Why Give to the U of A: Lee Scott
Commentary -
By Lee Scott, President and CEO of Wal-Mart Stores, Inc., and Corporate and Foundation Relations Committee Member
Sam Walton once said that "... If people believe in themselves, it's amazing what they can accomplish." I'd like to put my own spin on that quote and say, if people believe in education, it's amazing what they can accomplish.
We all know the importance of education. Education is what shapes tomorrow's corporate leaders, the policy makers, the creators of new processes and ideas. As business leaders, volunteers, or simply citizens of a community, we have an obligation to ensure that the higher education opportunities provided to our students are excellent.
I am a volunteer for two groups at the University of Arkansas operating under the belief of the potential of education. The 2010 Commission, a group of industry, government, and educational leaders, was charged with the task to articulate the need for more public support of higher education in the state of Arkansas. I also have a role with the Campaign for the Twenty-First Century Steering Committee, the volunteer group driving the Campaign and making the case for increased support from the private sector, namely individuals, corporations, and foundations.
How is the belief in education manifested? Through financial support. State and federal support has been steadily declining in recent years. While still critical, they are no longer the main source of funding for public universities. Now, private gift support is a necessary complement to government support. Colleges and universities cannot rely on tuition and fees alone. Although many universities, including the University of Arkansas, have realized a slow but steady climb in tuition, there will be a point at which the rates become so exorbitant that a college education may not be a reality for many deserving students.
Education cannot function at a higher level without this significant infusion of resources from private interests. While public support keeps the lights on, private support provides the margin of excellence in programs to make higher education truly outstanding. Public support helps pay salaries and wages. Private support provides for many scholarships, fellowships, and endowed faculty positions and gives the University the ability to attract and retain great people. Private support means the difference between a good program and a nationally competitive program. And that's just a minute sampling of how a difference can be made.
By demonstrating a belief in education through increased public and private financial support, I think we'll be amazed at what we can help education accomplish.
If you would like to submit your own commentary about supporting higher education, send e-mail to abaltom@uark.edu..
