Chapter 63: Student Loan Aid
In the United States, attending a prestigious university is like stepping onto a gleaming social ladder. Whether or not you graduate, the mere fact that you were admitted adds a radiant glow to your identity. Just mentioning the name of the school is often enough to earn instant respect—even if you dropped out.
After all, the real value of elite universities has never been just about academics. It's about networking and access to exclusive circles—like the "Tsinghua Circle" or "Peking University Circle." So graduation itself? Often secondary.
Frank was living proof of this. The moment he casually mentioned that he once studied at Northwestern University, Professor Hurst instantly warmed up to him.
As it turned out, they were not only fellow alumni—Hurst was even a few years ahead of Frank. Their shared background closed the gap between them quickly.
Frank, of course, didn't mention the wild and irresponsible past of his younger self. Hurst didn't pry either. From his perspective, Frank had likely dropped out of college to start a business that eventually failed—an all-too-common story.
It's typical for ambitious young students, especially from top schools, to get swept up in a burst of inspiration, thinking they've found the next big idea or invention. They drop out, eager to seize the world, only to be crushed by the harshness of reality. In fact, the odds of success after dropping out to start a business? Barely 2%. Most success stories are just survivorship bias.
Hurst himself had once dreamed of doing the same. After all, every young person goes through a phase of believing they're the protagonist of the universe. So when Frank didn't elaborate on his past, Hurst understood. Especially given Frank's "disability" that kept him from working. It's basic social etiquette not to press on someone's scars.
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"By the way, about my son helping others with exams… is he going to be in trouble?" Now that the atmosphere had relaxed and the relationship was on friendly terms, Frank finally shifted the topic to Lip.
"Helping others cheat is definitely serious," Hurst said. "But it depends on who did it and how. If it were someone using dishonest means, I'd report them to the committee and have them jailed for a few years."
"But Lip is different. He didn't cheat. Every test he took, he passed entirely on his own merit—even if it was for someone else. I don't think you realize just how gifted your son is."
"Just recently, the committee issued a new exam. Lip scored a perfect 2,400. Do you have any idea how rare that is?"
"Every year, about 1.5 million students take the test. Only around 300 manage to get a perfect score—and most of them come from elite private schools. But Lip? He's still a junior at a run-down public high school."
"I've already reported Lip's situation to the committee. He won't get in any trouble. After all, the committee's goal isn't to throw kids in jail, but to ensure college admission scores remain credible."
"Of course, Lip can't keep doing this. If he helps someone cheat again, the consequences will be severe—and not even I can protect him," Hurst warned.
"In fact, I think it's a waste for Lip to stay at that dump of a high school. If possible, I'd like him to start college next semester." Hurst turned to Lip.
"Chicago University?" Frank was taken aback.
"But I still have a year and a half of high school left," Lip said.
"I can write a recommendation letter," Hurst replied. "He'd need to pass a test, but for someone like Lip, that's just a one-hour formality. You know you have the ability," he said, turning to Lip.
"And then what? How do I pay for it?" Lip asked.
The joy on Frank's face instantly turned grim. College in America is notoriously expensive. With the Gallagher family's finances, affording tuition was out of the question.
"Would he be eligible for a scholarship if he skipped grades?" Frank asked hopefully.
Colleges do offer scholarships and financial aid, and with one, it's possible to cover tuition.
"For the first semester, that might be tough," Hurst replied. "But you can apply for aid. Student loan providers are happy to cover tuition, housing, and meal plans. It'll be enough to get through college."
"And then what?" Lip responded. "With interest and everything, I'll end up owing around half a million dollars. After graduation, I'll be chained to the bank, paying off debt for decades."
Lip had considered this before. If he wanted to, he could've skipped grades and started college as a freshman. But the same question always stopped him—how would he afford it?
He had calculated everything. Tuition, fees, loan interest. The total debt was astronomical—$500,000. For the Gallaghers, that was unimaginable. In their neighborhood, you could buy a house for a few thousand dollars.
If he graduated on time and found a good-paying job, he might pay it off by age 50.
If not—say, during a recession with no stable work—he'd default. The bank would take everything. His credit would be ruined. He'd be blacklisted. Homelessness would be the only outcome.
Yes, attending a top school is prestigious. But with so many students, who can guarantee that every graduate lands a job?
Even in China, millions of students graduate each year. Can they all find work?
Official stats claim a 90%+ employment rate, but anyone with a brain knows better. The truth is: for most people, graduation equals unemployment.
Even Ivy League grads in the U.S. aren't immune.
Frank himself was a perfect example of what not to do.
That's why Lip had never seriously considered student loans.
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"Lip, you're a smart kid. You understand the stakes. At least you still have the option of taking out a loan," Professor Hurst said seriously. "Many people from your neighborhood don't even qualify."
Sure, the debt was massive. But it represented a way out—a shot at upward mobility.
And no one knows what the future holds. Maybe this chance would lead to Lip becoming the next tech giant. If that happened, paying off the loans would be pocket change.