Make Debt-free Possible!

Scaling Up: Maximizing Student Financial Wellness
Inside Higher Ed, September 2024

Global Research Powerhouse Teams Up With McPherson College To Expand Impact Of Student Debt Project
McPherson College, December 2022

RTI White Paper – Executive Summary
RTI International, May 2023

McPherson College reimagines its campus for the future
USA Today, September 2022

President Schneider explains the Student Debt Project
Facebook, March 2021

• Total students participating in 2024-25: 565
• Mentors: 45 working/retired professionals & 24 peer mentors
• Class of ’24 debt project graduating seniors with $0 debt: 44
• Total debt project student $.25 match earned in 2023-24: $331,450
• Total debt project student payments in 2023-24: $4.13 million
• Average debt project student amount of reduced debt: $11,700

From current Debt Project students:

Raina Decker, McPherson area freshman

Raina’s interest in the McPherson College Student Debt Project was sparked by the program’s ability to develop her into a financially responsible adult far past her college experience.

“This program doesn’t end at providing funds for educational expenses; it provides students with the knowledge, connections, and resources necessary to live a lifetime of financial freedom.”

She said, while navigating the college decision process, there were some schools with various programs to assist students with the financial burden of post-secondary school; however, no other program compared to McPherson College’s Student Debt Project. The significant match value, the resources associated with the program, and the multitude of benefits surpassing financial freedom made McPherson’s program stand far above any others.

Because her family was unable to assist her financially, college debt was a significant concern for Raina.

“Without the financial assistance from McPherson College’s Debt Project I would be unable to afford college. This program allows me to prioritize my education during the academic year, and to continue life post-graduation free from financial constraints.”

“My main financial goal is graduating 100% debt and loan free. With the help of scholarships, financial aid, and the Student Debt Project this major goal is realistic.”

Luke Wood, freshman from Shawnee, Kan.

Before landing at McPherson, Luke toured and researched other school in and around Kansas, but never found another program that did as much as the Student Debt Project.

“I was excited about it because it seemed like a great way to afford college in today’s economy,” he said.

Luke used earnings from a summer job to set up a solid amount of savings for the school year and with the Student Debt Project may not need to work during the academic year.

“The program was straightforward and easily accessible, and there is a wonderful staff available to answer questions. After paying my first semester, I can say the Student Debt Project has already benefited me immensely.”

Student Debt Project Mentor group at the 2024 Fall kickoff event.

From current Debt Project Mentors:

Jasper ’24 & Lauren ’24 Fedders
Jasper: Owner of Fedders Fab & Resto
Lauren: 3rd grade school teacher in Salina

“Our experience as mentors has been great! It’s been a lot of fun getting to talk with our groups of students about theirs lives. Giving guidance to them is fun since we are fresh out of college ourselves.

We think the program really benefits the students and how they view school. Having the stress taken away of debt hanging over their head when they graduate makes students want to go to college. Money is a stressful thing so having this program and being apart of it makes students lives just that much easier. ”

Lionel Ibonga ’20
Pursuing further education at Wichita State University while working as a financial advisor.

“As a former student counselor and now an SDP mentor, I’ve really enjoyed guiding students in the Debt-Free Project. Each month, I meet with them to provide advice on saving money, creating budgets, and balancing the demands of college life with financial goals. I love seeing students take ownership of their education and make meaningful progress toward graduating debt-free.

The SDP has been a game-changer, not just for students’ finances but for their overall growth. It teaches responsibility, discipline, and forward-thinking. Seeing students graduate with little to no debt is incredibly rewarding—it means they can start their next chapter on solid financial ground. The 25-cent boost for every dollar they earn is a great motivator, and I believe it really drives students to stay focused and work hard. It’s a privilege to be part of something so impactful.”

​Jamie Fuqua ’07
Assistant Professor of Health Science
Department of Health and Sports Studies

“I am serving in my 3rd year of being a student debt project mentor.  It is important to me that I get to be a part of sharing financial literacy information with the students that can positively impact their future.  Also, experiencing student loan debt myself, helping students reach the goal of graduating college without debt is a great opportunity.

Allowing students to have the opportunity to graduate college without debt is such a fantastic gift.  The next phase of life after graduation has plenty of challenges and not having to navigate that while also figuring out how to pay for school loans can make a positive impact.  Additionally, the information regarding multiple concepts regarding financial literacy gives them foundational knowledge to build from as the move on to a new chapter.”