KCTCS NEWS RELEASE - for immediate release
Contact: Bryan Armstrong, (859) 246-3210

Note to editors: Sidebar to release on fund-raising campaign

Project: The Kentucky Colonels Better Life Scholarship Program

Lead Donor: The Honorable Order of Kentucky Colonels

Investment: $320,000 over five years

Purpose: With the help of the Honorable Order of Kentucky Colonels, KCTCS is creating “The Kentucky Colonels Better Life Scholarship Program” in each of its 16 college districts across the Commonwealth. One student in each KCTCS district will be selected by the scholarship committee to receive a $2,500 scholarship to cover the costs of full-time attendance.

Criteria to receive and maintain a scholarship:

• Must be a full-time student pursuing a KCTCS associate degree
• Must be a Kentucky resident
• Must be a single working parent with one or more children under the age of 12
• Demonstrate financial need not met by other sources
  
• Demonstrate enthusiasm for learning and potential for academic success

The scholarship will be renewable for a second year for recipients who continue full-time status and make satisfactory progress toward the completion of the associate degree as determined by the college scholarship committee. This scholarship program will be administered from the System Office in Lexington, in coordination with the college financial aid offices and scholarship committees in each of the 16 districts.

Background: In 2002, more than 38,000 KCTCS students met the eligibility requirements to receive federal financial aid, commonly known as Pell Grants. The average family income of these “Pell-eligible” students was $16,850. Ninety percent of Pell-eligible students received sufficient federal aid to attend school full-time. The 3,800 students left behind were unable to receive the financial assistance they desperately needed. Many are highly motivated and deserving students who desire a better life for their children and know that their only hope is through a college education.

Expected outcomes: Simply put, improved standard of living and quality of life for each scholarship recipient. According to the U.S. Bureau of Labor Statistics, a person with an associate degree can expect to earn $300,000 more over a lifetime than a high school graduate earns - or $600,000 more than a high school dropout earns. In turn, these higher earnings imply increased state general fund revenue and broad benefits. In addition to the economic benefits, higher levels of educational attainment lead to higher standards of living, reduced crime, improved social cohesion and civic involvement, technological innovations, better health, and less reliance on government assistance. A college education not only helps a parent get a better job or make higher wages, but educated parents often transfer their enthusiasm for learning to their children, resulting in improved academic performance of elementary and secondary school children.