2020: A Year of Change, A Year of Community

When we look back on 2020, we’ll certainly consider it a year like no other – with unprecedented challenges and change.  Yet, when we reflect on our year at Questa, the enthusiasm and determination of Questa scholars was unwavering – perhaps even strengthened.

Whenever I talked to Questa scholars this year, I asked how their education and their lives have been affected by the pandemic, they were unfailingly upbeat about their switch to online classes last spring, the opportunity to get back to campus this fall despite restrictions, and the importance of their college experience overall. 

In general, we see a lot of headlines questioning if college is worth the cost.  This year, with not only financial obstacles, but also testing, masks and ever-changing restrictions, students answered the question.  They persisted and thrived.  They know college is worth it because of the new idea sparked in class, the challenging content they finally mastered, the great new friendships they found, and the opportunity to see their “old school” professor learn some new tricks on Zoom. 

Students know college is an investment in their futures.  It’s a dream they aren’t giving up on.  And, it’s a dream made possible for students because of the support from our community.

For over 80 years, Questa has harnessed community support to help students access education, graduate with less debt, and contribute to our regional workforce.  This year was no different and we expanded our programs and partnerships to support scholars in new ways. 

We responded to the hardships of the pandemic by offering deferments to graduates who needed it and opening late-round applications for new scholars who needed financial support to make college possible this fall.  Questa is proud to be supporting over 400 scholars from the region as they pursue certificates and degrees. 

This year, we also added new programs, including the Degree Finish Line to help students return and complete their degrees and the 80/20 Manufacturing Scholars program to support students pursuing careers in the manufacturing industry.  New partners made these programs possible.  Questa was proud to develop new collaborations with 80/20 Foundation Trust, Ferguson, Foellinger Foundation, the Northeast Indiana Regional Partnership, and Visiting Nurse Fort Wayne.  We renewed partnerships with long-time supporters like AWS Foundation, Cole Foundation, Parkview Health, and the Yergens-Rogers Foundation.  Questa also welcomed three new partner schools—Anderson University, Indiana Wesleyan University, and Taylor University—who will join other colleges and universities in the region to support Questa scholars with an additional 25% of debt forgiveness upon graduation.  This was also the year we bid a fond farewell to retiring executive director, Marc Levy, who led Questa’s growth and success for eight years.  I was honored to join Questa in April and deeply inspired to discover the talent and passion of the staff and board members who make this work possible.  Every partnership and each individual supporter strengthen our network of support for students from our region.

At Questa, when we look back on 2020, we’ll remember it as a year when our students were undeterred by the challenges, and our community didn’t waver in their support.  Thank you for continuing to believe and invest in local talent.

Degree Finish Line: Regional Institutions Partner with Questa to Help Students Complete their Degrees

FORT WAYNE, Ind. – For many individuals, an outstanding balance may prohibit them from completing their college degree, stifling their ability to graduate and advance their careers. To help students overcome this financial barrier, the Questa Education Foundation and the Northeast Indiana Regional Partnership developed the Degree Finish Line program. Degree Finish Line helps students pay off existing institutional balances so they can re-enroll or continue enrollment and finish their degrees.  In addition, students will join Questa’s Contemporary Scholars program and receive low-interest loans to help fund tuition and fees for their remaining semesters. Questa loans are up to 75% forgiven when students graduate from partner schools and live and work in Northeast Indiana for five years after graduation.

Noble County, Photo Courtesy of NEIRP.

Degree Finish Line was developed with the Northeast Indiana Colleges and Universities Network, a regional collaboration facilitated by the Northeast Indiana Regional Partnership. This partnership builds on the 2019 Talent Hub designation by Lumina Foundation, which recognizes the region’s collaborative approach to fueling credential attainment.

“Programs like Degree Finish Line are critical to helping our region attain 60% of the population with a postsecondary degree or credential,” said Ryan Twiss, Vice President of Talent Initiatives at the Northeast Indiana Regional Partnership. “Northeast Indiana is able to implement this unique program because of the exceptional collaboration of our regional colleges and universities and the expertise of Questa Education Foundation in helping students finance their college education.”

Local institutions are partnering with Questa to forgive up to $4,000 of outstanding balance, and Questa will provide up to $5,000 a year in additional funding. Debt forgiveness and financing options vary by institution.

“We believe in the talent of our residents, and we have been investing in local talent for decades,” said Elizabeth Bushnell, Executive Director of Questa Education Foundation. “This innovative program ensures that students can overcome financial obstacles, complete their degree programs and contribute to our regional workforce.”

