It's official. I'm putting together a non-profit fund that will fund student living expenses. Students will be expected to pay back into the fund when they're on their feet, and those funds will then be re-loaned to other students for 0 or very low interest. Details soon.
In other words the reason I’m concerned about a grant is that we’re already so heavily leveraged that we don’t have enough cash to give out as grants. I think a handshake agreement to pay back into the fund when you can is 100% reasonable, as our grads all make $80k+
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Given how uncommon your students are (accepting ISAs!) I’m sure that’s fine. If you aren’t concerned about impacts on the rest of Higher Ed.
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