Non-issue feature: Money

This week we discussed issues that should be non-issues. Money is one of them.

By Steven Ruggles

When applying for scholarships, financial need is a  non-issue.  Scholarships should be based  on a student’s academic ability, not  on their inability to support themselves financially.

When an organization  makes financial need a requirement in  a scholarship they are, in effect, providing  a disincentive to becoming financially responsible.   I would argue that students who can  prove that they are responsible with money  should receive benefits.

What we see  is quite the opposite.  Scholarships that  factor in financial need are rewarding  students who have proven their lack of  strategy in long term budgeting.  A  query: When deciding which of two companies  to invest in, which one gets your  money?  The one that clearly displays  profitability or the one that is in  dire straits?  You can put your money  where you want; I’m investing in the  sure thing.

The obvious objection to my stance is to bring  up the case of the student who could not save any money because their family  needed any and all income to meet  their current needs.  Fair enough. These students (providing they are capable  academically) should absolutely be provided  with options like student loans but it  should also be noted that these students  are rare.  The issue is that a  student with a 3.9 GPA and all the  volunteer experience in the world is penalized  for not being broke.  What if society  worked like this on a larger scale?  That is, what if those who were not  doing well as a result of lack of  effort were given unearned rewards.  Where  does that leave the intellectuals and  the truly productive members of society?

Essentially the  argument is that those students who excel  need to stand up and fight to eliminate financial need as criteria for scholarships.  Not because those with financial need  are always less deserving, but because  requiring financial need is encouraging irresponsibility. If today’s students are to lead in the future they need to be rewarded not for their vices, but their virtues.