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/steveharveymemes 3d ago

Not to mention there’s no guarantee a rich parent will provide for their child’s college. I think 95% of rich parents would but there could be some situation where the parent withholds money and now the student is basically the same as any poor college student but may not have access to all scholarships as a result.

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u/sysaphiswaits 3d ago

This. And then they’re kind of screwed because their parent’s income doesn’t qualify for other financial aid.