How often have we heard it said, “It’s as plain as the nose on your face”. Your nose may be plain
but, stop and think for a moment, without a mirror, your nose is hard to see.
Free College Tuition is right there in front of our
collective noses but we can’t see it. In this Blog Posting I will explain this
Foolishness by improving your close up eyesight…Or will I?
***************
There is an equitable and practical solution to lowering the
high cost of College Tuition — especially at the most expensive and elite
schools.
Simply stated these colleges could lower their tuitions by
tapping into their Tax Deductible Massive Endowments.
Did I just hear some of my Dear Readers say, “Huh?” Hang on.
I said I would explain. Here goes…
The latest analysis at https://www.openthebooks.com has discovered (This is just a link to Open Books. It is not a link to this specific
analysis.)…
Ø The
25 colleges with the largest endowments in the nation pulled down 7 Billion
Dollars in Federal Student Aid last year. (Remember 7 Billion Dollars is
7,000 Million Dollars.)
ØThese universities hold 250 Thousand Million Dollars (aka: One Quarter of a Trillion Dollars) in existing assets, collectively.
Ø Notre
Dame, Princeton, Yale, Harvard and other elite schools like Duke and USC can’t
make a plausible argument for the need for billions of dollars annually in Federal
Student Aid when these schools’ bank accounts already hold Hundreds of Millions,
and in many cases, Billions of Dollars of funds.
Ø Without
any new gifts most, if not all, Ivy League Endowments could fund full-ride
scholarships for all financially needy undergraduate students for the
next half-century.
Ø With
continued new gifts, tuition could practically be free to students
forever without the endowments running dry.
The Bottom Line is that’s a lot of money sitting around
waiting for other money (Federal Money) to come lay next to it.
Would I kid u?
Smartfella
