Hope College aims to change their tuition model.
Hope College will drastically change their tuition model to a "pay-it-forward" approach.
Hope President Matthew Scogin, said they have been working towards this new approach for some time.
The pilot "Hope Forward" program will launch this fall with 22 students whose tuition is funded by an anonymous donor. They will only need to pay for room and board. Tuition will eventually be free for students who will be asked to donate once they graduate.
The school also believes "the business model of higher education is broken and we want to pursue a more sustainable framework," Scogin said in the release.
The school will need to increase its endowment by more than $1 billion if they are to eventually offer fully funded tuition to all of their students.
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