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Alaska Gov Proposes Education Endowment

October 14, 2009

Using the interest earned from $400 million in state savings, Alaska Gov. Sean Parnell announced a plan that would provide Alaska high-school students with scholarship funds to attend the University of Alaska or in-state vocational institutions based on academic performance.

The Governor’s Performance Scholarship would be awarded to students based on grade average. Students with an A grade average would receive a 100 percent tuition scholarship, students with a B average would receive a 75 percent tuition scholarship, and C students would receive a 50 percent tuition scholarship.

In an effort to promote college preparedness, the governor’s plan also stipulates that high-school students take four years of math, science, and language arts, and three years of social studies to be eligible for the scholarships.

Gov. Parnell will seek approval from the legislature in the upcoming session to set aside $400 million of nearly $8 billion currently in the Constitutional Budget Reserve Fund and Statutory Budget Reserve Fund to initiate the program.

A press release outlining the governor’s proposal is available at: http://www.gov.state.ak.us/news.php?id=5095