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- 3/17/19 UPDATE -- We've updated the permissions for our "Football" and "Commit to the G" recruiting message boards. We aim to be the best free board out there and that has not changed. We do now ask that all of you good people register as a member of our forum in order to see the sugar that is falling from our skies, so to speak.
Comments
@GrayDawg there could be truth to all those points you made. I guess the way I view it is it wasn’t wasted because it’s going to help a ton of young men and women no matter his reasons. The world could stand for more acts of kindness
Forgive me if I feel my jaded opinions of billionaires are justified. Especially, when politics and money are involved.
Was this a "bad" use of his money? Certainly not. Could it have been used to do more good? Absolutely.
Where does it go from here? If this becomes the popular thing to do, will the political pressure then lead to government bail out of student loans for all? Are you supportive of that?
Time till tell if this is a "good" or "bad" use of money. If one of those grads makes an amazing discovery, it may be, in part, because he was "free" to do so w/o the problems of repaying a loan. If the billionaire gets a tax break from it, good for him. He's helped a good # of people with this.
Hypotheticals go both ways, but fair enough. It's obvious I'm the odd bird on this one. To each their own (which is the best part of America, btw).
This thread proves that someone will complain about just about anything. It was a good deed. He asked for it to be paid forward. Hopefully those kids will live their lives a little better because of the act. They didn't ask for it to be done.
None of these grads has to do anything extraordinary for this to be a value to society. Being able to start working life debt free will allow them to get ahead quicker and that will benefit society.
Just be productive citizens and make a contribution to the lives of others.
Not trying to be Debbie Downer or anything.....BUT, won’t the IRS consider this income? Meaning if one of these grads gets his/her $100K debt paid off, won’t he need to come up with about $33K cash by April 15, 2020. What if said student has a degree in art history? Might be hard to come up with that. Also what if you’re a member of the class of 2018 or 2020? What if your were supposed to graduate in 2019 but fell a few credits short cuz you had to work a semester to pay for school? Just luck of the draw?? What if one of these kids recklessly took out $200K loans for a degree like animal psychology and his debt is magically erased? What kind of life lessons learned here? I guess the devil is in the details.
Personally, if I were a billionaire that could afford to do this, I’d do it anonymously with safeguards to deal with all of the above. That would make it clear that it was all about the grads and not about the “giver”. And who will volunteer to give the commencement address in 2020? 😂
@clemtiger Again I ask you about your multiple accounts you have used. Just want a simple explanation. Nothing more. However the leash is getting short....
RedBlackDawg. There is value in making a presentation of a charitable gift, at least sometimes there is. When Ted Turner gave a huge amount of his wealth to charity he challenged other super-wealthy people to do likewise. It had a big affect, soon Bill Gates and others opened the purse to various causes.
Familiar with the Prodigal Son?
How would you like to be a parent who paid to put your kid thru school and somebody reimbursed everyone else and not you?
One person has over $200k in loans from a school with tuition amd fees of $30k year. He obviously didn’t work one bit to cover his costs of living while in school. Frankly, I am floored that people spend that much money to segregate themselves. When interviewed, the above individual said, “What I took away from this was to take care of black people.”
I’ve tried to find a list showing where the HBCU’s rank among all schools. Can’t find one but it can’t be any where near the top because I used to receive job applications from Spellman, Morehouse, and Clark Atlanta graduates for blue collar jobs requiring no college education, and it wasn’t just one or two. I would get gobs of them when I would list a position.
The average composite SAT score for Morehouse is 1058, with a 3.2 gpa. For comparison,Georgia State’s averages are 1054 and 3.43, and it costs a HELLUVA lot less money. Ga Southern’s is 1171 and Auburn is 1227. Only a dummy would borrow $200k to attend Morehouse, so I am thankful for the billionaires generosity because in all likelihood a significant percentage of these loans would have never been repaid.
Spelman only has 1 "L", and it ranks 51st out of all liberal arts colleges according to US news and world report. Morehouse is 143rd and there are over 500 liberal arts colleges in the US. Anywhere is also one word. How many men from Spelman sent you a job application for blue collar work?
I think that the idea of becoming a "Morehouse Man" carries a lot of weight with some/many people. It may be well worth it to them.
Well good for them. But what about the people that worked hard to keep down their debt while in school? Also, it's fine if people want to donate to this cause. What's not fine is voting to steal from me to help pay off others debt that they voluntarily accumulated. That's really not okay at all.