HOLLAND, Mich. (WOOD) — Hope College is aiming to drastically change its tuition model to a “pay-it-forward” approach. Tuition will eventually be free for students, who will be asked to donate once they graduate.
The pilot “Hope Forward” program will launch this fall with 22 students whose tuition is fully funded by an anonymous donor, Hope announced in a Wednesday release. They will only need to pay for room and board.
Once they graduate, they will be asked to pay it forward by funding other students’ tuition.
Hope President Matthew Scogin has been working towards this new approach since his inauguration in September of 2019. He said the school wants to offer education to students of all backgrounds and to help students graduate debt-free.
The school also believes “the business model of higher education is broken and we want to pursue a more sustainable framework,” Scogin said in the release.
Hope would like to eventually offer fully funded tuition to all of its students. The school will need to increase its endowment to do so, it said, by more than $1 billion.