KCTCS is seeking support for the following initiatives:
MOMENTUM SCHOLARSHIPS AND ENDOWMENT
The importance of an educated and trained workforce has never been greater in Kentucky. As companies think globally, it's imperative that Kentucky's workforce be the very best it can be to remain competitive and provide good jobs for its citizens. Occupations requiring only a high school diploma or equivalent or less than high school are expected to account for a smaller percentage of total employment in 2020 than they did in 2010, indicating a shift toward occupations requiring an increasing amount of education (Kentucky Occupational Outlook to 2020). As Kentucky’s workforce ages and retires, the potential labor pool is inadequate to replace them. This demographic trend combined with the other factors will require that we educate more of Kentucky’s young people and working age adults to compete in the global knowledge economy (KCTCS Plan for a Competitive Commonwealth 2008-2020).
To assist in providing the workforce needed for Kentucky to thrive, KCTCS is focusing its efforts in serving three distinct populations: high school students, incumbent working adults, and unemployed adults. The KCTCS 2010-2016 Transformation Business Plan focuses on transforming Kentucky, one student, one job at a time. KCTCS Transformation focuses on preparing students for high wage, high demand, and emerging careers not only to transform their lives in less time and less money, but also provide Kentucky business and industry with the highly educated and trained workforce they need to remain competitively globally.” To remain competitive, Kentucky MUST educate more of its populace.
A decade of state budget cuts in higher education, rising tuition, underfunded need-based financial aid, and stagnating incomes are combining to make college less affordable in Kentucky. Over the last ten years, Kentucky has shifted the primary responsibility of paying for postsecondary education away from the state in the form of appropriations to institutions and over to students in the form of tuition and fees. State need-based financial aid reaches only a portion of those who qualify and has received shrinking priority relative to programs and tax breaks that benefit students with higher incomes. Adult students, among whom higher education needs are substantial, receive limited support. These problems are compounded by trends in federal financial aid and stagnating wages for families. To address these challenges, Kentucky needs a new commitment to college affordability for all its citizens. Student debt is on the rise, and Kentucky's college students--particularly low-income and adult students--face significant challenges in paying for their college education. (The College Affordability Crunch in Kentucky, Jason Bailey, 2011).
To provide assistance to these students, KCTCS is embarking on a momentum scholarship initiative that is targeted to:
To reach Kentucky’s educational attainment goals, we must significantly increase college success among the groups that can accurately be called 21st century students, including working adults, low-income, first-generation students, and students of color. In Kentucky, the vast majority of these students attend KCTCS.
KCTCS FOUNDATION UNRESTRICTED
The KCTCS Foundation Unrestricted Fund provides general operating expenses for the foundation. This fund provides funds to cover audits, insurance for directors, printing, etc.
KCTCS PRESIDENT’S FUND
The President’s Fund provides some flexibility for the president to cover the expenses for which state resources are not available.