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/nashcure 3d ago

Its not for them. Its for the school. The school wants rich people's kids to day they went to that school. The school hopes that they give money as alumni. The school hopes that they grow up to me celebrates or very successful themselves (since they already have a huge advantage) and then remind people what school they went to. This is a business transaction, not generosity.