Wealthy Families and Scholarships

[tacoben]

Saw this article today and it seems related to players/parents whose goal is to get an athletic scholarship. The questions posed in the article is, should wealthy kids get scholarhips? Please chime in with your thoughts.

http://blog.sfgate.com/sfmoms/2012/0...arships/?tsp=1

[floridatennisdude]

I think that UCLA just got a pretty major booster

[bluetrain4]

I don't see why not. Scholarships do serve a purpose of helping a kid pay for his educaiton, but they also serve the purpose of attracting a player to a school, thereby, in theroy, increasing that school's chances at success. A kid doesn't have to take a scholarship, and there have been wealthy families who have foregone scholarships because they wanted to give someone else that opportunity. This probably isn't at all the norm, but it happens.

And, how would you determine what "wealth" qualifies and what doesn't? Simply AGI on tax returns? Other assets? Do we consider how many children a wealthy family has. Do we consider that though some people may have a good income and are "wealthy" on paper, they may have high debt or other liabilities. There's a lot to consider.

[floridatennisdude]

Originally Posted by bluetrain4

I don't see why not. Scholarships do serve a purpose of helping a kid pay for his educaiton, but they also serve the purpose of attracting a player to a school, thereby, in theroy, increasing that school's chances at success. A kid doesn't have to take a scholarship, and there have been wealthy families who have foregone scholarships because they wanted to give someone else that opportunity. This probably isn't at all the norm, but it happens.

And, how would you determine what "wealth" qualifies and what doesn't? Simply AGI on tax returns? Other assets? Do we consider how many children a wealthy family has. Do we consider that though some people may have a good income and are "wealthy" on paper, they may have high debt or other liabilities. There's a lot to consider.

Definition of wealth: You received this car for your 16th birthday...

[Staidhup]

This is a good question, however, are we talking about the sacrifice a child made or that of his or her parents financial acumen? Who are we measuring here, and how can one draw a line between the two so that hard work is rewarded? From a broader perspective, then is it not right to conclude, based on the slant of this article, because a child comes from an accomplished family that child should not be granted a job based on the accomplishments of one's family and financial need? One can not buy an athletic scholarship, it takes talent, dedication, hard work, hart, and sacrifice. Having seen children from wealthy families live on the courts and hear their family members talk about potential professional carriers and college scholarships is some what amusing because the grind and sacrifice required comes from within, not one's bank account, and we all know money doesn't buy hart.

[bluetrain4]

Originally Posted by floridatennisdude

Definition of wealth: You received this car for your 16th birthday...

LOL. I received a car for my 16th birthday. A used 4-speed manual Honda Civic hatchback, purchased for $800 from a friend of my fahter's. One panel on the exterior was clearly painted with spray paint in a different color than the rest of the car. Floor on the passenger's side was starting to rust out as was most of the exhuast system. It lasted about eight months before all sorts of not-worth-fixing-it problems set in. But, what an eight months! I had my own car and all the freedom that entailed. An absolute disaster of a car, and absolutely one of my favorites.

But, I get your point. If you're getting a new, luxury car (like a Maybach) for your 16th, maybe your family can afford to let someone else take the scholarship.

[duusoo]

Well, you can't choose your family. We live in America and if they are rich, well, you've won the genetic lottery. At OSU, it was sort of understood that if you had big bucks you turned it down for others that may need it more. My understanding was this sort cam from the golf team, as I recall hearing that Jack Nicklaus came from a wealthy family, and turned down a scholarship. Sort of set the tone in sports like golf and tennis, that gets around and sticks.

[10ismom]

Originally Posted by floridatennisdude

I think that UCLA just got a pretty major booster

I agree with FTD. Small fish attracts bigger fish here.

If the kid worked hard, he should be rewarded as what another kid would. Being born to a wealthy family is not by choice.This is not a financial aid issue. It is by merit/athletic achievement, something to be proud of.

Once awarded the scholarship, he might decline, by his choice, parents' persuation, or public critique.
It is almost 100% guaranteed the family in this type scenerio will make generous $$$ contribution to the school.

