EDCOR NEWSLETTER
Scholarship: a strategic tool in your Education Benefit Portfolio
The cost of education is a major financial burden on many families. On one hand, the wage gap between degree and non-degree holders is widening and on the other, the cost of education is rising. The college tuition inflation data indicates that the cost of tuition at public 4-year institutions increased 36.7% from 2010 to 2023. About 90% of mid-size and large-size employers offer Tuition Assistance or Reimbursement as a benefit, yet 87% of CEO are reporting skill gaps and a high need for upskilling in their workforces. This indicates that there needs to be something supplementing your Tuition benefits.
The answer is Scholarships.
The data on typical yearly educational funding shows that parental contributions cover around 40% of college costs; a close second is scholarships and grants pegged at 25%. Close to 2 million scholarships are awarded each year; the U.S. Department of Education alone awards 46 billion dollars in scholarships and private sources award close to 8 billion dollars in scholarships annually. Almost none go unclaimed. Such is the impact of scholarships!
Scholarships help reduce the ticket price of a degree thereby offsetting the cost of education for millions of school-goers who apply for scholarships each year through federal, academic, or private organizations.
A successful scholarship program is complex, work-intensive, and needs to be managed in meticulous detail. By choosing Edcor, you can avoid all the hassle and get even better results from these programs. We believe that one size never fits all and customize the scholarship administration experience based on your unique needs.
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CEO’S CORNER
One of the many highlights of 2024 has been the recognition we’ve received for the work we’re so passionate about. Being honored with the BenefitsPRO 2024 Luminaries Award was truly special. It’s not just an award; it’s a celebration of how we’re transforming the benefits industry and staying true to our mission to make it more human and connected. Adding to the gusto was the CX Leaders Awards 2024, where we were named a finalist in the “Team of the Year” category. This recognition for our customer experience team speaks volumes about the kind of people we have at Edcor—dedicated, empathetic, and always ready to go the extra mile for our Clients and their employees.
Here’s to a holiday season filled with joy and a new year full of possibilities. Let’s continue to dream big, push boundaries, and make a difference—together.
Think Edcor. Think Possible!
Adrienne L. Way, Edcor Owner, President, and CEO
INDUSTRY ARTICLES
Read these articles to see how Edcor partner schools are leading the way in higher education with innovative programs and ideas.
ARTICLES OF INTEREST
Gain information and insight from Edcor’s partner schools in these articles:
SCHOOL NETWORK UPDATES
Edcor partner schools respond to the needs of client employees with new course offerings and programs. Read about the steps these schools are taking to serve their students.
- Explore UMass Global’s Career Pathway: Healthcare Administrator
- ACHS Launches ACE Initiative: AI for Community Engagement
- Peirce College offers an attractive Graduate Tuition Discount
- Save on Tuition with a Degree from Excelsior University
- Unlock your leadership potential with a degree or certificate from CLU
- Take SNHU’s Virtual Degree Tour
- Explore the on-demand webinars available through Penn State World Campus
- Start Your Comeback Online at Purdue Global School of Nursing
- Apply to Elizabethtown College by Dec. 31 to receive 20% off your first spring course
