Oct. 30, 2017—The Millburn-Short Hills Scholastic Boosters, now in its 70th year, has launched its annual campaign to raise funds for the educational grants it provides to local college students trying to close the shortfall in their funding package. Since 1947, more than 1,000 students have received awards totaling in excess of $1,000,000.
“For many deserving local students, the challenge of assembling a financial package to attend college becomes more difficult each year,” says Boosters President Jennifer Baer. “With the unimpeded escalation of college tuition fees, room & board and even textbooks, as well as new hikes to interest rates for both government and private loans, many students and their families in our community face a daunting challenge in assembling a financial package for a college education. “
Baer adds that, “More and more students—as well as their parents—are graduating with substantial debt to repay. The Consumer Financial Protection Bureau reports that over the past decade, graduates owing at least $20,000 have nearly doubled; the percentage who owe $50,000 or more has tripled. Paying back loans has become more taxing as new Federal interest rates for undergrads have spiked by 18%; rates for Parents PLUS loans jumped from 6.31% to 7.00%.
“Unlike government and private loans, support from The Boosters need not be repaid,” she points out. “Every student—and their family—who receives a Boosters Grant has already been willing to put himself or herself under considerable financial obligations that will follow them well past their college years. Nevertheless, they still face a shortfall in their funding package. The Boosters continue to rely on the generosity of our community to help these worthy students bridge some of that shortfall and lessen their financial burdens.”
The Boosters also present an annual “Give-A-Boost” award to a Millburn High senior with an excellent academic record who has shown diverse academic, community and personal interests and accomplishments. The award selection is made by the Boosters’ Board with the assistance of the MHS Guidance Department.
To make a tax-deductible donation to the Boosters— or to obtain a grant application—visit msh-scholasticboosters.org or write to Millburn-Short Hills Scholastic Boosters, P.O. Box 42, Millburn, N.J. 07041. Donations of any size—and employer matches—are very much appreciated.