Hokie Nation has taken to
Virginia Tech was among 41 organizations that recently received checks from the Virginia Department of Motor Vehicles based on the sale of revenue-sharing license plates during the last (2005-06) fiscal year. As a result, Virginia Tech received $214,000—more than twice the amount of any of the other 82 in- and out-of-state colleges and universities that have revenue sharing license plates.
Monies received through this program go directly to support undergraduate scholarships for
“In addition to showing your support for Virginia Tech, these license plates can make a world of difference in the lives of our students,” said Barry Simmons, director of scholarships and financial aid. “The funds received through this program over the years have helped dozens of students from lower income families gain access to and afford a Virginia Tech education.”
“The DMV implemented the revenue sharing program in 1992, and it’s a great way individuals can shore their support of their favorite cause or institution,” said Bill Foy, public relations manager for Virginia DMV. “Revenue sharing plates cost $25, in addition to vehicle registration fees. After the sale of the first 1,000 plates, $15 of the $25 fee is transferred to the designated organization. Individuals who registered their vehicles with special plates helped generate $2,209,440 for their favorite schools and causes this past year.”
Currently, three license plates are available that support Virginia Tech. The original plate displays the university seal in maroon in the center of the plate. The second design has the university’s shield on the left in maroon and orange with the words “Go Hokies” written across the bottom of the plate in maroon. The third plate features the Athletic Department’s VT logo with “Go Hokies” written on the bottom.
Guys, please share your thoughts on implementing such a revenue sharing model here in Indian state RTOs...We could generate a few millions for education of underprivileged. What are the business opportunities? What are the entry barriers? Pls shoot your comments...(By Mark Owczarski)
2 comments:
but is such a thing allowed in India?to have sponsored number plates...and then how many students in India would actually have cars or even bikes..some thoughts that struck me!! though a nice initiative at VT...brilliant in fact!!
-Kartik
@Kartik
Those are some real questions..I guess our target segment is that of alumni of premier instis. There are lakhs of em...n every year thousands graduate. Policy changes are entry barrier for sure..But there should be some way..Let's do a quick research on the revenue potential of this one..
Cheers,
Ganga
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