New and existing MCC scholarships could ease student loan rate increase

Students who are working on solutions to meet the rate increase on federal student loans effective July 1 should look to the growing scholarship opportunities at Metropolitan Community College.

The U.S. Treasury Department recently raised interest rates for federal student loans for both undergraduate and graduate students. New loans disbursed from July 1, 2017, to June 30, 2018, will see interest rates rise from 3.76% to 4.45%. In addition, interest rates for unsubsidized loans issued to graduate students will rise from 5.31% to 6%. Direct PLUS loans will also see their rates go up to 7% from the current 6.31%.

MCC knows this might present a challenge to students, many of whom have taken out loans, so  this is a good time to share new scholarship information and remind students to track the development of those scholarships and to apply for not just those but already existing scholarships as well.

Each year, the Metropolitan Community College Foundation provides students with scholarships to allow them to continue to excel in their educational goals.

“More than half of MCC students require financial aid in order to realize their dreams of attending college,” says Jessica Ramirez, associate vice chancellor for advancement. “We are proud to be on the front lines in the effort to help them not let a lack of money stand in their way.”

Newly announced scholarships from the MCC Foundation include:

  • The Becker Family Quin’C Memorial Scholarship ($1,500)
    • Click here to read about the dog that made this opportunity happen.

  • James Risowski Memorial Scholarship ($1,000)

Please monitor this list on the MCC scholarship website for the latest on availability of these new scholarships.

In other scholarship developments, funds raised from MCC’s Cenntennial Celebration gala have been distributed, with $30,000 awarded to each campus for scholarships.

Nearly $334,000 in grants and scholarships was awarded to MCC students in the 2016-17 school year.

About the MCC Foundation:

The MCC Foundation advances the mission of MCC by attracting resources that increase student access to educational opportunities and support quality programs and environments that respond to the educational and workforce needs of the community.

Read more, click here.

To learn more about the impact of the federal student loan story, watch a recent news story from KSHB 41 Action News, including an interview with  MCC’s Director of Student Financial Services Dena Norris.

Student scholarship success stories from the past year:

(Story content contributed by Chebet Buckner)