The Three Percenters: Education for All (Eventually)
A global student network whereby financially disadvantaged students have their tuition paid in exchange for agreeing to give 3% of their salary every year for life back to the fund.
This should theoretically allow for an increase in jobs (more entrepreneurs) and more educated to fill them, bolstering the currently-lacking labor markets in developed nations.
Once the fund becomes self-sustaining growth should accelerate into the long run and thus allow for strong organic growth or expansion into MOOCs for primary and high schooling.
To keep it simple - educated people are more likely to create and fill jobs. Although this two sided market is working well well in developed countries the cost of education (along with the subjation of women) leaves this market in developing countries vastly unsupplied on both sides. The idea behind The Three Percenters looks to solve this problem in the long run by fostering a global borderless fellowship who cover each others costs as outlined in the summary. It may also be a good idea to have a social network for alumni and students to stay connected.
For approximately the first decade the fund will rely on donations but once self-sustaining the fund should theoreittically accelerate with more alumni and will use any surplus funds (not required for current tuition commitments) to either:
a. Expand the original program, funding the college education of more students, working towards the goal of no one going without a college education due to finances
b. Move laterally into primary and secondary education via MOOCs; relying on both mobile and computer networks (as we spoke about in research). It would be incredible if we could get sponsorship from a stable of tech companies for this so TTPs can focus on their primary goal as a specialized organization.
I certainly think that "b" (the lateral expansion into MOOCs) is important as The Three Percenters wouldn't initially address the issue of getting to a level where you can even apply to college. Therefore in its current form it is in the unfortunate position of addressing the somewhat needy before it addresses the very needy.
This is just something that I've just been thinking about this for a few hours so I'm sure it has plenty of holes but I'd love for you guys to build upon it!
Who does this idea benefit, who are the main players and what's in it for them?
This benefits financially challenged would-be college students in allowing them to get an education and get the college experience, former college students who are looking to give back to those in similar positions and colleges themselves through getting more custom!
As it expands it could also hopefully children who require a primary and secondary education, both through the provision of MOOCs and by providing communities with a light at the end of the tunnel should they work to motivate their children to college-entry-level.
How is your idea specifically increasing access to employment opportunities and pathways for young people?
It feeds both sides of the labor market - increasing the provision of jobs by graduating more entrepreneurs and by increasing the number of qualified graduates to fill those positions. This should give developing nations a healthier, more robust labor market akin to that of developed countries.
What early, lightweight experiment can you try out in your own community to find out if the idea will meet your expectations?
This is a good question and would love for you guys to weigh in. So far I can only think of more detailed financial projections to figure out how long until sustainability. As well as surveying potential donors and tech companies (as potential MOOC sponsors).
What skills, input or guidance are you keen to receive from the OpenIDEO community to help you build out or refine your idea further?
There are several large administrative, financial and legal hurdles to this model; it will need guidance in pretty much every area. I would be very grateful if people could have a read through and lend their advice upon whatever aspect their most comfortable with.
How do you envision your idea being implemented?
I'm more throwing the idea out there to inspire potential implementers