Oakwood University recently announced the launch of a new financial aid program designed to engage students who have stopped-out to return and complete their degrees.
OU’s ‘Debt Amnesty’ program will forgive outstanding balances for students who have not enrolled in courses for the last five years, but wish to return to finish coursework towards an undergraduate degree. Officials say the program aids both families and the institution’s enrollment development strategy.
“When students come to Oakwood University and are unable to complete their degree we all lose. We want all those who still need to complete their degrees to know that we see you, you are important to us and above all, we want you to finish,” states Tricia Penniecook, MD, vice president for Academic Administration.
The debt amnesty program will accompany a new church subsidy scholarship program, which will allow students employed by, or children of parents employed by the Seventh-day Adventist Church to receive matching funds for up to 30 percent of tuition paid by the church.
“These scholarships represent not just an opportunity for former or future Oakwoodites to earn undergraduate degrees, they also provide our Adventist system employees with greater tuition assistance for their young people who attend or will attend Oakwood,” said Oakwood President Leslie Pollard. “The best long-term strategy in the midst of this global economic recession is to make yourself more competitive by getting your education.”
The new scholarship programs will debut in fall 2016.