Friday, November 15, 2024

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New endowment could prove useful

Although I am probably opposed to the particular tax increase ASMSU is proposing - due to concerns such as a lack of criteria regarding the scholarship it will set up - I'm not totally opposed to the theory behind it.

Having students pay an extra $3 a semester ($24 in their whole college career, on the four year plan) is not much to ask for - I spend more on a tank of gas. However, collectively, this money could go to help those with financial troubles pay for books or tuition. This is a good idea that benefits the whole community, not just those getting the scholarship.

We all know that college is getting more and more expensive, and many incredibly gifted and intelligent students are being forced to drop out solely because of financial issues. Especially with threats on the horizon, such as slashed Pell Grants, funding education for those less privileged is becoming increasingly important.

The plan to use the money to save up and get an endowment is also an excellent idea. Endowments take a certain amount of investment to start up, but then become self-sufficient, operating off their interest to provide funds.

I would propose that this tax increase have a sunset clause once the endowment is established, or ASMSU should simply budget over a number of semesters the start-up cost for a successful endowment, which can be used for scholarships.

Erik Green
English senior

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