"Book Bank" College Students Textbook-Matched Savings Acc...
"Book Bank" College Students Textbook-Matched Savings Account
Q1: Should the program be limited to students who are academically sound? Students with scholarships or gpa above 3.2 or all that meet the income guidelines?
Idea Description
As a college student for 6 years (2 B.S. / 1 master's degrees) I know exactly how financially strapping it can be to purchase textbooks w/o going into debt. According to a survey by the California Student Public Interest Research Group, college students in California and Oregon spent an average of $898 on new and used textbooks in 2003-2004 school year, the equivalent of 20% of the typical cost of in-state tuition. In 1996, the avg. cost was $642. Other US univ. are no exception. The big idea: have students and families set-up a book bank svgs acct w. US banks. student & parents are asked to save $25-50/mo, the bank in-turn matches the amount saved and issue money towards book purchases.
What will you do if you win $10,000 for this idea?
Infiltrate reputable banks and other business components in order to suggest the benefits of networking with young adults who will leave college to become successful professionals. I'd also like to solicit university's/high schools and local/federal governments across the country in order to help facilitate such an opportunity to students that are college bound. especially those going into medical professions due to the higher cost of textbooks. Students with exceptional grades and scholarships may be eligible for free books offered to them by book vendors and publishers in an effort to reward their studious academic endeavors. This would be a great incentive for kids to work harder.
Vote for it now.
I believe you are on the right track here. Students that have shown that they can be successful in school should be the only people that should be able to get this sort of deal. This way banks will have and incentive for successful educated individual because successful people get bank loans to purchase houses or start businesses.
You may also want to consider an individual's tax break or annual income to be considered into this program. Almost how colleges determine how much financial aid you "need" when filling out the FAFSFA.
After students receive the books that the banks or other financial institutions have assisted in purchasing, the students could decide to donate their used books back into the system for individuals who may not have the GPA to receive the aid needed to purchase books.