University Endowments Tapped for Student Help?

Here's a thought for the college administrators - if you want to help the students get through the year without excessive costs, remember the 'Occupy Wall Street' and college loans that are in debate? Well, with billions in their endowments which only serves the few, why not tap into this reserve and help the many students that want to get a good education but can't afford the huge cost?

I have a great idea, why not tax the endowments and use the funds for student aid? We tax everything else, right?

Of course, this idea is tongue-in-cheek as most university administrations don't really care about what makes it easier for the students to get into school, only what the students can bring to the university in the form of more money for the staff and their supporters.

After Obama took over the student loan program, federalizing it, tuition went up which was the purpose of taking over the loans from the banks. It makes sense that now taxpayers will be footing the bill, not only for future generations but also pay for the past generations that have gone into debt and don't want to pay it back. That is, a supposedly bottomless pit of money to tap into for everyone that doesn't want to take responsibility for their own actions, OWS.

But wait, there is no money. The pit is empty! We're broke!!


Law Aims to Give More Accurate Tally of College Costs
Source: Brandon James Smith, "Law Aims to Give More Accurate Tally of College Costs," USA Today, October 21, 2011.

A new federal law kicks in October 29 that requires all college websites to have an online tool called a net price calculator, which is intended to help give students and families a more accurate estimate of real costs. Many universities have already launched them. University officials believe that this will help families with transparency in understanding the costs of attending college, says USA Today.

The net price calculator allows families to punch in their financial information to see the impact of their personal situation on costs. Some of the options parents can input include residence plans, how many other students the family has in college, and any scholarships or grants they've acquired.

The 2010 College Board survey reported tuition and fees at private, not-for-profit four-year colleges averaged $27,293, a number that does not include room and meals.
The survey showed that full-time students at those schools receive an average of more than $6,000 in grants that don't have to be repaid.

There are concerns among those monitoring the calculators. The non-profit Institute for College Access and Success, for example, identified problems, including calculators buried "in obscure parts of college websites" or requiring extensive information. Some admissions administrators say that the calculator can help but that it doesn't show precise costs, and that it is only an estimator.