College students have the opportunity to receive more funding through Access Missouri scholarships. The maximum scholarship award has increased from $660 to $850 for students attending two-year schools and from $1,500 to $1,850 for those attending four year colleges.
Governor Jay Nixon says the increase is good for the economy.
“We count on students to graduate, get jobs and spend money. If students are graduating, getting jobs and paying us back, that doesn’t really help the economy at the level we need.”
Nixon says student loan debt is an increasing problem.
“There’s more than a trillion dollars by students. There’s more student loan debt in America today than there is credit card debt. It’s unbelievable.”
The money for the increase was released by the Governor from the fiscal year 2015 budget. Those funds will be used in the upcoming school year.
Access Missouri is a needs-based scholarship program to help students of low-income families attend a participating Missouri college or university. Approximately 50,000 students receive an Access Missouri scholarship annually.