Since 2010, parents have reduced their spending on college students significantly; instead grants, scholarships, and student borrowing have increased.
Chicago, IL, November 12, 2013 – Since 2010, parents have reduced their spending on college students significantly; instead grants, scholarships, and student borrowing have increased. The use of grants and scholarships has been the largest contributor since 2010.
According to Sallie Mae’s research of “How America Pays for College2013,” “Nearly two-thirds of families (65%) used grants and scholarships to pay for college this year, up from 61 percent in 2012 and up from only half of families five years ago.”
Moreover, scholarships are the only contributors of this year’s increase, since grants for college funding are actually decreasing this year. Numerous scholarship programs and the care of education from society and businesses are the reasons that scholarship awards can still make a huge difference to college funding during the recession.
OCA Chicago Scholarship, one of the scholarship programs in Chicago, has awarded 6 outstanding students this year. The scholarship helped them achieve their higher education. At this year’s Gala at the Holiday Inn Chicago Mart Plaza, Anson Wu, VP and board member for OCA Chicago Chapter, introduced the scholarship program to the audience. He remarked, “OCA Chicago Scholarship started with a simple idea that is to help deserving Asian American students to get the education they deserve…” Anson oversaw the scholarship program for OCA for 2012 and 2013.
During the day Anson is the managing Creative Director at a digital creative agency in downtown Chicago, Fresh Design Studio, where he continues to pour creativity into digital assets for client’s brands. He cares about students’ education because he believes in giving back to the community and realizes that the students have such bright futures.
Scholarships are now the major contributors to students’ education. With the help of many different people like Anson, scholarships are the hope of education. Many students can still go to college and make their dream come true, even while the economy is down.
Fresh Design Studio
A: 53 West Jackson Boulevard, Suite 256
Chicago, IL 60604