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student debt project student debt project

Graduate with little to no debt.

Reduce your debt while in school.

The Student Debt Project is designed for students who are committed to working part-time while earning their degree. McPherson College will match student earnings applied to their account at $.25 per dollar.

Request Info & Application

About the program

Create your pathway to reduce debt.

The Student Debt Project combines financial literacy education, employment, and mentorship to support students as they balance work, education, and life during their college career, helping them build financial management skills that will last a lifetime.

Wage Match

Enroll in our Student Debt Project and we’ll match the earnings you pay toward your account at $.25 per dollar up to $5,000 in matching funds per academic year.

Just work part-time while earning your degree either on or off-campus or even back home during the summer. Our Career Services office will help connect you with local employers in the area.

Financial Planning

You’ll participate in a variety of workshops that will equip you with personal finance skills necessary to achieve your life goals.

Mentorship

We’ll match you with a Debt Project Mentor who will meet with you in a small group setting to talk through balancing school with employment, managing finances and a monthly financial literacy topic. They’ll help you create a plan to reach your financial goals.

Mentors include a virtual and in-person network of McPherson College faculty, staff, alumni, and friends of the college.

By the numbers

See your progress with every payment.

29%

of students in the program had ZERO DEBT at graduation.

$300k

in matching funds were awarded last academic year.

400+

of our students participate in the Student Debt Project.

3.3

average GPA score of students in the program.

Debt Project Profiles

Taylor Bohannon
Lauren Kunda

  • "Receiving the financial match for every payment you make is a huge help!"

    Taylor Bohannon, Biology major

    Taylor sees her progress with each payment to her student debt and knows it will have an impact after she graduates by reducing or eliminating the burden of college debt. As a student leader in the program, she helps others reach their goals.

  • "Being a student leader in the Debt Project allows me to develop skills that will help in my future career."

    Lauren Kunda, Elementary Ed./Masters in Special Ed.

    Laura Kunda participates in the Student Debt Project and is a peer mentor in the program. She appreciates the opportunity to reduce her college debt and practice skills that give her a better understanding of how to budget her money.

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How it works

What’s possible.

The graphic below illustrates is an example scenario of financial aid and Student Debt Project contributions for the first year. Every student scenario will be different according to their financial aid package and employment.

Student Debt Project example

Project Q&A

Project Details

Student Debt Project Application

Students interested in the Debt Project will complete an application. The application will be reviewed by the Debt Project team which includes the director of financial aid, the vice president for enrollment, the vice president for finance, the assistant controller, and the director of career services. A budget worksheet will be prepared to outline how the debt project can benefit the student. For incoming freshmen, the budget worksheet will show the amount the student needs to earn per year in order to graduate from MC with $0 to $10,000 in student loan debt. Returning students may participate in the program but because of prior loans, they will be less likely to graduate with less than $10,000 in loans.

Student Debt Project Budget

A vital part of the student debt project is for students to understand their personal finances. During the online orientation sessions in early August, students will be asked to create a budget. Through this process, students will examine their income, identify their expenses, and observe how their payments and matches might allow them to reduce or eliminate their need for student loans. Once created, students will continue to track their budget throughout the school year.

Program Coordinator

The Program Coordinator will oversee the project and is responsible for connecting students with mentorship, financial planning sessions, and Career Services to help secure employment.

Contact

For more information please contact Amy Beckman, director of career services, at [email protected].