COLLEGEVILLE, Pa. (WHTM) – Higher education can cost a fortune. Next to buying a house or a car, that diploma isn’t cheap.
Ursinus College in Collegeville, Montgomery County is a small private liberal arts school with a big idea to help students save with something called the Gateway Scholarship.
“It puts us on the same playing field as many of the state schools that are out there right now. So families can start having conversations around fit instead of conversations around finances,” said David Tobias, vice president of enrollment at Ursinus.
Starting in the fall of 2017, all full-time, first-year students with a SAT score of 1260 or higher or an ACT score of 28 or higher will automatically be considered for the Gateway Scholarship. A student will be awarded $30,000 in academic aid for each of the next four years. That nearly cuts that $62,000 annual bill for tuition and room and board in half.
Even students with a lower SAT or ACT score can still get academic aid, just not as much. Students who qualify for the Gateway Scholarship can also still apply for need-based financial aid to slash costs even more.
“This scholarship really gives them an opportunity to say a private education is affordable, accessible and here’s how if you are a high-achieving student,” said Tobias.
Ursinus College also feels the Gateway Scholarship is a way of responding to a national call for colleges and universities to lower costs and address the student loan debt crisis that cripples countless kids after graduation.
For more information on the Gateway Scholarship, go to www.ursinus.edu.