Putting Ingenuity to Work

As the economy continues to show signs of distress--we lost over 500,000 jobs last December alone and unemployment exceeds 7% --those of us in higher education are looking for ways to stay strong in these thorny times.  Here are just a few ways institutions have put their ingenuity to work:

1.      Kent State University (my alma mater) is offering free tuition to laid-off workers.

2.      Merrimack College recently mailed 15,000 postcards announcing what the school deemed some "economic good news" -they would not raise tuition or room and board charges next school year.

And colleges and universities are not alone; students are also thinking "way outside the box." Check these out:

1.      After receiving an acceptance to NYU, one student invited virtual strangers to subsidize part of his education. Here's his plan: "He'd get 10,000 strangers to donate $2.50, $3.50, or whatever they could afford. To thank them, he'd send a piece of his graduation cap or gown. Within weeks donations poured in from the U.S, Nigeria, Spain, and many other countries. As of earlier this month, he has raised $11,000, more than enough to finance his first semester."

2.      Other students have created peer-to peer lending sites where "needy students can solicit anyone--friends, relatives, coaches, strangers--to 'sponsor' their grades. The better students score, the more tuition money they'll receive."

These are just a few examples of what schools and students are doing in these challenging times.  We need to ask ourselves the all-important question: what are we doing, at our own institutions, to navigate through the economic downturn?

Jeff Papa

President and Partner

SimpsonScarborough