2019 Morehouse College Graduates

GTBandman

GTBandman

Jolly Good Fellow
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151
So if someone actually worked hard and paid their own way without loans...? Happy for those getting out of debt and hooray for the donor stepping up.
 

TheSilasSonRising

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3,729
Any tax consequences for either party?

Depends on how it is truly going to work? I thought I heard the gentleman use the phrase “setting up a foundation” that implied the that would be the managing source of his awesome gift.
 

Deleted member 2897

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TheSilasSonRising said:
Any tax consequences for either party?

Depends on how it is truly going to work? I thought I heard the gentleman use the phrase “setting up a foundation” that implied the that would be the managing source of his awesome gift.
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Their are limits to how much of a gift someone can give you before it’s taxable. But my guess is the government will just look the other way.
 
LibertyTurns

LibertyTurns

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bwelbo said:
Their are limits to how much of a gift someone can give you before it’s taxable. But my guess is the government will just look the other way.
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This may be the only thing that needs to be managed. I’m sure some slick tax lawyer can figure out a way around the taxes, however never underestimate the desire of the IRS to go collect a buck off someone when given the opportunity. Most of them would pry the last dollar out of their dying grandmother’s hand given the chance.
 

gtphd

Jolly Good Fellow
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333
Milwaukee said:
Virtually impossible to find anything negative with this gifting imo.
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What is wrong, here, is that this is an excellent opportunity to discuss the burden of student loans and the absurdity of the cost of modern colleges. The Morehouse president basically said he was pleased because the graduates could actually live the life they wanted rather than the life they had to live to pay back the loans. We should use this as an opportunity to discuss that in more detail.
 

Deleted member 2897

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gtphd said:
What is wrong, here, is that this is an excellent opportunity to discuss the burden of student loans and the absurdity of the cost of modern colleges. The Morehouse president basically said he was pleased because the graduates could actually live the life they wanted rather than the life they had to live to pay back the loans. We should use this as an opportunity to discuss that in more detail.
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The answer is not to go to that school if you can’t afford it. If you are of poor means, there are tons of financial help available. If you are working or middle class and can’t go for free, there are other schools and even technical/community colleges you can go to on the cheap.

You can make $70k/year as a dental hygienist on a 2 year community college degree. My wife has a GT engineering degree and went back to school for a 2 year associates degree in nursing. The entire degree cost $6k and she got a job immediately paying $60k/year.
 

gtphd

Jolly Good Fellow
Messages
333
Look at it another way: it costs $50,000 per year to go to Harvard. Nearly $40,000 per year to go to Morehouse. But it’s only $12,000 per year to go to Cambridge or Oxford. $10,000 per year to go to LSE. The cost of an education is not necessarily correlated with the quality of that education.
 

Skeptic

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6,372
bwelbo said:
The answer is not to go to that school if you can’t afford it. If you are of poor means, there are tons of financial help available. If you are working or middle class and can’t go for free, there are other schools and even technical/community colleges you can go to on the cheap.

You can make $70k/year as a dental hygienist on a 2 year community college degree. My wife has a GT engineering degree and went back to school for a 2 year associates degree in nursing. The entire degree cost $6k and she got a job immediately paying $60k/year.
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In today's world it is often not those of "poor means" who need help with college. It is the middle class. Or what is left of it.
 

MWBATL

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College tuition is a huge scam. Academics should be absurdly embarrassed by the hypocrisy of what they charge vs what they offer to young people, especially with their liberal mindset. But somehow, it's OK as long as they get theirs.
 

Deleted member 2897

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MWBATL said:
College tuition is a huge scam. Academics should be absurdly embarrassed by the hypocrisy of what they charge vs what they offer to young people, especially with their liberal mindset. But somehow, it's OK as long as they get theirs.
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Politics aside, how can you blame them? College loans are backed by the federal government with payback capped at a percentage of income. So if someone can’t pay the loan back, the government will back it up. As long as they can hit their enrollment targets, why shouldn’t they keep charging more? They are guaranteed by law to get their money.
 
LibertyTurns

LibertyTurns

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MWBATL said:
College tuition is a huge scam. Academics should be absurdly embarrassed by the hypocrisy of what they charge vs what they offer to young people, especially with their liberal mindset. But somehow, it's OK as long as they get theirs.
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Again another example where the federal Government has no business and they completely jacked it up. Clear fraud, waste and abuse. Instead of letting the free market decide, government interjected itself into college education & you ended up with inefficient systems, higher costs for lower value products & politicians plus their ilk lining their pockets with your money.
 

Skeptic

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MWBATL said:
College tuition is a huge scam. Academics should be absurdly embarrassed by the hypocrisy of what they charge vs what they offer to young people, especially with their liberal mindset. But somehow, it's OK as long as they get theirs.
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I gather then that in your world a conservative mindset is just hunky dory. Our university system, despite an all out and almost criminal assault in recent years, offers great educations for those who come to think and to learn, and the real absurdity and embarrassment should come from those who praise those coaching salaries, and contribute toward them, while targeting those who actually educate their little darlin's. We could talk about administration salaries, but why bother? The point is the professors, the actual teachers, get a pittance of the tuition charges.
 

Skeptic

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LibertyTurns said:
Again another example where the federal Government has no business and they completely jacked it up. Clear fraud, waste and abuse. Instead of letting the free market decide, government interjected itself into college education & you ended up with inefficient systems, higher costs for lower value products & politicians plus their ilk lining their pockets with your money.
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Free market as in Trump University and charter schools, one presumes.
 
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