High school graduation is just around the corner and many parents are preparing to applaud the fine work of their sons and daughters at commencement ceremonies across the country.
While most students have made their decisions about what college to attend next year, many parents are likely still grappling with the daunting burden of paying tuition or helping their kids obtain the necessary financial aid to make college financially feasible.
Studies have shown that an increasing number of students are footing the college bill – from tuition to books – on credit cards when they can’t find other ways to pay for their educational expenses.
However, about 2,700 college-bound students from across the country will find paying for school a bit easier thanks to nearly $8 million in academic scholarships provided by the Wal-Mart Foundation.
The winners of the 2009 Sam Walton Community Scholarship will receive $3,000 that can be spent on tuition, fees books and living costs over the upcoming school year.
"In these tough economic times, every dollar counts when it comes to assuring that parents can afford to send their children to college," said Margaret McKenna, president of the Wal-Mart Foundation.
"By providing deserving students with financial support from the Wal-Mart Foundation, we are continuing to do our part to help assure that students can access the education they need for a better life," she added.
Given ongoing worry about job security for parents and general financial sustainability for families, these scholarships are likely to be very much appreciated.
The money also removes some burden from the educational institutions, which according to the National Association of College and University Business Officers, are inundated with requests for financial aid, but are often times dealing with shrinking endowments and tighter budgets.
