Student Stores has less for scholarships

Scattered around Student Stores are signs proclaiming where their earnings go — scholarships. But this year, the earnings might be lower.

A combination of new fees charged by the University, competition from other retailers and less spending from students and departments could decrease this year’s earnings, reducing the amount of aid the stores can give.

The state will add an additional operations tax that will detract from Student Stores’ overall profit, said Shirley Ort, director of scholarships and student aid.

She said the stores usually give about $500,000 to scholarships each year.

But Jim Powell, the stores’ business manager, said decreased earnings could mean just internal shuffling instead of drastically less money for scholarships.

“These increased fees to receipt-supported groups will be hundreds of thousands of dollars in our case,” Powell said. “We still plan on giving scholarships and cutting back elsewhere where we can, but we’ll just have to see.”

Powell said he hasn’t seen much change in student spending this year, but said sales to academic departments have dropped off slightly.

“Departmental sales at this time of year aren’t very great, but they have their own internal budget cuts, so they have cut back a little bit,” he said.

August brings a big rush in student spending on textbooks and merchandise, Powell said, which usually totals about $3 million.

Earnings won’t be distributed until November, after sale totals have been calculated.

“Late October, once all our numbers have come in, that’s when we’ll be able to look at that information and see what we can do,” he said.

Some students said they were trying to look for — and provide — cheaper options than Student Stores this year.

Senior math major Ivan Kirov spent Sunday selling used Economics 101 textbooks on the steps of Gardner Hall.

Kirov said the textbooks were purchased on the Internet and sold at a profit for cheaper than a used book at Student Stores.

The money made would be used to pay for events and speakers hosted by UNC’s Economics Club, he said.

“Why would I buy my books from Student Stores when I can find them so much cheaper online?” Kirov asked. “I could buy my book, donate some money to the University and still have spent less than if I bought them there.”

But for Ort, the money that the stores gives to scholarships is more than enough to recommend them to a textbook-seeking student.

“We always tell people to buy local,” she said. “They’re our friends, and we always try to tell students to buy from them.”

University Editor Kevin Kiley contributed reporting.

Contact the University Editor at udesk@unc.edu.