It's official. I'm putting together a non-profit fund that will fund student living expenses. Students will be expected to pay back into the fund when they're on their feet, and those funds will then be re-loaned to other students for 0 or very low interest. Details soon.
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Nearly every school in the US is for profit?
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No, nearly every for profit school has a 501c3 scholarship fund
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Ah, fascinating, I'm now super curious as to how they get around this. My guess is the 501c3 in theory at least is not school specific, combined with lax enforcement but I'm. Way out of my depth
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I’m 99% certain there’s nothing wrong with having a 501c3 tied to benefit a specific subset of people tied to a for profit corp. the funds can’t benefit a single specific person, but obviously that’s different
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I mean if my sister was going ITT Tech and she died I can absolutely start a 501c3 that will help more students attend ITT Tech
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I would be sad if your sister got scammed by ITT
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Haha me too. I’m trying to push to the ends of the law :)
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Can you give me a specific example of such an arrangement, honestly curious
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Yeah that is not a great example since am vets is independent of Phoenix also tuition could be a waiver from Phoenix so they don't stand to benefit the way they would if it was due paying student getting subsidy on living expenses
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What does “independent institution” mean in this instance? Not a subsidiary of a corporation?
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That specific example they do not begot phoenix the way it wouldif itwas for living expenses for fee paying student
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Those scholarships don’t even cover a full semester tuition
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Yes but phoenix doesn't benefit
End of conversation
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