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Starting in the Summar, Top 20% all incoming class of 2017 will be offered around $300,000 Merit Scholarship, Covering everything for entire 4 years. You get first class medical education complete free. Wow.....................Go UCLA David Geffen School of Medicine.

Since this scholarship is privately funded, I am not sure if this is statehood-blind or not.

Here is the Link:
http://www.latimes.com/news/local/la-me-ucla-medschool-20121213,0,3167585.story
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More than 30 incoming medical school students will get a full ride to UCLA's David Geffen School of Medicine thanks to a $100-million gift from the school's benefactor.
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So, safe to assume < 40 students will benefit. With that much money, I wonder why they decided that only ~30 students should get a piece of the pie?

Oh, right, prob to sway top 4.0/38+ folks over from T10 schools. If this designation of ~30 full rides is accurate, I cannot see why they wouldn't help a larger breadth of their students (say ~60 half-rides).

Why not do the greater good? ...UNLESS it was heavily devised to boost their US News Rankings.
 
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mcloaf said:
Lol, such optimism.
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A gift of 100 million dollars is mind-blowing. Very awesome.

Also, it's nice the the school wants to help the students (however, who knows how much of this was actually the administration's initiative vs. Geffen's himself -- reading the article, he is obviously a very generous man and concerned about students being shackled by debt).

Here is what I didn't yet read when I replied above:

The David Geffen Medical Scholarship Fund will provide scholarships for up to 33 students beginning medical school in 2013. Up to three of the scholarships are available for students pursuing a joint doctorate and medical school degree. The students will be chosen based on merit, not financial need.

Block said the scholarships will help recruit more of the nation's top medical school applicants.
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With that said, I just found it strange, that with such a HUMONGOUS gift... only 33 students are going to directly benefit.

They didn't make it a secret with how they are awarding the full-rides: merit (i.e. bring on the astronomical GPA's and MCAT scores).

They want to boost their US News Rankings. Dare I say a "greedy" move by UCLA.

Which will have the "larger" impact on the graduating cohort of 163 students:

33 students graduating debt-free, the other 130 regular full debt

or

99 students graduating with 33% less debt, and only 64 regular full debt

Better yet, pull a play out of Mayo's playbook and let every single student get at least a little bit, with those "desirable top applicants" getting a bit extra on the top.
 
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its-my-money-and-i-need-it-now.jpg


Sorry, I just saw this thread as an advertisement.
 
Remember this is a private scholarship fund and funded and designatedby Mr. David Geffen....
 
Blais said:
They didn't make it a secret with how they are awarding the full-rides: merit (i.e. bring on the astronomical GPA's and MCAT scores).

They want to boost their US News Rankings. Dare I say a "greedy" move by UCLA.
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Maybe, but it seems pretty par for the course with most of the schools that they're competing with for top students. Michigan and Chicago both give out a fair amount of merit money, and so does UPenn I believe.
 
.
 
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BlackSwan said:
You invest the $100mm and dole out scholarships based on the expected return, so you can hope to run the scholarship in perpetuity.

Instead of your idea of blowing the $100mm on SIXTY full-rides and losing all the money within a few years...
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Maybe my math skills are lacking, but 30 full-rides and 60 half-rides should come out to just about the same.. give or take a few cents.
 
MedPR said:
Maybe my math skills are lacking, but 30 full-rides and 60 half-rides should come out to just about the same.. give or take a few cents.
Click to expand...

Good catch. My mistake. Sorry Blais, I suck at reading. Carry on.
 
mcloaf said:
Maybe, but it seems pretty par for the course with most of the schools that they're competing with for top students. Michigan and Chicago both give out a fair amount of merit money, and so does UPenn I believe.
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Of course. It's a frequently prescribed-to tactic. Gotta attract those 4.0/38+ applicants. I hear that they automatically make the best docs and commit to the most novel research. ;) Note: I only make that last tongue-in-cheek jab because that is how it was framed in the article:

...will enable students to follow their passions and become leading physicians and researchers without worrying about paying off loans, he said.
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In reality, once past a certain threshold, the numbers simply function to boost a school's averages.

So be it.

