Originally published in the Journal Gazette on 3/10/2021
A Community Investment in Education
First, you’d be called to the principal’s office.
Every senior at South Side High School experienced it. They sat across from the principal and he asked about their plans for the future. Times were uncertain. America was still reeling from the Great Depression and only 15% of Americans went on to higher education, mostly from upper-income families. In 1937, Principal R. Nelson Snider would hear no excuses. He worked with like-minded educators and business leaders to develop a fund, loaning students money to pursue their college dreams.
Fast forward to today; times are uncertain. America is still grappling with the pandemic, and college prospects are in question. Already concerned about financing college, 77% of Indiana residents now fear higher education is further out of reach due to the pandemic and economic downturn, according to a recent INvestEd survey. Nationwide, 69% of students rely on loans to fund their education and graduates in Indiana average $32,000 in student loan debt. With job loss, health concerns, and other challenges brought on by the pandemic, students and families face the potential of even more debt to make their education possible, leading some to close the door on that dream.
As a community, we cannot let those college dreams die. Despite debate about the value of higher education, the data are clear. A postsecondary education results in higher lifetime earnings, better health, greater job security, and increased civic engagement. And those are just the individual benefits. The community benefits are tenfold – most significantly, we know that a skilled and educated workforce fuels economic and community growth. That’s why the region has rallied around the goal of achieving 60% of the population with a postsecondary degree or credential by 2030.
There is a community need, and there is a community solution. Nearly 80% of Hoosiers think Indiana communities would gain a competitive advantage if they did more to help residents prepare for college expenses and minimize student loan debt. They’re right.
In this very important way, northeast Indiana is ahead of the game. Ever since Principal Snider initiated those meetings over 80 years ago, Fort Wayne and northeast Indiana have invested in local students through Questa Education Foundation’s unique college funding programs. Northeast Indiana residents can receive up to $20,000 in low-interest loans over four years to make their college education possible – and up to 75% of their loans can be forgiven if scholars live and work in the region for five years and graduate from a partner school. This means northeast Indiana is not only helping local students finance their education, we are also incentivizing those talented graduates to live and work in our community.
Questa programs are a community investment in local students that works. Eighty-five percent of Questa scholars graduate within five years and two-thirds remain in the region. At a time when regions like ours stake their future success on attracting talent from other markets, developing and retaining our homegrown talent is just as – if not more – important.
Although residents want to pursue higher education, for many, financial obstacles feel insurmountable. As a community, we can accelerate our investment in students and help more – not fewer – students access college education in the coming years, despite current economic uncertainties. Students benefit from the opportunities of higher education and graduate with less debt. Our region benefits as we engage those graduates as future professionals, volunteers, and leaders to make our workforce, our businesses, and our community stronger.
Learn more about Questa Education Foundation’s history or consider partnering with us. Visit our partner page to learn more or contact Elizabeth Bushnell Questa’s Executive Director, below.
