Problems In Financing Education - Assignment Example

Problems In Financing Education Introduction The current recessionary trends and the general atmosphere of doom and gloom in the USA have affected each and every sphere of the economy. Education is no exception. We have seen cutbacks in State funding and reduction of unnecessary expenditures to keep both private and State-run institutions afloat. In the given scenario, I am working at a medium-sized state university as the Program Chair for Developmental Education, offering remedial reading, writing, and math classes needed by students who do not qualify for college-level English and Math classes based on their placement test scores. Students do not pay tuition for these courses- however, there is generally a backlog of 2000 students for which these classes must be held. The rest of the paper will deal with different strategies to be adopted for dealing with this problem. Discussion A preliminary analysis of the breakup of 2000 students based on past records show that the bulk of the students need make-up coaching in Math- there are two sections with a seating of 1400 students, comprising 70 percent of the total 2000 students. As compared to this, there is just one section each for Reading English and Writing English respectively and that in turn comprises 10 and 20 percent of student total. At the moment the teachers are not paid any additional amount for these classes. Meanwhile, you have just been informed that there has been a 10 percent cut in funding and must find ways to deal with this new reality. Strategy 1 My first strategy would be to increase revenues for these classes by charging additional amounts for the use of school facilities like the basketball court, swimming pool, the computer lab and the science laboratory. This would form a broad base for earning additional amounts and moreover could be implemented for the long term without many negative effects. Using facilities such as the pool, the science lab, and the basketball court could be made optional but the use of the computer lab would be fundamental for all disciplines. A letter written to all parents stating the inevitability of these measures would have to be prepared, stating the additional amounts to be charged and expected date of implementation (Meisinger, 1994). It would also be mentioned that a lot of private schools have adopted this policy in the past, out of sheer necessity and in order to keep up with the rising costs of education. Strategy 2 My second strategy would be to hire part-time faculty comprising of retired English and Math teachers and professors from the local community to take these classes, aided by the adjunct staff for administration etc. This group of retired teachers and professors represents a readily available resource pool that is often unused by our communities. The compensation offered would be minimal and many would be grateful for an opportunity to make a contribution to the institution even after their retirement. This would also have a favorable impact on the school, principal and the teachers involved. Strategy 3 I would also try to raise revenues by asking philanthropists like Warren Buffett, Bill Gates, Larry Page, Sergey Brin and Mark Zuckerberg to support the cost of teaching a class for the entire duration of a particular make-up session. This would include the salaries of teachers as well as other incidental and administrative costs. Since there are five classes in total, this could be achieved comfortably. The name of the contributor would be emblazoned on the door of each class and a photograph of the door as well as the class in full session sent to each contributor as a sign of the good work they have done by sponsoring this course (Sorenson & Goldsmith, 2006). It would similarly be good for the principal, teachers, and students involved in the project. Strategy 4 Often the students lose interest because the regular teachers are in a hurry and do not have time to give individual attention and guidance to a backward student. One cost-effective way of getting this objective accomplished is to have a group of 20 students needing makeup classes placed under the guidance of a smart or A-grade student in the respective subject. Of course parental and school consent from the principal will have to be taken prior to implementation. It will place a lesser burden on the teachers and administration and maybe students will be helped in communicating and understanding their areas of deficiency by dealing with their peers rather than an adult. Strategy 5 My last and final strategy would have the parents of the students requiring makeup classes contributing to the costs individually. This makes sense since they would contribute only if they were really interested in getting their sons and daughters ready to attend college and university. They would have to consider the costs of financing the continuing education of their child through college as well. Research has indicated that a person who has completed a college or university degree in his or her area of work earns at least $2000 more per year than an equivalent high school dropout. When you add it up over a lifetime, it really makes a difference. Taking ownership for their children's education and helping out in times of crisis is one of the best steps parents can take and it would put less pressure on the teachers, principal, and others involved with these classes. Recommendation I believe that Strategy 2 or Strategy 5 would be among the best strategies to implement as they have the greatest chance of success. If funds do not come through from the philanthropists, then we have no option but to use the self-funding route and settle the issue. Quite clearly the parents have a big stake in their child’s education and would ordinarily spare no effort in coming up with the funds needed to pay for these makeup classes (Poston, 2004). Their faith in their child and conviction that paying this cost would open the door to a good college and university education is enough to ensure that it would pay handsome dividends in terms of jobs and earning capacity in the future. Conclusion We have seen through this paper how funding the cost of education in times of budget cutbacks have become a reality and a necessity. Five different strategies have been suggested, as well as recommendations made. Using these approaches to funding education in times of need is a pragmatic way to deal with this problem. References Meisinger, R. J. (1994): College and University Budgeting: An Introduction for Faculty and Academic Administrators. Washington, D. C.: National Association of College and University Business Officers. ERIC Document Reproduction Service No. ED 378 911. Poston, W.K (2010): School Budgeting for Hard Times: Confronting Cutbacks and Critics, !st ed. Corwin Press, USA. Sorenson, R.D. & Goldsmith, L.M. (2006): The Principal’s Guide to School Budgeting, Corwin Press, USA. Read More