Re:Why I’m Giving $1.8B for College Financial Aid
by Gustomaximus on Sunday November 18, 2018 @08:21PM
(#18483558)
Thats 36k people for a year....
Also you probably need to factor in living allowance if supporting underprivileged and once you give a scholarship you're looking at a 3-6 year commitment to that person.
Plus if you want the scholarships to run in perpetuity you can only spend at a rate that keeps the endowment at certain payout rate that does not reduce its value + inflation
So at say 6% being spent a year, divided by $80k to cover tuition and living cost, average 4 year course commitment your looking at 338 new scholarships a year.
Also you probably need to factor in living allowance if supporting underprivileged and once you give a scholarship you're looking at a 3-6 year commitment to that person.
Plus if you want the scholarships to run in perpetuity you can only spend at a rate that keeps the endowment at certain payout rate that does not reduce its value + inflation
So at say 6% being spent a year, divided by $80k to cover tuition and living cost, average 4 year course commitment your looking at 338 new scholarships a year.
That whittles down fast doesn't it....