Rising student debt due to soaring college tuition has caused some community leaders to think outside the box when it comes to scholarship programs.
A new Reverse Scholarship Program introduced by the Community Foundation of St. A reverse scholarship is a talent-retention program that will pay students on the back end of their college career, after they have completed a degree in a STEAM-related field science, technology, engineering, arts and mathematics but only if they agree to move back home and work within the county.
Eager to get started, the Community Foundation of St. Clair County, said he thinks the success of reverse scholarships will cause other states to re-invent their definitions of scholarships.
Maiers said the premise for the program came to him a couple of years ago while he was helping the Huron County Community Foundation with their strategic planning.
“A few of their donors wanted to know what community foundations could do to bring college kids back home after college,” he said.
They began working together to find the answer.
Mackenzie Price, director of the Huron County Community Foundation, started brainstorming with Maiers and their legal counsel at Clark Hill to plot out a community foundation-led effort addressing talent attraction and retention. The result is the new Reverse Scholarship Program, Maiers said.
“We anticipate that this reverse scholarship award will appeal to young college graduates in their mid- to late 20s,” he said, “who still have some student debt and are weighing their options for returning home to start a family.”
The community foundations in Huron County and St. Rising student debt due to soaring college tuition has caused some community leaders to think outside the box when it comes to scholarship programs.
A new Reverse Scholarship Program introduced by the Community Foundation of St. Phil Pavlov believes Michigan’s economy is indeed turning around; yet still, graduates are leaving for greener pastures elsewhere.
“I commend the work of our local community foundations in identifying solutions like this Reverse Scholarship Program that can help restore prosperity to our region, and I’m proud to assist the effort in Lansing with a senate resolution that lets them better engage philanthropy and attract talent at the local level,” he said in a statement.
Traditional scholarships are awarded and paid on the front end of a student’s career, with no guarantees they will complete their studies, graduate from college or, if they do, return to their communities to help contribute to its growth and prosperity. Clair County, said he thinks the success of reverse scholarships will cause other states to re-invent their definitions of scholarships.
Maiers said the premise for the program came to him a couple of years ago while he was helping the Huron County Community Foundation with their strategic planning.
“A few of their donors wanted to know what community foundations could do to bring college kids back home after college,” he said.
They began working together to find the answer.
Mackenzie Price, director of the Huron County Community Foundation, started brainstorming with Maiers and their legal counsel at Clark Hill to plot out a community foundation-led effort addressing talent attraction and retention. The result is the new Reverse Scholarship Program, Maiers said.
“We anticipate that this reverse scholarship award will appeal to young college graduates in their mid- to late 20s,” he said, “who still have some student debt and are weighing their options for returning home to start a family.”
The community foundations in Huron County and St.
