College of The Bahamas (COB) presidential candidate Dr. Phillip Carey yesterday pledged to raise $500 million over the next 10 years by creating a system-wide capital development fund campaign, if his bid is successful.
Carey, a full professor of sociology and former dean of the College of Arts and Sciences, North Carolina A&T State University, made his bid to garner the support of COB's stakeholders during an open forum.
He is one of four candidates shortlisted for the position. Carey said the $500 million would be earmarked for a variety of infrastructural programs and other initiatives.
Key among them are accommodating and enrolling 10,000 students over the next five to 10 years, and establishing new state-of-the-art residential campuses for students and faculty in New Providence and several of the Family Islands.
Carey said the funds would also go toward strengthening the core professional studies programs; expanding student financial aid; creating a $50 million endowment fund for the future growth of the university and the construction of a health and wellness development center.
"I am so excited about the possibility of helping this institution to become world class," he told around 100 students, faculty and staff at COB's Harry C. Moore Library and Information Centre.
"To be able to accomplish this vision we have to generate resources. In case you have not heard, the days of universities depending on central governments to supply all of the resources they need are over." Carey said the number one concern for students at the college based on research is money.
Last April, scores of students expressed outrage over the college's decision to raise fees on a range of services.
The move came after the government requested that the college reduce its subvention by 10 percent in the 2013/2014 fiscal year and by 25 percent for the 2014/2015 year.
In response, Carey said this is an opportunity to become more self-sufficient. Noting that raising $500 million within 10 years is "brazen", Carey said the support of the international community and private partnerships will be key.
"There are people in my vision right now -- we live in a global community -- [who] are thinking, I have some money; what do I do with it?" "I will find those people.
This may be strange talk to some of you, but when you understand where I've come from and where I am, what I am talking about is nothing compared to what I have already done."
Carey completed his Ph.D. in sociology and higher education administration in 1975 from Oklahoma State University. He previously taught at COB.
As an example of his achievements, Carey said during his time at the University of Minnesota, the institution had an attrition rate of 80 percent among black students.
Within 18 months, and with nearly $2 million raised to assist those students, Carey said the attrition rate among blacks dropped to 10 percent.
He said similar feats and more can be achieved at COB, which can look forward to a "confident and persistent leader" if he is selected to head the institution.
As far as past tensions between the college's executives and faculty and students, Carey said if successful he plans to address that within the first 120 days.
"Again pass the word, problems done, Dr. Phil, president Phil is here," Carey said. Other candidates include Dr. Gregory Carey, Dr. Olivia Saunders and Dr. Rodney Smith. They will address the college's stakeholders at COB's Oaksfield campus on February 15, 18 and 24 respectively.
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