FTA: Students at elite colleges are even richer than experts realized, according to a new study based on millions of anonymous tax filings and tuition records. At 38 colleges in America, including five in the Ivy League – Dartmouth, Princeton, Yale, Penn and Brown – more students came from the top 1 percent of the income scale than from the entire bottom 60 percent.
In stark contrast, my institution, the University of Cincinnati, ranked #700, has <1% of its student body from the top 1% wealthiest families and >30% from the bottom 60%. But then we're a state research school.
https://www.nytimes.com/interactive/2017/01/18/upshot/some-colleges-have-more-students-from-the-top-1-percent-than-the-bottom-60.html?_r=0
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Ha! My school ranked #173, with almost a quarter from the bottom 60%.
ReplyDeleteLisa Chabot In this case, I'm not sure a higher ranking is better.
ReplyDeleteMIT propaganda in 1986 said they never turned away students for lack of finances. They lied. Accepted for electrical engineering; student aid, a big fat zero.
ReplyDeleteWell, they also used to turn away women because there wasn't dorm space, before McCormick Hall was built.
ReplyDeleteI got student aid, but we were also living below the poverty level at the time, and I've heard more middle income people that student aid was not available.
Terry Walker I was accepted to MIT in 1987 and got a $5000 (IIRC) scholarship to attend. That brought tuition down to ~$8,000, which was nearly four times the tuition at the state school I ultimately attended. I just couldn't justify asking my parents to spend that kind of money on my schooling. Truth be told, I'm glad I made the decision I did.
ReplyDeleteMy parents had no money, so the remainder I covered with loans.
ReplyDeleteAgreed. Going into life altering debt for school was a bad move then, and it's even worse now. Few people can expect an expensive training for a single career to actually last them a lifetime.
ReplyDeleteTerry Walker I would argue that anyone going to college fo "career training" doesn't understand what college is for. Unless it's a two-year vocational college...then that's exactly what it's for.
ReplyDelete#359
ReplyDeleteI'm pretty sure that's what most employers think it's for, since all experience necessary for a job must be acquired previously... on somebody else's dime.
ReplyDeleteTerry Walker Increasingly, employers seem to think this way, at least in industries that change fairly quickly:
ReplyDelete- Grades are an indication of how diligent a student is, not what he/she knows
- A degree is an indication that a student can stick with something over a (relatively) long period of time
- A major is a very loose proxy for the student's knowledge base; more an indication of the kind of job the student likely wants
- Work experience (e.g., co-ops and internships) is where they might have developed job-relevant skills
A more disgusting example of college-as-profit-center instead of as a learning center that invests in future general purpose thinkers and contributors to humanity.
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