OICF/CASA of Oregon Partnership

Published on Apr 03 2009 in Press Release by

OICF and CASA of Oregon form partnership to offer MESA College Initiative to Oregon students with limited financial resources to attend one of Oregon’s ten leading independent colleges

As part of its continuing development in the area of diversity and to aid member colleges in increasing their representation and retention of underrepresented students, the Oregon Independent College Foundation has entered into a formal partnership with the Community and Shelter Assistance Corp. of Oregon (CASA of Oregon) to offer the Matched Educational Savings Accounts (MESA) College Initiative (www.mesaoregon.org) to students attending one of Oregon’s leading private colleges.

The MESA College Initiative serves Oregon’s students with limited financial resources (i.e. families whose household income is less than 200% of the poverty level) by promoting positive financial behavior and rewarding students for their active participation and savings. MESA matches participating students’ savings 5:1, up to $8,000 over thirty-six months, provided that the student meets his or her savings goals and fulfills the financial education and college planning requirements. Thus, MESA College Initiative is a natural link to the OICF’s services and is a valuable tool in increasing individual self-reliance.

Support for the match comes from OICF (private contributions) and CASA of Oregon (federal and state grants), both of which raise funds to support this program. In order to create an efficient model for delivery to students, CASA of Oregon is partnering with the OICF who will act as a clearinghouse for their member colleges accessing these funds.

A $100,000 matching grant from the Wal-Mart Foundation First Opportunity Partner Access and Success Grants administered by the Foundation for Independent Higher Education (FIHE) has awarded  OICF with the initial pool of private resources to launch the program. Beginning in 2009, the OICF and CASA of Oregon will enroll a cohort of thirty-three (33) students at OICF member colleges and universities in the matched education savings account program (MESA College Initiative). The partnership is designed to creatively address the funding gap of low-income students.

“CASA is a committed partner working with the OICF to provide access, opportunity and choice for low-income Oregonians, especially while targeting underserved populations, i.e., students of color, first generation students and non-native English speakers by leveraging support and resources from the private sector,” said Thomas Jensen, Program Director – Asset Development of CASA of Oregon.

“Our partnership with OICF provides important additional private support for the program and more importantly participating students.  MESA is about more than receiving match money—the training requirements provide the skills needed to acquire and maintain an asset (education), as well as connect it to a personal development plan.  We believe that the partnership between the OICF and CASA will result in an effective outcome-driven program that builds human capital and fosters long-term goal-setting.”

OICF and CASA seek to create access to post-secondary education for low-income Oregonians through incorporation of IDAs into the service stream of Oregon’s leading independent colleges and universities. In order to achieve this goal, CASA & OICF uphold the following objectives:

  • Increase the number of low-income students enrolling into post-secondary study at one of Oregon’s leading independent colleges and universities;
  • Increase the number of participating students graduating with the skills to immediately impact the region’s workforce:
  • Decrease the amount of debt with which a student will graduate;
  • Encourage and model positive financial practices for students.

“Partnering with area community service organizations and funding partners to offer a creative financial aid program to promising young people is a tremendous opportunity for us,” said Robert Maloney, Shareholder, Lane Powell, P.C., and Chair of OICF’s Board of Trustees. “At OICF colleges and universities, professors are accessible and leadership opportunities abound.  We know the small campus experience can be life changing for all young people.”

“Incorporating the MESA College Initiative into OICF’s cadre of resources provides an opportunity to build our member institutions’ capacity and leverage private donations against public resources. said Kevin Matheny, President/CEO of the Oregon Independent College Foundation.  “This will advance OICF’s goal to ensure that all young people have equal opportunity to access a quality and personalized education experience (average faculty to student ratio of 12:1) at one of Oregon’s leading independent colleges and graduate with the skills to immediately impact the region’s workforce needs.”

Contacts:
Kevin Matheny
President/CEO
503-496-3420
kevin@oicf.org

Thomas Jensen
Program Director – Asset Development
CASA of Oregon
tjensen@casaoforegon.org