Student Fees: Income Projections Reflected by Winter 2015 Enrollment
The amount of money being brought in is determined by the student attendance and how much they are willing to contribute per semester and what the Board of Governors will approve. For example, in 2011, Utah State University approved a green fee of 3$ per semester on students. Based on their student enrollment it has been estimated that this would generate a revenue of $90,000 a year (Maffly, 2011). Much can be done with this asset.
Listed below are some of the Wayne State’s possible income figures with different student fees according to Winter 2015 enrollment. Currently 25,619 students enrolled this winter (‘Institutional Research and Analysis Data’, 2015).
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Student Fees
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Dollar Amount
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$1
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$25,619.00
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$6
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$153,714.00
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$12
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$307,428.00
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Figure 7: Total Amount Generated per Student Fee According to Winter 2015 Enrollment
The figure above uses student fees asked in our survey
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Revolving Fund: Income Conclusions Drawn from Comparable Calculations between an interest-free revolving fund to that of a 20% interest-free revolving fund using Simon Fraser University as an example
Simon Fraser University requested $27,000 in their revolving fund called the Sustainable Utilized Revolving Fund (SURF) to replace compact fluorescent light bulbs with 500 LED lamps (Sundmark, 2011). Because the payback is 3.4 years with the yearly savings of $7,900 this suggests that the loan is interest-free.
However, if Simon Fraser were to apply Champlain’s 20% interest, a payback of 120% of that initial amount (the $27,000) would generate $32,400 by the end of the paid date using annual savings. That is an extra $5,400. The yearly savings is independent from the new investment value; thus, the yearly savings generated remains the same. However, in order to reach the new estimated value the payback must be longer.
Key Figures Gathered from Simon Fraser's Figures:
Interest-Free
Asking Value: $27,000
Payback Amount: $27,000
Yearly Savings: $7,900
Payback: about 3.4 years
20% Interest
Asking Value: $27,000
Payback Amount: $32,400 ($27,000 + extra 20%)
Yearly Savings: $7,900
Payback: about 4.1 years (Longer payback for it to reach the new investment)
Difference between the payback amount with the 20% interest and the payback amount with no interest: $5,400
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Hybrid Model: Income Projections Drawn From Combining Student Fees and Revolving Fund
This alternative generates money from student fees per semester and the 20% interest of the asking value from approved projects. The total amount is dependent on the number of students enrolled each semester, the fee amount which students approved, and the asking value the fund gives away using the revolving loan system.
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