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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: bentway who wrote (45505)12/8/2005 1:43:33 AM
From: GraceZRead Replies (3) of 306849
 
Per capita is total income divided by the population. Stating the per capita doesn't imply that it is evenly distributed.

The median income for those who work is around 32k in the US for 2004. In other words, half the people who file an income tax return make 32k or more and half make less. Clearly those children coming from families where no one works, have significantly lower family incomes.

A contribution of $2000 a year for college is well within the means of most working families.

Back when I went to college, I was out on my own with no family support. This put me in the lowest income bracket, the bracket that a child coming from a home where no one works would be placed into today. My tuition at a private college and school supplies were completely covered by grants put together by the college from numerous sources.

My Alma Mater offers the same sweet deal to low income students today even though tuition is 7x what it was the year I went to school. They've managed to amass quite an endowment since I attended (mostly by hitting up their most successful alumni). My living expenses were covered by part time jobs, summer work and small student loans. Even though the tuition was so much higher at a private college (about double a state college), it worked out to be a cheaper deal for students like me than attending a public university because the college made such an effort to cover the tuition for low income students. They still do in an effort to bring diversity to their student body.
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