However, I still think, with such a large pot of money essentially "magically" falling into UCLA's lap (*POOF*) that they could have committed to reaching more of their student body than merely 33/163.
 
Blais said:
Of course. It's a frequently prescribed-to tactic. Gotta attract those 4.0/38+ applicants. I hear that they automatically make the best docs and commit to the most novel research. ;)

In reality, they past a certain threshold the numbers simply function to boost a school's averages.

So be it.

However, I still think, with such a large pot of money essentially "magically" falling into UCLA's lap (*POOF*) that they could have committed to reaching more of their student body than merely 33/163.
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Interesting that my girlfriend and I were talking about this very topic (not UCLA, but pre-med stats and top schools) a few minutes ago.

Honestly I think a lot of top students could be attracted to UCLA for less than full-tuition considering people already like California and UCLA is a pretty damn good school. I'm not in a position to be offered any scholarship, not to mention full-tuition, so I guess I don't really understand how enticing it really is.
 
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So, if I score 40+ on the MCAT, I suppose I'll apply to UCLA...

I guess that means there's a ~0% chance I'll apply to UCLA.
 
mcloaf said:
Porque?
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Porque usted se cometió un hilo derivado del hecho de que la UCLA está ofreciendo becas a los estudiantes que tienen buenas estadísticas, y todos sabemos que muchas escuelas hacerlo ya.

Or not usted, OP.
 
ShenanigansMD said:
Porque usted se cometió un hilo derivado del hecho de que la UCLA está ofreciendo becas a los estudiantes que tienen buenas estadísticas, y todos sabemos que muchas escuelas hacerlo ya.

Or not usted, OP.
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Bad translation is bad. Google?
 
For some of the strongest students from middle class families, a partial tuition bump from UCLA is often not powerful enough to entice them away from need-based aid to a top 5 school. Those top schools with deep pockets for need-based aid can offer packages that rival what many schools' merit packages provide.

When the difference in aid packages is <$100k over four years between schools, and you're thinking about Hopkins, it's often not enough that UCLA is in California and that UCLA is "pretty damn good."

The reality of competition for top students now is full tuition. Even at top 10 schools (WashU, Penn, Duke).
 
129041188491268621.jpg


Hooray public school.
 
sounds like a pretty sweet deal. I wish they had this going when I started there back in 2004.
 
Wait.

So, 300K * 33 spots = $9.9 million

Wasn't this a $100 million gift? Did the other $91 million go to something else? Or will this new scholarship be in place for the next 10 years?
 
Spinach Dip said:
Wait.

So, 300K * 33 spots = $9.9 million

Wasn't this a $100 million gift? Did the other $91 million go to something else? Or will this new scholarship be in place for the next 10 years?
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Yes, it will be in place for a while. They're going to invest the money and use the interest to fund the students and make a sustaining fund.
 
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angemon89 said:
Bad translation is bad. Google?
Click to expand...

Intermediate Spanish, but he asked in Spanish so I answered to the best of my ability.

I will admit that Spanish is my weakness, but I give myself an A for effort.
 
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Oh now. We know they'll be good doctors who didn't do it for the mullah,and it's UCLA.
 
Propylene said:
Yes, it will be in place for a while. There going to invest the money and use the interest to fund the students and make a sustaining fund.
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Okay. I thought for a moment there that they'd spent $91 million on something else (building improvements?), and the remainder was going into some randomly-chosen scholarship fund.

But if they're giving these scholarships out every year from now on, I have to say YAY! :clap: Even though I have a ~0% chance of getting one, this will be a great thing for both the university and 33 students every year.
 
Spinach Dip said:
Okay. I thought for a moment there that they'd spent $91 million on something else (building improvements?), and the remainder was going into some randomly-chosen scholarship fund.

But if they're giving these scholarships out every year from now on, I have to say YAY! :clap: Even though I have a ~0% chance of getting one, this will be a great thing for both the university and 33 students every year.
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According my source at UCLA Medical School, during the day of Scholarship Presentation at the medical school, the day before official announcement, David Geffen himself and a bunch of top California Money Managers and hedge fund capitalists were there. Those Money managers with track record of 10%+ each year, some year with 20% +, pledge to offer services to School also as donation. Everyone in the presentation wanted this fund success. This fund is guaranteed by both David Geffen and those Money capitalists, I believe.....

