College Scholarships Funded by Medical Marijuana
Amazing as it sounds, there are now college scholarships funded by marijuana. America, rejoice! I know that as a college student, I would have been intrigued, and I would have applied.
Recently, Pueblo County in Colorado approved the world’s first college scholarship to be funded by marijuana. Voters in that county managed to approve a new pot tax that would put money aside for high school seniors who plan to attend one of two public colleges in their county. This tax is projected to raise about $3.5 million dollars annually.
The scholarship awards will vary depending upon how many students apply for them, but the county says that they expect to grant about 400 scholarships a year, valued at around $1,000 each. These will be the first scholarships ever to be funded by marijuana.
The Pot Industry Approves
The growing pot industry in Pueblo County saw no problems with the measure, which will bring the tax rate up to 20% (while phased in over the next 5 years). Although it could be said that it puts both the industry and the recipients in an odd position: The students will be going to school on a scholarship paid for by a product they won’t be able to experience for a few more years (as the legal age is 21).
Those who back these scholarships say it is no different than the scholarships that are backed by companies that sell alcohol and note that adding scholarships from any industry is a great idea.
The challenge, of course, will be to see how well the county can educate minors on staying away from pot until they are of age, while encouraging growth in the industry at the same time.
If all of the tax revenue monies are not used by the scholarship program, they will be used for a number of community projects. As the pot industry grows, the program will likely be expanded.
Even if you’re not in Pueblo County, you can still enjoy contributing to the community by shopping at Kind Meds. If you’re in Denver and you’re looking for high-quality cannabis products, please visit our dispensary. Two medical marijuana patients started this business back in 2009, after we saw first-hand the kind of sub-standard treatment most medical marijuana patients received at other stores.
While profit may be the main motivation of most dispensaries, it is not our motivation at Kind Meds. We care about their patients and the community and we are definitely on-board with providing scholarships funded by weed.