Okay, so this is my blogsite for more serious thoughts, I'll pitch my idea here. I've been thinking about, coddling, and developing this idea in my own head going on about a year and a half now. And now, as it becomes more solid in my mind (the concepts, not the practice of) I will share it with you who read my stuff here.
I have contemplated starting up a corporation of my own. Not a tradition business so much as a philanthropic corporation. It all started with my Godmother, Kim, who received financial help for college expenses, under the condition that she pay it forward by helping someone else out with their education related expenses. My sister and I were the beneficiaries of this. I would like to do the same thing. Now helping my kids technically qualifies, which I am slowly doing on my own, but I want to take it all a step further.
I would like to set up a team of people who raise funds, creating a huge superfund, in which we provide low and lower-middle income kids with money for college. With tightening restrictions on school loan eligibility and availability, some people could very well need extra places to look for money. My team of marketing geniuses would be presented with a huge challenge in raising money on literally no budget, at least to start. For their efforts they would be rewarded. Instead of some meager payscale regardless of how much they raise, I tie their salary into the efforts. I would give them a base 10% of their individual efforts, with bonuses tied into the structure for achieving great results. I haven't finalized yet the bonus structure, so don't ask yet. We have time, as I havent filed for incorporation yet anyways (which I would name the company after my godmother)
Now, for the people who we would help. We would provide these potential students with the necessary money to pay for their schooling, be it a 2 yr tech school, community college, or a full 4 year degree. Initially it would be a loan, that as with most loan programs we would ask for repayment back into the system to help provide for other like kids in the future. However, they have a chance to earn the loan into a scholarship, by achieving a degree with a certain GPA (I am thinking 3.75 and above, but that's negotiable at this point). Also, for all loans, instead of charging some interest rate, we eliminate the interest altogether, making repayment limited only to the amount borrowed.
I was also thinking, that with a certain amount of money, I can figure in the costs to cover "x" amount of people per year, with essentially 5 years worth of students receiving payments at any given time, having funding great enough to support it almost, if not entirely, on interest gains alone. If this is confusing, just ask, I'll lay the details out on paper for you. With enough funding, in addition to paying for college costs, community service projects might be able to be included, whether it is for field trips for students, grammar/high school supplies, or something else. I guess, if it gets that big, I'll need some leaders of people to help me decide how extra projects, if they can be supported, would be decided upon.
And.....for those who insist on government funded things like healthcare or whatever, I can stay for-profit, and pay the taxes on it all as well....heck I don't know. We'll decide that later when I decide to file for incorporation. But, until then, I'm looking for motivated people who want a challenge to help me realize this dream of helping others (with voluntary donations) to take steps towards achieving their dreams.
To those of you who made it this far through, thanks for listening to a crackpot idealist drone on for a few minutes.