Difficult economic times create financial challenges for students and their families. Benedictine University wants to ensure that its students do not find themselves unable to continue their education.
Begun in the Spring 2009 semester, current students whose parents or guardian become unemployed or whose financial situation radically changes because of the current economic crisis may take advantage of Benedictine University’s "Displaced Earner Program."
The advisory program is designed to help those students who have exhausted all avenues of funding to continue their education. If a student is eligible for any type of loan, he or she must pursue those avenues before further consideration of awarding additional financial assistance.
"No parent should have to tell their child that they cannot go to college because they can’t afford it," said Benedictine University President William J. Carroll. "Doing whatever we can to help our students is the right thing to do. It’s the Benedictine thing to do. We want to impact our students in a positive way and help their parents.
"These families sent us their children when their financial situation was good," Carroll added. "We’re not going to abandon them now because times are difficult."
"The Displaced Earner Program" is a three-pronged advisory plan that meets different needs for all students, such as current traditional undergraduate students whose financial situation has changed, students who have graduated from Benedictine but have been unable to find employment, and adult undergraduate and graduate students who find it difficult to continue their degree program.
The program is part of Benedictine’s efforts to help families cope with the country’s financial crisis. In October 2008, Benedictine announced a tuition freeze through Spring 2010 for all students already attending Benedictine and through Spring 2011 for the fall 2009 freshman class.
"We understand students and their families face enough challenges during these difficult economic times," Carroll said. "If they should lose their jobs or if their financial situation de-stabilizes, we want to work with them to determine how to fund the student’s education."