29 Aug Foundation to offer student loan repayment program
The McPherson County Community Foundation (MCCF) is excited to announce a partnership with the Kansas Department of Commerce to bring the Rural Opportunity Zone (ROZ) Student Loan Repayment Assistance program to McPherson County.
The program, established in McPherson County in 2021, allows for a local fiscal sponsor and the state of Kansas to give up to $15,000 in loan repayments over five years.
The Foundation is the second McPherson County organization to serve as a fiscal sponsor, joining the City of Lindsborg (2022), and will open the program to the entire county. For 2024, MCCF can serve as the sponsor for two individuals.
The ROZ Student Loan Repayment Assistance program stands to serve as a boon to local industry’s ability to recruit outside talent to the county. While spots are limited for 2024, there is an ability to expand the program with local support.
Through a match provided by the State of Kansas chosen applicants will receive $3,000 annually towards their student loans. $1,500 from MCCF and $1,500 from the state. Applicants will receive this benefit for up to five years, or until they leave the county.
“We do a great job of sending our high school graduates off to obtain a higher education with scholarships, but we are now realizing that we are not doing a good job of bringing those educated graduates back to our county.” Michelle Huddle, MCCF CFO said, “We hope that through our sponsorship of the ROZ program, we will increase our chances of bringing those educated graduates to our communities.”
It should be noted that this program is intended to be used for the recruitment of new or returning talent to McPherson County. Those who have held a permanent address in McPherson County would not be eligible to apply.
The deadline for individual applications is Sept. 30 and applicants must meet the following criteria:
- You must have a newly established permanent address in McPherson County, so long as that address was established after the county began participating in the program (For MCCF’s Program: July 1, 2024).
- Applicants must have an active student loan balance in their name, as well as an associate’s, bachelor’s or post-graduate degree prior to moving to the participating county.
- To apply, you will need to provide proof of domicile in the ROZ County, proof of previous permanent residency (prior to earning your degree), transcripts with degree dates and student loan balance with distribution dates.
A link to the application site can be found here: https://www.kansascommerce.gov/program/taxes-and-financing/rural-opportunity-zones-roz/
For any questions about using the program for recruiting, or about the program in general, please contact Michelle Huddle at: 620-245-9070 or Michelle@mcphersonfoundation.org.