Michael Bloomberg Donates $1.8 Billion to Johns Hopkins

[sanantone]

Michael Bloomberg's $1.8 billion donation to his alma mater, Johns Hopkins University, is intended to make the school need-blind by the next academic year. The money will be used to replace loans with scholarships in financial aid packages. Hopefully, these scholarships will he available to online students because most prestigious schools offer little to nothing to them. Non-traditional students tend to need this money the most and can't afford to quit their jobs and live on campus, even if the tuition is free.

If I had $1.8 billion to give, this is not how I would spend it because only a handful of low-income students would be helped at a highly-selective school. But, it's his money, and at least it's something.

https://www.nytimes.com/2018/11/18/opini...l-aid.html

[dfrecore]

He probably doesn't think much about low-income students because he wasn't one. This wouldn't be on my list either, because it doesn't resonate with me. Plenty of low-income kids can get grants, which middle-income kids don't qualify for.

If I had $1b to give to something, it would probably be at a school with a very high graduation rate. I want my money to go somewhere where it would be effective. I would probably also look to start a program to give money to non-trad students, since this is up my alley.

People choose things which mean something to them, in general.

[jsd]

He probably doesn't think much about low-income students because he wasn't one. 

I'm not sure I follow. Bloomberg, from the linked piece:

I am donating an additional $1.8 billion to Hopkins that will be used for financial aid for qualified low- and middle-income students.

[emphasis added]

[dfrecore]

He probably doesn't think much about low-income students because he wasn't one. 

I'm not sure I follow. Bloomberg, from the linked piece:

I am donating an additional $1.8 billion to Hopkins that will be used for financial aid for qualified low- and middle-income students.

[emphasis added]

I was just saying that it may not be his #1 top priority.  Everyone doesn't have to have the same priorities as me for them to be valid, in my opinion.

[sanantone]

He probably doesn't think much about low-income students because he wasn't one. 

I'm not sure I follow. Bloomberg, from the linked piece:

I am donating an additional $1.8 billion to Hopkins that will be used for financial aid for qualified low- and middle-income students.

[emphasis added]

I was just saying that it may not be his #1 top priority.  Everyone doesn't have to have the same priorities as me for them to be valid, in my opinion.

But, that is his main priority. The article explains that many low and middle-income kids don't apply to prestigious universities because they're too expensive. Some do apply and meet the qualifications, but they still can't go. A $6k Pell Grant doesn't even come close to covering the tuition at the top, private universities. Plus, low-income, college students, in general, graduate with the most debt.

[dfrecore]

He probably doesn't think much about low-income students because he wasn't one. 

I'm not sure I follow. Bloomberg, from the linked piece:

I am donating an additional $1.8 billion to Hopkins that will be used for financial aid for qualified low- and middle-income students.

[emphasis added]

I was just saying that it may not be his #1 top priority.  Everyone doesn't have to have the same priorities as me for them to be valid, in my opinion.

But, that is his main priority. The article explains that many low and middle-income kids don't apply to prestigious universities because they're too expensive. Some do apply and meet the qualifications, but they still can't go. A $6k Pell Grant doesn't even come close to covering the tuition at the top, private universities. Plus, low-income, college students, in general, graduate with the most debt.

I'm confused - you were saying that this grant wasn't applying to low-income kids, but he's making it possible for low- and middle-income kids to go to a prestigious university.  So which part don't you like?

My main thing was that he was giving money to his alma mater, which obviously resonates with him.  You seemed to be complaining that he should have given the money somewhere else, or to someone else, or...well, I'm not really sure.

[jsd]

I don't want to speak for sanantone, but I didn't read her initial comments as not liking the act; she was just saying that if it includes online students it would have an even greater impact for low/middle income folks.

[sanantone]

He probably doesn't think much about low-income students because he wasn't one. 

I'm not sure I follow. Bloomberg, from the linked piece:

I am donating an additional $1.8 billion to Hopkins that will be used for financial aid for qualified low- and middle-income students.

[emphasis added]

I was just saying that it may not be his #1 top priority.  Everyone doesn't have to have the same priorities as me for them to be valid, in my opinion.

But, that is his main priority. The article explains that many low and middle-income kids don't apply to prestigious universities because they're too expensive. Some do apply and meet the qualifications, but they still can't go. A $6k Pell Grant doesn't even come close to covering the tuition at the top, private universities. Plus, low-income, college students, in general, graduate with the most debt.

I'm confused - you were saying that this grant wasn't applying to low-income kids, but he's making it possible for low- and middle-income kids to go to a prestigious university.  So which part don't you like?

My main thing was that he was giving money to his alma mater, which obviously resonates with him.  You seemed to be complaining that he should have given the money somewhere else, or to someone else, or...well, I'm not really sure.

I don't want to speak for sanantone, but I didn't read her initial comments as not liking the act; she was just saying that if it includes online students it would have an even greater impact for low/middle income folks.

Yes, it would have a greater impact if it included online students. But, what I was also getting at is that Johns Hopkins will likely always have a low number of low-income students just like the other prestigious schools that are need-blind, and that tuition is not the only thing that makes college unaffordable for many. The money would be better spent if it were offered as a scholarship for all future students, regardless of which college they plan to attend, who fall under a certain income limit. I never said that the Johns Hopkins scholarships funded by Bloomberg won't be available to low-income students.

[Life Long Learning]

Can you imagine if the "Big 3" were given $1.8 billion to split?  They would 3,000% do more than John Hopkins to help the poor and middle class.

[dfrecore]

Can you imagine if the "Big 3" were given $1.8 billion to split?  They would 3,000% do more than John Hopkins to help the poor and middle class.

Only if there was something in place to make sure that happened.  They are just as capable of anyone of mishandling the money.  And I imagine they aren't going to help people get their degrees through our methods here...