Young & Free Michigan Helps Students Pay For College

DETROIT (WWJ) - It's no secret that the cost of going to college has risen dramatically in recent years. So how much has it gone up? According to a Bloomberg Report, college tuition and fees have skyrocketed more than 1,120 percent since 1978.

To help students afford those rising costs, Michigan First Credit Union is once again sponsoring the Young & Free Michigan Scholarship Competition, with a total of $85,000 in scholarships available to high school and college students between the ages of 17 and 25. The top three winners will receive scholarships of $3,000, $5,000 and $10,000.

Vicky Goldwater,21, of Clinton Township is "Spokester" for Young And Free Michigan.

"It's my job to write weekly blogs and make weekly videos all on Young & Free Michigan.com," said Goldwater. "I also get to go to community events and help promote being money smart. So we're currently having a scholarship competition that we have every year. And we're giving out up to $85,000 in scholarship money."

Goldwater says students can write an essay or produce a short video to win the scholarship money. "And all they have to do is answer a question: 'What event or person other than your parents has made the most significant impact on your life, and how has it changed you and how will you use it in the future.' And all they have to do is put the video up on You Tube and then submit the entry onto Young & Free Michigan.com."

What advice does Goldwater have for young people thinking about entering the scholarship competition? "It's fun. It's a good chance to express yourself. It's not just an essay. It's also a video. I know our generation is really savvy with videos and being online. So it's worth taking advantage of and I wish everyone good luck."

The entry deadline is February 13. And then family members and friends can vote for their favorite videos online from February 13 o Feb. 19th.