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Drive For Green Results for Cost

Page history last edited by Erik Kaptanowsky 8 years, 1 month ago

Ryan and Erik


Alternative 1: 'Green' Student Fees Implemented Apart From The Student Tuition


Material Cost:

  • This added fee will cost the students a little extra apart from their student tuition
    • The amount of money depends on how much the students are willing to contribute
    • Through the survey, of the students willing to pay a fee, most chose the $8-$12 option. With around 31.500 students enrolled at Wayne State, the fee would bring in around $252,000 and $378,000 if implemented.   https://www.cappex.com/colleges/Wayne-State-University
    • Many universities have already implemented this program. Western Michigan University adopted a sustainability fee. Students convinced the Board of Trustess to create the $8 per semester, $4 per summer session fee in early 2010 and about $75,000 is available for three accounts. The Student Sustainability Grant, the Survey Implementation and Ongoing Projects fund, and the Green Jobs fund. The remainder of funds generated by the fee are used to supplement the Office for Sustainability's general operating fund. http://wmich.edu/sustainability/grants/sustainability-fee-explained http://greenbillion.org/case-study/western-michigan-university-quasi-revolving-fund/ (revolving fund)
    • Appalachian State University also created a student fee for sustainability.  Students at Appalachian State University supported a $5 per semester increase in student fees to fund the installation of renewable energy technologies on campus. The fee generates between $120,000 and $150,000 annually.


Time and Management Cost:

  • This requires proper allocation of the money (how it should be distributed)
  • This will require someone to monitor how much is being brought in per year
    • Annual performance report 





Alternative 2: The Self-Revolving Fund


Material Cost:

  • This will require some of the initial assets the university had been using for other parts of the school to be used to start the fund rather than how it had been previously used.
  • Depending on the fund requirements, the projects may need to pay back more than just the fees borrowed in order to enlarge the fund.
  • American College and University has the revolving fund and some portion of the return or savings is used to repay the fund until the costs have been paid off. Some repayments can include an interest rate or be interest free. http://www.presidentsclimatecommitment.org/node/6566 

Time and Management Cost:

  • This will require termly status reports
    • Progress on funded projects
      • Review on how much is returned in savings 
    • Annual Financial performance report
  • This will also require the establishment of the committee to chose the projects accepted and keep track of money paid and owed. 
    • Their individual roles
    • Their bylaws
      • A covenant between the committee and the College
        • To be sure none of the money is used for corrupted purposes 
      • How often should they meet 
    • Proper approval of projects 




Alternative 3: Hybrid Model


Material Cost:

  • The added fee will cost students the extra amount per semester that is decided upon.
  • At the same time, this will require some of the initial assets from the fund and student fees to be used
  • In some cases, the projects are required to pay back the money borrowed from the fund as well as extra funds to grow the fund further. 


Time and Management Cost:

  • This will require termly status reports for both systems
    • Progress on the funded projects
    • Annual Financial Performance
  • This will also require the establishment of the committee to handle the projects given the money and ensuring the money is handled correctly. 





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