...The program, similar to those in about two dozen states, would set aside $3 million in state money to match private donations. The proposal calls for the state to give $1 for every $1 pledged to a respective university to create endowed positions....
...The state College Board approved Meredith's proposal last week to seek state funds for the program. Meredith said the $3 million would cover the first year of the program.
The proposal calls for each university to get a single crack at the $3 million pool before a second position could be funded.
Meredith said, however, that if there is still money left come spring 2007, the pot of money would be open to any of the schools that could raise the matching funds.
Criteria for exactly how the universities would have to use the money have yet to be worked out, he said, but he expects rules will limit it to certain areas at each school.
"We'll try to focus on areas of need for the state rather than just saying anything goes," he said....
I think one of the main sources of private funds should be the "stakeholders" in the university,the college professors. They will be the main beneficiaries and should jump at the opportunity to donate.
Use the money to keep the profs we have now..for raises.
Waste of money. Someone should start a PERS timer. MS has about 9 more years running on the old retirement system. After that, then maybe raises might raise retention on faculty. That's assuming there are any staff members left.
lemur wrote: Athena wrote: Use the money to keep the profs we have now..for raises. Waste of money. Someone should start a PERS timer. MS has about 9 more years running on the old retirement system. After that, then maybe raises might raise retention on faculty. That's assuming there are any staff members left.
I'm not sure what you mean by "9 more years running." Could you explain?