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Thank 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 co
by CrazyStat 7y ago
Thank 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.