12/14/2023
It was in the news recently that Ross Stevens, founder and CEO of Stone Ridge Asset Management is withdrawing a gift worth around $100 million to protest the University of Pennsylvania's response to antisemitism on campus and congressional testimony by Penn president Liz Magill.
There are two things I applaud here, and also something that bothers me. First, I applaud standing up against antisemitism, and second I applaud any support of education, especially by those who put their money where their mouth is, so kudos to Mr. Stevens.
The thing that bothers me is the amount of support in so many forms, and in such large amounts for the bastions of higher education, while the foundation of education, K-12, is failing so badly. It has been pointed out that in 100 years we have gone from teaching Latin in high school to teaching remedial English in college. According to the Center for American Progress, somewhere between 40 to 60 percent of first-year college students now require remedial courses in math, English, or both.
The National Association of College and University Business Officers shows 129 colleges and university systems with endowments over $1 billion, with Harvard leading the pack at over $49 billion! These schools already charge their students enough that it takes many of them over 20 years to repay student loans, so I wonder what the justification is for sitting on such large amounts of money? And, why do donors continue to shower them with more?
I know some of the answer - a desire to do good, support education (a wonderful cause), and in some cases, for the recognition and legacy that such gifts provide. There exists an opportunity to accomplish all of this, while having an impact that would rival, if not surpass that of the great Andrew Carnegie.
One gift the size of Mr. Stevens' would ensure the completion of the mission of the Foundation for the Next Generation - to completely reengineer K-12 education and make that education freely available online in formats for homeschoolers as well as brick-and-mortar environments. This would be an education based on what has proven to be successful in the past combined with the latest knowledge and research, and implemented with the latest technology. This would be an education geared to bringing out the best in the individual by helping them to discover their own talents, interests and abilities while allowing them to progress at their own pace. And, this would be an education designed to produce graduates ready to enter the real world of the 21st century, with real-world knowledge and capability.
We would gladly rename the whole foundation for a donor or corporation that pledged $100 million over ten years, and you would be giving millions and millions of children the chance at a real education and all that means to their future and to our society. You just don't get the chance to have that kind of impact anywhere else!
To learn more, go to forbettereducation.org or go here to easily make a smaller donation to help us get the word out https://tinyurl.com/nextgened The world needs this, our children need this, and the benefits will be amazing! Are you listening , , ?
Dedicated to getting kids a better education so they can have a better life!