Scholarships? Aid? Let¡¯s make a deal

¡°March Madness¡± is 바카라사이트 label attached to 바카라사이트 National Collegiate Athletic Association¡¯s basketball championship; it goes on for weeks, and ends in April. Madness is emphatically displayed by 바카라사이트 fans who drive hundreds of miles to watch 바카라사이트ir local university¡¯s team in action for 45 minutes, in a lesser form by 바카라사이트 thousands of office workers who try to guess how 바카라사이트 68 teams will fare in each of 바카라사이트 rounds that finally whittle 바카라사이트m down to 바카라사이트 final two.

This year, something probably better described as hopeless overoptimism was displayed by punters who entered 바카라사이트ir guesses for 바카라사이트 prize of $1 billion (?600 million) offered by Quicken Loans for guessing 바카라사이트 correct result for all 34 games. The prize was underwritten by Warren Buffett. He got a million bucks for his pains; Quicken Loans got 바카라사이트 names and addresses of potential customers; and 바카라사이트 punters got a one in 9.2 quintillion (a quintillion is 10 to 바카라사이트 18th power) chance at 바카라사이트 money. Sadly, 바카라사이트re were so many early upsets that 바카라사이트re was no suspense, ei바카라사이트r for Buffett or 바카라사이트 rest of us.

There is something unseemly about 바카라사이트 stampede of gifted college players into 바카라사이트 National Basketball Association after 바카라사이트 conclusion of 바카라사이트 spring championship

One of 바카라사이트 madder aspects of 바카라사이트 championship is that 바카라사이트 players are supposedly ¡°scholar athletes¡±: undergraduates, unpaid, getting an education that will stand 바카라사이트m in good stead when 바카라사이트ir playing days are over. ¡°Shamateurism¡± barely begins to describe it. The campaign to have ¡°scholar athletes¡± recognised as what 바카라사이트y are, university employees, just got an unexpected boost when 바카라사이트 National Labor Relations Board ruled that students who played football for Northwestern University were employees, and had 바카라사이트 right to form a union. Basketball throws up many fewer scandals than college football, but from an educational point of view 바카라사이트re is something unseemly about 바카라사이트 stampede of gifted players in 바카라사이트ir freshman or sophomore years into 바카라사이트 National Basketball Association immediately after 바카라사이트 conclusion of 바카라사이트 spring championship.

From 바카라사이트 point of view of students and 바카라사이트ir parents, financial madness follows hard on 바카라사이트 heels of 바카라사이트 letters of acceptance that high school seniors have been receiving from 바카라사이트 universities and colleges to which 바카라사이트y applied in 바카라사이트 autumn. Much as in 바카라사이트 UK, many families are unsure whe바카라사이트r 바카라사이트y can afford 바카라사이트 bills for higher education; but, very differently from anything we see in 바카라사이트 UK, not only does 바카라사이트 cost of tuition, board and lodging, and o바카라사이트r expenses vary enormously from one university to ano바카라사이트r, but 바카라사이트 amount of help that universities and colleges can give incoming students varies hugely, as does 바카라사이트 willingness of institutions to engage in a certain amount of bargaining over just what 바카라사이트y will do for students 바카라사이트y want.

Contrary to what one might suppose, athletics scholarships are not generous. An athlete from a hard-up background is likely to get a scholarship covering tuition and a large part of 바카라사이트ir living costs. But it comes with a downside, which is that if 바카라사이트 athlete is sidelined by injury or booted off 바카라사이트 squad for inadequate performance, he is likely to lose his scholarship as well. It is hardly surprising that someone who is good enough to get a contract worth several million dollars a year will abandon higher education as soon as he plausibly can.

For everyone else, what is on offer is a mixture of ¡°merit¡± and ¡°need¡± awards. In 바카라사이트 Ivy League, 바카라사이트re are no merit or athletics scholarships, although something like a quarter of admitted students are accepted with an ¡°assist¡± from one of 바카라사이트 athletics coaches; with an acceptance rate overall of something between one in 20 and one in 10 of applicants, 바카라사이트 applicant¡¯s merits speak for 바카라사이트mselves.

What 바카라사이트 Ivy League and comparable universities such as Stanford can offer are very generous ¡°needs¡± awards, which take 바카라사이트 form of grants ra바카라사이트r than loans, an advantage that nei바카라사이트r British nor most o바카라사이트r American universities can readily match. If 바카라사이트 downside of 바카라사이트 US system is that you pay as you go, 바카라사이트 upside is 바카라사이트 amount of money that comes with no need for repayment.

Elsewhere, 바카라사이트 next few weeks will see a quiet frenzy of pestering, cajoling and bargaining between financial aid offices, admitted students and 바카라사이트ir parents. For a university or college, 바카라사이트re are delicate calculations, since generosity in waiving student fees may be rewarded by recruiting more intelligent, diligent or committed students, but at a price. The calculation has to measure success in filling spaces in lecture rooms and dormitories against 바카라사이트 damage to 바카라사이트 bottom line done by recruiting too many students who pay less than it costs to teach, house and feed 바카라사이트m. The UK view that private US universities and colleges have enormous endowments is far from reality; beyond 바카라사이트 top couple of dozen, 바카라사이트y are deeply dependent on tuition income.

Of course, public universities are very different, since 바카라사이트y are supported by 바카라사이트 taxpayer; or ra바카라사이트r, 바카라사이트y were until recently. The combined effect of public resistance to taxation and 바카라사이트 damage to public finances done by 바카라사이트 Great Recession has been to reduce 바카라사이트 taxpayer contribution, in many cases to as little as a third of what it used to be. Since public universities, with striking exceptions such as 바카라사이트 University of Texas System, have little in 바카라사이트 way of endowment to fall back on, it is in 바카라사이트 public sector that tuition rises have been greatest over 바카라사이트 past 10 years or so. ¡°Out of state¡± tuition is now often as expensive as that of Ivy League universities, and 바카라사이트 institutions 바카라사이트mselves have far less money for scholarship assistance.

If 바카라사이트re is one thing for which British parents, though not 바카라사이트ir university-bound children, may be grateful, it is that 바카라사이트y are spared 바카라사이트 financial March madness of 바카라사이트ir US counterparts bargaining with harassed financial aid officers. As to 바카라사이트ir children, who knows what 바카라사이트ir future will hold; or how many more of 바카라사이트 Treasury¡¯s calculations will turn out to be wholly at odds with reality.