Student debt is piling up nationwide. Right now, it’s more than $1.3 trillion. Most 2016 graduates from four-year universities took on an average of $37,000 in loans. Their average monthly payment is $351. Many graduates in our area are thankful not to be among that number.
Friday, West Kentucky Community and Technical College held a live and silent auction to help incoming freshmen avoid student loan debt.
WKCTC's goal is to raise $90,000 and send 300 freshmen to school free.
Chandni Joshi earned an associate’s degree from WKCTC tuition free, thanks to many of you. She’s on track to fulfill her dream of becoming a chemical engineer. “I do not have any student debt, and the reason is because the scholarships that WKCTC offered,” Joshi said.
Some of that money came from a silent auction.
If every dollar was a second, it would take more than 32,000 years to equal the amount of student debt in the United States. That much debt could keep someone from buying a car or their first home, but not Joshi. She’s now a student at the University of Kentucky, with far less debt than she could have. “They're paying $27,000 per year, whereas I'm paying $36,000 total for four years,” Joshi said, comparing herself to friends at UK.
Amber Foy is in her second year and plans to start the nursing program soon So far, she has attended WKCTC at no cost. She says the scholarship helps her provide a better future for her and her son.
Last year, 1,100 WKCTC students applied for the scholarships, paid for by fundraisers like this one.