Sweet incentives for students: one IHE will offer a $500 reward to students who finish in four years.

Southern Illinois University at Carbondale suspects that its next class of incoming freshmen will make an extra effort to complete their coursework "on time." If they don't, they won't be eligible for the new $500 cash reward that the university will be offering to all students who graduate in four years. As of now, only one in four students who enroll as freshmen graduate on time, says Walter V. Wendler, the university's chancellor.

"A lot of this has to do with our big percentage of non-traditional students, including those who work full-time or who have families," says Sue Davis, a spokesperson for SIU. The "Finish in Four Scholarships" program, however, is not targeted directly at these students, but will speak more to the traditional-aged students who prolong graduation for other reasons, Davis says.

"A lot of these students only take 12 hours a semester as a way to boost their GPA by graduation time," she says. "We would encourage these students to take summer school or distance [earning hours so they can finish in four."

But in addition to improving its graduate rate, the new program is designed to save money for students, families, and taxpayers. "I think students are now more cognizant of the costs involved with staying in school longer. Every year that passes they will have more student Loans and less time to make money to pay them back," says Davis.

While $500 is a modest amount, she says, the hope is to encourage students to consider the four-year plan. "We needed it to be affordable for the school while still making a statement."

Also, students who earn their bachelor's degree on time will be eligible for a $1,000 scholarship to SIU's graduate programs and a $2,000 scholarship to its taw or medical programs.