12 ms·

Town residents pooled together their money to provide scholarships for everyone

62 points by DarkContinent 11y ago

jpollock 11y ago
In New Zealand, the Southern Institute of Technology [1], one of the universities runs a zero-fees program [2]. This, I believe, is funded from local businesses who see substantial benefits from having students around with money to spend. [1] https://en.wikipedia.org/wiki/Southern_Institute_of_Technology https://en.wikipedia.org/wiki/Southern_Institute_of_Technolo... [2] https://www.sit.ac.nz/Fees-Enrolments/Zero-Fees https://www.sit.ac.nz/Fees-Enrolments/Zero-Fees
- djrobstep 11y ago
  SIT is not a university</pedanticnitpicking>. It is a good scheme nonetheless.
melling 11y ago
“In America, a quality education cannot be a privilege that is reserved for a few.” A few being 65.9 percent. http://www.nytimes.com/2014/04/26/business/fewer-us-high-school-graduates-opt-for-college.html http://www.nytimes.com/2014/04/26/business/fewer-us-high-sch... Then we have that other problem: "Grad-School Loan Binge Fans Debt Worries Graduate students account for 40% of borrowing; many seek federal forgiveness" http://www.wsj.com/articles/loan-binge-by-graduate-students-fans-debt-worries-1439951900 http://www.wsj.com/articles/loan-binge-by-graduate-students-...
- afarrell 11y ago
  http://slatestarcodex.com/2015/06/06/against-tulip-subsidies/ http://slatestarcodex.com/2015/06/06/against-tulip-subsidies...
  - michaelchisari 11y ago
    "As an online discussion of macro-economics grows longer, the probability an oversimplified analogy is offered approaches 1" I'm going to call it Rothbard's Law.
- michaelchisari 11y ago
  How many of those 65.9 percent can reasonably afford the loans they take out in order to go attend college? Seems to me the issue is loans in general, and that free public university is a proven way to provide education without extraordinarily inflating the costs.
  - coryrc 11y ago
    How many of those 65.9 percent are learning something useful to society? Because those that are will not have a hard time paying back loans.
    - cblock811 11y ago
      Unless they go into a useful field like education.
      - coryrc 11y ago
        Mid-career K-12 teachers in WA state make $49-67k per year.[1] Median household income in the WA is $53k.[2] Seems pretty good for single earners to be above half of households for 9-10 months of work per year. [1] http://www.seattletimes.com/seattle-news/education/wildly-varying-teacher-salaries-part-of-state-budget-debate/ http://www.seattletimes.com/seattle-news/education/wildly-va... [2] http://www.census.gov/quickfacts/table/INC110213/00 http://www.census.gov/quickfacts/table/INC110213/00
    - modfodder 11y ago
      It's more accurate to ask how many are learning something that the parts of our society that control the money find useful. Do we really need more computer science graduates making time wasting apps or on demand laundry start-ups? There's plenty of STEM grads having a tough time finding jobs even though they've studied subjects very useful to society (cancer research, neuroscience, etc). And reality can change quickly. I seem to recall back in 1991, as I was starting a Computer Science degree, reading articles about the coming glut of CompSci grads and shortage of jobs. Of course the internet came along and changed that rather quickly. Your position that everyone just needs to major in the right degree is bullshit. If everyone moved to the top 10 in demand degrees then there would be a glut of job candidates and the problem would basically be the same, people just graduating being told their degree is useless and they made the wrong choice. http://www.washingtonpost.com/national/health-science/us-pushes-for-more-scientists-but-the-jobs-arent-there/2012/07/07/gJQAZJpQUW_story.html http://www.washingtonpost.com/national/health-science/us-pus... http://www.theatlantic.com/business/archive/2013/02/the-phd-bust-americas-awful-market-for-young-scientists-in-7-charts/273339/ http://www.theatlantic.com/business/archive/2013/02/the-phd-... http://www.cbsnews.com/news/a-shortage-of-scientists-and-techies-think-again/ http://www.cbsnews.com/news/a-shortage-of-scientists-and-tec... http://www.popecenter.org/commentaries/article.html?id=2701 http://www.popecenter.org/commentaries/article.html?id=2701
