Dollars & Sense
Funding issues affecting America's Colleges
Wyo. Scholarship Program Falling Short of Costs
CHEYENNE, Wyo. (AP) — The state of Wyoming’s Hathaway Scholarship program isn’t keeping up with rising costs of attending the University of Wyoming or the state’s community colleges.
The state started the Hathaway Scholarship program in 2005 to assist qualifying Wyoming high school graduates.
The Wyoming Tribune-Eagle reports (http://bit.ly/1F6eR30) that some state lawmakers are considering whether the state should act in the current legislative session to increase awards under the program.
Other lawmakers say the best time for approving an increase in scholarships may be during next year’s budget session. The Legislature last year approved a 5-percent increase.
RI College Savings Plan Contributions Top $1 million
PROVIDENCE, R.I. (AP) — Contributions to Rhode Island’s tax-advantaged college savings plan have topped $1 million.
The Providence Journal reports (http://bit.ly/1A9lTj5) CollegeBoundfund is intended to encourage families to save for higher education expenses at accredited colleges, universities, and vocational or trade schools nationwide.
More than 25,000 CollegeBoundfund accounts have been established for Rhode Island beneficiaries with assets under management of more than $355 million.
The online gift tool is popular during holidays and other milestones.
Gail Mance-Rios, acting executive director of The Rhode Island Higher Education Assistance Authority, says contributing to a CollegeBoundfund account sends a message that donors believe in a child’s future and are invested in their education.