14 The Hampton Roads Messenger


Volume 10 Number 6


Students from 20 V.A. Colleges Discuss Student Debt with U.S. Senator's Warner & Kaine


1.3 trillion in total U.S. student debt; average V.A. Graduate is $26,000 in the red


Nextel, introduced two pieces of legislation


last week designed to


help borrowers better manage their student loan debts: one would make income-based repayment the default option for borrowers, and the other would


allow employers to apply


pre-tax income to help their employees with student loan payments. Sen. Warner also is an original cosponsor of The Student Right to Know Before You Go Act, which will provide college-bound students powerful new tools for comparing colleges and universities on measures such as total cost, likelihood of graduating, and potential earnings by program.


Photo Courtesy, Mark Warner's Flickr Page leaders


WASHINGTON – Student from


20 Virginia colleges


traveled to Capitol Hill on Wednesday to discuss their challenges paying for college and the impact of rising student loan obligations during a roundtable conversation organized by U.S. Sens. Mark R. Warner and Tim Kaine (both D-VA). The students


represented a


diverse cross-section of Virginia’s public and private, two- and four-year colleges and universities.


college


An estimated 60% of Virginia students


graduate with


student debt, and the average debt load in Virginia now tops $26,000 per graduate. Nationwide, Americans owe more than $1.3 trillion in student loan debt, outstripping credit cards and auto loans as the country’s leading source of non-mortgage debt, according to the Federal Reserve.


The students shared their


concerns about the rising costs of higher education with Sens. Warner and Kaine, and many urged more transparency and flexibility in college loan application programs.


Constance Garner, senior at


pay for the semester. The financial burden caused severe stress on me that caused me to become ill,” said Neal, who expects to graduate with $30,000 in student debt.


Richard Bland College student


Reeve Ashcraft expressed concerns about the lack of transparency and accountability in overall college costs, noting that


faculty five-figure debt.” James Madison University


and repayment a


Longwood University, has worked two campus jobs to help cover the costs of room and board. “I am from a very small town in southern Virginia where students are


lucky to receive any


type of higher education, much less a bachelor’s degree from a four-year institution,” Garner said. She expects to graduate owing more than $35,000 in student debt.


William and Mary student


Yohance Whitaker recommended more transparency and consumer information


for potential borrowers


when they’re filling-out their standardized financial aid form, called FAFSA. “I’d really like to see some kind of program where we’re educating our students on what it means when they’re looking at their FAFSA, what it means when they’re looking at their loans. What are some of the ways we can educate our students so that when they’re looking at


their loans, they


know what makes better sense for their own financial situation?”


Tralen Neal, a senior at Mary Baldwin College,


physical and emotional impacts


discussed the of


financial stress felt by many students and their families as they struggle to pay for college. “My mother is a single parent and all financial responsibility fell on her,” Neal said. “I was forced to miss the first couple of days because my mother did not have the funds to


student Ryan Windels said many of his classmates may not understand the full impact of their obligations under the dizzying array of student loan programs. “I was talking with some seniors who are graduating with me in May, who don’t know what their loan payment schedule is going to be, they don’t know what they owe in the first year and as much as it is crushing them… I think that’s something that we can easily do better, educating people on how the loans work and what they should expect coming out.”


Virginia Union University student


Quanaisha Smith-Epps worries about the opportunity costs of college debt. She says the need to work while attending school limits the ability of many students to pursue internships and other opportunities which could provide a head start on an eventual career.


consideration of the Higher Education Act,


As the U.S. Senate begins lawmakers will


a proposal to allow package consider borrowers


to refinance existing loans to achieve lower interest rates. Senate Democrats have united behind a


of initiatives, dubbed


#InTheRed, designed to address college affordability and student debt issues. Both Virginia Senators have introduced specific proposals as well.


“These campus leaders offered


compelling personal stories to illustrate the crippling impact of student loan debt on a generation of young Virginians, limiting their options and opportunities as they graduate and join the workforce and plan their futures,” Sen. Warner said. “As the first person in my family to complete college, I know that if I had graduated with today’s levels of student debt, I would not have had opportunities to try – and to fail – with several of my early business ventures.”


Sen. Warner, who eventually went on to cofound the wireless company


members students are graduating and


administrators at some U.S. colleges “earn seven-figure salaries while their


with legislation


Sen. Kaine has introduced tackling


affordability college concerns, including


increased dual enrollment options for high school students and additional tools to help students and families better calculate college costs. Kaine has


also introduced the


Our Businesses By Supporting Students(JOBS) Act, legislation


Jumpstart that


would amend the Higher Education Act by expanding Pell Grant eligibility


February 2016


to students enrolled in short-term job training programs.


“Senator Warner and I hosted this roundtable to hear directly from student colleges


leaders at universities and across Virginia on ways


we can help alleviate the burden of student loan debt, which has surpassed credit card debt in America. We also discussed pathways that can make higher


including


education dual


more enrollment


affordable, courses


during high school and career and technical education programs,” Sen. Kaine said. “I’m focused on college affordability because students should be able to afford a higher education and have a successful start to their careers without being weighed down by insurmountable debt.”


representatives


The roundtable included student from Christopher


Newport University, the College of William and Mary, Ferrum College, George Mason University, Hampton University, James Madison University, Longwood University, Mary Baldwin College,


Norfolk State Richard University,


Old Dominion University, Radford University, Randolph-Macon College,


Thomas Nelson Community College, Tidewater


Community


University of Mary Washington, University of Virginia,


Bland College, College, Virginia


Commonwealth University, Virginia State University, and Virginia Union University.


Scholarship Watch Blacks at Microsoft Scholarships


Blacks at Microsoft (BAM) is a company- sponsored employee network


to supporting the continued growth and development of black employees at Microsoft Corporation. This year, BAM will award two US$5,000 scholarships to outstanding high-school seniors who are interested in pursuing careers in technology.


dedicated


scholarships are renewable, so winners who continue to meet the criteria can receive an annual $5,000 award for up to four years.


Requirements


To be considered for a BAM Scholarship, you must:


Be a high-school senior of African descent (for example, African American, African, or Ethiopian).


Plan to attend a four-year college or university in the fall of the year following high-school graduation.


Plan to pursue a bachelor's degree in engineering, computer science, computer information systems, or select business programs (such as finance, business administration, or marketing).


Demonstrate a passion for technology. Demonstrate leadership at school or in the community. Have a cumulative GPA of 3.3 or higher. Require financial assistance to attend college. How to Apply


To apply for a BAM Scholarship, print and fill out the application. Enclose it in an envelope with the following items:


Two letters of recommendation. At least one letter must be from a faculty or staff member at your school. Letters of recommendation should be original and should not be duplicates of college recommendation letters. (Letters must be on letterhead.)


Résumé. Your résumé should include the following information: —Extracurricular activities (school and community related)


—Honors and awards that you have received (if possible, include awards that are technology related) —Work experience Picture of yourself.


Transcript. Include an official "sealed" copy of your current academic transcript. (Unofficial copies will not be accepted.) Two essays.


1. In no more than 500 words, describe how you plan to engage in the technology industry in your future career. (If you have done exemplary work using technology during high school, please describe that also.)


2. In no more than 250 words, demonstrate your financial need for this scholarship.


Mail your completed application to the following address by March 1. You will receive a response by April 15.


Apply Online at:


The Seattle Foundation c/o BAM Scholarship 1200 5th Avenue, Ste. 1300 Seattle, WA 98101


www.microsoft.com/en-us/diversity/pro- grams/blacks-scholarships.aspx


www.cappex.com/scholarships/ Or Visit:


The


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