devhead 11y ago
so much human in one story, great job Baldwin!
djb_hackernews 11y ago
When I graduated high school I made a list of things I wanted to do in my life. One of them was to start a scholarship for students at the high school I graduated from. A few years ago I first offered the scholarship. It's only a one time $1000 scholarship and my alma mater definitely didn't have the higher ed access issues it sounds like this town did, but one of the criteria is the student CAN'T be in the top 10 of the graduating class. This mostly bore out of the fact that during my awards ceremony the top 10 absolutely cleaned up, some getting full ride scholarships they weren't even going to use. I get you want to reward hard working students but I worked very hard in high school but I just don't think the system I was in was perfect for me and, several years later, I'm contributing just as much to society on average as the top 10 students from my class. My point being, high school isn't a great predictor of future success on a few different levels. If anyone out there has experience starting scholarships for high school students and expanding them, please reach out to me. I definitely have big plans but I could use someone that's done this before.
- Nicholas_C 11y ago
  I want to start scholarships for students from my high school that are from humble backgrounds and want to attend community college for the beginning of their college careers. Eventually I would like to start a scholarship fund. I haven't really found a lot of good resources for starting a scholarship. How did you go about setting up your scholarship?
  - ics 11y ago
    I've wondered the same and finally remembered to search thanks to this story. I'd be interested in hearing the parent's response but it's also a surprisingly easy thing to search. Here are some links: How to Start Your Own College Scholarship - http://www.wsj.com/articles/SB10001424052702303759604579093412425492826 http://www.wsj.com/articles/SB100014240527023037596045790934... Grant Space: What resources are available for setting up a scholarship fund? - http://grantspace.org/tools/knowledge-base/Funding-Resources/Individual-Donors/scholarship-funds http://grantspace.org/tools/knowledge-base/Funding-Resources...
  - 11y ago
grecy 11y ago
It's almost like American's are crying out for a nation-wide system where college is funded for everyone. In Australia, everyone that wants it gets a tax-free, interest-free loan for university, which is something around $5k/year for tuition (My 5-year engineering degree was $22k). You only have to pay it back if you earn over $45k/year, and you just pay a few extra percent tax until it's paid off. If you're short on money for food/rent, you will be paid that too.
- refurb 11y ago
  The US ain't all that different. It's more complex, but it's possible to get deferred interest loans, interest paid by the gov't and income-based payments. That said, the free flowing money is a big reason why private school cost $200K/yr for a 4-year degree.
  - justinkramp 11y ago
    I'm not familiar with AUS loan mechanics, however, "deferred interest" <> "interest free". There aren't federal 'interest free' education loans in the US that I'm aware of. All the federal programs I see have interest rates of >4%. Granted, it seems like that's a relatively low rate for borrowing money. US federal un-subsidized college loans can accrue interest even if paying interest or principle is deferred. Not at all the same as interest-free. Additionally, with some federal student loans, there are fees of 1 percent and up that are actually removed from the loan amount prior to disbursement that you're on the hook for repaying in entirety. Also your $200k number isn't accurate; unless you're counting room & board which is different matter not directly tied to education. I don't disagree that the availability of funds seems to contribute to the cost of education, but that number is a bit high. From teh google: According to the College Board, the average cost of tuition and fees for the 2014–2015 school year was $31,231 at private colleges, $9,139 for state residents at public colleges, and $22,958 for out-of-state residents attending public universities.

