Missouri colleges use grant to educate students on loans and debt

4 months 2 days 14 hours ago Friday, July 21 2017 Jul 21, 2017 Friday, July 21, 2017 4:15:00 PM CDT July 21, 2017 in News
By: Michael Rizzo, KOMU 8 Reporter
loading
COLUMBIA - The Missouri Department of Higher Education awarded 18 Missouri colleges and universities with their Default Prevention Grant for the 2017-2018 academic year.  The grant is given to schools to be used to promote financial literacy and help prevent students from defaulting on their student loans.
 
Higher education institutions use the funding for programs that focus on strengthening students' money management skills.
 
Stephens College Financial Aid Director Kim Stonecipher-Fisher said the funding allows them to better interact with students.
 
"One of the things that it has allowed us to do is use peer counselors on campus to educate our current students about the importance of paying off their student loans in the future," she said. "It has also allowed us to do a tremendous amount of outreach, not only to our students on campus, but also to our recent graduates who have student loans.”
 
Stonecipher-Fisher said loans have an impact a lot of financial decisions.
 
"Something that we talk about with our current students is having a good career and being able to do the things you want to do," she said. "Buy cars, be able to purchase homes, have a great credit rating, all of those things can be tied into how they look at their student loans.”
 
Columbia College Financial Aid Senior Director Nathan Miller said the grant allows them to keep the students informed on their financial situation.
 
"We really want the students to know how they are paying for college; what’s the difference between a grant and a scholarship, an unsubsidized loan versus a subsidized loan," he said. "We’re trying to connect with all of our student population on what it means to pay for school and how they are going to pay for school, and the impact of the financial decisions they're making."
 
Missouri's student loan default rate has declined in recent years. The state's current default rate is 11.5 percent, compared to 13.1 percent in 2014.
 
Stonecipher-Fisher said Stephens College has noticed the trend.
 
"We’re in our fifth or sixth year receiving the default prevention grant, in the last five years we have had a decrease by 4.6% in default rate by our students,” she said.
 
Stonecipher-Fisher said Stephens College is thankful for the grant.
 
"The legislators who fund this grant need to know that it is money well spent because there is nothing more important than our current students knowing the value of their loans and being able to pay back their loans on a timely basis,” she said.
 
This is the seventeenth year grants have been provided to higher education institutions.
 
The following institutions were selected to receive a default prevention grant for the 2017-2018 academic year:
·         Bryan University
·         Columbia College
·         Cottey College
·         Harris-Stowe State University
·         Jefferson College
·         Lincoln University
·         Mineral Area College
·         Missouri Southern State University
·         Missouri University of Science and Technology
·         Moberly Area Community College
·         North Central Missouri College
·         St. Louis College of Health Careers
·         State Fair Community College
·         State Technical College of Missouri
·         Stephens College
·         University of Missouri-Columbia
·         University of Missouri-St. Louis
·         Webster University
 

