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April College Cash®

Chidiogo Nkume, whose student loan debt totals $25,977.76 hopes to be awarded a scholarship from Central Scholarship's College Cash program

April College Cash®

Posted: 04.04.16

How much student loan debt do you owe?  You are not alone. Instead of hiding from student loans, create a plan of attack. Join us for a free College Cash® seminar on how to repay student loans. Learn about loan forgiveness programs, how to prioritize payments, how to save money, and more.

Thursday, April 14, 2016 (click to register)
The University of Baltimore, Learning Commons
1415 Maryland Avenue, Baltimore, MD 21201

5:30 pm: Registration
6:00 – 8:00 pm: Seminar

Attendees will be exclusively eligible for up to $5,000 in 2016 College Cash® scholarships. The seminar is free of charge but registration is required. This free event is made possible through the generosity of our sponsors, the Hotel at Arundel Preserve and the University of Baltimore.

Figure carries building blocks spelling out the word DEBT

Student Loan Debt Numbers

Posted: 06.15.15

In honor of this summer’s big announcement that Central Scholarship will be paying off student loan debt, we want to illustrate the student loan debt situation in the United States.  In order to understand the scale of the student loan debt problem in the US, let’s look at numbers. Nationwide, student loan debt is nearly $1.3 trillion dollars. It exceeds credit card debt. A growing number of students – 40 million Americans – have student loan debt. Out of the types of loans that students take out, 80% are Federal loans and 20% are private loans.  Students who take Federal loans often have lower interest and more options to repay and enter into forgiveness programs than students who take out private loans.

Nationwide, 69% of new graduates have student loan debt averaging $28,400. In Maryland, our numbers are lower than the national average, but not by much. In our state, 59% of new graduates have student loan debt averaging $26,300. Young students face a lifetime of loan repayments if they are not savvy.  One third of those in loan repayment are in their twenties, another third are in their thirties, and 29% are in their forties and fifties.  Only 5% are older than sixty. For more information, visit The Institute for College Access & Success and their Project on Student Debt.

We Are Paying Off Student Loan Debt

Posted: 06.02.15

We have big news! Earlier today, Central Scholarship announced a brand-new, life changing program to our current scholarship recipients. Debt-free, or close to it – that’s the promise we make to one of our recipients in attendance at the Student Awards Ceremony on August 5! Central Scholarship will wipe out the undergraduate student loan debt, up to the national average, for one lucky recent graduate. The winner will be selected at random from those who apply. Watch this short video to learn more.

Encouraging A Better Approach to Student Debt

Posted: 05.12.15

Person holding a rolled-up newspaper
On the heels of our “Managing Student Loan Debt” seminars last month, CS Vice President Michele Waxman-Johnson penned an op-ed in The Frederick News-Post detailing the options available to those burdened with student loan debt.  In “Encouraging A Better Approach to Student Debt,” she points to the massive $1.3 million student loan debt borrowed by 40 million Americans and offers loan solutions such as loan repayment and forgiveness programs.  To learn more, click here to read the article.