BY Matthew Nagel
Georgia Tech has launched a program designed to help in-state students whose families have annual incomes of less than $30,000 earn their college degrees debt-free.
Known as the Tech Promise, it is the first program of its kind offered by any public university in the state of Georgia. The program will be offered to all currently enrolled students and incoming freshmen for the fall semester who meet eligibility requirements.
Picking up where Georgia's HOPE scholarship and other financial aid options leave off, the Tech Promise program will be individually tailored for each applicant. Assistance will include scholarships, grants and job opportunities.
The Tech Promise program is expected to make a Georgia Tech education accessible to hundreds of qualified, economically disadvantaged students. Funding for the program, which is initially being provided by the Georgia Tech Foundation, will come from private philanthropy and is expected to require $2 million during the first year of implementation.
The Institute has a permanent endowment goal of $50 million, the income of which will generate ongoing funding for need-based scholarships for Georgia residents that may be directed for the Tech Promise program.
"Georgia Tech has a long tradition of providing access to young Georgians through low tuition rates and one of the world's oldest and largest voluntary cooperative education programs, which enables students to gain valuable job experience while working their way through school," said President Wayne Clough.
"This new financial aid program provides yet another tool to help us remain true to our long-term commitment to open doors of opportunity to all qualified students, especially those from financially disadvantaged families who may be reluctant to apply because of the daunting financial burden attending college will place on their families."
Under the terms of the program, eligible students must be pursuing a first undergraduate degree and must maintain a minimum 2.0 cumulative grade point average.
An annual application is required for Tech Promise and individual evaluations will be conducted to calculate each candidate's specific financial needs.
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