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Rice University Says Middle-Class And Low-Income Students Won't Have To Pay Tuition (npr.org)
Rice University is "dramatically expanding" its financial aid offerings, promising full scholarships to undergrads whose families have income under $130,000. NPR reports: The school says it wants to reduce student debt -- and make it easier for students from low-income families to attend. "Talent deserves opportunity," Rice President David Leebron said while announcing the plan on Tuesday. The full scholarships are earmarked for students whose families have income between $65,000 and $130,000. Below that level, the university will not only cover tuition but also provide grants to cover students' room and board, along with any other fees. Another part of the program will help students whose family income surpasses the maximum: If their family's income is between $130,000 and $200,000, they can still get grants covering at least half of their tuition.
The trend lately is for colleges to set a ridiculously high price, then give "everyone" a discount. They're taking as much as they can from everyone. In what other field do companies get away with that? What a scam.
The trouble with socialism is that eventually you run out of other people's money
Rice University is a private institution, so this is charity, not "socialism".
They may have done a cost-benefit analysis and figured what they will lose on tuition, they will make up in endowment contributions from grateful future alumni who are earning and investing rather than trying to pay down debt.
If they can lower tuition, that means that did not have to raise it to meet ends. Then why did tuition raise in the first place?