No buildings, No others, Only for the Merit Scholarships, that is what David Geffen designated.



"We were in awe of the sheer amount of the donation," Christine Thang, a second-year medical student at UCLA, told The Huffington Post. While it helps incoming students, Thang noted it will "free up a lot of money for our financial aid office to redistribute aid to current students."

1. Those 33 students no longer in the financial aid pool any more,
2. The school top students usually get some part merit scholarship before, every top school do the same.

So many more students will be benefited at UCLA medical School, not only for those 33s......
 
Am I the only one who thinks Geffen is wasting his money? As people who are pretty much guaranteed a six figure income for the rest of our lives, we aren't exactly the "neediest" who could benefit from that money. Is bumping the ranking of UClA in us world news really going to make anyone's life better?

You could do a lot of good for those truly on need with that money. Better homeless shelters, food banks, refugee agencies that are strapped, so many better "causes". It is his money so he can spend it any way he wants, adter all, he could have bought a tacky new mansion or something instead.
 
AnthonyBourdain said:
Am I the only one who thinks Geffen is wasting his money? As people who are pretty much guaranteed a six figure income for the rest of our lives, we aren't exactly the "neediest" who could benefit from that money. Is bumping the ranking of UClA in us world news really going to make anyone's life better?

You could do a lot of good for those truly on need with that money. Better homeless shelters, food banks, refugee agencies that are strapped, so many better "causes". It is his money so he can spend it any way he wants, adter all, he could have bought a tacky new mansion or something instead.
Click to expand...

He bought a $300 million yacht last year. But let's be serious here, he is a billionaire with a net worth of around $5.5 billion (wiki). They said he made a pledge to donate most of his earned money to charity. So one can only assume that he is donating all across the board to tons of charities and causes, we just don't hear about them.
 
AnthonyBourdain said:
Am I the only one who thinks Geffen is wasting his money? As people who are pretty much guaranteed a six figure income for the rest of our lives, we aren't exactly the "neediest" who could benefit from that money. Is bumping the ranking of UClA in us world news really going to make anyone's life better?

You could do a lot of good for those truly on need with that money. Better homeless shelters, food banks, refugee agencies that are strapped, so many better "causes". It is his money so he can spend it any way he wants, adter all, he could have bought a tacky new mansion or something instead.
Click to expand...

So what you are saying is that paying for the education of some of the brightest people in the world is a waste of money. But feeding homeless people is a good cause. Because doctors will be rich due to long years of hard work and sacrifice so they don't deserve to be helped.
 
AnthonyBourdain said:
Am I the only one who thinks Geffen is wasting his money? As people who are pretty much guaranteed a six figure income for the rest of our lives, we aren't exactly the "neediest" who could benefit from that money. Is bumping the ranking of UClA in us world news really going to make anyone's life better?

You could do a lot of good for those truly on need with that money. Better homeless shelters, food banks, refugee agencies that are strapped, so many better "causes". It is his money so he can spend it any way he wants, adter all, he could have bought a tacky new mansion or something instead.
Click to expand...

By this logic, no medical student anywhere should get financial aid.
 
yehhhboiii said:
So what you are saying is that paying for the education of some of the brightest people in the world is a waste of money. But feeding homeless people is a good cause. Because doctors will be rich due to long years of hard work and sacrifice so they don't deserve to be helped.
Click to expand...

Yes. Doctors aren't the only ones that work hard. No one is not going to med school because they didn't get this scholarship. I just spent the morning helping kids with terrible backgrounds buy coats and clothes for school. There are people who can't afford to buy their kids a winter coat or afford to pay the $2.50 to wash their kids clothes every time they spill something. We are or will be privileged and to throw money at us is a slap in the face of those who aren't so fortunate.

Again, it is his money and he can do what he wants with it. We just wouldn't be most people's first choice, we've got it pretty good or will have it that way.
 
dbeast said:
By this logic, no medical student anywhere should get financial aid.
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I think the point he is making is that the money could be used to transform a homeless person's life more than a medical student who barring some major mistakes will become a physician with or without the aid. There are just too many blanket statements to be made about who "deserves" the help more that doesn't take personal situations into account.

