would this be the great equalizer? for 10% of your net worth, you can send your kid to a 4 yr college if they are accepted
also, since most schools are non profit, any surplus revenue goes to the govt as an excise tax
I will gladly be paid $X,XXX to send my kids away in the future.
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Asian parents like to pay for their kids’ tuition and then live with them for life
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Yes, in a heartbeat. Considering my net worth is right now fairly limited to my home equity. I have 4 kids. If I could use 40% of that equity and not pay a dime more, it’d be something like an 80% discount vs. what I’m planning for.
The kid would just pay with his own ($0) net worth…
yeah thought of that. Gotta be some rule like if the kid was a dependent in the prior ten yrs
or if kids family net worth is > $1M or something, since no kid with a family with this much money is paying their own way
as an aside, super yachts should have an excise tax of 1.5% of net worth
and luxury mansions/apts 3%
and drop the income tax ftw
I like the way this wookiee thinks.
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the middle class strikes back!
I mean it depends on the college. I’m not paying 10% for local college man.
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yeah not sure how to resolve that one. maybe a tier structure? 10% for top tier colleges and 0.5% for community colleges?
Get rid of government loans imo, that way the schools will actually be on the hook for offering something that gives you actual bang for your buck.
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basically if ur net worth is like $100, you’ll have an incentive to send your kid to the best college possible
no need a loan since everyone can afford 10% of what they got
You might have to consider that elite colleges will simply reject poor people, but admit a handful to look good in their marketing materials. Well, they actually do that anyway but still…
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there will probably be more pressure for elite schools to be more transparent as this would probably increase dramatically the number of poor but qualified applicants