So in that worldview a tuition waiver is, in and of itself, a Veblen good; that is, the exclusivity IS the apparent value of the good.



You're right, ZS; I do not share that particular perspective. If my DD's college (within the same state) were to offer 1000 "presidential" scholarships (full tuition) annually instead of the 65 that it does offer, I would feel no differently about the relative value of that award. The true value in my mind is the ability to graduate debt-free, and to focus exclusively on one's STUDIES, without such concern about finances. It might permit an unpaid summer internship, or for a student to study abroad.

What others receive or do not doesn't seem relevant to any of that. In fact, a great many less "able" students will no doubt receive far more "need-based" aid than will my DD. Should I be mad about that??


I anticipate additionally that the "hard work" referenced in order to obtain this particular merit award will pay dividends during post-secondary studies, even if they seem to have been "excessive" in the here and now... again, not really understanding this point-- has such performance come at some substantial (and now regretted?) opportunity cost??

Otherwise, the work ethic and habits formed will more than make up for any loss of prestige if such a benefit were to be extended to those slightly less... illustrious, shall we say. In other words, if you're the top of the top, then you're still going to be there when it matters in two years.





Schrödinger's cat walks into a bar. And doesn't.