What if good students went to College for free? What would happen?...?

Question

What if good students went to College for free?

Imagine if a college like Rutgers University offered a merit based refunds to it students that got good grades. If you earn a 4.0 g.p.a, you get a 100% refund on your tuition. Something like:

Refund%=100*[G.P.A.]-300
(i.e. a >3.0 g.p.a. gets you a 0% refund)

What kind of impact would this have on:
-The College
-The Student
-The Public &
-The World

I proposed this question in one of my classes, I'm a Economics & Sociology major so I have my own ideas, but interested in new/different/creative ones.

This goes to any student already accepted and enrolled. Any grade below a 3.0 still pays full price, and the "discount" increases from there:

3.0 -> 0% discount
3.1 -> 10% "
3.2 -> 20% "
...
4.0 -> 100% discount

Answer 1

First off--a 3.0 GPA is incrediblly low and average. If you want to offer a free admission, offer it at 3.6 or above--honors students. A 3.0 GPA will barely get you into college. Better yet, START at a free ride at 4.0 and give a DISCOUNT for every lower GPA.

Also, what about the ACT/SAT? How would that play into the role?

I think it's a concept that's worth developing.

Questions:
1) Who would fund this program? Colleges make money off of tuition, so would they limit these free admission "scholarships" to students? Will that cause them to raise room and board?

2) What stipulations would be on this program? Would they have to maintain a 3.5 or better? Would they have to take at least 13 hours?

3) How would this affect financial aid? How would this affect the quality of classes if professors are not paid as much?

4) What would happen to sport scholarships? Would the program be supported by the college or the government?

5) Would there be limits? A student going to Yale is going to have a better advantage than a student who goes to Kansas State University! Could there be a cap on the amount? If not, how will this prevent everyone from applying to private colleges thus forcing state schools to blow away?

I think one thing you need to remember is that we don't have unlimited resources here. How will you keep students interested in cheaper in-state schools?

What about international students? How will that be handled? If you're a foreign exchange student, what happens?

I'm not going to do your homework for you, but these are the first things that pop into my head.

Answer 2

You are a econ major and I am accounting major, two different worlds.

It is creative but I dont think it can be sustained unless you raise tution. Without tuition increase not enough revenue will come in to pay for various operating and capital expenses. Now raising tution is like raising taxes, if you go above the optimal curve, it might discourage students from attending a university.

The positive that can relate from your idea is that the university in response to your policy can raise the grading standards, which might make it difficult for people graduate.

I think you should try to figure out why tuition rates rise beyond inflation. I have called my university and they say "health care has gone up thats why" well I say you and I as college students should try to figure out how we can use free markets to keep college affordable. Also does to much financial aid actually increase tution rate, as a econ major I think you can answer that question more wisely then I can.

Answer 3

I live in Canada. A few of my friends have written the S.A.T test and done well. One college in Iowa gave her a full ride scholarship to attend there school for free. I think its great, her family could probably never afford to send her there. Another friend was valedictorian of our school, he was given a good amount of money to attend university here in Canada. He eventually ended up getting an academic probation, all he did was drink in party during the semester. It does sound like a great idea to send students to college. It just matters how much they appreciate it. As a student myself, I would love a break on the cost to go college, university. It costs way too much, and causes huge amounts of debts.

Answer 4

you probably did no longer specify how the gadget could be financed, so i'm assuming greater tax funds could pay for the gadget There could be grade inflation at faculties on the grounds that instructors could be greater reluctant to offer out undesirable grades and reason pupil to drop out of faculty by way of fact of economic hassle. The administration could agree by way of fact the greater funds obtainable for training the greater the college ought to soak up, so there could be a small training improve, yet no longer sufficient to conceal the fee of this methodology scholars could grow to be much greater grade mongering, averting "puzzling " matters. it could in all probability improve cheating additionally. Incentives remember. the traditional public could pay greater taxes to assist the gadget. If the fee got here from training will improve it could shrink the form of pupil enrolled in school common by way of fact of probability aversion, yet teaches and scholars could have an identical incentives yet directors would not and could attempt to hold down grades inflation..

Answer 5

It's called a scholarship!
But how would colleges pay their teachers?

Answer 6

Like all companies registered . They all want to make profit .