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What is the likelihood that someone who requires this funding also has acquaintances with the ability to supply it?
by germinalphrase 7y ago
What is the likelihood that someone who requires this funding also has acquaintances with the ability to supply it?
- CrazyStat 7y agoThank you for pointing this out. "Just get a loan from your family/friends/acquaintances" is the modern rendition of "let them eat cake." I come from what I consider to be a comfortable middle-class background in the US (probably not what most people would consider upper-middle class), and there's no way I would have been able to raise tens of thousands of dollars a year from acquaintances to fund an elite education.
- wolfgke 7y agoI don't think so. A large number of small loans from family/friends/acquaintances also totals a decent amount of money.
- CrazyStat 7y agoPerhaps if I canvassed all my friends and their parents and all my parent's friends I might have raised 100 loans averaging $50 each. That's quite an optimistic estimate, I think. That gets me about 10% of the way to one year's tuition at an elite university. I don't know what your background is, maybe you consider $1000 a small loan, or maybe like the current president of the USA you consider $1000000 a small loan. Suffice it to say that your proposal is not at all realistic for many many many people.