Twelve Rockland high school seniors gathered around a long conference table, their laptops open in front of them. The students, applicants for the Worthington College Scholarship for Oceanside East High School Students, were attending the orientation for the workshop “On Your Own with Money: Getting Financially Fit for College.”
A requirement for the applicants is to complete the financial literacy workshop offered by Women, Work and Community before the awarding of the scholarships in June. As part of the program, the students will project their summer job earnings, personal expenses, and savings to help offset their college expenses. They will learn about ways to reduce their college costs and evaluate the pros and cons of student loans. They will research the average starting salary for their career goal, and use that figure to identify the maximum they should borrow to complete their education based on the monthly re-payments.
The program is part of a larger asset development initiative supported by the Worthington Foundation, which includes Family Development Accounts for Knox County residents.