Written by J.P. Wicklein
Every so often I get letters from my alma mater soliciting me for a donation. I never send them anything. Apparently I’m not alone. Their alumni giving rate is under 20%. Don’t get me wrong, I like the school. It’s a well regarded, highly ranked liberal arts university. I made many new friends while I was there, learned a lot, and grew as a person. Despite that I still don’t want to send them a check - mainly because I’m still paying my student loans.
Once my student loans are paid off, though, I wonder if I’ll change my mind. As an alumnus, why should I donate to my university? I suppose if I gained some level of insight while I was there which enabled me to earn substantial sums of money I’d be more inclined to write them a check. Although I took a lot away from my time there I don’t think I learned anything that powerful. Bottom line: They provided me with a service and I compensated them through tuition. I have some school pride but I don’t see why I would express that by giving them a donation.
What do you think? Why would someone want to donate to their university? Have you ever donated to your alma mater? Answer the poll and add your comments below!
Photo by: Adam Procter
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5 responses so far ↓
1 Ryan@SpillingBuckets // Jan 16, 2009 at 7:53 am
I may later if my finances become out of the world, but I feel that charitable organizations would be a much better place to put time and money.
2 Kelsey // Jan 16, 2009 at 5:41 pm
Forget ‘em! I spent $100k in tuition while I was there. I’ll be paying back those loans until I’m 40. They’ve gotten enough out of me!
3 stefanie // Jan 16, 2009 at 6:41 pm
I was fortunate enough to have my college tuition paid for my multiple merit and need-based scholarships from the school and an outside foundation. In addition, I loved my college a lot. When I have an established career-type job (I’m a grad student working on a PhD now), I do plan on donating to my alma mater, because someone else’s donations helped to put me through school.
4 Financial Fellow // Jan 17, 2009 at 2:51 pm
Stefanie -
That’s a very good example of why someone would want to donate to their alma mater. That makes sense to me. I suspect that if I was in a similar situation I would feel the same.
Thank you for the great comment!
John (Financial Fellow)
5 Financial Fellow // Jan 17, 2009 at 3:00 pm
Ryan -
Yeah, I tend to agree. I’d rather write a $50 check to a charitable organization than my university. In the end I think it will make me feel better. To your other point, if I were loaded I may do something to see my name on a building (okay, maybe just a plaque above a water fountain).
Nice work on SpillingBuckets.com. I gave it a quick look but will dig into it a bit more when I have some time. Nice visuals.
John (Financial Fellow)
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