WOODBURY, Minn.– Ideal Credit Union member Jared Kula, a mechanical engineering student at the University of Wisconsin-Stout, has won a $1,000 scholarship from the Minnesota Credit Union Foundation Scholarship Council (FSC).
A total of $12,000 was recently awarded to 10 credit union members in Minnesota. Scholarships were given out to students in two categories: Traditional and Non-Traditional. Ideal Credit Union has been a long-time supporter of the FSC Scholarship program.
More than 800 students from credit unions throughout the state applied for scholarships. Applicants were selected based on their essays submitted to the FSC. This year’s essay question was: What is your plan to afford the costs of higher education based on your anticipated degree and future career income?
In his essay, Kula wrote about researching colleges and weighing expenses, with a goal to graduate debt-free. He chose the most affordable, UW-Stout. “However, at $17,000 a year for four years I would still owe about $68,000. We then estimated that after my $4,000 of total scholarships, my parent’s $8,000 contribution, my $3,000 worth of college credits from high school, and my $28,000 of saved money, I would still need approximately $25,000 by May of 2023. I am still working diligently to meet this goal. I am optimistic that as a mechanical engineer my entry-level job salary in my home state of Minnesota will approximately be $55,000 annually. With that, I anticipate little difficulty paying off student loans within five years.”
“We are extremely proud of Jared’s accomplishments and for receiving an FSC scholarship for his outstanding essay and impressive goals. We wish him all the best in his future endeavors,” said Ideal CU President/CEO Brian Sherrick.
Kula has been an Ideal CU member since 2002, when his parents opened a Bucky Bear youth account for him while he was still an infant.