To make the university more affordable and accessible, Martin College cuts tuition fees by nearly half for eligible students and writes off up to $10,000 of debt.
Leaders of a small private school near the northeast corner of Indianapolis said the initiative, called the Reset to Rebuild Campaign, marked a historic moment for the institution, its students, and the city.
Sean Huddleston, Martin President, said: “However, even if we enjoy our careers, making student loan payments can hinder our ability to achieve our financial goals and be fully involved in the economic vitality of our city and state. I also know.”
Martin currently has approximately 225 students enrolled. It is Indiana’s only predominantly black institution of higher education that serves a largely non-traditional population of adult learners from low-income households. Huddleston said addressing the issue of college affordability is morally imperative. While plaguing institutions, students and families across the country, the cost of higher education is particularly taxing for those Martin serves, but they may also gain more, Huddleston said. rice field.
Beginning in January, tuition for undergraduate programs will be reduced by 45%. Her one year of education and tuition at Martin cost him $8,800. Huddleston said this would allow low-income students who qualify for the highest levels of federal and state aid to graduate Martin debt-free.
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In addition to reducing tuition fees, Martin will also clear the account balances of eligible students who have begun their education but have not completed their degrees. The hope is to encourage students to return to Martin to complete their education.
The university estimates that as many as 300 former students could benefit from the balance elimination.
“moral issues”
The move was hailed Thursday by local and state leaders as an important step to improve educational attainment.
“We, too, are committed to making Indianapolis a thriving place for everyone,” said Mayor Joe Hogsett. You should expect access to the tools you need to climb the ladder.”
Over the last few years, Indiana’s college enrollment rate has dropped dramatically. A total drop of 12% over five years, from 65% in 2015 to just 53% in 2020.
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Black students experienced the biggest drop in college enrollment before and during the pandemic compared to all other races and ethnicities, dropping 7 percentage points, while Hispanic and Latino students 6 percentage points down. Low-income students were significantly less likely to go to college than high-income students.
“This is a moral concern of our time,” said Chris Rowley, a commissioner of higher education in Indiana. “And the steps being taken by this agency are squarely aimed at these challenges. No Hoosier can be left behind.”
years of process
The move wasn’t recently announced by President Joe Biden, and the U.S. Department of Education will reduce federal student loan debt by up to 20,000 to borrowers who qualify for Pell grants while in college, according to university officials. and forgive up to $10,000 to other borrowers. You must meet the income requirements.
Huddleston said they’ve been working for several years to put the university in a financial position to make this change possible.
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Historically, Martin students owe more debt than students at the school. Huddleston said this is not surprising given that more than 90% of her college students qualify for her Pell Grant, a federal grant for low-income earners. says. That means most of them have to shoulder a lot of debt to get an education. There is even more reason for Martin to take steps to lower attendance costs, he said.
“We recognize that we have a moral and ethical obligation not to expose or keep low-income people in debt bondage,” Huddleston said.
While the federal government forgives student loan debt, Martin forgives outstanding balances owed to college.
Expanding employment opportunities
Universities are also working to make the education they offer better suited to their students’ life goals by matching them to the needs of the workforce. We are expanding our Martin WORKS apprenticeship program, matching students with paid apprenticeships, to all students, and enhancing our pre-learning assessment initiative to assess life and work experiences.
Most of Martin’s students are non-traditional. I mean, they’re old. Typically, they go back to college for a degree they started years ago, or undergo training to enter a new field.
They are students like Sabae Martin, who raised two children and pursued careers as paralegals before returning to school at age 65 to pursue a degree in addiction counseling. Martin said she’s excited to enter the next season of life that her degree will enable.
College, she said, has not only enabled her to return to the classroom decades after she sent her own children to college, but it has also enabled them to grow up. Thanks to her credits received through her pre-learning assessment initiative, she plans to graduate with a Martin degree in less than three years. And soon she will start her paid apprenticeship through Martin WORKS.
“When I’m in class, I see different people sitting around me: aunts and grandmothers, uncles, people my age and even younger people,” she said. “With help, it’s great to try to improve your position in life.
“And Martin does it.”
Martin is currently enrolling students for January when the new tuition begins.
Call IndyStar Education Reporter Arika Herron at 317-201-5620 or email Arika.Herron@indystar.com. Follow her on her Twitter: @ArikaHerron.
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