3 ms·

I'm quite confident JP Morgan would invest if they saw a bargin in a under-valued minority student. Banks want money and returns; they don't have time for casu

I'm quite confident JP Morgan would invest if they saw a bargin in a under-valued minority student. Banks want money and returns; they don't have time for casual racism.

rayiner 11y ago
Poor kids have a much higher risk of not finishing their degree, even adjusted for scores on aptitude tests: http://www.nytimes.com/2014/05/18/magazine/who-gets-to-graduate.html http://www.nytimes.com/2014/05/18/magazine/who-gets-to-gradu... ("Take students like Vanessa, who do moderately well on standardized tests — scoring between 1,000 and 1,200 out of 1,600 on the SAT. If those students come from families in the top-income quartile, they have a 2 in 3 chance of graduating with a four-year degree. If they come from families in the bottom quartile, they have just a 1 in 6 chance of making it to graduation.") A rational bank would charge much higher rates to a kid from a poor family than one from a rich one, and would be justified in doing so by the statistics. The question is: do we want to live in that kind of society?
- bpodgursky 11y ago
  Sure, they would probably charge higher rates. They may also provide other support to make sure the kid actually graduates, since they are invested in that happening. All I'm saying is, the parent post that "nobody will invest in minorities" doesn't really properly reflect the incentives.
  - deleted 11y ago
    [deleted]
  - TheCoelacanth 11y ago
    The problem is that using that system for financing education would directly promote existing class privilege. Children from wealthier families would have more opportunities for education than children from poorer families to an even greater extent than they already do. Personally, I would prefer a system that lessens the effects of class privilege rather than one that increases the effects of class privilege.

3 ms·

I'm quite confident JP Morgan would invest if they saw a bargin in a under-valued minority student. Banks want money and returns; they don't have time for casu

by bpodgursky 11y ago

I'm quite confident JP Morgan would invest if they saw a bargin in a under-valued minority student. Banks want money and returns; they don't have time for casual racism.

rayiner 11y ago
Poor kids have a much higher risk of not finishing their degree, even adjusted for scores on aptitude tests: http://www.nytimes.com/2014/05/18/magazine/who-gets-to-graduate.html http://www.nytimes.com/2014/05/18/magazine/who-gets-to-gradu... ("Take students like Vanessa, who do moderately well on standardized tests — scoring between 1,000 and 1,200 out of 1,600 on the SAT. If those students come from families in the top-income quartile, they have a 2 in 3 chance of graduating with a four-year degree. If they come from families in the bottom quartile, they have just a 1 in 6 chance of making it to graduation.") A rational bank would charge much higher rates to a kid from a poor family than one from a rich one, and would be justified in doing so by the statistics. The question is: do we want to live in that kind of society?
- bpodgursky 11y ago
  Sure, they would probably charge higher rates. They may also provide other support to make sure the kid actually graduates, since they are invested in that happening. All I'm saying is, the parent post that "nobody will invest in minorities" doesn't really properly reflect the incentives.
  - deleted 11y ago
    [deleted]
  - TheCoelacanth 11y ago
    The problem is that using that system for financing education would directly promote existing class privilege. Children from wealthier families would have more opportunities for education than children from poorer families to an even greater extent than they already do. Personally, I would prefer a system that lessens the effects of class privilege rather than one that increases the effects of class privilege.