By Mary Cuba
According to the U.S. Department of Education, one-third of American college students today graudate in four years.
That is only 31 percent.
MSU gave 33 students $1,000 just for graduating last year.
There was only one catch: the rules.
A statewide rebate program started in fall 1997. To collect, students must graduate within four years and not exceed three hours over the amount required for one’s major.
Since the program began, MSU’s first-time, full-time graduation rates within four years have increased.
In the fall of 1997, only 7.5 percent of MSU students graduated with a degree in four years.
About 16 percent of students graduated in fours years in the fall of 2006.
The purpose of the program is to give students a finanical incentive to complete a bachelor’s degree with as few courses outside the degree plan as possible.
Despite the hefty reward, only four percent of students qualify annually. Many exceed the credit hour limit.
“A bachelor’s degree that requires 120 hours to graduate causes a student to take no more than total, 123 hours,” said Barbara Lunce, assistant to the registrar.
Students often withdraw from classes, take developmental courses for credit and repeat courses which count toward the amount of hours attempted.
However, the first nine credit hours via examinations, such as CLEP exams or high SAT/ACT scores, do not count against the student, said Lunce.
College classes taken in high school no longer count either, giving students a little more time to decide a career plan.
A student must be a Texas resident working toward a degree at all times and receive a bachelor’s degree within the four consecutive years as stated with the Texas-B-On-Time financial aid program.
The goal for this $1,000 rebate is to not only minimize the number of courses a student takes but also save the student time and money.
The college itself is responsible for providing the money for the rebate through local funds.
This, in turn, saves the state from having to handle the payouts.
For students who have study abroad, all courses must transfer back successfuly to MSU with each course fulfilling a requirement in a degree program.
Students can register for this rebate through Lunce. She can be contacted on the school website under the registrar tab.