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Mississippi State University has partnered with Delta Health Alliance to assist 400 low-income students with money for school and financial education.
MSU and Delta Health Alliance will provide a total of $1.15 million to assist low-income students through the MSU/DHA Delta DREAMS Savings Grant. The university will supply $575,000 to match $575,000 in Delta Health Alliance grant funds.
The grant program will assist 400 low-income students over three years by guiding them through the process of opening a savings account for educational expenses. The MSU/DHA partnership will then provide $4 in grant funds for every $1 deposited into the account by the student, providing the student with up to $2,500 in grant funds to help with the cost of paying for college. MSU Financial Literacy Coordinator John Daniels, who initiated the partnership, will lead financial education efforts for the grant recipients.
“The process of having a savings account and making regular savings deposits will be part of this learning process,” Daniels said. “Another aspect will be a two-hour financial literacy seminar they will all participate in. We’ll discuss budgeting, why saving money is important, understanding interest and loans – and various ways to pay for school.”
This is the third savings grant program begun in the last two years by MSU’s Office of Student Financial Aid. Combined, the grants total $2.7 million over five years and assist 1,000 low-income students. The department will use FAFSA data to select participants for the program.
Both Director of Financial Aid Paul McKinney and Daniels said they are appreciative of the university providing matching funds that will help low-income students succeed in college and beyond.
“The Office of Student Financial Aid works very hard to remove financial barriers for under resourced students. We want to help them graduate from MSU and reap the lifelong benefits that come with degree completion.” McKinney said.
Delta Health Alliance is a non-profit organization that is changing health care and education in the Mississippi Delta by improving access to health services, promoting healthier lifestyles and expanding educational opportunities. For more, visit deltahealthalliance.org.
MSU is Mississippi’s leading university, available online at www.msstate.edu.
MSU Photo ID: John Daniels (Photo by Beth Wynn).
