Rutgers Offers $1,800 Scholarships to Help Students Finish College in Four Years

A new pilot program at Rutgers Business School gives select students $1,800, letting them work less and study more. Ten students were chosen for this chance to finish their degrees in four years, a big deal since only half of the students hit this mark now.

The On-Time Graduation Initiative targets students putting in over 20 hours at jobs while studying. "We created the On-Time Graduation Initiative as a way of providing well-performing students with some relief from the burden of working one or two jobs while they're trying to finish college and prepare for a career," said Lei Lei, dean of Rutgers Business School, to Yahoo Finance.

Staff spotted the need after watching students struggle. In his business forum class, Associate Dean Luke Greeley saw how long work hours hurt students' grades and class work.

This isn't just a Rutgers problem. U.S. Department of Education data shows similar patterns at other state schools. Places like the University of Maryland, University of Texas-San Antonio, and Temple University see just four in ten students finish in four years.

The money made a big difference for David Ruiz, who works 24 hours weekly as a concierge. "If it weren't for this scholarship, I probably would have had to drop out so I could work more," he told PR Newswire.

Thanks to the funds, Brittany Rodriguez cut back on her packed schedule. She used to split time between five classes, a dentist's office job, and tutoring. Now, she gets a full day for studying and team projects.

Support comes from past students and business friends. Frank Palumbo, who retired from Cisco, backed the program. His own memories of classmates working nights before morning classes pushed him to help.

Keith Banks stepped up, too. The former Bank of America vice chair jumped in after learning students took six years to graduate due to heavy work schedules.

The school plans bigger things this fall. More students at Rutgers Business School-New Brunswick will get a shot at help. After checking how well this first try worked, they'll decide about making it permanent.