[goran_ace]

"This isn’t financial aid. It’s not a needs-based scholarship; it’s a merit-based one."

My sentiments exactly.

[Misterbill]

Sometimes it's not about "me" or "my family" or "my merit". It's about the team.

Take Raph Rhymes, for example. He is the SEC baseball player of the year, as a junior, for LSU. Hitting .469 after hovering over .500 for a good part of the season. Voluntarily gave up his scholy so the team could go out and recruit another player.

Great story. You can read about it here:

http://www.nola.com/lsu/index.ssf/20...mainie_16.html

[Bartelby]

Scholarships give money to people who have already accumulated knowledge through the familial environment and sanctify this bestowal with the holy water of a merit-based scholarship.

[floridatennisdude]

Originally Posted by goran_ace

"This isn’t financial aid. It’s not a needs-based scholarship; it’s a merit-based one."

My sentiments exactly.

100% true.

But, how is he going to be treated by the walk on from a lower class family with parents working multiple jobs? Would he just give the kid a ride home for Christmas break in his $360K car and feel like he did a good deed for the year? What about when the walk on sits above him on the depth chart?

Point of this conversation is...yes, he has the talent to earn the scholly along with a roster spot. Is it morally correct to take it when you clearly don't have a financial need for it? The roster spot is guaranteed, does a multi millionaire take the free money or let someone less fortunate get it?

If I were a Bill Gates type...I'd have the kid take the roster spot & pay the tuition myself. That's just me.

[ClarkC]

Originally Posted by Bartelby

Scholarships give money to people who have already accumulated knowledge through the familial environment and sanctify this bestowal with the holy water of a merit-based scholarship.

The same could be said of paychecks. If you are feeling guilty and need to give away some paychecks, I have bills to pay and will gladly help alleviate your guilt.

[floridatennisdude]

Originally Posted by ClarkC

The same could be said of paychecks. If you are feeling guilty and need to give away some paychecks, I have bills to pay and will gladly help alleviate your guilt.

Apples to oranges when you are talking about someone like Sean Combs. He could donate a 2 week paycheck and not even notice. I could do the same and the bank would be wondering why I didn't pay my mortgage this month.

Median US Househould income 2010: 49,445
2010 Cencus: http://www.usatoday.com/news/nation/...ome/50383882/1

P-Diddy Estimated Net worth: 500 million plus
http://www.celebritynetworth.com/ric...ddy-net-worth/


P-Diddy trying to figure out why this one doesn't have any zeros after the 1

[tennisjon]

One huge difference between football and tennis is that most if not all starters on the team will have a full ride in football, but in tennis there are only 4 scholarships for men and that needs to be divided amongst the team.

[floridatennisdude]

http://gifrific.com/p-diddy-makes-it-rain/

Sorry, I can't stop myself from posting on this thread

[Staidhup]

UCLA is not going to waste a scholarship, they recruited this kid, wanted his talent, respected his work effort, so let his talent do the talking on the field. He has a tough road ahead, prove himself worthy each and every day, just as he had to do in high school. I think it is harder for a kid to come from a privileged soft life style and have to prove themselves each day than a kid from a broken home that has no other way out.

[treeman10]

$50k scholarship nets $10M "Diddy Digs" building in future. Good trade.

Besides sounds like he earned it. Better than clubbing it like a lot of celebrity $$$ kids.

[goober]

I actually happen to follow UCLA football recruiting. To tell you the truth he is probably a marginal candidate as a football talent. He was a 2 star recruit coming out of high school. UCLA has take 2 star recruits before, but I wonder how much his dad had an influence in schools recruiting him. I will be pleasantly surprised if he actually eventually makes the starting line up as CB given, there are a lot DBs recruited that have 3-5 star talent- especially in this year's recruiting class.

but I will give you that he is a much more legit recruit than Lil Romeo ever was for USC bball.

[floridatennisdude]

http://mightytideofjustice.com/2011/...ss-money-away/