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The GREAT Scholarship

Greens unique opportunity to provide opportunities for its kids


What is GREAT?

Provides $2,500 scholarships to first-generation college


students
Students have to live in Green
Have to attend Green Local Schools for at least two years
Have to graduate from Green High School
Have to carry a cumulative 2.5 GPA in High School
Receive the $2,500 for each of their years in college,
whether two or four-year institutions
Have to maintain consecutive enrollment and 2.5 GPA in
college
What is GREATs Cost?

Budgets $100,000 first year


Assumes 40 students receive the
Scholarship
Will likely be fewer
Who Grants the Money?

GREAT Scholarship Board


Five members
Three from city, two from GLS
Board has authority to establish
procedures to apply and grant the money
how they see fit (direct to student or
school)
Why do the GREAT Scholarship?

First Generation students are most at risk for


never starting or completing college
Cost is a primary reason
Over the course of the GREAT Scholarship, the
City of Green would be providing a little more
than one years tuition at Kent or UA
The money will make a HUGE difference for our
students
Why do the GREAT Scholarship?
Overall economic benefit to students AND the community
Why do the GREAT Scholarship?

Not going to college costs you


$500,000 over your lifetime

http://science.sciencemag.org/content/344/6186/843.full
Why do the GREAT Scholarship?

https://trends.collegeboard.org/sites/default/files/education-pays-2013-full-report.pdf
Why do the GREAT Scholarship?

https://trends.collegeboard.org/sites/default/files/education-pays-2013-full-report.pdf
Why do the GREAT Scholarship?

https://trends.collegeboard.org/sites/default/files/education-pays-2013-full-report.pdf
Why Do the GREAT Scholarship?
More than just economic benefits
More than Economics

The likelihood of reporting health to be very good or


excellent is 44 percent greater.
The likelihood of being a regular smoker is 3.9 times
lower.
The incidence of obesity and heavy drinking are
significantly lower.
The likelihood of exercising, having a healthy diet,
wearing seat belts and seeking preventative medical care
are significantly higher.
The incidence of a disability making it difficult to live
independently is 3.6 times lower.
More than Economics

Life expectancy at age 25 is seven years longer (for those


having at least some college compared to those never
having gone to college).
Reliance on expensive forms of banking and credit is
significantly lower.
The probability of being in prison or jail is 4.9 times
lower.
The probability of being married is 21 percent higher and
the probability of being divorced or separated is 61
percent lower.
The likelihood of being happy is significantly higher
Social Benefits as Well

Lifetime taxes are, conservatively, $273,000 (215 percent) greater


in present discounted value.
Lifetime government expenditures are about $81,000 (39 percent)
lower in present value.
The lifetime total fiscal effect is roughly $355,000 in present value.
Crime is significantly lower.
Volunteering is 2.3 times more likely.
The estimated value of volunteer labor is 4.1 times ($1,300
annually) greater.
Employment in the nonprofit sector is twice as likely.
Social Benefits as Well

Annual cash donations to charities are $900 (3.4 times) higher.


Total philanthropic contributions are $3,600 (4.7 times) higher.
Voting and political involvement are significantly higher.
Participation in school, community, service, civic and religious
organizations is substantially (1.9 times) higher.
Leadership in these organizations is particularly (3.2 times)
greater.
Attendance at community meetings is 2.6 times greater.
Neighborhood interactions and trust are significantly higher.
First Generation Students More at-risk to
Not See these Benefits
Percent of Students Enrolled Immediately after High School
90

80

70

60

50

40

30

20

10

0
College Educated Parent(s) Some College High School or lower

https://www.brookings.edu/blog/the-avenue/2013/11/12/the-economic-value-of-education
First Generation Students More at-risk to
Not See these Benefits
Disproportionately overrepresented among most disadvantaged
groups
More likely to delay college entry, need remedial coursework,
and drop out of college
Report lower educational expectations than their peers as early
as 8th grade
Often begin college less academically prepared than other
students
Are less likely to take algebra, considered the gateway to
advanced math courses in high school and associated with 4-
year college enrollment

https://www.brookings.edu/blog/the-avenue/2013/11/12/the-economic-value-of-education
First Generation Students More at-risk to
Not See these Benefits
Are less likely to take college courses in academic areas
such as mathematics, science, and computer science and
more likely to focus on vocational/technical fields
Tend to apply to and attend less selective colleges that
are closer to home
More likely to work while in college and live off campus,
negatively affecting college academic and social
integration outcomes
Are not more likely to receive help from their schools in
applying to colleges

https://www.brookings.edu/blog/the-avenue/2013/11/12/the-economic-value-of-education
First Generation Students More at-risk to
Not See these Benefits

From 1980 to 2013, workers with no


college have seen a net loss of 9.3
million jobs in the manufacturing
sector.
But workers with at least some college
have seen a net increase of 2.5 million
manufacturing jobs.
https://www.brookings.edu/blog/the-avenue/2013/11/12/the-economic-value-of-education
GREAT Scholarship Makes a Big Difference!
Would Cover Significant Portions of College Costs for Students and Families Least
able to Cope

https://www.brookings.edu/blog/the-avenue/2013/11/12/the-economic-value-of-education
GREAT Scholarship Makes a Big
Difference
State funding for public institutions has declined since
the 1980s
Today, students and their families are contributing a
greater share of college revenue than a generation ago,
while the share borne by states and local government
funding has fallen sharply
Tuition constitutes twice the share of college revenue as
20 years ago

https://www.treasury.gov/connect/blog/Documents/20121212_HigherEducation_ExecSumm_vFINAL.pdf)
GREAT Scholarship Makes a Big
Difference
State funding per student also declined over this period,
to $8,655 from $10,726 per student.
In-state posted tuition at public four-year institutions
rose an average of 67 percent between 2000 and 2011
after adjusting for inflation.
This cost shift from states and local governments to
students and families has contributed to the sharp
increase in student lending over the last decade.

https://www.treasury.gov/connect/blog/Documents/20121212_HigherEducation_ExecSumm_vFINAL.pdf)
GREAT Scholarship Makes a Big
Difference

https://www.ohiohighered.org/sites/ohiohighered.org/files/uploads/data/statistical-profiles/FY17_Tuition_and_Fees_Survey_FINAL_0.pdf
GREAT Scholarship Makes a Big
Difference

https://www.ohiohighered.org/sites/ohiohighered.org/files/uploads/data/statistical-profiles/FY17_Tuition_and_Fees_Survey_FINAL_0.pdf
GREAT Scholarship Makes a Big
Difference

https://www.ohiohighered.org/sites/ohiohighered.org/files/uploads/data/statistical-profiles/FY17_Tuition_and_Fees_Survey_FINAL_0.pdf
The GREAT Scholarship
A Great Opportunity
The GREAT Scholarship is a Great
Opportunity
Previous Mayors and City Councils have been
fantastic financial stewards of our community
We regularly have $4-5 million remaining in our
GRF each year
Taking between 1.5 percent and 2.5 percent of
that surplus will ensure that as many as 100
students in Green will have opportunities for
future success
The GREAT Scholarship is a Great
Opportunity

Annual, fully funded cost will


be paid for if just one student
graduates college that
otherwise wouldnt have