4 ms·
But who is going to pay off that $450 million ?
by dugluak 8y ago
But who is going to pay off that $450 million ?
- pastor_elm 8y agolaw students
- dugluak 8y agoNot sure about the down votes, I didn't mean to ask a rhetorical question. But someone has to pay if not students. Or is that not how it works in this case? Disclaimer: I couldn't read the whole article because I don't have a login to the website.
- scarface74 8y agoDonations. And if you don’t mind going through Facebook (no login required) https://www.fullwsj.com/articles/nyu-offers-full-tuition-scholarships-for-all-medical-students-1534433082 https://www.fullwsj.com/articles/nyu-offers-full-tuition-sch... On a meta level. Can you really be accused of not RTFM if it’s behind a paywall - that doesn’t seem fair.
- alexives 8y agoWeird, still gives me a paywall through that link.
- blang 8y agoThe $450 Million was the amount of money they already raised through donations, it's nothing they have to pay back.
- imcoconut 8y agoAs another user commented, the total cost per year is around ~$34 million which is roughly 5% of the total $600 million they're looking to raise. That 600 million will be invested to target some annual return and as long as that return is expected to be a couple of percentage points over 5% (which is not an unreasonable expectation) then they should be able to more than cover the cost every year, without even touching the principal amount. Looks like they're raising the total amount via donations
- gmiller123456 8y agoThey're paid for through donations. The article has the names of various donors throughout, for this program and similar programs.