OPINION - Editorial

EDITORIAL: Donations welcomed

C ollege is getting more expensive. Student debt is a crisis. But free tuition (read: massive amounts of money from the taxpayer) isn't the answer. Part of the solution might come from those capitalists so maligned in political debates these days:

The Wall Street Journal reported last week that "Cornell University's medical school, Weill Cornell Medicine in New York City, announced a $160 million scholarship program to eliminate education debt for all of its students with financial need."

Guess where a chunk of that money came from?

"Major money for the scholarships came from the Starr Foundation, affiliated with former AIG CEO Hank Greenberg, as well as from Sanford Weill, the former Citigroup CEO."

Odd as it may sound, charity is kind of a free market. When folks of means are able to examine needs and choose where their help goes (usually a school, and usually involving a personal connection), they might give more than they would have paid in taxes for "universal college" or whatever Elizabeth Warren is calling it these days.

And in turn, when schools receive plenty of donations for scholarships, they also see an uptick in applications from students seeking that financial aid. It also makes the environment more competitive and forces schools to offer a better product.

Long story short, when candidates aren't too busy demonizing capitalists, they might learn a thing or two about how much good folks can do through private donations. There are more than enough other examples to be found in this state. And, we'd bet, in every other state from sea to shining sea.

Editorial on 09/21/2019

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