READING, April 22, 2014 – Students planning to attend college or return to a post-secondary institution and need help paying for it have until May 1 to apply for a state grant through the Pennsylvania Higher Education Assistance Agency, or PHEAA, state Sen. Judy Schwank said today.
“Earning a college degree is one of the best ways to get ahead in the work world but getting to college is not always the most affordable,” Schwank (D-Berks) said. “PHEAA can make it possible, but students and families who have yet to apply for financial aid have just nine days to do so.
According to the federal Bureau of Labor Statistics, the average unemployment rate for Bachelor’s degree recipients was 4 percent while the average unemployment rate for high school graduates was 7.5 percent. People who have less than a high school diploma suffer a jobless rate of 11 percent.
In terms of salary, the bureau said median weekly earnings for a person with a Bachelor’s degree was $1,108, $651 for a high school graduate and $472 for workers who did not graduate from high school.
To become eligible for a state grant through PHEAA, Schwank said applicants must first complete the 2014-15 Free Application for Federal Student Aid, or FAFSA. Applicants can access both applications through the PHEAA website: www.pheaa.org.
“The time and energy you invest in your education will pay dividends in the future,” Schwank said. “I started as a teacher and worked for many years as an educator and director with the Penn State Agriculture Extension Office and served as a Dean at Delaware Valley College. I know that the power of a good education transforms lives.”
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