Let’s look at the extreme case and see if it is workable:
The RichH Outside Left Offensive Guard endowment would require, let’s say, $50,000 per year to make it a full free ride. Since these things always work on the principle that earnings pay the expenses and you don’t touch the endowment principal, you would need to pony up $50,000/.03, assuming today’s paltry earnings rates. Yoiks, that’s almost $1.7 million!
C.mon, Rich, fork it over. Get this ball rolling. The rest of you fat cats join in. With 60 scholarships you will only need to come up with about $100 million.
I’m not sure what Richmond is doing, but ya gotta ask just how workable this is and just how much of a dent it could really put in this pile.