Greater Spokane Inc Why Students Have Access To Employer Financial Aid

April 22, 2021

Each year, the Department of Education distributes $ 120 billion in grants, loans, and tuition to more than 13 million current and aspiring college students across the country. What is the secret to unlocking this financial aid? Complete the Free State Student Aid Application (FAFSA), which is open from October 1st to June 30th for the following school year. Because the financial support is distributed on an ongoing basis, the sooner a student completes the FAFSA, the more likely it is to complete it. the more likely they are to receive generous help.

Currently, only 43.2% of high school graduates in East Washington’s Education Services District, ESD 101, have completed their FAFSA. This is a significant decrease compared to previous years. Studies have shown that students are 84% more likely to complete post-secondary education by completing an FAFSA. Access to financial aid affects not just applicants, but our entire regional economy.

But why is this important for your company? Without this help, many students cannot receive post-secondary education or training programs that equip them with the essential skills required to thrive in today’s workforce. Local businesses will look for talent outside of the region to perform the critical jobs that make a vital economy possible.

According to the eastern region 2020 STEM By The Numbers Report82% of 32,220 jobs that pay family wages in our region require ID. However, recent trends show that local students will only fill 11% of these jobs per year. Completing the FAFSA is a critical step in obtaining and funding post-secondary credentials (certificate, degree, or education). Aid is available to anyone with a household income below $ 250,000, which is 95% of Americans.

The Spokane STEM Network, housed within GSI’s Education and Talent division, works with local organizations, school districts, and corporations to increase the number of students who complete their FAFSA. Last fall, Spokane STEM received a grant from Washington STEM to help the College Success Foundation (CSF) provide ten virtual workshops for parents and students to process their applications.

The GSI Education and Talent Alliance aims to improve the FASFA completion of our region and calls on companies to reinforce and support this aim. STCU responded to the call to get involved and is hosting several workshops for its staff, in partnership with the Central Valley School District and CSF, to provide information and assistance about FASFA.

This press release was produced by Greater Spokane Inc. The views expressed are those of the author.