D&D and the rising pandemic

[MarkB]

And what if the kid isn't planning on going to college? Do they get nothing? Do they get the $300,000 (substantially less than the $1 million).

The prizes are only going to a total of ten people across the entire state. Not exactly mass inequity.

 

[Cadence]

And what if the kid isn't planning on going to college? Do they get nothing? Do they get the $300,000 (substantially less than the $1 million).

If you just give them the cash...

Would the parents actually control the young one's money if they got it right now? (I guess it could be put it in a time delayed account that would let them take it out for a short list of emergencies).

And for some of the kids, do they actually have any say in the matter?

Motivational money is best targeted at those who need the most motivation, right? I'm guessing hesitant parents are really hard to motivate about their kids (or can the 12-15 yo get the jab without a parent?).

 

[MoonSong]

Wow, all this talk and to think that I technically get paid to attend college. (I just had to be born on the right place, to the right parents, talk the right dialect and work in the right place)

A bit back on topic, if you got vaccinated and didn't get an immediate reaction, you can still get a reaction weeks later. It happened to me, I basically had a miniature episode with Covid-like symptoms. Good thing it was only a reaction. I wouldn't want to catch the real thing.

 

[Umbran]

you can spin it any way you want, but 1.000.000 is 3 scholarships and lots of change.

So, it isn't about "spin". It is about having a different perspective.

 

[Umbran]

And what if the kid isn't planning on going to college? Do they get nothing? Do they get the $300,000 (substantially less than the $1 million).

To be honest, I am not really so invested at looking free gifts in the mouth to have dug into the terms that deeply.

 

[Dannyalcatraz]

Unless the Covid lottery laws were written up in such a way as to make the awards non-transferrable, a winner could make a broad range of altruistic or profitable actions with the money awarded.

 

[Deset Gled]

And what if the kid isn't planning on going to college? Do they get nothing? Do they get the $300,000 (substantially less than the $1 million).

There's another component to this: taxes. If the scholarship is set up properly, it is likely that the winner would not have to pay taxes on it. Everyone that wins the money, however, will owe a large chunk of that prize to the government. This is another reason why winning a $300k scholarship is potentially better than winning $1M cash.

If someone wins a scholarship but opts not to go to college, it is likely that they can convert the $300k from scholarship money to fungible money, and will probably pay a tax to do so.

Also, going back to your earlier question, in PA when a minor wins a large some of cash it is given to their legal guardian. Putting the prize as a scholarship is one way to guarantee the parents can't take control of the prize. I suspect this is similar in MA.

 

[Zardnaar]

Each minor has about 8x the chance of winning and the program has over twice the funds per kid in the population than per adult. Proportionately speaking the overall pot for kids is twice the size of the pot for adults.



In raw dollar amount, you might think so, but... it means the kid will likely enter the working population with a college education, and no debt to speak of. That is a huge benefit.

I will likely be paying off my student loans until I die. I have friends who got through school without debt, and they've already retired, because they could save far more than I could.

Boomers here got free university then pulled the ladder up on Gen X.

Then the Millennials got interest free loans so my generation got it the hardest. You only pay about 20-25% though.

Boomers also got the cheap housing and free everything so there's a few salty over that.

 

[Zardnaar]

you can spin it any way you want, but 1.000.000 is 3 scholarships and lots of change.

That is free college degree, a house, so no rent money and very good car without credit line for it. And no worries for life expenses while you study. Talk about a head start.

Around 50% tax. That buys a cheap house here. A million dollars might get you an above average house in one of our more expensive city you need around 2 million for a really nice house.

 

[cmad1977]

Second year in a row of very little flu.


Unexpected side effect of Covid/MiQ. Don't think I've even had a cold since 2019.

My kids pediatrician said he hasn’t seen many/any sick kids for over a year.