(Former) Billionaire Chuck Feeney now only worth $2 million dollars...

[Playinghardball]

The world needs more people like this....

[exboyfil]

1. My daughter and I attended an international exchange

presentation at Iowa State this weekend. One of the presenters was a woman who attended the University of Limerick (a university Feeney changed dramatically with his gifts). She said she had a wonderful experience over there.

[awoke_in_2003]

4. ...

There once was a grad from U Limerick


I will think of how to complete this later

[Uben]

2. HE understands.....

....it's okay to make a lot of money if you don't hoard it. When that money is spent it stimulates the economy. One can only buy so many yachts, summer homes, etc. At somepoint the bulk of these uber-rich need to disperse the monies back into the economy, or our capitalist based economy will not work. The only alternative is to force it from them via taxation.

[Liberal_in_LA]

3. wonderful

[Egalitarian Thug]

5. Exactly. How much more does anyone need? n/t

[seveneyes]

6. That should be about 2 million students he has helped through college

Assuming an average of 30,000 dollars per student. That was very kind and good of him. We need more like him.

[FourScore]

10. $30,000 for college??? Um...no.

Annually maybe.

[seveneyes]

11. From nces.ed.gov

https://nces.ed.gov/fastfacts/display.asp?id=76

For the 2010–11 academic year, annual current dollar prices for undergraduate tuition, room, and board were estimated to be $13,600 at public institutions.

[FourScore]

12. Here's the whole quote, and these are annual costs from 3-4 years ago:

"For the 2010–11 academic year, annual current dollar prices for undergraduate tuition, room, and board were estimated to be $13,600 at public institutions, $36,300 at private not-for-profit institutions, and $23,500 at private for-profit institutions. Between 2000–01 and 2010–11, prices for undergraduate tuition, room, and board at public institutions rose 42 percent, and prices at private not-for-profit institutions rose 31 percent, after adjustment for inflation. The inflation-adjusted price for undergraduate tuition, room, and board at private for-profit institutions was 5 percent higher in 2010–11 than in 2000–01."

The chart is pretty interesting. You can see the steady rise.

If you think about it, Chuck Feeney's obviously been doing this for years, which means that your numbers are probably closer to the true estimate than mine.

I think in today's world, it is much harder to find a good 4-year university education for $30,000. Even the cheapest estimate of $13,300 over 4 years would equal $53,200. Then, of course, there are hidden costs...spend money, travel expenses, etc. Again, those are costs from 4 years ago.

One could say I am slightly obsessed with the cost of higher education right now because my oldest of 3 children will be going to college in about 2 years. Soon, we will be facing the cost of 3 kids in college and we are overwhelmed by the prospect. All we are hearing from our friends is how staggering the cost is.

Interesting link. Thanks for the info!

[Jenoch]

7. He certainly has done good with his fortune

However it does not address the problem of why higher education costs so much in the U.S.

[seattledo]

9. $6.3 billion could have done a lot of good fixing the problems...

instead of just giving it indirectly to the people that created the problem.

[BrotherIvan]

13. Yes

There needs to be a change somewhere. I understand that research in technology and the sciences is very costly, but there is also all that money being funneled into sports and buildings to up the prestige of a school. It's certainly not going to professor salaries.

[Auntie Bush]

8. Bless this wonderful man!

I always said if I had millions...I give it to students for their college education...but I'd also want a personal relationship with those students. I guess I never thought of being a billionaire. lol I wasn't dreaming big enough.

Wish more people/millionaires would do the same. If Romney had done this instead of hoarding his money in the caymans... he might be President today.