Re: Details and the devil
chapAnjou
5/31/2012 1:13:11 PM
@mInvestor, well, sadly I'm nowhere near that point, so I'll be holding off as well. I'm closer to trying to tap the funds than dole them out haha.
Re: alumni involvement and understanding
chapAnjou
5/31/2012 1:11:17 PM
"I am as philanthropic as the next person but I prefer to give to organizations that I understand the dispersion of funds and the implications."
@impactnow, I agree but I also have to say that I appreciate the weird dichotomy going on here where you have the rich people involved in a venture with a grassroots vibe to it.
Re: Details and the devil
mInvestor
5/31/2012 12:52:01 PM
@cahpAnjou,
Yeah, it's too bad this is only for rich people.
Before I become an accredited investor, I won't spend too much time to look into this.
Re: alumni involvement and understanding
mInvestor
5/31/2012 12:50:06 PM
@impactnow,
The SoFi program is limited to accredited investors only. That means you can get more info only when you are qualified for it. Hehehe... a strange regulation from government.
alumni involvement and understanding
impactnow
5/30/2012 11:20:04 PM
I agree that it's a good option for those already wanting to contribute as an alumni but I would want to understand the value and risks of my investment in much more detail. I am as philanthropic as the next person but I prefer to give to organizations that I understand the dispersion of funds and the implications.
Re: Details and the devil
chapAnjou
5/30/2012 11:12:11 PM
@mInvestor, you bring up some very good points about the money involved here. The funny thing is I totally glossed over where they mentioned Stanford, so you're totally right about what kind of alumnis they'd be able to tap for investing.
It's also just nice to know that there are people out there with money that are putting towards something legitimately worthwhile.
Re: Student Loan industry is broken
chapAnjou
5/30/2012 11:09:34 PM
"Never mind that a particular student may have a richer, better future by spending their first year in -
- Semi-professional sports or
- Pursuing a career in acting or music or
- Traveling internationally or
- Starting a small business or
- Joining the military"
Reading this, it makes me feel like students should be encouraged to take a year off from school and do something else for a while. It's amazing how liberating it is to realize there's no more school and that you're able to focus your attention on something that's personally rewarding. It's this approach that led to me web programming - I honestly program in my free time (for money or for fun) because I genuinely love it and not because a curriculum is forcing it down my throat.
Re: Student Loan industry is broken
chapAnjou
5/30/2012 11:05:32 PM
"Most High School counselors are focused on increasing the % of graduates that go on to college. This is viewed as a measure of success for their high school."
@PredictableChaos, there's the problem right there! As someone who took a very non-traditional path to a college degree, I can honestly say that this broken system is why something like SoFi is both a breath of fresh air and a sign that something is seriously wrong.
This is why I said earlier that I think high schools should teach about options in life post-high school that don't necessarily involve college. I went to college because it was the logical next step and all I have to show for my initial attempt is a waste of $5000...and that's absolutely nothing compared to what it could have been (and eventually became with attempt #2, sigh)
Re: Details and the devil
mInvestor
5/30/2012 10:16:36 PM
The program is limited to accredited investors, that is a million dollar requirement. So the investment probably won't be just $100. And from the post, 40 investors loan moeny to support 100 students. That means significant money. So I guess it's not easy to use this program to replace donation program. And not many people can actaully invest in this program. No wonder SoFi started from Stanford business school. You will find more almini there to be able to invest in this kind of program.
Still I think this is a great idea to help students in needs and may provide some ROI for lenders.
@ChapAnjou,
Most High School counselors are focused on increasing the % of graduates that go on to college. This is viewed as a measure of success for their high school.
Never mind that a particular student may have a richer, better future by spending their first year in -
- Semi-professional sports or
- Pursuing a career in acting or music or
- Traveling internationally or
- Starting a small business or
- Joining the military
All of these options will be discouraged by most HS counselors, who just want everyone to start at a college.
The blogs and comments posted on Investor Uprising do not reflect the views of Investor Uprising, PRNewswire, or its sponsors. Investor Uprising, PRNewswire, and its sponsors do not assume responsibility for any comments, claims, or opinions made by authors and bloggers. They are no substitute for your own research and should not be relied upon for trading or any other purpose.
Tweet This