Advantages Of Education Trust FundThe primary objective of any Education Trust Fund is to support needy and deserving students who belong to economically backward community and therefore their education has been hindered. Education is the key to sustaining the economic growth and social fabric in any society, by means of investment in human capital and providing opportunities to narrow the income gap. Therefore, these trust funds play a major role in social development. Some trust gives grants to young disabled individuals and provides help with all expenses incurred by education and training, including help with the cost of trips, books, stationeries and travel expenses. Some others are dedicated to helping young people overcome the financial hurdles to higher education. There are several advantages of forming an education trust fund. First and foremost, schools need not depend on state for financial assistance. Even those schools which receive state aid from the state's general fund, the trust fund dollars would supplement state aid. Further, education trust fund can be financed in some innovative ways. One of them is from financing it with internet and catalog sales tax revenues. Investing internet sales tax revenue is a good move for any state economy. Research has shown a definite link between expenditure on education and state infrastructure. In fact, a study by leading economist Richard Sims showed an investment in K-12 education provides a greater benefit to the local and state economy than would investment in any tax cut or other investment, including roads. By dedicating funds from what will be a growing source of revenue, the state would be able to assist school districts across the state in moving the average teacher salary closer to a competitive salary. Using the education trust fund to enhance salaries is important. Better salaries will attract young people to the profession. Future generation can look forward to an excellent pool of teachers. Some might argue that public schools already receive enough aid from state aid each year and it is better to invest the money in infrastructure development like streets etc. But it is to be noted that streets and roads also have supplemental income in the form of hundreds of millions of federal highway dollars. It would be difficult to argue that concrete is more important than our kids. Creation of an Education Trust Fund is about providing kids with quality teachers and, thus, a quality education, a more vibrant economy and a better quality of life for everybody. |