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641 points gnabgib | 1 comments | | HN request time: 1.203s | source
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TheJoeMan ◴[] No.42197249[source]
This is a great step in the right direction. I can't speak directly for MIT, but there are issues with how these programs don't apply to parents with small family businesses. My parents had a small business, with my father taking home a salary of $XX,XXX. Duke University used the business assets to determine the EFC (expected family contribution) of literally 90% of the salary. Essentially saying to sell off the family business for the college fund, which was a non-starter.

Small businesses are allegedly the backbone of America, and I feel these tuition support programs overlook this segment of the middle-class.

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JumpCrisscross ◴[] No.42197538[source]
It’s incredibly difficult to structure these rules in a way that doesn’t discriminate against small businesses while not opening a giant loophole for the rich.
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dragonwriter ◴[] No.42198632[source]
The reason is because small business owners are often, by any measure that doesn’t explicitly discount ownership of the business, actually rich.
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potato3732842 ◴[] No.42199367[source]
How so? I know a guy who has literally millions of dollars tied up in shit that moves dirt and rocks and another mil tied up in some gravel pits.

The free cash he has, the house he lives in, the lifestyle he can afford is on par with "normal" white collar professionals (i.e. not people who get a bajillion monopoly bucks to implement linked list traversals for faang). He works 60hr weeks during construction season and has government agencies up his ass regularly (MHSA regulates him like he's running a pit mine, it's a huge f-ing farce). If you don't place insane value on being your own boss it's kind of a shitty life.

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1. krisoft ◴[] No.42202249[source]
> another mil tied up in some gravel pits

> MHSA regulates him like he's running a pit mine

Sounds like he does? As per your own comment.