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Financial faith in college graduates

Questa retention program receives $120,000 boost

– A local non-profit group Wednesday announced a $120,000 contribution to its efforts to keep top graduates in northeast Indiana.

The Questa Foundation, which aims to expand educational opportunities for local students, will put the money toward a loan forgiveness program for qualified students pursuing studies in advanced manufacturing, computer science, engineering, information technology and informatics.

The money was donated by Dr. John Crawford, a local radiation oncologist and former city councilman, along with the city and the Allen County commissioners.

Questa scholars are eligible to borrow $20,000 over four years for college and receive up to 50 percent forgiveness of the loan balance if they graduate college with a 2.75 cumulative GPA and elect to live and work in Adams, Allen, DeKalb, Huntington, Kosciusko, LaGrange, Noble, Steuben, Wabash, Wells or Whitley county for at least five years after college.

Questa students who attend Huntington University, Manchester College, University of Saint Francis, Indiana Tech or Trine University might have an additional 25 percent of their Questa loan repaid by their school.

Of the money donated Wednesday, $20,000 came from Crawford, and $100,000 came from the Brain Gain Grant Program – another Questa initiative that will now dissolve.

Crawford, the city and the county had been contributing to the program for several years.

“These funds will aid Questa’s efforts to train and retain Allen County’s best and brightest right here in northeast Indiana in professions that are high in demand across our region,” Questa Executive Director Christina K. Smith said at an afternoon news conference.

The ½ Back Loan Program was founded in 2007 and has since accepted 209 students. Questa originally committed $4 million to the project, $3.8 million of which has already been committed or spent. Smith said the group will need to raise $1 million a year to keep the program afloat.

According to Questa, the group’s loan program is the nation’s only college debt forgiveness program focused on academic performance and regional graduate retention.

dhaynie@jg.net