Education
The Rich Get College Subsidies While the Student Debt Debate Goes On
To beat again skepticism, the White Home proposed to restrict the $20,000 supply to individuals who began faculty with little or no — those that, again once they have been college students, certified for federal Pell Grants for individuals from low-income households. Everybody else would rise up to $10,000 of reduction.
The White Home additionally famous that almost one-third of the debtors now eligible for reduction didn’t end college and are burdened with the debt however not the diploma that might most likely have made mortgage funds extra reasonably priced. Total, near 90 p.c of the deleted debt {dollars} have been presupposed to go to individuals incomes lower than $75,000 a yr.
Most individuals with five-figure incomes have bother saving some huge cash for faculty in 529 plans, which permit customers to speculate cash in inventory funds that may outrun tuition inflation over time. Tax breaks that include the accounts — whether or not they’re state earnings tax deductions for deposits or the avoidance of federal taxes upon withdrawal — are sometimes extra worthwhile to individuals with the best incomes.
Now, enter these Dynasty 529 plans. Two years in the past, an accountant and monetary planner named Jeffrey Levine — beloved on tax Twitter for his prolonged, in-the-moment dissections of difficult laws — wrote a type of treatise on the subject on the web site kitces.com.
In a considerably bemused, can-you-believe-this-is-real tone that ran over 6,000 phrases, he outlined the probabilities. In brief, rich people can front-load massive 529 deposits in such a method that the accounts pays for a number of faculty educations a long time from now and nonetheless have cash left over for different members of the family pursuing increased schooling in future generations. It’s all authorized, and in case you leap by just a few modest hoops, it’s typically tax-free.
In truth, Mr. Levine spreadsheeted a jaw-dropping scenario the place two aspiring grandparents every make investments $15,000 a yr and let the cash develop for 35 years. In that point, they might pay full tuition for 4 potential grandchildren, assuming a $30,000 annual invoice at this time that might develop at a 5 p.c annual fee.
Even after the beneficiant grandparents did all of that, there can be over $3 million left over to let experience for future generations.
Education
Four Fraternity Members Charged After a Pledge Is Set on Fire
Four fraternity members at San Diego State University are facing felony charges after a pledge was set on fire during a skit at a party last year, leaving him hospitalized for weeks with third-degree burns, prosecutors said Monday.
The fire happened on Feb. 17, 2024, when the Phi Kappa Psi fraternity held a large party at its house, despite being on probation, court documents show. While under probation, the fraternity was required to “demonstrate exemplary compliance with university policies,” according to the college’s guidelines.
Instead, prosecutors said, the fraternity members planned a skit during which a pledge would be set on fire.
After drinking alcohol in the presence of the fraternity president, Caden Cooper, 22, the three younger men — Christopher Serrano, 20, and Lars Larsen, 19, both pledges, and Lucas Cowling, 20 — then performed the skit, prosecutors said.
Mr. Larsen was set on fire and wounded, prosecutors said, forcing him to spend weeks in the hospital for treatment of third-degree burns covering 16 percent of his body, mostly on his legs.
The charges against Mr. Cooper, Mr. Cowling and Mr. Serrano include recklessly causing a fire with great bodily injury; conspiracy to commit an act injurious to the public; and violating the social host ordinance. If convicted of all the charges, they would face a sentence of probation up to seven years, two months in prison.
Mr. Larsen himself was charged. The San Diego County District Attorney’s office said that he, as well as Mr. Cooper and Mr. Cowling, also tried to lie to investigators in the case, deleted evidence on social media, and told other fraternity members to destroy evidence and not speak to anyone about what happened at the party.
All four men have pleaded not guilty.
Lawyers representing Mr. Cooper and Mr. Cowling did not immediately respond to messages requesting comment on Tuesday. Contact information for lawyers for Mr. Serrano and Mr. Larsen was not immediately available.
The four students were released on Monday, but the court ordered them not to participate in any fraternity parties, not to participate in any recruitment events for the fraternity, and to obey all laws, including those related to alcohol consumption.
The university said Tuesday that it would begin its own administrative investigation into the conduct of the students and the fraternity, now that the police investigation was complete.
After it confirmed the details, the dean of students office immediately put the Phi Kappa Psi chapter on interim suspension, which remains in effect, college officials confirmed on Tuesday.
Additional action was taken, but the office said it could not reveal specifics because of student privacy laws.
“The university prioritizes the health and safety of our campus community,” college officials said in a statement, “and has high expectations for how all members of the university community, including students, behave in the interest of individual and community safety and well-being.”
At least half a dozen fraternities at San Diego State University have been put on probation in the last two years, officials said.
Education
Video: Several Killed in Wisconsin School Shooting, Including Juvenile Suspect
new video loaded: Several Killed in Wisconsin School Shooting, Including Juvenile Suspect
transcript
transcript
Several Killed in Wisconsin School Shooting, Including Juvenile Suspect
The police responded to a shooting at a private Christian school in Madison, Wis., on Monday.
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Around 10:57 a.m., our officers were responding to a call of an active shooter at the Abundant Life Christian School here in Madison. When officers arrived, they found multiple victims suffering from gunshot wounds. Officers located a juvenile who they believe was responsible for this deceased in the building. I’m feeling a little dismayed now, so close to Christmas. Every child, every person in that building is a victim and will be a victim forever. These types of trauma don’t just go away.
Recent episodes in Guns & Gun Violence
Education
Video: Biden Apologizes for U.S. Mistreatment of Native American Children
new video loaded: Biden Apologizes for U.S. Mistreatment of Native American Children
transcript
transcript
Biden Apologizes for U.S. Mistreatment of Native American Children
President Biden offered a formal apology on Friday on behalf of the U.S. government for the abuse of Native American children from the early 1800s to the late 1960s.
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The Federal government has never, never formally apologized for what happened until today. I formally apologize. It’s long, long, long overdue. Quite frankly, there’s no excuse that this apology took 50 years to make. I know no apology can or will make up for what was lost during the darkness of the federal boarding school policy. But today, we’re finally moving forward into the light.
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