Low-income families from Boston, Lynn and Chelsea save $67,000 to send their children to college through nonprofit matching program
Fifty-six low-income families will send their graduating seniors to college this fall, after completing FUEL Education's matched savings program and college planning curriculum. The families - from Boston, Lynn and Chelsea - each saved an average of $1,200 toward their children's higher education costs.
One hundred percent of the program's graduating seniors will attend a range of colleges this fall -state universities and UMass schools will welcome 44 percent of FUEL's current class, while 37 percent will attend private or out-of-state colleges, and 19 percent will head for community college.
"Families of all income levels strive to help their children achieve better lives through higher education, but many lack the resources and tools to save and plan for college," Executive Director Gene Miller said. "Our program - which educates parents and supports students throughout high school - truly works. And that's never been more apparent than this year, with our entire 2013 graduating class headed for college."
FUEL parents set aside a total of $67,000 for their children's higher educations during the 2012-13 academic year, pushing the total saved by more than 500 FUEL families since 2009 to nearly $375,000. In addition, this year's graduating FUEL students have earned more than $40,000 in private and academic scholarships.
As of this fall, 17 FUEL graduates will be enrolled at Salem State University, six of whom will be on either full or partial scholarship through an innovative Compact Scholarship agreement between the organization and school. The successful partnership, entering its third year, will be celebrated at an upcoming reception with Salem State President Dr. Patricia Maguire Meservey. FUEL now has more than 40 Compact Scholarships, which allow students to graduate with little to no debt, at Salem State University, UMass Boston and Bunker Hill Community College.
In addition to Salem State, this year's graduating FUEL seniors will also attend Northeastern, Howard, Boston and Georgia Universities, as well as UMass Amherst and other state and local colleges.
About FUEL Education
FUEL Education fuels the college dreams of underserved families. It is a high-impact, innovative nonprofit, providing knowledge, connections and financial incentives that empower low-income families to propel their children into higher education. FUEL was founded by Robert Hildreth, a banker and social entrepreneur, in 2009. The program currently runs successful sites in Boston, Chelsea and Lynn, Massachusetts. More information is available at www.fueleducation.org.