62 points by DarkContinent 11y ago

In New Zealand, the Southern Institute of Technology [1], one of the universities runs a zero-fees program [2]. This, I believe, is funded from local businesses who see substantial benefits from having students around with money to spend. [1] https://en.wikipedia.org/wiki/Southern_Institute_of_Technology https://en.wikipedia.org/wiki/Southern_Institute_of_Technolo... [2] https://www.sit.ac.nz/Fees-Enrolments/Zero-Fees https://www.sit.ac.nz/Fees-Enrolments/Zero-Fees

djrobstep 11y ago
SIT is not a university</pedanticnitpicking>. It is a good scheme nonetheless.

melling 11y ago

“In America, a quality education cannot be a privilege that is reserved for a few.” A few being 65.9 percent. http://www.nytimes.com/2014/04/26/business/fewer-us-high-school-graduates-opt-for-college.html http://www.nytimes.com/2014/04/26/business/fewer-us-high-sch... Then we have that other problem: "Grad-School Loan Binge Fans Debt Worries Graduate students account for 40% of borrowing; many seek federal forgiveness" http://www.wsj.com/articles/loan-binge-by-graduate-students-fans-debt-worries-1439951900 http://www.wsj.com/articles/loan-binge-by-graduate-students-...

afarrell 11y ago
http://slatestarcodex.com/2015/06/06/against-tulip-subsidies/ http://slatestarcodex.com/2015/06/06/against-tulip-subsidies...
- michaelchisari 11y ago
  "As an online discussion of macro-economics grows longer, the probability an oversimplified analogy is offered approaches 1" I'm going to call it Rothbard's Law.
michaelchisari 11y ago
How many of those 65.9 percent can reasonably afford the loans they take out in order to go attend college? Seems to me the issue is loans in general, and that free public university is a proven way to provide education without extraordinarily inflating the costs.
- coryrc 11y ago
  How many of those 65.9 percent are learning something useful to society? Because those that are will not have a hard time paying back loans.
  - cblock811 11y ago
    Unless they go into a useful field like education.
    - coryrc 11y ago
      Mid-career K-12 teachers in WA state make $49-67k per year.[1] Median household income in the WA is $53k.[2] Seems pretty good for single earners to be above half of households for 9-10 months of work per year. [1] http://www.seattletimes.com/seattle-news/education/wildly-varying-teacher-salaries-part-of-state-budget-debate/ http://www.seattletimes.com/seattle-news/education/wildly-va... [2] http://www.census.gov/quickfacts/table/INC110213/00 http://www.census.gov/quickfacts/table/INC110213/00
  - modfodder 11y ago
    It's more accurate to ask how many are learning something that the parts of our society that control the money find useful. Do we really need more computer science graduates making time wasting apps or on demand laundry start-ups? There's plenty of STEM grads having a tough time finding jobs even though they've studied subjects very useful to society (cancer research, neuroscience, etc). And reality can change quickly. I seem to recall back in 1991, as I was starting a Computer Science degree, reading articles about the coming glut of CompSci grads and shortage of jobs. Of course the internet came along and changed that rather quickly. Your position that everyone just needs to major in the right degree is bullshit. If everyone moved to the top 10 in demand degrees then there would be a glut of job candidates and the problem would basically be the same, people just graduating being told their degree is useless and they made the wrong choice. http://www.washingtonpost.com/national/health-science/us-pushes-for-more-scientists-but-the-jobs-arent-there/2012/07/07/gJQAZJpQUW_story.html http://www.washingtonpost.com/national/health-science/us-pus... http://www.theatlantic.com/business/archive/2013/02/the-phd-bust-americas-awful-market-for-young-scientists-in-7-charts/273339/ http://www.theatlantic.com/business/archive/2013/02/the-phd-... http://www.cbsnews.com/news/a-shortage-of-scientists-and-techies-think-again/ http://www.cbsnews.com/news/a-shortage-of-scientists-and-tec... http://www.popecenter.org/commentaries/article.html?id=2701 http://www.popecenter.org/commentaries/article.html?id=2701

devhead 11y ago

so much human in one story, great job Baldwin!

djb_hackernews 11y ago

When I graduated high school I made a list of things I wanted to do in my life. One of them was to start a scholarship for students at the high school I graduated from. A few years ago I first offered the scholarship. It's only a one time $1000 scholarship and my alma mater definitely didn't have the higher ed access issues it sounds like this town did, but one of the criteria is the student CAN'T be in the top 10 of the graduating class. This mostly bore out of the fact that during my awards ceremony the top 10 absolutely cleaned up, some getting full ride scholarships they weren't even going to use. I get you want to reward hard working students but I worked very hard in high school but I just don't think the system I was in was perfect for me and, several years later, I'm contributing just as much to society on average as the top 10 students from my class. My point being, high school isn't a great predictor of future success on a few different levels. If anyone out there has experience starting scholarships for high school students and expanding them, please reach out to me. I definitely have big plans but I could use someone that's done this before.

Nicholas_C 11y ago
I want to start scholarships for students from my high school that are from humble backgrounds and want to attend community college for the beginning of their college careers. Eventually I would like to start a scholarship fund. I haven't really found a lot of good resources for starting a scholarship. How did you go about setting up your scholarship?
- ics 11y ago
  I've wondered the same and finally remembered to search thanks to this story. I'd be interested in hearing the parent's response but it's also a surprisingly easy thing to search. Here are some links: How to Start Your Own College Scholarship - http://www.wsj.com/articles/SB10001424052702303759604579093412425492826 http://www.wsj.com/articles/SB100014240527023037596045790934... Grant Space: What resources are available for setting up a scholarship fund? - http://grantspace.org/tools/knowledge-base/Funding-Resources/Individual-Donors/scholarship-funds http://grantspace.org/tools/knowledge-base/Funding-Resources...
- 11y ago

grecy 11y ago

It's almost like American's are crying out for a nation-wide system where college is funded for everyone. In Australia, everyone that wants it gets a tax-free, interest-free loan for university, which is something around $5k/year for tuition (My 5-year engineering degree was $22k). You only have to pay it back if you earn over $45k/year, and you just pay a few extra percent tax until it's paid off. If you're short on money for food/rent, you will be paid that too.

refurb 11y ago
The US ain't all that different. It's more complex, but it's possible to get deferred interest loans, interest paid by the gov't and income-based payments. That said, the free flowing money is a big reason why private school cost $200K/yr for a 4-year degree.
- justinkramp 11y ago
  I'm not familiar with AUS loan mechanics, however, "deferred interest" <> "interest free". There aren't federal 'interest free' education loans in the US that I'm aware of. All the federal programs I see have interest rates of >4%. Granted, it seems like that's a relatively low rate for borrowing money. US federal un-subsidized college loans can accrue interest even if paying interest or principle is deferred. Not at all the same as interest-free. Additionally, with some federal student loans, there are fees of 1 percent and up that are actually removed from the loan amount prior to disbursement that you're on the hook for repaying in entirety. Also your $200k number isn't accurate; unless you're counting room & board which is different matter not directly tied to education. I don't disagree that the availability of funds seems to contribute to the cost of education, but that number is a bit high. From teh google: According to the College Board, the average cost of tuition and fees for the 2014–2015 school year was $31,231 at private colleges, $9,139 for state residents at public colleges, and $22,958 for out-of-state residents attending public universities.