WILBERFORCE– A new report shows fewer parents are saving for their kids’ college education.
Right now, 1.2 trillion Americans are paying off college debt.
The new Wilberforce Promise will fund nearly 100 low income students to keep their money in their wallet.
Under the program, students would get a combination of grants, scholarships and work study to cover the entire four years of tuition including housing and food.
Only first-time undergraduate students are eligible for the Wilberforce Promise. Students have to enroll full-time, live on campus and maintain passing grades.
The Vice President of Enrollment says this a first step in addressing the national epidemic of college debt. Students will get a chance to receive grant opportunities like the Pell Grant or Ohio Grant and work study to help with other university costs.
No application is needed to enroll in the Wilberforce Promise, you only need to be a first year student to be considered. The program will be granted to students on a first come first serve basis.
Wilberforce says their new promise will help about 100 students during the 2015-2016 school year and expect the program grow.
Governor John Kasich is also trying to contain higher education costs. Back in February, he created a task force to see what can be done to leave less students in debt.