Chicago Based Financial Services Company, OppLoans Offers OppU Achievers Scholarship Program.
OppLoans, a Chicago based financial services company, is firmly committed to educating young people about financial literacy and responsibility. For college students, financial responsibility and literacy go well beyond managing student loans.
OppLoans offers an interactive financial literacy course called OppU. The course that’s designed to help students learn the ins and outs of financial responsibility and literacy, is divided into four main subject areas:
- Freshman: Spending
- Sophomore: Budget & Saving
- Junior: Credit
- Senior: Debts & Loans
The course is free and standards aligned.
OppLoans knows that for many students, college will be the first time in their lives where they need to consider the costs of things like milk, cereal and doing laundry. Students often get shell shocked when they realize they have to budget and pay for everything themselves.
OppLoans also wants students to understand how each decision they make, involving money, can affect other things in their lives. Instilling these skills in college students now, makes them better consumers later.
OppLoans also wants to help students get into college and take the courses they want to take. That’s why they’ve started offering the OppU Achievers Scholarship program.
The OppU Achievers Scholarship awards four $2,500 scholarships each year to students who have demonstrated outstanding academic and personal success. Submissions are accepted year-round and scholarship recipients are selected quarterly. To apply, students write a short essay and submit it through the scholarship’s web portal.
OppU structured the scholarship program to accommodate the wide range of students seeking higher learning today. Recognizing that 37 percent of students are not in school full time, OppU opened the scholarship to applicants with part-time enrollment. And because more than a quarter of students are between 22 and 29 years old – and another 20 percent are 30 or older – OppU did not set a maximum age limit. The scholarship is open to seniors in high school, college students, and those attending graduate, professional, or trade school.
“We believe that education drives success, and we want to help remove financial barriers that might prevent students from reaching their goals,” said Jared Kaplan, CEO of OppLoans, the Chicago-based financial firm that developed OppU. “The OppU Achievers Scholarship celebrates students who have created opportunity for both themselves and others.”
The OppU Achievers Scholarship has honored four students to date. Recipients include a student at Chapman University who secured funding for 90 percent of her education costs, a first-generation college student working to become a clinical lab technician, a young entrepreneur and dean’s list honoree just beginning his freshman year at UC Berkeley, and a media studies major who overcame periods of homelessness to gain admission to one of the nation’s leading historically black colleges.
Students who receive the scholarship are provided with a $2,500 credit to their tuition account at school. The scholarship submission periods close quarterly—on September 30, December 31, March 31, and June 30. The current cycle will end on September 30, and a winner will be announced in mid-October.
Because it’s a rolling scholarship, students can apply anytime and even if they aren’t selected for one quarterly scholarship they can apply again and again. You can find out more about the OppU Achievers Scholarship here, and check out their online course for financial literacy here.