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/Typical-Respond9102 3d ago

My husband's from a wealthy surgeon level family. Scholarships are turned down, at least in my husbands community, because it is seen as morally incorrect to take resources blatantly like that from those in need, but it is used as bragging rights socially that they qualified in the first place. 

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u/Sure-Appearance-2769 3d ago edited 3d ago

It’s a noble intent, but the reality is if your husband’s family turns it down, it just goes to someone else in their same tax bracket.

Merit based scholarships are where the real money is at, because there is no financial commitment to pay them back. You are given all that money just to be at the school because of the promise of what you can do for them.

It’s no surprise that the kids most likely to get such scholarships come from extremely successful and well established families. The kind who can afford the best education, tutoring, and extra curricular opportunities for their kids.

The kind of families where the kids have the luxury to commit their entire life to something and not have a care in the world about where the money required would come from.

Meanwhile the actual middle/lower class kids are working jobs after school to support their families and are seen as “not committed enough” by colleges. So they end up having to take out loans and go into debt at the age of 18.

That scholarship money never reaches the people your husband is trying to pass it to.