Taking a bite out of student debt: CCUF works with CUs on scholarship program
Wednesday, August 21, 2013
of 60% of students borrowing to fund their tuition and other secondary
education expenses—and worse 14% of those loans in default—North Carolina credit
unions and the Carolinas Credit Union Foundation are teaming up to do their
part to reduce some of those expenses by offering scholarships.
This year, combined
scholarships have provided $177,395 in
assistance to students attending universities, community colleges, and trade
schools throughout the United States.
programs can be burdensome for some credit unions to manage, which is why CCUF is
more than willing to aide in the process, from application distribution to helping
in determining scholarship recipients.
have several credit unions and a couple of chapters awarding scholarships. If there are credit unions out there in North
and South Carolina with a heart to help their student members in this way then
we stand ready to get your program started,” says CCUF President/CEO John P.
are given in increments of $1,000 and the students must apply each year. CCUF employs a scholarship committee that decides annually on the information
needed and essay question to be asked on the application.
"The credit union
makes the application available to their members and then collects them, judges
them, and selects winners,” adds McGrail. "Then they can send other applicants
directly to the CCUF for us to award general winners as well. This year we awarded $22,500 directly from
interested in learning more about starting a scholarship program should contact
John McGrail at firstname.lastname@example.org
or call at 704-305-7587.
Carolinas Credit Union Foundation is the cooperative charitable organization
representing the credit unions of North Carolina and South Carolina, their
members, and their communities. Our Vision is to "enrich the lives of children in the