A new model of education funding is emerging: “Harvard University has announced a major expansion of its financial aid program, stating that, beginning in the 2025-26 academic year, it will offer free tuition to students from families earning $200,000 or less annually.”
This is very commendable as education remains the best path for economic ascension. When the nation’s finest private universities become more affordable than states’ universities, opportunities open up for the nation’s best young people.
Harvard may be spending about $60 million on this yearly (the university accepts 2,000 students yearly at tuition of $60,000 on average yearly tuition per class. I model the worst case scenario percentage is 50% for financial support since most of those who could be accepted into Harvard are kids of rich parents, well over the $200k cut-off). It has to model that over 4 years to give $240 million.
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Similarly, YCombinator gives out $300 million to young people yearly to build the next future. YC gives each startup $500k and in the four cycles it now runs per year, you are looking at least 600 companies!
Good People, it is only in America. Check left and right, efficient tax policy plays a role here. When you donate in America, your tax positioning improves, and when you invest, they make things fun. In Africa, even when you are selling equities at a huge loss, you will still pay tax. In America, selling at a loss can help you reduce tax burdens where you made profits. We need to learn from the Yankees for us to activate these playbooks
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