MIT: If you're family earns less than 75k per annum, tuition is free

I have zero sympathy for rich Americans that will be screwed over by a global meritocracy.

I feel bad for ugly geeks that don't get the honor of exploiting their intelligence, simply because of lack of access.
 
Quote from Nattdog:

Yes, isn't it wonderful that the ability to pay is being removed as a criteria, and middle class families are now getting more of a free ride than they used to. The reality is the families that recieved prefered admissions historically, by their wealth and patronage, are the ones that built these elite institutions to what they are today. They are the reason for the outragous endowments and world class facilities. Now that they are no longer needed, the liberals are only two eager to begin turning their backs. After all, they must make room for the underqualified special needs candidates who will be lifted above their ability/class, and forever be resentful as a result.
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How are you coming to the conclusion that those qualifying for free or subsidized tuition are any less qualified to be admitted than others?

You seem to be assuming that. Why, I do not know.

Let the hungriest, most ambitious and sharpest people gain access to the best educational institutions, in the hope that they can save the Republic.

Don't let a financial litmus test (as in, not having a family able to afford exorbitant tuition costs) serve as a roadblock to the ideal of a meritocracy in the United States, which benefits all.
 
Quote from wutangfinancial:

I have zero sympathy for rich Americans that will be screwed over by a global meritocracy.

I feel bad for ugly geeks that don't get the honor of exploiting their intelligence, simply because of lack of access.
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agreed. its already bad enough they can't get laid.

:)
 
Quote from nitro:

Every computer sci graduate that I know can get a job in this country right out of college for $60k/year, India or no India. I get forty calls a day.

You can study the culinary art at NW and pay $50k/year for tuition, or you can study it at some specialized college and pay a fraction of that tuition. My point is not that studying cooking is a bad thing, only that there is no reason to do so at NW or Harvard or Stanford or Princeton...


nitro
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I agree with you there somewhat, but not totally. If the entire point of your education is education, then your point is 100% correct and valid. I think though that if you took a person who graduates first in his class with a degree in Finance from Iowa State University, and another who does the same from Wharton, I think that the guy from Wharton will have the edge in most cases. Not only will he likely have the edge in most cases, he will have a better Roladex with contacts that are likely to have more influence than the same student with the ISU Finance degree.
 
Quote from Brandonf:

I agree with you there somewhat, but not totally. If the entire point of your education is education, then your point is 100% correct and valid. I think though that if you took a person who graduates first in his class with a degree in Finance from Iowa State University, and another who does the same from Wharton, I think that the guy from Wharton will have the edge in most cases. Not only will he likely have the edge in most cases, he will have a better Roladex with contacts that are likely to have more influence than the same student with the ISU Finance degree.
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True.

I do believe in education for educations sake. It is something that no one can take away from you, ever.

But turn the situation upside down for a second, and look it at it from the other side. It is not so much the contacts that may be the value to find the opportunities. Imo it is the discipline that goes into getting into a school like that and maintaining a good grade that entices potential employers to offer killer opportunities to the young'un. It takes a work ethic that is a proven quantity to make it into the school and after. I wager though that lots of good candidates from okschool.edu get overlooked because they are not from a top school. Sad but true.

Throw any hard working kid into the CBOE or the CBOT or MERC, and assuming that he is sociable and hard working, eventually he makes the contacts because people are constantly on the lookout for disciplined talent to poach. I see it all the time.

The contacts you speak of are worth more if you want to do the hedge fund thing, imo...

If you are from Iowa, and you don't move to NYC or Chicago to trade and make those contacts, you made a bad decision, all other things being equal.

nitro
 
Is the IRS thinking about taxing this 'free' education?

IRS agent: Well Sally, you just received an education that other students paid $100,000 to get. That puts you in the highest tax bracket. You owe us $38,000.
 
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