The donation of $40 million represents an excellent start for the Wisconsin Covenant program, which promises kids a spot in a university or technical college plus financial aid. Program costs, however, remain undefined. One thing is certain: Much more money will be needed.
Great Lakes Higher Education Guaranty Corp., a significant player in the student loan industry, provided the $40 million gift. It's encouraging to see private sector participation. Industry is a prime beneficiary of programs that further educate Wisconsin's workforce.
But when doing the math, it's clear state funding also will be needed.
This year, 17,000 ninth-grade students signed up for the program, which will become available to them upon high school graduation -- provided they earn a B average, take college prep courses, stay out of trouble and perform community service. If only 10,000 of them meet those requirements upon entering college in 2011, it will cost $10 million or more just to provide assistance for one year. As tuition rises, program costs will rise in tandem.
Unfortunately, an effort to allocate state funding isn't on the Legislature's radar. Until the Doyle administration provides financial data, it's unlikely that will change -- despite the program's virtues.
ADVERTISEMENT
The difference between good ideas and productive results rests in the details. Before this concept can more forward, it must be supported by the equivalent of a detailed business plan. With the biennial budget completed, the administration should put its focus on developing this concept to the point it can be presented to lawmakers without reading like a novel missing the last six chapters.
Once supported by data, there should be no reason to deny funding for a program that's so desperately needed to halt Wisconsin's loss of college-educated workers.
