TEP’s $20,000 contribution to the Earn to Learn program is helping students from limited-income families pursue higher education degrees.
This fall, another group of 2,500 students across Arizona will participate in the Earn to Learn program. It offers 8:1 matching scholarships of $4,500 to participating students who save just $500 a year. All of the funds can be used toward their educational costs of attending the University of Arizona, Arizona State University or Northern Arizona University.
Besides providing grants, the program also teaches students about financial literacy, balancing responsibilities and saving money through coaching and training.
The program is supported with university funding, charitable contributions and philanthropic gifts, such as TEP’s.
“The generous support from TEP allows us to ensure that each graduate is on track ready to enter the workforce with a credential, critical financial skills and minimal-to-no student loan debt,” said Kate Hoffman, Earn to Learn Executive Director. “We are so excited to be working with TEP as a strategic partner in the future expansion of Earn to Learn.”
Earn to Learn has achieved consistently impressive success rates since it began in 2013. First-year retention rates for participants are 90 percent, and the average Earn to Learn participant graduates with less than $10,000 in debt, compared with $23,000 for the average state university student.