The Real Cost Of The College Admissions Scandal

News just broke that wealthy, famous parents, including actors, bribed colleges into accepting their children.

What’s the real cost of the college admissions scandal? The death of the nation.

I’m not a doom and gloom guy. In fact, I’m so optimistic that because of “pessimism bias” many people think I’m stupid.

I always think the economy is going to go up in the long run, for instance. I think any climate issues will go away or be solved. I eat GMOs like they are popcorn.

I can’t wait for the Alzheimer’s vaccine I’m going to take right after my first space tourism adventure.

I read books like “Factfulness” by Hans Rosling and “Enlightenment Now” by Steven Pinker just to keep getting confirmation that all my optimism is SMART. I’m SMART, damnit.

But… The beginning of the end:

Successful famous people are using money to buy their kids into college.

When second or third tier kids (i.e. less qualified) get high SAT scores and get into tier one colleges, what happens?

It’s not just about, “Get those rich people!” There’s a deeper societal impact that is scary.

The real first tier students (i.e. qualified but honest) have too much pressure on them to get high SAT scores and they can no longer get into the first tier colleges.

The first tier kids get into second or third tier colleges, and so on.

Because demand becomes artificially high and (with the best of intentions) student loans are backed by the government, tuitions go up. Why wouldn’t they? That’s Economics 101.

Unqualified but dishonest kids will marry other kids at their college and have rich, famous kids, passing on their mediocre genes.

And the real first tier kids will go to sub-par schools and get into higher debt.

Their potential will be funneled into debt payments rather than creating innovation.

Their kids will be held down by that debt and will end up in third tier or fourth tier schools as this trend continues.

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Angry Old Lady 3 months ago Member's comment

Well said.