Cashing in on the Promise of College

by Gary Toebben

Each year thousands of qualified high school seniors do not apply to college because they fear the financial barriers are too great and they are unaware of opportunities to secure financial aid. In 2014, the “California Financial Aid Tracker” from Education Trust-West revealed that 40 percent of California’s public high school graduating seniors do not file financial aid applications and leave millions of dollars of financial aid unused. 

For many students and their families, completing the financial aid application process can be daunting. The numerous requirements and forms to be completed can be confusing – particularly for students who would be the first in their families to go to college.

At the same time, the need to prepare our students for success in higher education has never been greater. Projections show that more than 67 percent of jobs in California will require at least some college by 2030, including 38 percent requiring at least a bachelor’s degree.  Achieving a college degree is an opportunity to be part of the middle class, and the key to ensuring the economic viability of our region and state.

That is why the L.A. Area Chamber is a leading partner in the statewide Cash for College campaign. Our members are committed to doing all they can to ensure that every qualified student who wants to continue their education has the opportunity and the funding to do so. 

Now in its 15th year, Cash for College helps students and their families apply for state and federal financial aid. In 2015, with the help of our partners and dedicated volunteers, more than 7,000 L.A. area students served by Cash for College accessed more than $35 million in state-funded Cal Grants and federal Pell Grants. For many students, those grants were the key to making their college dreams a reality.

Starting the first week in January and through the March 2 financial aid filing deadline, Cash for College will be hosting 170 FREE financial aid completion workshops throughout the Los Angeles region. At these workshops, students and families will learn about the different types of financial aid available to them, and they will receive assistance from trained volunteers to complete their applications at computer labs onsite. Assistance is available to students regardless of their immigration status, and all students have the opportunity to win an additional $1,000 scholarship funded by the Chamber and our members.

We’re proud of the investments we are making in our young people and the future workforce of our state.  If you would like to help, contact Paola Santana, 213.580.7586.
And that’s The Business Perspective.