AUSTIN, Texas–University Federal Credit Union hosted a panel interview with student recipients as it also presented college dorm baskets to first-generation students currently associated with one of three “pivotal community organizations” in Austin: Breakthrough Central Texas, Communities in School, and Con Mi MADRE.
“Navigating the first year of college can be difficult and expensive for anyone, particularly for first-generation college students,” UFCU said. “Having additional funds for food or miscellaneous expenses can be a gamechanger in college. That is why UFCU hosts its annual College Dorm Basket Drive.”
UFCU noted it has served the college-student population for nearly 90 years, and it understands how a college education supports into long-term financial security.
“UFCU wants to set all students up for success, and a part of that is focusing on what matters the most – their education. UFCU employees aim to relieve some financial burden by pulling together their time and treasure to create college dorm baskets full of supplies to meet a student’s everyday needs.”
Each basket is valued at $350 or more.
UFCU employees donated about $11,100 worth of dorm essentials, the CU said. UFCU also provides each of the three benefiting nonprofit with a $500 donations
Since 2019, UFCU employees have provided baskets of dorm essentials to 100+ students.
According to Education Data Initiative, in 2023, UFCu said, adding:
- The average student loan debt is more than $37,000 per student.
- The average cost in-state tuition with on-campus housing is more than $27,000 per year, per student.
- The average student borrower takes 20 years to pay off their student loan debt.
In addition, UFCU said research shows that first-generation college students are:
- More likely to work one or multiple jobs to help pay for school
- Less likely to receive needed information and resources to navigate complex bureaucracies of higher education.