of Cornell undergraduates took federal student loans to pay for their educations; the university itself says 41 percent graduate with debt, though that’s down from 54 percent in 2007.This is happening in part because, pressed to admit more low-income students, the institutions “artificially understate the actual need that the students have and claim to meet it, while also claiming that if a student takes debt, that's because of poor choices,” Goldrick-Rab said.
She said money she made working over the summer went to food, transportation and paying off credit card debt. Then LaMotta got into Harvard. “That’s not an opportunity you’re going to pass up, no matter what the cost is,” he said. “I sort of out-performed my parents’ expectations for me.”Noah Willman for The Hechinger Report
The same holds true at Yale, spokesman Thomas Conroy said. “It’s up to the student if they wish to borrow to provide their contribution,” meaning the amount not covered by financial aid, Conroy said. While the university does not require a student receiving financial aid to work, he said, any shortfall “can be earned at a campus job that pays well above minimum wage and allows a student to work an average of eight hours a week.
But Croft didn’t get much financial aid — his parents make too much money to qualify as low-income because they own their own businesses, the school found, but Croft said the businesses produce only modest profits. His mother is an ultrasound technician and his father is a lineman for an electric company who owns a 100-acre farm and a small plane he rents out. Croft has borrowed $30,000 this academic year alone and expects to need still bigger loans next year.
. But children from lower-income families who graduate from these elite schools are still more likely than their classmates from higher-income families to default.LaMotta and Gonzales said their circumstances show how elite universities’ policies affect students beyond graduation.
Undeserving and unqualified students have been admitted by the thousands since 1965 when the affirmative action guidelines were imposed on colleges. Why isn't there an outrage over this form of priviledge? Affirmative Action took away more spots from qualified students
Nobody is saying all wealthy parents bribed the institutions for their children’s admissions. That’s just wrong. But these famous colleges have been exposed and they need to make corrections and protect their reputation.
Duh...?
Whoa no way ! I don’t believe it.
Degrees and GPA's have lost value.
Stick to your fake news your terrible at everything else you touch!!
Socioeconomic divide? Really? I along with 100's of millions of others who have been cast to the bottom of this 'divide' have a somewhat different perspective. From down here, money buys justice, education, political representation and the media's version of the American dream.
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This is not news people. Things were always this way. Class warfare is alive and well.
Anyone who takes on debt to get a degree in minority studies or women's studies obviously failed 1st grade math.
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