The Washington State Legislature is currently considering a proposal to establish a $500 million public-private partnership to enhance the quality of higher education in Washington. Sponsored by Sen. Jeannette Wood (R-Woodway) and Rep. Larry Sheahan (R-Spokane), all 38 of Washington’s public colleges and universities have endorsed the bill.
The proposed Endowment for Higher Education would match $250 million in state funds with an equal amount to be raised through private donations. The program would create permanent endowments at each institution, from which only earnings would be spent.
The funds would be used to improve the quality of higher education programs in Washington by supporting undergraduate scholarships, graduate fellowships, distinguished professorships, library resources, equipment, faculty teaching awards, innovative approaches to faculty development, and initiatives for curriculum development and off-campus classes.
As Columns went to press, lawmakers were considering legislation that would put the proposal on the books but with no funding for this session.
“The Endowment for Higher Education is an investment in our future,” said UW President Richard L. McCormick. “We have the ability through a creative public-private partnership to help ensure high quality educational opportunities for the citizens of this state, their children and future generations. What better legacy can we leave than to provide the educational margin of excellence to help this state remain competitive in the future?”
McCormick told a Nov. 13 press conference that “regions where state government, higher education and the private sector work most closely together will be the ‘winners’ of the 21st century. By its very nature, this proposal automatically creates and fosters those relationships.
“It doubles the state’s money and it has no ongoing, programmatic costs. It makes no change to Initiative 601,” he noted.
The proposed endowment would be created by a state appropriation of $250 million. Each institution would be eligible for a defined share of the state appropriation. Institutions would have five years to raise the private matching money.
Establishing the endowment can be done with a one-time state expenditure. Once created, the initial endowment fund would not require any ongoing state appropriation.
The institutions are the University of Washington, Washington State University, Central Washington University, Eastern Washington University, Western Washington University, the Evergreen State College, and the Washington Association of Community and Technical Colleges.
Alumni interested in supporting higher education efforts in Olympia should contact Huskies for Higher Education at (206) 616-9116.