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Published Wednesday, February 01, 2012 in Opinion

A HOPE scholarship surtax

Officials of the HOPE scholarship program raised new fears they may not be able to continue current funding rates. Even today, HOPE is incapable of covering all of a student's tuition costs, forcing many to miss out on this opportunity.

HOPE's goal is to provide a college education to all young persons who have shown they are motivated and capable (maintain a "B" average). The idea is that no deserving student should be denied a college education simply because they can't afford it. My opinion is that HOPE is failing to meet this goal.

But why does this program have to be completely free to the recipient? Without a college education, one might expect to earn $25,000 to $30,000 per year. With the college degree, his or her starting salary could be in the $40,000 to $50,000 range, representing an increased earning potential of $15,000 to $20,000 per year.

The solution -- charge a surtax of 5 percent on each recipient's taxable income for the first five years after graduation, or after leaving school if they do not graduate. The graduates would not be repaying the entire amount received, but over the years, would increase HOPE's funding capabilities by 50 percent. The only losers would be those who lose their HOPE funding after only one semester.

If HOPE covers only 75 percent of tuition cost, and nothing else, thousands of deserving students are deprived of the opportunity for a college education. The more HOPE can fund, the greater chance many of those same students have of getting that degree. And if the student is not smart enough to do the math and realize that, even with the surtax, it is still a fantastic deal, then he or she is probably not smart enough to get through college anyway.

Martin George

Newnan