College of Charleston Launches Initiative to Support High-Achieving Students Facing Financial Challenges

College of Charleston Unveils Game-Changer for High-Achieving Students

In the heart of Charleston, a fresh breeze of hope is blowing for talented students facing financial challenges. The College of Charleston has announced a brand-new initiative called the Meeting Street Charleston Compact. This program aims to make college a reality for high-achieving students from families with demonstrated financial need. Let’s break down what this means for the next generation of scholars!

What’s the Deal with the Charleston Compact?

The Charleston Compact is designed to provide full financial coverage to recipients of the Meeting Street Scholarship Fund who enroll in the College. What does “full financial coverage” mean, you ask? Well, it means that eligible students won’t have to worry about expenses like housing, food, tuition, and required fees. Instead, they can focus on studying and making the most out of their college experience.

Caring About Students’ Futures

According to Jimmie Foster, vice president of enrollment planning, the goal is to increase enrollment of Meeting Street Scholarship Fund recipients. “These students are proven leaders both inside and outside the classroom,” he said. By boosting financial support, the college hopes to encourage more students to make Charleston their home during and after their educational journey.

A Lifesaver for Families

One example of how this initiative is making waves is Caryn Lewis, a sophomore at the College who currently relies on the Meeting Street Scholarship. Just this semester, Caryn was left with a bill of over $1,500, even with a Pell Grant and other scholarships. To bridge that gap, she had to take out a student loan. Caryn’s father, Christopher, shared his gratitude, saying, “This is just going to mean so much to their future—not having that burden of student loan debt.”

Details You Need to Know

A total of 120 students already benefit from the Meeting Street Scholarship Fund, which has garnered attention for being the third-largest program of its kind in South Carolina. The fund operates as a “last-dollar scholarship,” meaning that those who qualify for the maximum $10,000 annual award can have all remaining eligible expenses covered by the College, effectively eliminating the financial gap.

Who Can Participate?

The Meeting Street Scholarship Fund has five simple guidelines:

• Students must live in one of 12 eligible counties.
• Graduates must come from public high schools in those counties.
• Eligibility requires earning a SC LIFE or Palmetto Fellows Scholarship.
• Students need to complete the FAFSA for federal funding.
• Enrolment must be in one of 17 in-state colleges with a graduation rate of 50% or higher.

The best part? Students will not need to apply to access the new Charleston Compact. The initiative aims to start covering additional costs by the fall of 2025, making the road smoother for many.

Long-term Vision in Sight

On top of these exciting developments, the College is also working on further support systems for existing Meeting Street Scholarship recipients. The aim is to ensure that these students not only maintain their scholarships but graduate successfully.

Looking Ahead

As we embrace these promising updates, it’s clear that the College of Charleston is not just focusing on numbers but sincerely caring about its students. It’s about fostering a community where educators and families come together to support the bright futures of students. Undoubtedly, the Meeting Street Charleston Compact is set to uplift the lives of many, ensuring that Charleston remains a hub of opportunity for its younger generations. After all, every student deserves a chance to shine without the cloud of debt looming over their heads!