© The Indian Express Pvt Ltd
Tags:
Journalism of Courage
With the cost of higher education in the US rising steadily, California-based USC Marshall School of Business is taking concrete steps to support Indian students through expanded scholarships. Aimed at attracting philanthropic funding for scholarships for students, the university has plans to set up a not-for-profit initiative in India.
In an exclusive interaction with The Indian Express, Geoffrey Garrett, Dean of USC Marshall School of Business, emphasised that increased scholarship support helps attract high-quality students from a broader cross-section of the population, as ‘ability-to-pay’ is no longer the primary filter for admissions.
Elaborating on ways to ensure such support, Garrett spoke about plans for establishing a not-for-profit in India, which would make it easier to attract philanthropic funding for scholarships. “That, in turn, would enable more students from across the socio-economic spectrum to study in the US. It is a win-win — for the students and for institutions,” he said, adding that the cost of pursuing higher education at the USC Marshall School of Business is close to half a million dollars, including tuition, living expenses, and other costs.
Noting that the historical funding pattern of government scholarships is declining, Garrett said, “The dollar has been depreciating against most global currencies, but not in case with the Indian rupee. We recognise that more scholarships are essential for international students, including those from India. Increased scholarship support would not only make education more accessible but also allow us to diversify the talent pool.”
Stating that the upcoming scholarship support venture in India will soon be announced officially with all details, Garrett explained the model with an example of such an initiative already taking shape in Indonesia, where the university has a great alumni base.
“The members are committed to supporting the university as well as to giving back to their country… What we have seen is that the most effective way to encourage philanthropic support is through a win-win model. The university benefits by attracting top-quality students, while donors feel that they are contributing to the development of their home country. And that’s the Indonesian case; which is without the tax incentives that exist in India,” said Garrett.
He added that looking ahead, the university plans to offer more scholarships to international students, while also deliberating on boosting its presence and partnerships in India.