More News

Grid
List
COLE COUNTY - The Cole County Sheriff's Department said it is investigating a shooting that happened Wednesday night. ... More >>
1 hour ago Wednesday, November 22 2017 Nov 22, 2017 Wednesday, November 22, 2017 9:58:20 PM CST November 22, 2017 in News
COLUMBIA - Missouri basketball star Michael Porter Jr. is recovering after undergoing surgery in Dallas Tuesday. MU said he will... More >>
5 hours ago Wednesday, November 22 2017 Nov 22, 2017 Wednesday, November 22, 2017 6:34:00 PM CST November 22, 2017 in News
BARNETT, Mo - A Morgan County detective is apologizing after shooting and killing a family's dog. He was attempting... More >>
6 hours ago Wednesday, November 22 2017 Nov 22, 2017 Wednesday, November 22, 2017 5:35:00 PM CST November 22, 2017 in News
COLUMBIA - On Wednesday, Columbia police released photos of an October armed robbery at Dash Liquor. On October 29,... More >>
6 hours ago Wednesday, November 22 2017 Nov 22, 2017 Wednesday, November 22, 2017 5:01:00 PM CST November 22, 2017 in News
JEFFERSON CITY - The Missouri Highway Patrol is joining the fight against opioids. The drug has caused a nationwide crisis,... More >>
7 hours ago Wednesday, November 22 2017 Nov 22, 2017 Wednesday, November 22, 2017 4:27:00 PM CST November 22, 2017 in News
COLUMBIA - A Columbia man involved in a deadly shooting in May has been indicted by a federal grand jury... More >>
7 hours ago Wednesday, November 22 2017 Nov 22, 2017 Wednesday, November 22, 2017 4:04:00 PM CST November 22, 2017 in News
JEFFERSON CITY – With Thanksgiving comes a lot more traffic on the roads. In fact, according to AAA there will... More >>
9 hours ago Wednesday, November 22 2017 Nov 22, 2017 Wednesday, November 22, 2017 2:14:00 PM CST November 22, 2017 in News
JEFFERSON CITY - Missouri Attorney General Josh Hawley sent a letter to Uber on Wednesday demanding the rideshare take immediate... More >>
9 hours ago Wednesday, November 22 2017 Nov 22, 2017 Wednesday, November 22, 2017 1:51:00 PM CST November 22, 2017 in News
COLUMBIA - City Council voted 4-2 on Monday to postpone a preliminary plat for Columbia Public Schools’ new middle school... More >>
12 hours ago Wednesday, November 22 2017 Nov 22, 2017 Wednesday, November 22, 2017 11:03:00 AM CST November 22, 2017 in News
COLUMBIA - A Boone County judge approved a change of venue request for a man accused in a deadly October... More >>
12 hours ago Wednesday, November 22 2017 Nov 22, 2017 Wednesday, November 22, 2017 10:56:00 AM CST November 22, 2017 in News
COLUMBIA - The Boone County Prosecutor's Office filed more charges Wednesday against a man arrested for two robberies in October.... More >>
14 hours ago Wednesday, November 22 2017 Nov 22, 2017 Wednesday, November 22, 2017 8:47:00 AM CST November 22, 2017 in News
JEFFERSON CITY - Whether it is by car, plane or train, many people will be traveling for the Thanksgiving holiday.... More >>
21 hours ago Wednesday, November 22 2017 Nov 22, 2017 Wednesday, November 22, 2017 2:36:00 AM CST November 22, 2017 in News
COLUMBIA - A three-car crash temporarily shut down one of the northbound lanes of Range Line St. around 6:00 Tuesday... More >>
1 day ago Tuesday, November 21 2017 Nov 21, 2017 Tuesday, November 21, 2017 7:00:00 PM CST November 21, 2017 in News
COLUMBIA - The American Farm Bureau Federation conducted a survey on 16 food items from 25 states across the country... More >>
1 day ago Tuesday, November 21 2017 Nov 21, 2017 Tuesday, November 21, 2017 6:19:00 PM CST November 21, 2017 in News
COLUMBIA - Boone County Auditor June Pitchford presented the commission with her proposed 2018 budget Tuesday afternoon. The commissioners... More >>
1 day ago Tuesday, November 21 2017 Nov 21, 2017 Tuesday, November 21, 2017 6:06:00 PM CST November 21, 2017 in News
JEFFERSON CITY - A one-of-a-kind facility is starting to take shape in Jefferson City. At the junction of US Highway... More >>
1 day ago Tuesday, November 21 2017 Nov 21, 2017 Tuesday, November 21, 2017 5:55:10 PM CST November 21, 2017 in News
SEDALIA - Steel giant Nucor announced Tuesday it would build a new facility in Sedalia, bringing 250 new jobs and... More >>
1 day ago Tuesday, November 21 2017 Nov 21, 2017 Tuesday, November 21, 2017 4:04:00 PM CST November 21, 2017 in News
FULTON - Callaway County Humane Society Investigator Sandy Corbet said she's had an increase in phone calls related to missing... More >>
1 day ago Tuesday, November 21 2017 Nov 21, 2017 Tuesday, November 21, 2017 3:37:00 PM CST November 21, 2017 in News
Columbia, MO
Broken Clouds 31°
12am 30°
1am 30°
2am 29°
3am 29°

Select a station to view its upcoming schedule:

Coming Up Next

11:37p
Late Night with Seth Meyers
12:37a
Last Call with Carson Daly
1:07a
Inside Edition
11:30p
The King of Queens
12:00a
King of the Hill
12:30a
Cops

Tonight's Schedule

7:00p
The Wall
8:00p
Saturday Night Live
7:00p
iHeartRadio Music Festival, Night 1
9:00p
KOMU 8 News @ Nine on The CW
9:30p
Seinfeld