The rising price for a college education means many students lack the financial resources needed to cover basic needs. For these students, any unexpected cost could determine if a student gets to remain at the University. However, assistance with buying a tank of gas or a plane ticket home is sometimes all a student needs to overcome or prevent an unexpected financial shock. Addressing these challenges and helping students overcome small financial barriers demonstrates a commitment to retaining students at KU.
Student Senate hopes to help alleviate this problem by developing a fund we are calling the Rock Chalk Remain Fund, designed to offer small financial grants to students who need emergency assistance. The Rock Chalk Remain Fund will provide any currently enrolled student with temporary, short-term, financial support when they need assistance with expenses due to an emergency such as an illness or accident.
The Fund is not intended to provide ongoing relief for recurring expenses, yet the financial assistance is not a loan and does not need to be repaid. There will be a financial literacy element through Student Money Management Services to receive the Funds. Unsurprisingly, funds like this are popping up across the nation, and studies have shown they can help increase retention rates.
Examples of typical uses will include:
- Medication/prescription expenses
- Overdue rent/utilities
- Travel costs related to death or illness of family
- Replacement of belongings lost in a fire or natural disaster
- Safety needs (i.e. changing of locks)
Examples of expenses not covered:
- Health insurance
Please support and help KU Student Senate launch an emergency fund for students facing financial emergencies.