By Lorie Lewis Ham
While it may be harder to get a good job without a degree, obtaining one continues to become more and more expensive. A January 2023 article on EducationData.org states that the average federal student loan debt is $37,574 per borrower, and for private loans the average is $54,921 per borrower. A total of 45.3 million borrowers have student loan debt; 92% of them have federal loan debt.
To help decrease that debt, many students apply for scholarships. Mennonite Aide Plan (MAP)/Mennonite Insurance Services offers one such scholarship. You can find more information on the website, and find comments from some of the students it has helped in a past article.
This month, several Mennonite Insurance employees and board members share some of their concerns and experiences from when their children and grandchildren attended college, and as some are preparing to go soon.
Staff member Michelle Heinrichs’ son Marcus is 20 and will be starting upper-division classes in the fall at Fresno State. He has taken this semester off to work full time and save up towards paying his tuition when he returns. “He feels strongly that he would like to avoid loans if possible, so we are working as a team with him to make this happen,” says Michelle.
Michelle herself also attended Fresno State but was unable to finish due to budget issues. While money was definitely relevant when Marcus was deciding where to attend, it wasn’t the only deciding factor. “Our biggest concern/priority when considering where he might attend was hoping he would have the most chance to really enjoy the college experience while STILL getting an education. Sometimes, kids study too much, work too hard, or party too much and any of those are not balanced lifestyles. We prayed he would attend a college that would allow him to learn and grow without losing sight of reality. We wanted Marcus to be in a safe, but exciting environment, with opportunities to grow in a community.”
Staff member Claudia Fletes currently has a daughter in college. It was important for Claudia that her daughter not have to worry about how she was going to pay for college. Claudia feels that scholarships are a huge financial help for students and parents and are an important part when calculating finances. “I [also] believe there is less financial aid available to students now.”
Teresa Quijano, who is also a Mennonite Insurance employee, has a daughter who will be applying for and attending college within the next four years. While one of Teresa’s biggest concerns regarding where her daughter goes to college is safety, thankfully money is not holding her back from the colleges she is exploring. “I want my daughter to apply for all scholarships that she qualifies for. Scholarships are very important. College is very expensive and financial aid is not a guarantee to all students. Where she decides to attend college will be up to her and we will help financially support her throughout her education.”
For board member LeAnne Quenzer, scholarships were a high priority when her children were applying for college, though the most important factors in their choices were high-quality academic and campus life exposure and experiences. Fortunately, the cost didn’t hold her children back. “We encouraged them to apply for many [scholarships]. Receiving scholarships made a very positive impact on attending their colleges of choice. The opportunities for scholarships are vital, and could make all of the difference for many in the ability to attend college or not.”
Board member John Hochstetler’s daughter benefited from the MAP scholarship program. While attending a Christian college was a priority for their children, finances were also a factor in choosing what school to attend. “She received a scholarship for college after applying which was a real benefit to her financial needs at the time.”
John recalls that college was much more affordable when he attended. He was able to pay his school off in five years. He feels that the cost of attending college now is way overpriced, which makes it difficult to attend a private college.
Mennonite Insurance staff member, Jerry Linscheid says that when he went to college you could pay for a semester by working during the summer. “When my children went to college, it was not possible to pay for a whole semester from a summer’s earnings. So, scholarships were important, but not determinative, of where they attended.
“The ability to borrow money at low-interest rates made college affordable,” continues Jerry. “I think it is gradually getting harder to justify going into debt for a 4-year degree. Students need to work hard to put together a financial package from all available sources so that the debt burden at graduation is not overwhelming.” If you, your child, or grandchildren are looking into attending college and are searching for scholarships, the Mennonite Insurance Services will be accepting applications from April 1-July 1, 2023. Scholarships of $1,000 are awarded to up to five applicants each year. Applicants may apply multiple years; however, preference will be given to applicants who have not previously received the scholarship. To see if you qualify, and to learn more, you can find all the information on the website. Also, feel free to email Mennonite Insurance Services at [email protected] with any questions you may have.
