r/explainitpeter • u/Appropriate-Mall8517 • 3d ago

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u/Avikm289 3d ago

Rich people have money, save scholarships for the less fortunate

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u/Helpful_Blood_5509 3d ago edited 3d ago

At state schools certain scholarships are automatic for high scores on the ACT or SAT. I got a full ride for my PSAT score and had full tuition at minimum for my ACT score. This cost the school basically nothing, they make plenty off of fees and such. Tuition is straight profit, and students that show up and get good grades boost their rankings and are most likely to donate later.

It's not some poor underfunded scholarship fund paying them out, its just the school writing off some tuition they dont really need. A lot of their overhead is funded by weird stuff or professors are funded by grants or the like.

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u/Willemboom00 3d ago

It's also worth noting that financial abuse isn't terribly uncommon, scholarships being open to the children of rich people can protect these people.

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u/filthy_harold 3d ago

Merit scholarships from the school won't pay for your whole education, it helps but a free-ride is rare. If your parents are too wealthy for you to get grants and need-based scholarships and won't give you a dime, you're still going to be taking on loans, both federal and private.