Ferrum College Announces Partnership with Earn to Learn

FERRUM, VA, April 25, 2024 –Ferrum College and Earn to Learn (ETL) announce their partnership to provide Ferrum College students with a new scholarship opportunity. Ferrum is the first college or university in Virginia and on the East Coast to offer the matched savings scholarship program designed to empower students.

With the Earn to Learn matched-savings program, participating students set aside up to $500 per year in order to qualify for up to $4,000 per year in scholarship assistance – an 8:1 match. These dollars become part of the qualifying student’s financial aid package and can be applied to any education-related expense, including tuition, fees, books, transportation, housing and more. 

In a press conference held today at Ferrum College, College President Dr. Mirta M. Martin shared how the Earn to Learn partnership aligns with the College’s continued commitment to affordability. “Education is the cornerstone of progress and opportunity. However, for many aspiring students, financial barriers can stand in the way of achieving their dreams. As the College of Opportunity in Virginia, Ferrum College and Earn to Learn are changing that narrative by empowering students to actively participate in funding their education through their own efforts.

“Ferrum College continues to affirm our mission, by lowering tuition by $10,000, launching our Panther Promise which provides qualifying Virginia residents the opportunity to attend Ferrum College tuition free, and now by partnering with Earn to Learn to provide $4,000 in scholarship funds after a qualifying $500 student-earned match.  This is transformational.  This is the power of people who believe in coming together to help the next generation of leaders have access to a superb, affordable education.”  

Earn to Learn is more than just a scholarship program. ETL’s mission is to empower students to achieve their goals and be workforce ready with little to no student debt, and participating students must complete financial literacy training, and have access to academic coaching, employer mentorships and other assistance to improve their odds of success. 

“For over a decade, Earn to Learn has been helping make college a reality for thousands of low-to moderate-income students. Now, we are thrilled to make our matched-savings program – the nation’s largest and most successful – available to students and families of Ferrum College,” said Kate Hoffman, Founder and CEO of Earn to Learn. “Our innovative model supports students with scholarships, financial literacy training and mentorship opportunities with area employers, helping ensure Earn to Learn scholars not only attend college, but graduate – and all with little or no student-loan debt.”
Director of Financial Wellness Tim Cerebe emphasized the key role of financial support and financial literacy in overall student success. “This funding support is crucially important and can sometimes be the final component to helping students get across the finish line. But the power of this program is that the scholarship dollars are combined with holistic support services including personal finance training, access to academic and success coaching, continuing education, employer mentorships and other assistance to improve students’ odds of success.”

Earn to Learn believes no student or family should have to go deeply into debt in order to pursue a college education, and the program has a decade-plus track record of results:
Nearly 80% of Earn to Learn participants graduate within six years63% are 1st-generation students84% are students of color72% are STEM scholars, meeting highly-sought workforce needsBest of all – most Earn to Learn students graduate with little or no student loan debt!

For full details on Earn to Learn and Ferrum College financial aid package information, please contact the Ferrum College Financial Aid Office. 

Photo Caption: L to R – Earn to Learn National Outreach Program Manager Niko Centeno-Monroy, Ferrum College Provost Dr. Delia Heck, Ferrum College President Dr. Mirta Martin, Earn to Learn Director of Financial Wellness Tim Cerebe, Ferrum College student Makaila Veney, and the Ferrum Panther mascot.
ADDITIONAL CONTACT: Lola Cannaday, Senior Director of Student Financial Services Ferrum College [email protected]