That said, I think it's great that Mr. Geffen is donating his money for others. He definitely can do what he wants with his own money but he choose to use some of it to help aspiring doctors. Maybe this will free up more money for graduates from UCLA to work more closely in the community and make a difference that way. Either way, it's a generous gift that is going to affect a huge range of people in the long run.
 
AnthonyBourdain said:
Yes. Doctors aren't the only ones that work hard. No one is not going to med school because they didn't get this scholarship. I just spent the morning helping kids with terrible backgrounds buy coats and clothes for school. There are people who can't afford to buy their kids a winter coat or afford to pay the $2.50 to wash their kids clothes every time they spill something. We are or will be privileged and to throw money at us is a slap in the face of those who aren't so fortunate.

Again, it is his money and he can do what he wants with it. We just wouldn't be most people's first choice, we've got it pretty good or will have it that way.
Click to expand...

I certainly see what your saying. I think it ties into my "complaint" from earlier: more good could have been accomplished than aiming to boost their US News Ranking.

You, admittedly, went a step further with utilizing the 100 million to reach people other than students. Definitely something to think about...even though Mr. Geffen likely has a lot of money going toward starving children in Africa... the "extra 100 million" could have done that much more for them.

Returning back to med school, as it stands, it will sway some 4.0/40 applicants to UCLA. That's awesome. But I still think it should be directly distributed to more of the students than 33/163.
 
chronicidal said:
For some of the strongest students from middle class families, a partial tuition bump from UCLA is often not powerful enough to entice them away from need-based aid to a top 5 school. Those top schools with deep pockets for need-based aid can offer packages that rival what many schools' merit packages provide.

When the difference in aid packages is <$100k over four years between schools, and you're thinking about Hopkins, it's often not enough that UCLA is in California and that UCLA is "pretty damn good."

The reality of competition for top students now is full tuition. Even at top 10 schools (WashU, Penn, Duke).
Click to expand...

Yea you're right. Idk what I was thinking :oops:

Sent from my SGH-T999 using SDN Mobile
 
Blais said:
I certainly see what your saying. I think it ties into my "complaint" from earlier: more good could have been accomplished than aiming to boost their US News Ranking.

You, admittedly, went a step further with utilizing the 100 million to reach people other than students. Definitely something to think about...even though Mr. Geffen likely has a lot of money going toward starving children in Africa... the "extra 100 million" could have done that much more for them.

Returning back to med school, as it stands, it will sway some 4.0/40 applicants to UCLA. That's awesome. But I still think it should be directly distributed to more of the students than 33/163.
Click to expand...

:thumbup: In general, people with fewer resources have somewhat worse scores due to the financial strain they had to face in College.
 
AnthonyBourdain said:
Yes. Doctors aren't the only ones that work hard. No one is not going to med school because they didn't get this scholarship. I just spent the morning helping kids with terrible backgrounds buy coats and clothes for school. There are people who can't afford to buy their kids a winter coat or afford to pay the $2.50 to wash their kids clothes every time they spill something. We are or will be privileged and to throw money at us is a slap in the face of those who aren't so fortunate.

Again, it is his money and he can do what he wants with it. We just wouldn't be most people's first choice, we've got it pretty good or will have it that way.
Click to expand...

If they can't afford basic necessities for their kids, why do they have kids?
 
yehhhboiii said:
If they can't afford basic necessities for their kids, why do they have kids?
Click to expand...

:bang:



You do realize there are people in this world that can't plan more than 5 minutes ahead, right? Never mind nine months. And if you ask them how newborn Jimmy is going to afford college, they'll give you this blank stare because it has never crossed their minds before this moment.

Not everyone is a 3.8 premed who scored 32 on the MCAT before their 23rd birthday.

You do realize there are stupid people out there, right?
 
yehhhboiii said:
So these people and their progeny should be subsidized because...
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Yeah, the kids should starve because their parents are poor. And their parents are poor because they're stupid.




Notsrs

Sweet Jesus. This forum depresses me sometimes. Not everything is black and white.
 
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