Billionaire Pays Off Student Loans

This is a good thing. Rich folks helping the poor...

Oprah just gave half a million to one of the old schools I use to work in( West Side High in Newark NJ) and believe me they need the money.

originally posted by: Edumakated

originally posted by: DanDanDat
What about the students who did what they could to graduate loan free? The reward for their hard work has just been negated by this inequitable act of charity.

I'm glad to see billionaires reinvesting in the community; doubly glad to see it within the black community.

But 40 million for a billionaire is a drop in the bucket; and the inequitable way he chose to be charitable smacks of publicity stunt.

Life isn't fair. No good deed goes unpunished.

Yeah, if someone were in the class of 2018, I'd be pretty annoyed, but it is what it is...

Another billionaire funded an endowment so that NYU Medical School is now tuition free. What about the doctor's that graduated with $250k in student loans?

There will always be someone left out....

I think it is good to see these guys stepping up to the plate. My only real criticism is that while such a gesture feels good, it doesn't actually fix the problem. The problem is schools charging so much in tuition and a predatory student loan system that allows these students to incur so much debt (not too mention the lack of personal responsibility of the student).

I believe that is the same sentiment I was trying to address. Sure life isn't fair and great for all the kids who got help and to bad for the kids sitting next to them that didn't... but the guy could have easily found a more equitable way to give bake to the community and the more equitable it is the higher the likelyhood that the action is solving the problem rather than just being a "feel good" action.

originally posted by: Willtell
This is a good thing. Rich folks helping the poor...

Oprah just gave half a million to one of the old schools I use to work in( West Side High in Newark NJ) and believe me they need the money.

Yeah, but all we hear from the left is income inequality. Leftist refuse to acknowledge the philanthropic efforts of the wealthy.

I've pointed this out numerous times. Universities, hospitals, museums, operas, parks, humane societies, and countless other charities are only possible because of wealthy benefactors who willingly share their wealth without government coercion through punitive taxes and wealth redistribution schemes.

originally posted by: DanDanDat

originally posted by: Edumakated

originally posted by: DanDanDat
What about the students who did what they could to graduate loan free? The reward for their hard work has just been negated by this inequitable act of charity.

I'm glad to see billionaires reinvesting in the community; doubly glad to see it within the black community.

But 40 million for a billionaire is a drop in the bucket; and the inequitable way he chose to be charitable smacks of publicity stunt.

Life isn't fair. No good deed goes unpunished.

Yeah, if someone were in the class of 2018, I'd be pretty annoyed, but it is what it is...

Another billionaire funded an endowment so that NYU Medical School is now tuition free. What about the doctor's that graduated with $250k in student loans?

There will always be someone left out....

I think it is good to see these guys stepping up to the plate. My only real criticism is that while such a gesture feels good, it doesn't actually fix the problem. The problem is schools charging so much in tuition and a predatory student loan system that allows these students to incur so much debt (not too mention the lack of personal responsibility of the student).

I believe that is the same sentiment I was trying to address. Sure life isn't fair and great for all the kids who got help and to bad for the kids sitting next to them that didn't... but the guy could have easily found a more equitable way to give bake to the community and the more equitable it is the higher the likelyhood that the action is solving the problem rather than just being a "feel good" action.

Yeah, but the problem is too large for him to solve by himself. He can see real results by simply saying, I am paying off these 400 student loans. If he gives the money to the college like any other donation, it will just go into a black hole and by the time the administrators have their way, I'd bet less than half that money actually gets to the students. It is the same issue when we depend on government to be charitable instead of just doing it ourselves.

a reply to: Edumakated

What this guy did is incredible. I always find it funny that people try to put a negative spin on stuff
like this.

Anyone that finds negative in this needs to re-evaluate their life.

originally posted by: JAGStorm
a reply to: Edumakated

What this guy did is incredible. I always find it funny that people try to put a negative spin on stuff
like this.

Anyone that finds negative in this needs to re-evaluate their life.

IDK, it's surly a very kind thing to do, and his call on how he gifts his money...but kind of a bummer for the students that had gotten through school without debt. There were 400 graduates in the class of 2019, his gift of 40 million could have given each graduate 10k each to pay off debt. , seed money to start a business, down payment on a home, etc. , rather then a windfall for the predatory student loan system.

Well that certainly was nice of him.

originally posted by: MountainLaurel

originally posted by: JAGStorm
a reply to: Edumakated

What this guy did is incredible. I always find it funny that people try to put a negative spin on stuff
like this.

Anyone that finds negative in this needs to re-evaluate their life.

IDK, it's surly a very kind thing to do, and his call on how he gifts his money...but kind of a bummer for the students that had gotten through school without debt. There were 400 graduates in the class of 2019, his gift of 40 million could have given each graduate 10k each to pay off debt. , seed money to start a business, down payment on a home, etc. , rather then a windfall for the predatory student loan system.

I went through school and didn't have any debt. (I paid for it all and had scholarships) I would not for one second be mad or expect anything if I were a student at that school. I've seen similar stories on a smaller scale. Rich guy pays off all overdue lunch accounts. Should the parents with the paid lunch accounts be mad? No not at all. Everyone should be happy that a generous person is willing to share with those in need.


In the end, we are not asking the right questions. It's not about the students, or this guy. The question we should be asking is why anyone ends up with so much debt in the first place. Something is really wrong. This is a nice gesture and will help a few, but overall we had a dire problem that is ready to collapse.

a reply to: JAGStorm

Yeah, I hear you and agree, so many students starting out their lives in debt. is a Big problem ! Basically the government is subsidizing Universities with predatory loans that too often aren't worth the debt. when the grads can't get jobs that allow them to pay off these loans for years, even decades !

Again, not my money, not my call and it was very generous of this Man to bestow such a blessing on the kids that got their loans paid off.

I am really not surprised that ATS is trying to figure out a way to make this negative. Very successful black man helps out those in need. But most of them are black.

Seriously, give the man and the students some credit. He can do whatever he wants with his money. Even if it involves helping the black youth.

a reply to: Zanti Misfit

you wrote

Yeah , Great . When He Pays my Ex Wife's Alimony for the Next Upteen Years I MIGHT Be Impressed ...........

and then

Ah , Would that be Considered Tax Deductible

1. Why should someones good deeds and choice of where they spend their money include a handout for your responsibilities?

2. Even after a tax deduction they are still out of pocket - so whats the beef?

Culture of envy, much?

What I find extraordinary, as an outsider looking in, is the fact that in the US there are all-male and all-black institutions. Does this suggest all-white institutions too? No wonder there are so many race problems in the States when educational institutions segregate along race lines.

originally posted by: JAGStorm
a reply to: Edumakated

What this guy did is incredible. I always find it funny that people try to put a negative spin on stuff
like this.

Anyone that finds negative in this needs to re-evaluate their life.

Amen, my thoughts exactly.
Capitalism at this point in time appears to be a system that can work well except for the envy and greed it inevitably generates.
If the students that missed out could just be happy for their fellow humans good fortune rather than envious and jealous that they missed out I'm sure their positive outlook would see good fortune reward them in many ways aswell but unfortunately we are taught envy and selfishness from a young age.
Sadly it's become so rotten that even discussing the merits of goodwill is often met with derision and ridicule.