I'm really excited. We've got our first nomination. Do you know what this means?
It means someone actually looked at this website!
That's right! Our nomination comes from Graduate student Erin Sproule (MA program, Economics). He writes:
The award: Bogus Boycott
For: The Fall 2003 Tuition Boycott
This whole concept infuriated me: convince students to withhold their
tuition until the last possible minute. The slogan was, "Can't afford high
tuition? DON'T PAY" I guess they thought the University would grind to a
halt without the much needed cash flow. However, they failed to realize 1)
the bulk of the Universities funding doesn't come from students anyway 2)
the interest on unpaid tuition is 2% PER MONTH which is an annual rate of
24% - not including compounding. This last point is just so glaringly
obvious, I can't believe no one figured it out (I tried to point it out to
one of the girls in the Boycott promotional booth, and she stared at me
blankly and asked, "What are you, in Economics?").
First, students MUST pay their tuition eventually if they want to graduate.
Second, even if the cash crunch did hurt the University in some measurable
fashion, no banker in their right mind would refuse a loan to a
government-backed institution who was going to be collecting 24% on the
loan. Hmmm, I could borrow $1000 now at prime rate and pay it back later
after I'd collected 24%. If the University is looking for new and
interesting ways to increase revenue, maybe they should start encouraging
the boycott. It would be bliss, the SFSS and the administration working
together at last. We could change our name to MasterCard University (except
that MasterCard has better rates - around 19% so that might hurt the bottom
At the end of it all, the SFSS declared victory when the administration
agreed to put all of the interest revenues into the bursary program. In
effect, the boycott transfered wealth from those with the lowest present
consumption (if you believe that people really didn't pay cause they
couldn't afford it) to unnamed bursary recipients. It made those who
"couldn't afford it" actually pay more and didn't make the administration
break a sweat. That's one Bogus Boycott.
Wow, Erin, that was great. It just shows you can't win an argument with stupid people.
A clear winner of the Bogus Boycott Award.