Peninsula College students who are unable to make ends meet and need a little extra help to make their college dreams come true are in luck, thanks to an anonymous donor who has contributed $5,000 to the Peninsula College Foundation to be used specifically for student short-term emergency loans.
“This generous contribution will help students in need pay for necessary education costs and allow them to continue to pursue their educational goals while their financial aid forms are being processed,” said Mary Hunchberger, executive director of the Peninsula College Foundation.
“The foundation has seen a recent increase in emergency loan requests, primarily due to cuts in state and federal financial aid, increased enrollment and the state of the current economy,” Hunchberger said. “The loans provide students with the necessary funds to pay tuition and fees or purchase textbooks and allow them to remain enrolled in their classes while they wait for their financial aid funding.”
All awards are based on available funds. Students must meet certain criteria to qualify for short-term loans from the foundation. Those who qualify include students who are expecting financial aid but haven’t received it yet, who require other/additional assistance, who are registered for a class or classes leading to a certificate or degree, or whose net amount of financial aid will not cover payment for all outstanding tuition and fee charges.
“One of the best parts of my job is helping students in need continue their education,” Hunchberger said.
“In the past few months more students have needed help funding initial tuition installments and book purchases due to the increase in financial aid applications, which extends the processing time. Students are grateful to get the funding as it is sometimes their last resort.”
One student who was a recent recipient of the emergency loan program told the foundation: “I am a very fortunate person indeed to have received an emergency loan to cover the cost of my textbooks for summer quarter. Currently, I am not employed and did not have enough money to pay for them myself. I would not be able to attend summer school if it weren’t for the generosity of the Peninsula College Foundation.”
Hunchberger noted that the emergency loan fund was started many years ago by a sizable donation, which has dwindled over the years due to the increased demand for funding.
For more information about giving to the Founda-tion Emergency Loan Program or other giving opportunities, call the Peninsula College Foundation at 417-6535.