The Uni Currency Project: Democratic Finance for Public Higher Education After COVID-19

Abstract

This chapter describes a novel policy mechanism for revitalizing U.S. public higher education in the age of COVID-19. In place of the current tuition-as-revenue model, we propose the “Uni” model, whereby public colleges and universities tap their latent fiscal authority to issue and circulate complementary currencies. Like their U.S. dollar counterparts, Uni currencies will obtain value because they will be accepted by colleges and universities in payment for tuition, fees, meal plans, and rents. To outline the full potential of the Uni, a thought experiments situates it between local municipalities and receivability in property taxes and as an instrument guaranteed by the Federal Reserve. When implemented, the Uni system will enable colleges to keep workers paid and students safe throughout and beyond the current crisis.