FBI unveils large-scale college admissions bribery scandal

FBI unveils large-scale college admissions bribery scandal - high-profile arrests made

JimEverett said
Is the value of their house the source of the parents being called wealthy? I didn;t read the article.

If so, that is a very poor way of doing it.

That was the reporter adding that with the data. That's not the consideration of the college.

One Chicago-area woman told The Wall Street Journal that she transferred guardianship of her then 17-year-old daughter to her business partner last year. While her household income is greater than $250,000 a year, she said, she and her husband have spent about $600,000 putting several older children through college and have no equity in their home, which is valued at about $1.2 million, according to the property website Zillow. She said she has little cash on hand and little saved for her daughter’s education.

,.......

Today, her daughter attends a private college on the West Coast which costs $65,000 in annual tuition, she said. The daughter received a $27,000 merit scholarship and an additional $20,000 in need-based aid, including a federal Pell grant, which she won’t have to pay back. The daughter is responsible for $18,000 a year, which her grandparents pay, the woman said.

We can view this a few ways.

1. The only complaint is essentially defrauding (legally.. ish) federal and state "need-based" aid. $20k in need based aid (including the Pell grant, likely the full $5775). Then the rest her grandparents are paying.
1. So, she took $5775 from the federal government she really shouldn't qualify for, potentially preventing another student the ability to attend a school. That amount usually covers community college tuition and books pretty easily.
2. The other $14-15k in need based aid was definitely stolen from another student either from that college or that state. Those funds are definitely limited. That could be preventing a lower income or middle class income student from attending college (or that college) and transforming their economic lives compared to their family.
3. Federal Pell Grants are supposed to only go to families with under $50k/year income. But most go to people with under $20k. The idea is to really help people who are out on their own, later in life, transform their lives from a non-degreed worker to a degreed worker (or a trade school), as well as those from poorer families.
Did that family have to put their kids through private college out on the west coast? What's wrong with a State school? University of Illinois is a good school. What's wrong with an instate private school? University of Illinois tuition is one third that of the private school ($16-21k). And if you include room and board and fees, is still about half ($30k-$36k).
1. Often, you @JimEverett , have specifically talked about how we buy too much. Spend too much. Houses are too big. Well, this is an example. Why did they send all of their kids to private schools away from home, out of state? Seems like the most expensive approach.
2. Personally, I have flat out told my son, he's staying in state. If he has any out of state options, he's going to need a full ride, or enough scholarship aid, to not have the "out of pocket / loan" cost more than staying in state. He also will get the Florida Bright Futures scholarship, so staying in state helps him a lot.
3. Overall, it sounds like a wealthy family who has no idea how to budget and over spends, or are liars, telling a story to create sympathy for their 'plight'.

Now, these aren't necessarily 1% ers. But clearly, easily upper middle class to rich. But if they feel a squeeze on their dollars, then maybe they should make smarter choices with their money.

Why don't we use that argument against them, like we do with poor / poorer people with cell phones, internet and, God forbid, a car. (this isn't directed at you JE)