Rice University Says Middle-Class And Low-Income Students Won't Have To Pay

Re:Rice University Says Middle-Class And Low-Income Students... by Someguywhatever on Tuesday September 18, 2018 @05:08PM (#18019147)

Well you could make it a ratio of:

[your income]/[maxincome] * [MaxFinancialAid]

But then you would end up with situations where people can borrow $500 which is useless. So they just allow it up to 150k and then make it a hard cut off as they feel that anybody who makes that much should absolutely be able to pay, and the administration costs of loaning < 10k could be a waste of time lets say.

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Re:Rice University Says Middle-Class And Low-Income Students... by colordrops on Tuesday September 18, 2018 @05:44PM (#18019435)

But $500 is still a lot to a family who's margins are very tight. Or $2000 for a family that is closer to the threshold.

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Re:Rice University Says Middle-Class And Low-Income Students... by Someguywhatever on Wednesday September 19, 2018 @11:11AM (#18024698)

Nobody would administer a loan for $500 though, the juice isn't worth the squeeze for financial institutions

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