News Release — VSECU
Sept. 24, 2015
Contact:
Yvonne Garand, Senior VP Marketing & Business Development
Ygarand@vsecu.com
802-371-5197
Annual Award Program Aims to Reduce Financial Burden of Student Loan Debt and Inspire Innovative Solutions for Regional Issues
MONTPELIER, Vt., September 24, 2015— VSECU, a not for profit banking alternative for all Vermonters, has awarded a total of $15,000 to help three Vermonters pay down student loan debt. The award is granted annually to applicants who submit an innovative idea that could positively impact Vermonters and/or Vermont communities. Winning ideas must include supporting detail that illustrates how the idea can be implemented.
2015 marked the fourth year of this signature VSECU member award program. The program, called Student LIFT (Loan Independence for Today), awards three VSECU members an amount of $5,000 toward their student loan debt. VSECU makes monthly loan payments, on behalf of each recipient, up to the award amount.
“The Student LIFT program is designed to reduce the financial burden on members with student loan debt. This year, the program also spurred insightful dialogue about the needs of Vermonters,” said Robert Miller, VSECU’s chief executive officer. “The ideas submitted by this year’s applicants are small sparks of energy. With encouragement and support, each one has the potential to improve the quality of life for Vermonters. The next step is putting these ideas to work.”
Historically, applicants applied for one of three awards: Financial Literacy, Service to Vermonters, or First Generation. In the interest of engaging a more diverse population, VSECU broadened the submission process in 2015, challenging applicants to offer a compelling and innovative idea that would help improve the quality of life for Vermonters and/or Vermont communities.
This year’s winning ideas were submitted by Daniel Baslock of Barre, David Narkewicz of Rutland, and Kenzie McDonald of Plainfield. All three recipients were present for an award ceremony on September 16 at the Montpelier branch. The ideas presented by the winners tackled tough subjects like chronic homelessness, financial literacy in younger populations, and whole and local food access for children.
Narkewicz, who proposed an idea aimed at improving early financial education, said “this loan repayment award comes at a great time, as I will be able to continue my master’s education with less of a financial burden.” Baslock and McDonald will use the reprieve from loan payments to focus more attention on their work in the community. Baslock works in community mental health and McDonald grows and distributes medicinal herbs to local people. “I am honored to receive this award,” says McDonald, “so that I can further my path towards financial stability and professional development.”
For program details, including the Student LIFT application and guidelines, please visit VSECU’s website at www.vsecu.com.
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