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A comment on Some Colleges Will Soon Charge $100k a Year. How Did This Happen?. Parent comment

Re:Some Colleges Will Soon Charge $100k a Year. How Did This... by diego_sandoval on Friday April 05, 2024 @10:03PM (#39949403)
> because most of that money gets stolen.

Huh? I'm out of the loop on this.

[ Parent | on HN ]
Re:Some Colleges Will Soon Charge $100k a Year. How Did This... by hypothesis on Friday April 05, 2024 @11:17PM (#39949699)
Not OP, but here is some data:

“We estimate that SBA disbursed over $200 billion in potentially fraudulent COVID-19 EIDLs, EIDL Targeted Advances, Supplemental Targeted Advances, and PPP loans. This means at least 17 percent of all COVID-19 EIDL and PPP funds were disbursed to potentially fraudulent actors.”

https://www.sba.gov/document/report-23-09-covid-19-pandemic-...

IRS also covered some:

https://www.irs.gov/newsroom/irs-criminal-investigation-rele...

[ Parent | on HN ]
Re:Some Colleges Will Soon Charge $100k a Year. How Did This... by chii on Saturday April 06, 2024 @12:38AM (#39950016)
a program administered with poor oversight (may be due to time constraints or whatever reason) doesn't make that program a poor policy decision.

I think means tested welfare can backfire a lot in ways that locks people into dependency on the welfare and not look for a higher paying job.

[ Parent | on HN ]