You get "out of life what you put into it"... with a BIG SUBSIDY?
She turned $180 into $7 million!
- Thread starter peilthetraveler
- Start date
You get "out of life what you put into it"... with a BIG SUBSIDY?
They might turn it over to Looser Larry Summers to piss away on some CDS crap.
Quote from nazzdack:
1) Did she reinvest the dividends?
2) Did she sell any shares while she held them?
3) It's a good thing she bought ABT instead of GM.
4) She may have been "emotionally poisoned" by her childhood and never really enjoyed the fruit of that trade.
1. Yes
2. No
3. Yes, lol.
4. She lived in Lake Forest. The Tribune article said she lived frugally but still vacationed abroad, dined out etc. So yes, she knew she was loaded. It's not like she was retarded, lol
My grandmother, who was an active investor, owned 1000 shares of some $20 pos stock in the 1960's. The company was bought by GE and she received 1000 shares of GE in the swap. After numerous splits, by 2000 she owned 18,000 shares of GE which on it's high traded $60. Her GE stake was worth almost exactly 2mil. Unfortunately she didn't sell it until it traded into the low 30's. Even still it was 20k into a million from a stock she never directly purchased.
I see nothing wrong with giving a kid from a financially disadvantaged background a full ride if they've busted their ass in the classroom or on the field.
They absolutely deserve more than the schmuck who puts as much effort into studying as he does picking his nose.
Just because "all men are created equal," it does not mean they have to be treated equally.
Merit matters...
Generosity is one thing. Entitlement is another. Nobody is righteously ENTITLED to benefit from the efforts of others, regardless.
Last I checked Harvard had about 25 billion dollars in endowments. If they earned just 5% per year on those investments, it would be enough to pay all 20,000 students tuition for the year,plus have another $278 million to pay teachers, student services and whatever else.
Right now, Harvard collects about $900 million per year in tuitions.
Right now, Harvard collects about $900 million per year in tuitions.
Financial Aid
"Our goal in admissions and financial aid is clear: We want to bring the best people to Harvard, regardless of their ability to pay â and we do. About 70 percent of our students receive some form of aid, with nearly 60 percent receiving needâbased scholarships."
Removing Economic Barriers
In 2009â2010 we anticipate awarding close to $147 million in need-based scholarship assistance to our students. Our experienced staff are available yearâround to speak with families encountering financial difficulty. The Committee on Financial Aid meets regularly to consider appeals for award reconsiderations based on adverse changes in family financial circumstances.
Our most recent program enhancement, announced in December of 2007, has dramatically reduced the amount we expect families to contribute to the cost of their student's Harvard education. We no longer require students to take out loans, and parents of financial aid recipients are asked to contribute on average from zero to ten percent of their annual income, with no contribution expected for families with incomes of under $60,000. Those parents with annual incomes of between $120,000 and $180,000 are asked to contribute an average ten percent of their income, with a declining percentage â from ten to zero â for parents with annual incomes between $120,000 and $60,000.
Families with higher incomes facing unusual financial challenges may also qualify for needâbased scholarship assistance, yet those with significant assets at all income levels are asked to contribute proportionately more. Home equity is no longer considered in our assessment of an expected parent contribution.
http://www.admissions.college.harvard.edu/financial_aid/index.html
Ok...so 20k students x $48,600 tuition = $972 million dollars. Subtract $147 million and Harvard is still getting $825 million per year.
So 70% of the students get an average of about $10,500 dollars to go toward tuition meaning they still have to come up with the other $38,100.
So Harvard can afford to give EVERY student a free ride and have $131 million left over to pay teachers. So thats enough to pay 655 teachers 200k per year each (I dont know how many teachers are at harvard or how much they make, but its probably less) 655 teachers would be 1 teacher for every 30 students and I'm pretty sure the classes are more full than that.
So why does the richest school charge the most? To discourage the poorer smart kids from applying?