Residents of the eleven counties of Northeast Indiana are eligible to apply, including Adams, Allen, DeKalb, Huntington, Kosciusko, Noble, LaGrange, Steuben, Wabash, Wells and Whitley. Participating and partnering institutions include: Grace College, Huntington University, Indiana Tech, Indiana Wesleyan University, Ivy Tech Community College, Manchester University and Trine University.

“Grace College committed to this program in order to help more students achieve their degrees,” said Mark Pohl, Associate Vice President of Enrollment Management and Financial Aid at Grace College.  “We are dedicated to the success of every student at Grace and are proud to collaborate with other colleges and universities in the region to support the success of all students in Northeast Indiana.”

Students are encouraged to contact their financial aid department for more information or visit the Contemporary Scholars page: https://www.questafoundation.org/contemporary-questa-scholars. To learn more, visit the website at www.neindiana.com/news.

Click here to view a flyer of the Degree Finish Line Program.



About the Northeast Indiana Regional Partnership: The Northeast Indiana Regional Partnership’s mission is to build, market and sell Northeast Indiana to increase business investment. Founded in 2006, the public-private partnership strives to build a globally competitive region. The Partnership’s Vision 2030 framework supports collaborative regional efforts to increase per capita income, population growth and educational attainment by focusing on business attraction, talent attraction and talent development. The Partnership represents 11 member counties: Adams, Allen, DeKalb, Huntington, Kosciusko, LaGrange, Noble, Steuben, Wabash, Wells and Whitley. For more information, visit www.neindiana.com. 

About Questa Foundation: Since 1937, Questa Education Foundation has been helping individuals access post secondary education, graduate with less debt, and become contributing members of Northeast Indiana’s workforce.
 

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MEDIA CONTACT:

Kate Virag
Vice President of Marketing & Strategic Communications
Northeast Indiana Regional Partnership
260.414.2431
kate@NEIndiana.com

Hillary Troup
Marketing Specialist
Questa Foundation
260-407-6494 ext. 103
htroup@questafoundation.org
               
Elizabeth Bushnell
Executive Director
Questa Foundation
260-407-6494 ext. 105
ebushnell@questafoundation.org

Questa Announces Partnership with Taylor University

Questa Education Foundation is excited to announce a new partnership with Taylor University. Questa scholars who attend and graduate from Taylor will now receive 25% in loan forgiveness on their Questa loan, in addition to 50% forgiveness if the student lives and works in Northeast Indiana for five years after graduation. In total, a scholar’s Questa loan can be up to 75% forgiven. This new partnership and forgiveness benefit will apply to new Questa Scholars starting at and returning to Taylor University in fall 2021.

“As we hold steady in our mission, we are eager to partner with Questa as part of our commitment to affordability,” said Nathan W. Baker, Vice President for Enrollment Management at Taylor. “This partnership opens doors for students to pursue their calling and invest in our neighboring communities.”

Taylor is joining another 11 universities that currently partner with Questa, including Anderson University, Grace College, Huntington University, Indiana Tech, Indiana University Fort Wayne, Indiana Wesleyan University, Ivy Tech Community College, Manchester University, Purdue University Fort Wayne, Trine University and University of Saint Francis.

“We are excited to launch this partnership with Taylor University,” said Elizabeth Bushnell, Executive Director of Questa Education Foundation.  “Adding Taylor as a partner school gives Northeast Indiana students more options for maximum debt forgiveness and supports our efforts to expand and serve more students from the region.”

Questa has served over 1,000 scholars and continues to increase the number of scholars each year thanks to generous donors and community support. New partnerships help Questa continue this expansion to strengthen the pool of newly skilled graduates who help meet the workforce needs of the region.

Questa’s Traditional application opens on December 1 through March 15. The Contemporary Scholars program and other specialized program applications are open year-round. For more information and how to apply, visit www.questafoundation.org.

About Taylor University: Founded in 1846, Taylor University is an interdenominational liberal arts university of evangelical faith located in Upland, Indiana. The 2021 U.S. News & World Report survey America's Best Colleges ranked Taylor the number two Midwest University in the category Best Regional Colleges. It marked the 24th consecutive year for Taylor to be ranked in the region's top three. Taylor has also been ranked number one 12 times. Taylor offers majors in over 60 fields of study including business, Christian education, communications, education and science. Taylor University is a member of the Council for Christian Colleges and Universities (CCCU) and Christian College Consortium (CCC). https://www.taylor.edu/

About Questa Foundation: Since 1937, Questa Education Foundation has been helping individuals access post-secondary education, graduate with less debt, and become contributing members of Northeast Indiana’s workforce.

