Remind me again, what is it called when the people generating the wealth are not compensated?
It can actually be a problem for the schools, since athletics isn’t allowed to be profitable. They have to spend all the money athletics brings in on athletics, which is why the athletics department ends up with all the fancy new buildings.
Ah yes, that sounds like a great benefit for students getting an education. Also for the academic staff. Must be great to work at a university as a lecturer and know the football coach earns multiples of your salary.
Honestly I think South Park’s bit on Student Athletes perfectly explains it
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Remind me again, what is it called when the people generating the wealth are not compensated?
Blind government regulations?
What's the point of having an athletic program if you're not using it to subsidize programs that actually matter?
It kinda does do that, just indirectly. Even if the university can't profit directly off of athletics, a successful sports season increases application rates and donations. Basically it boosts the brand recognition and brand identity of the school.
It's still painful to me that the class size at my engineering school basically doubled the year after the university won some basketball championship. I don't want to believe that people, and especially engineers, are that influence-able but the numbers don't lie
So they can up their investment income from $1B to $1.0001B
I looked up the University of Cincinnati's finances once because I never realized they were public. I think UC owns non-liquid non-realestate assets somewhere in the 30billion range. They still ask for donations, despite the fact they could give free education to every student for multiple years.
It's nuts how wealthy some of those universities are. Several could easily provide free education and still turn a profit
I wonder if they use tuition fees mostly for rationing aceess
Most donations are restricted to the purpose of the donation. You'd need to know how much of the endowment is for scholarships. Sometimes schools will have an immense amount of money, but can't actually lower tuition because the money is tied up in other things. If I give money for an endowment that supports future replacement of electron microscopes, that does fuck all for your tuition.
If I give money for an endowment that supports future replacement of electron microscopes, that does fuck all for your tuition.
Presuming of course that they absolutely weren't going to replace those microscopes without that endowment. If they were, then that endowment frees up some money elsewhere in the budget. Unless literally every penny they hold has strings attached, then the fungibility of money means they could use general fund money they aren't spending on X because of an endowment on Y instead.
Presuming of course that they absolutely weren't going to replace those microscopes without that endowment.
In many, if not most, cases there would never be room in a budget for an electron microscope at your average mid sized or small school. Keep in mind we're talking about a million+ dollar expenditure.
In many cases improvements like a building or an electron microscope absolutely hinge almost entirely on donations, that's why they are so attractive to a donor. They can make real lasting improvements to a college or university that wouldn't otherwise exist.
Even the endowed scholarships that go to assist with tuition are never as big as people think. If you have a $100,000 endowed scholarship. The school is likely only giving $4,500 of that out each year so they can grow the endowment at the same rate they give out money, thereby ensuring future students get more help.
I'll paraphrase a real world example. School X has a $100 million dollar endowment, with $65 million going to endowed scholarships, that's only ~$3 million a year for tuition relief. That same school is looking at a $45 million a year budget. Certainly they could chose to spend down their endowment and give their students 2 years of free school... And then what? Pass on the 3 million a year budget shortfall to future students?
I work in higher Ed, I agree the system is broken, but most schools endowments come no where near being able to give free tuition.
Yeah, people like to have their names on physical things so they pay for more buildings rather than paying for scholarships.
Purelly and entirely because when it comes to money with no strings attached, having X + A money (if A is a positive real number) always beats having only X money, hence why lots of people are pointing out Universities with X in the billions of $ which still ask for donations.
It's pure unadulterated greed, trying to monetise a (not anymore deserved for most in the US) public image of Universities as places that help people have a better future.
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Since you know the person on the phone is doing work study, you tell them that you won't donate a dollar until your salary clears their tuition costs.
They stopped calling me!
"Oh shit, you didn't spend all of the $90,000.00 I literally just gave you, did you?!"
I work at a consulting firm that has the college I went to as a client. I get to bill their asses
So the money you use to pay off your student's debts is used to provide your income, which you can use to pay off student's debt...
It' the ciiiircle of life!
The loan is used to pay the school. The debt is to some other party. Unless schools have been getting into the student loan racket, too.
Had my university call me up about a year after I had graduated. I was unemployed and had not been able to find a job post-graduation. I explained to the person that unfortunately I do not have an income at this time and was still living at home with my parents and trying to find a job. Their response: "Well do you have a credit card? You could use that to donate and worry about paying it off later."
What's the problem? We can just add it to your existing student debt.
I am never going to financially recover from this.
My college used to call me monthly and I kept telling them I was unemployed, for a year straight. They haven't called in ten years now 🤷♂️
But you have freedom ("free" as in "free to pay")!
The joy of every college offering every degree and sport with tons of different offices which don't really teach you anything lol.
There's a reason they go through white collar fat like mad the moment enrollment goes down. Which has been down for like 5 years now.
Also most of those donations subsidize tuition for every campus I've ever visited.
And while they are looking for everyone's money, it's usually very well off whales that pitch in the vast majority of fundraising $s.
The joys of trying to keep the lights running on 100+ year old structures.
laughs in state-subsidised university
I remember freshmen calling me to ask for donations before I had even landed a job.
Is not tipping your collage really a thing? I get why some very greedy people don't tip their landlord or boss, but collage?
Dear University,
Please ease up on tuition costs for the class of 2027, and all classes after that. You're addicted to bankrupt-proof government backed tuition loans and it's time to seek professional help. Then we can talk about funding you guys out of the pockets of your alumni.
My college call me for offer PHD or some crap course (Yes, i am from Brazil and graduated in a underground institution)
You fucking spent it already?!
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this post was submitted on 17 Dec 2023
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