A group of anonymous donors launched Kalamazoo Promise in 2005 to provide full tuition for public school students in the community.
The cost of postsecondary groomingin America has risen so graduate(prenominal)it is unaffordable for many a(prenominal)to pursue the fosteragenecessary for success in this warlikejob market. Individuals who take holdtaken out tens of thousands of dollars in student loans to achieve their dreams can be left to carry the forceof scholarly persondebt.
Imagine instead that we lived in a society where the wealthy voluntarily invested a portion of their cashin education for those who atomic number 18unable afford it. What would our society look like?
While it seems withalgood to be true, this scenario exists as what arcalled "promise programs" in topical anaestheticcommunities around the country. In "The Promise of 'Promise' Programs," a paper by Rodney J. Andrews, assistant professor of economics at the University of Texas, explores the potential of these programs as tools to fund postsecondary education.
[Check out students' vision for a world without scholarly personloans.]
According to Andrews, a cartelchopineis "a local place-based scholarship program that offers near-universal access to sustenancefor postsecondary education."
These programs can be particularly effectivefor students who can least afford to pay for college – and who, therefore, tend to guide onout the most in student loans.
Promise programs differ from merit-based scholarships in four ways. First, the funding is uniquely dependent upon the generous donationof donors. Sometimes, there is a connection between a fussydonor and the community he or she is giving the cashto.
[Kick off student loan repayment with these tips.]
Promise programs are excessivelylocal. The amount of money students receive is contingent upon their years of mansionin the community where the program is established.
Third, promise programs are created with the expectancythat students will inhabitwithin their communities to drive local markets. And finally, contrarymerit-based scholarships, promise programs donotrequire students to meet an academicianbar to qualify, and they therefore enable greater access for more thanstudents.
A paradigmatic example is the Kalamazoo Promise. It was launched in November of 2005 by a group of anonymous donors to pay full tuition for students who resided and attended public schools in Kalamazoo, Mich. Its success and the national attention it received have spurred the creation of similar programs across the country.
According to Andrews, successful promise programs suchas the Kalamazoo Promise are transparent: local students and parents know that money is available for them to enroll in a local postsecondary foundation garmentonce they complete high school. This is an important incentive for students to remain motivated and increase college enrollment.
Promise programs are also easy to understand, a monumentaladvantage for students and parents who lack experience navigating the convoluted college admissions and financialaid process. And they can help create a portentoussupport network.
In an interview, Andrews repeatedly emphasized that promise programs can do worka sense of common responsibility to educate students and, as a result, create stronger communities.
However, promise programs also have significant limitations. Since they are solely dependent upon the support of generous donors, funding may not be stable. And as Andrews noted, they are overmucheasier to fund and implement in small localities versus, for example, densely liveand transient cities.
[Explore the benefits and drawbacks of student loan repayment reform.]
Moreover, promise programs are a novel development, and it is unclear how many communities can restatethem effectively. Communities that want to create promise programs will have to scrape upways to access wealthyindividuals, businesses or other resources adequateto provide stable and long-term funding.
While promise programs are not yet a universally available or incessantlysustainable means to finance a student's higher education, they are not a pipe dream either. Given the high cost of postsecondary education, parents and students should be aware, as Andrews put it, that "promise programs are to be among the portfolio of resources for students to pufffrom." You can find a list of promise programs here.
As always, we also have plenarystudent debt resources you can draw upon. To get the scoop on how you can benefit from programs correspondingPublic Service Loan Forgiveness, register for one of our redundantstudent debt webinars or get a copy of our comprehensive e-book "Take Control of Your Future".
Mai Brand is an operations coordinator with Equal Justice Works'educationalDebt Relief program. She first worked with educational debt relief issues as an confineat Equal Justice Works and is a new-madegraduate of Loyola University Maryland.
If you want to get a full essay, wisit our page: write my paper
Materials taken from US News
No comments:
Post a Comment