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A comment on Undergraduates with family income below $200k will be tuition-free at MIT. Parent comment

Re:Undergraduates with family income below $200k will be tui... by adastra22 on Wednesday November 20, 2024 @08:54PM (#42200269)
If this was inventory they were counting, sure. But you can’t sell part of a small business. Let’s say the parents own a restaurant, and the value of the land, building, and kitchen equipment is a few million. Do they sell an oven from the kitchen to put you through school? Sell the parking lot?

It’s an all or nothing thing. The business needs all its assets to function, and shouldn’t be considered any more than for its income potential.

[ Parent | on HN ]
Re:Undergraduates with family income below $200k will be tui... by throwaway2037 on Wednesday November 20, 2024 @11:01PM (#42200964)
Lease back for land and building is definitely possible. Most capital efficient corps do not own their own land and buildings for precisely this reason.
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Re:Undergraduates with family income below $200k will be tui... by adastra22 on Thursday November 21, 2024 @01:26AM (#42201670)
It is sometimes an option, not always. Depends on the cash flow of the business and current market risks. Not every business is automatically eligible. Small mom and pop restaurants often can’t get a loan on demand, at least not on predatory terms.
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Re:Undergraduates with family income below $200k will be tui... by jorvi on Saturday November 23, 2024 @12:07AM (#42219304)
Situation:

You have parents A, B and C.

- Parents A own a small business.

- Parents B sold their small business two years ago, and put the money in the stock market.

- Parents C just scrimped and scraped and over the years saved up money equal to parents A and B.

I’m not sure why you’re so hellbent on giving specifically parents A a free pass. Why the unequal treatment?

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Re:Undergraduates with family income below $200k will be tui... by s1artibartfast on Saturday November 23, 2024 @12:08PM (#42221948)
Thanks for explaining this much more clearly than I did.
[ Parent | on HN ]