Met with the Michigan Giving people and was thinking about the following scholarship for which I would contribute $100,000 to pay for tuition for kids who meet the following attributes.
Top 10% SATs (so they are smart)
Top 10% GPA (so they work hard)
Bottom 10% Income (so this is their only chance)
Michigan kicks in another $100,000 to match, so it's $200,000.
One if the biggest problems in America is our inability to tap and develop human capital. As it turns out, about 96% of poor students with SAT's over 1200 don't apply to selective schools, but about 96% of rich students with SAT's over 1200 do apply to selective schools. That's insane.
http://www.thedailybeast.com/articl...in-what-about-those-who-don-t-even-apply.html
According to the College Board, there are 27,000 of these students in the United States (70% white, 30% minority FWIW). The scholarship would be Race Blind.
Potentially what's cool about this is that because the parameters are well defined and precise, it can be socialized with other donors both at Michigan and at other schools so it capitalizes on school pride. For example, Dan Loeb can set up something at Berkeley. Also, it can be communicated over social media, through churches, community centers, etc. so that we can reach kids directly. Because it's Race Blind and is based on pure merit, it should appeal to both sides of the political aisle.
If you got enough people to do this, then poor kids would potentially know that if they worked hard, did well, they can get a full ride at a great school. Of course, the truth is that any kid who actually met these requirements would already get a free ride at most schools, but the key is to get them to apply - and hopefully this would help.
I know the standards are rigorous and bottom 10% is really really poor (my parents made under $10,000 a year and we weren't even in the bottom 10%), but if anybody deserves a helping hand, it's these kids.
Thoughts?
Top 10% SATs (so they are smart)
Top 10% GPA (so they work hard)
Bottom 10% Income (so this is their only chance)
Michigan kicks in another $100,000 to match, so it's $200,000.
One if the biggest problems in America is our inability to tap and develop human capital. As it turns out, about 96% of poor students with SAT's over 1200 don't apply to selective schools, but about 96% of rich students with SAT's over 1200 do apply to selective schools. That's insane.
http://www.thedailybeast.com/articl...in-what-about-those-who-don-t-even-apply.html
According to the College Board, there are 27,000 of these students in the United States (70% white, 30% minority FWIW). The scholarship would be Race Blind.
Potentially what's cool about this is that because the parameters are well defined and precise, it can be socialized with other donors both at Michigan and at other schools so it capitalizes on school pride. For example, Dan Loeb can set up something at Berkeley. Also, it can be communicated over social media, through churches, community centers, etc. so that we can reach kids directly. Because it's Race Blind and is based on pure merit, it should appeal to both sides of the political aisle.
If you got enough people to do this, then poor kids would potentially know that if they worked hard, did well, they can get a full ride at a great school. Of course, the truth is that any kid who actually met these requirements would already get a free ride at most schools, but the key is to get them to apply - and hopefully this would help.
I know the standards are rigorous and bottom 10% is really really poor (my parents made under $10,000 a year and we weren't even in the bottom 10%), but if anybody deserves a helping hand, it's these kids.
Thoughts?
