College tuition and debt continue to rise, and many students find current scholarship opportunities are limiting. Although student aid is available, many students don’t qualify or get enough aid to cover the cost of their higher education. Student loans help bridge the gap, but students often get saddled with insurmountable debt upon graduation. Students tired of the restrictions and rising costs now have options.
- Federal Financial Aid, State Grants, and Merit Scholarships
- Fast Facts on Scholarships, Grants, and Aid
- The Drawbacks of Government Funding
- STONEPILE WILL MATCH GRANTS AND SCHOLARSHIPS
Federal Financial Aid, State Grants, and Merit Scholarships
Choosing a college is scary stuff! Students want to begin their journey to career success without accruing massive school debt. Federal Financial Aid and State Promise scholarships provide enough aid for students to attend a state school or technical college at a discounted rate. Still, these forms of financial aid come with restrictions, qualifications, and limitations. In addition, many forms of federal financial “aid” are just accessibility to student loans, which follows graduates for years.
Fast Facts on Scholarships, Grants, and Aid
- 16 states so far have College Promise programs, which offer tuition grants for the first two years of community or technical college, including Arkansas, Delaware, Hawaii, Indiana, Kentucky, Louisiana, Mississippi, Missouri, Minnesota, Oklahoma, Oregon, Nevada, New York, Rhode Island, Tennessee, and Washington.
- Some states offer partial scholarships for 4-year universities with restrictions and qualifications.
- The maximum award from the Federal Pell Grant (2019-2020) is $6195 for qualifying students. Most get much less than that amount.
- Students can borrow up to $5500 per year with a Federal Perkins Loan.
The Drawbacks of Government Funding
- All students must fill out the Free Application for Federal Student Aid (FAFSA) for state and federal aid in order to show the Estimated Family Contribution or EFC.
- Federal Pell Grants provide money based on the EFC, leaving middle-class students with minimal aid awards.
- Federal Pell Grants offer only a portion of the cost of most traditional colleges and universities, with only .3% of students receiving full tuition to a 4-year school.
- Most College Promise awards limit students to community or technical colleges and are good for only 2-year programs.
- State Merit Scholarships for 4-year programs give only up to a certain amount (e.g., TN gives up to $6000 per year for 4-year programs). These scholarships leave the rest of tuition, books, and room/board for the students to pay.
- Many State Merit Scholarships require certain GPAs and ACT score requirements, gearing it disproportionately to nonethnic majority students and exacerbating the inequitable ways of higher ed.
- Many State Merit Scholarship programs require full-time enrollment and exclude non-traditional enrollment.
STONEPILE WILL MATCH STUDENTS’ GRANTS AND SCHOLARSHIPS
STONEPILE wants students to graduate debt-free with leadership skills and tech-savvy capabilities to meet the need of the 1.3 trillion-dollar construction industry. We want everyone to have the opportunity for affordable, accessible, and success-oriented education. Because we are a new institution, we are not yet eligible for scholarship and grant awards via the FAFSA application.
Therefore, for STONEPILE’s inaugural year, we are committed to match students’ financial grants and scholarships. Stonepile will match any monies your students have been awarded with our private endowment, and since STONEPILE’S tuition is only 3K per semester, this opportunity means students can avoid debt and graduate with marketable and ready skills for the field.
Contact Katie to discover this opportunity for an Associate of Applied Science in Construction and Bachelor of Applied Science in Construction Management.
Jodi Vermaas, PhD
*All images courtesy of BASE4
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