<p>Beliavsky
"f a $31 billion dollar endowment earns 8% and avoids paying taxes at a 25% rate (choosing a rate between the long-term capital gains rate and the highest ordinary income tax rate), that amounts to a $620 mil annual benefit. Harvard’s other federal subsidies include tax-deductible donations from alumni, Pell grants, and federally guaranteed student loans.</p>
<p>If Harvard’s admissions policies are largely devoted to furthering Harvard’s power and prestige, rather than the national welfare, Federal subsidies on the order of $1 billion a year ought to be curtailed."</p>
<p>Agree, which is why I want more transparency in the admissions process and a more honest assessment of the criteria actually used. I do not think the processes at most top schools really are “holistic” as claimed by the top colleges – especially as more applicants flow in each year – but much more objective ala the Ivy Academic Index (but applied to separate groups of applicants) with a look at fit coming just at the end.</p>
<p>@muckdogs07 - what you’ve just highlighted is “the old boys network” You know, there is no requirement to be a degree’d lawyer to be a Supreme Court Justice, right?</p>
<p>@LF - being “analytical” to you means; to self deprive one of potential options by not taking chances?</p>
<p>I was somewhat joking. But without true ethicists to help determine the ends of our discoveries I do think we have problems. And those ethicists may not score 2400 on their SAT’s. Their sophisticated compasses may not reveal themselves to a testing matrix.</p>
<p>And how influential and powerful are our genius scientists? General Leslie Groves (I think I have the name right) managed to hide the fact that Germany was no longer trying to build a bomb from the Manhattan Project scientists.</p>
<p>I was joking about Einstein ( no tests for sense of humor), but I don’t understand why one kind if intelligence is so privileged over others.</p>
<p>And Einstein was a PITA to have around in many ways. That’s one reason he was a patent clerk and not a professor.</p>
<p>His brilliance relied on metaphor and imagining. There were folks with stronger math skills, though I’m sure he would have scored brilliantly on all standardized tests.</p>
<p>And I am not ashamed of suggesting that a nuclear world might not be a good thing. </p>
<p>Of course, after MarievCurie it was really all over.</p>
<p>Yes, muckdogs07, an elite school pedigree seems to be de rigueur for someone who wants a shot at one of the NINE positions on the highest court in the land. Many people have had satisfying, productive legal careers without scaling this lofty peak.</p>
<p>What David Brooks, one of my favorite columnists/writers, says in his book, “The Social Animal”, page 4, might be of relevance.</p>
<p>“Like most upper- and upper-middle-class children, these kids are really good at obscure sports. Centuries ago, members of the educated class discovered that they could no longer compete in football, baseball, and basketball, so they stole lacrosse from the American Indians to give them something to dominate.”</p>
<p>I’m pretty sure that a scientist of Einstein’s caliber would have started research in high school and would have a particular mentor in mind to work with. The Val and sal of my son’s class went to Stony Brook to continue work in physics they’d already begun. Both have fathers who are physicists at Brookhaven National Labs who save no reason to send their kids( one daughter, one son) anywhere else. The honors college was a free ride.</p>
<p>Lower down the pecking order were kids who went to Princeton, Cornell, Haverford, Williams, Chapel Hill. And many other kids went there too. Oh yeah, two went to Princeton. One lived it; one hated it.</p>
<p>Fun fact: James Bryant Conant, Harvard University President from 1933 - 1953. Involved in founding the Educational Testing Service, the United Nations, AND the Manhattan Project:</p>
<p>Hold on! I think Quant should interview for new workers in his field. Adcoms revew for college admissions, not job hires. College.</p>
<p>Are you seriously saying that we would be better off if Einstein had not lived?
No, the comment was annoying student, PITA. </p>
<p>Git- what chances? You planning to try out for the Olympics because…if you don’t, you won’t know? You applying for Microsoft job or a CEO position because, maaaybe… Or, you do your homework, assess your shot? </p>
<p>It’s worse. Bright kids defeating themselves because they can’t pull together a good app. Not rocket science. If they can’t interpret what is out there- and can’t seek advice from savvy adults- what does that say about them? That they are entitled to an interpreter to…go to one of the top schools? It doesn’t make sense.</p>
<p>These are not subsidies, they are tax breaks.</p>
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<p>In other words, you are saying that H ought to be taxed at a higher rate (your “subsidy” argument works only if you start with the premise that all of H’s money belongs to the govt, who gets to decide how much of it H can keep), and H should not be allowed to accept Pell grants or govt loans. The latter would leave the poor kids at the mercy of H’s generosity even more than they are now.</p>
<p>Interesting to whom? How do we know that what is interesting to one or two admissions officers reading an application will be interesting to college classmates or professors looking for research assistants? I understand that college students can contribute in ways not measured by grades. I participated in memorable events in college that would not have existed without a talented student fundraiser and organizer. But have colleges ever tried to identify which students have contributed the most to campus life and correlate those contributions to their personal ratings on college applications?</p>
<p>I read a book years ago, that argued that all of our important discoveries/inventions would have been discovered/invented anyway, if the credited person had never existed. (Like most things, I can’t remember what the book was called anymore. ;)) The argument being that mankind was on the verge of finding/inventing all those things at the time, and we recognize the one person who happened to be the first to do it. That makes sense to me.</p>
For one percent of Harvard’s endowment per year or less, Harvard could be free for all undergraduates.</p>
<p>Is it unreasonable for a non-profit the benefits from hundred of millions if not billions in tax breaks and direct subsidies (how much gov’t money does Harvard get for research every year?) to spend at least 1% of their endowment every year on the purpose for which they receive non-profit status?</p>
<p>Omg, Bel, why not interesting to adcoms instead of interesting to you? Adcoms are far more savvy than you give them credit for. Yes, adcoms constantly evaluate what sorts of kids fit and thrive, are engaged beyond the classroom, tend to have vision, etc. They are engaged in near-constant dialogue. I wish people could get past the notion they are merely gatekeepers.</p>
<p>Btw, is the 8% growth figre for H based on some source? Where I am, it is far more than 8%. At the values of their total endowments, these guys get primo advisors.</p>
<p>add: Crimson 9/2012: Last year, Harvard’s endowment grew by 21.4 percent to $32 billion. Over the past 20 years, the Harvard’s average annual endowment return has averaged 12.3 percent.</p>
<p>it just seems, from wanting all bright kids to get in, we’ve moved to “and it should be explained how they can get in” and now, “and go fo free.”</p>
<p>For the love of God. There is no quantifiable measure of what constitutes the greatest contribution to campus life. LIFE IS SUBJECTIVE. Get over it.</p>
<p>What is the actual difference between being given a tax break that lowers your taxes by $500 million, and paying the tax but getting $500 million back as a payment from the gov’t? Zero as for as I can see.
I think that every non-profit should be required to show that they are spending some percentage of their income and endowment on the recipients of the services of the non-profit.</p>