Budgeting for Life After College; How Much Will Student Loans Cost You?

We asked James Cashman, College Funding Advisor at 3Rivers Federal Credit Union, to share his discussion with students that are considering taking out college loans. Many students don’t take the time to understand their budget after graduation and the impact their loan payments will have on their day-to-day. James gives his advice on how to calculate this cost and see if taking out a student loan is right for you.

We all know – college is expensive – and getting pricier. Industry experts think college costs will increase between 2% and 5% every year. For many students, that could mean thousands of dollars in extra payments.

How does a family deal with rising costs and pay for college? In general, there are four sources of college funding. Every student is different!

1.       Student-earned aid. This comes as a result of the student’s work – whether in an after-school job, in the classroom, or out in the community as a volunteer or innovator. This typically comes in the form of scholarships (or free money) that the student applies for or receives from a college. Another option is the Questa Education Foundation that provides low-interest loan awards that could be up to 75% forgiven. This is a unique loan because a portion of it could be forgiven, and is student-earned. 

2.       Family-earned aid. These are family, and other support system, contributions. College savings plans (check out the Indiana CollegeChoice 529 plan), parental jobs, and graduation gifts are the common methods.

3.       Need-based aid. This category steps in for some students who may lack family-earned aid. The most common measurement of “need” is combined family income. The less money a family makes, the more need-based aid is typically available. Many families expect help here. In reality, only about 35% of students receive the Federal Pell Grant – one of the largest sources of need-based aid. This aid is determined by completing a FAFSA application.

4.       Student loans. Student loans spread the cost of college out. The downside? Students trade payment now (in college) for monthly payments that could last 5, 10, or 20 years after graduation. A student loan is a tradeoff with our future selves.

How much student debt can you afford to take on for your degree? Our advice: do the math yourself.

A helpful way to get a grasp on how student loans will impact you after school is to use a future-focus model on cash flow (income and expenses). Think: what will life after college look like? Where will you work, live, pass time with friends, eat, and spend money? What activities will you do on a weekly basis? Begin by exploring career prospects and understand your potential income. What will your chosen career pay?

Thanks to new tools from the Department of Education, students can now see median earnings one year after graduation from many majors. Find reliable sources – ask internship providers, coworkers, and trusted mentors.

Next, list monthly expenses for your future self. You will want to consider a variety of costs – taxes, healthcare, living costs, fun money, emergency savings, and retirement savings. It will be important to understand how much a student loan payment will be, too. For easy math, use 1% of the total balance as a payment amount.

There are a variety of easy-to-use budget planners on the internet. Feel free to find one that works for you or use this basic excel file template that I use when planning with families. Check out the excel template here. As you calculate your income and expenses, there are a few helpful items to be aware of:

• If you apply for a car loan, apartment, credit card, mortgage, or other form of loan, many lenders consider your debt-to-income ratio. This is a comparison of creditor expenses (housing, auto loans, personal loans, credit cards, and student loans) and monthly gross (pre-tax) income. Debt-to-income ratios above about 40% may lead to declines on future loan requests. Below 40%, many creditors will be more comfortable. In simpler terms, if you have too much debt out of college, you may be less likely to receive a loan for a new car, for example, until you can pay down some of your debt.

• Having a variety of savings opportunities creates financial independence, such as emergency savings, mid-term savings for a future family or a home, and long-term savings for retirement.

• This exercise isn’t set in stone – you can always change your budget. Add and remove expenses, change expectations for life, reduce student loan debt, and do what you can to make sure your budget is in balance. This exercise gives you time to make those changes before you are experiencing life.

If you need help with money – ask. We are glad to support you!  

About the Author: James is passionate about education. He started at 3Rivers in 2016 and has found joy in connecting students with dream careers. In his role as College Funding Advisor, he supports families as they plan for higher education and transition to the workforce. Prior to coming aboard, he studied Spanish and Intercultural Studies at Indiana Wesleyan University, worked as a social worker in Kalamazoo, Michigan, and taught in Barcelona, Spain. Outside the office, he serves on the board of directors at the East Wayne Street Center, a local education non-profit, and enjoys travel, languages, and reading. For more information, visit www.3riversfcu.org.