VSCPA Communications Manager Chip Knighton writes about the VSCPA's You Can Afford College partnership with Virginia legislators.

1. Yes, Virginia students: You can afford college!
A VSCPA program is educating students around the state on their higher education payment
options.
By Chip Knighton
Last fall, the VSCPA took its You Can Afford College (YCAC) program on the road for the second year of
educating students and families about the options available to help them pay for higher education. Now
the elected officials who observed the program are looking for ways to spread the word.
Sarah Duncan Hinds, a member of the Portsmouth School Board, attended the YCAC workshop Oct. 17
at the Lucas Professional Center in Portsmouth. Hinds, who has a son on track to attend school in the
city, noted the preponderance of high school students in the audience and turned her thoughts to getting
CPA presenters in front of students and parents even earlier in the process.
“I was trying to figure out how we could get them into our schools to talk to our parents, maybe get some
more parent involvement and student involvement,” she said. “Not just in our high schools, but in our
middle schools, as they figure out what the next step is.”
The Portsmouth event was one of two held last fall, along with a presentation two days later at Richmond
Community High School. The CPA-led events were developed with support from a generous grant from
The Accountants Coalition, a group representing the Big Four accounting firms that works closely with
state CPA societies and the American Institute of CPAs (AICPA) on legislative and regulatory issues.
The grant program was aimed at strengthening CPA society relations with state legislators and showcase
the CPA brand. With that in mind, the VSCPA secured partnerships with Virginia legislators to launch the
event, working with Sens. Mamie Locke (D-Hampton), Louise Lucas (D-Portsmouth) and Donald
McEachin (D-Richmond) for workshops in Hampton, Portsmouth, Richmond and Surry.
Lucas, who hosted the events in Portsmouth and Surry, was so impressed that she stayed on board for
the second round of events, hosting the Oct. 17 event. Then-Del. Jennifer McClellan (D-Richmond), who
has since won a special election for McEachin’s former seat in the Virginia Senate, hosted the event at
Richmond Community.
“When I saw the students coming in, I knew that they were interested in what we had to offer,” Lucas
said. “It’s gratifying to me to see them come out and participate.”
While the initial workshops were aimed at economically disadvantaged areas, the goal was to develop a
presentation that would work for any audience and presenter. So the VSCPA is branching out to other
areas of the state for its next round of workshops, scheduled for March 22 in Fairfax and April 4 in
Roanoke, in partnership with Dels. Mark Keam (D-Fairfax) and Sam Rasoul (D-Roanoke). A third
workshop serving constituents of Del. Jackson Miller (R-Manassas) is also in the works — visit
vscpa.com/YouCanAffordCollege for further details.
Filling a need
The need for a college degree has never been more acute than in today’s job market, and the costs of
that degree are on the rise. The average annual cost for in-state tuition, fees, room and board at a four-
year, public institution has risen to $19,548 — and that doesn’t include books, supplies or transportation.
Sixty-one percent of undergraduate students graduate with student loan debt, and those graduates
borrowed an average of $26,900 to fund their education.
“This has been going up because the price of college has been going up,” said VSCPA member Phil
Umansky, CPA.

2. “The amount of debt after college was eye-opening,” said Ashley Whitlock, a senior at Meadowbrook High
School in Richmond, after one of the 2015 events.
To help combat that, VSCPA presenters offered several savings methods, loan and grant sources and
ways to bring down the cost of college. Event exhibitor Virginia 529 was highlighted, along with federal
financial aid and a diverse array of scholarships.
“Even if you think that you’re not eligible for federal financial aid, fill out the form anyway,” VSCPA
member Vivian Paige, CPA, said at the most recent Portsmouth workshop. “You may actually find that
there is something out there for you. So you always apply, and you apply as early as possible.”
“There are many, many different avenues and resources that are available, and there are many people
out here willing to help these students,” said VSCPA member Elsie Rose, CPA, “through the school
system, through outside organizations, so that college really is affordable.”
Paige is one of several VSCPA members who took the time to volunteer to present or answer questions.
(See the breakout box for a complete list of those who have helped.) Some of those who did present
offered instructive examples from their own personal experience, including James Young, CPA, who
presented at the Surry event in 2015 and talked about his sister, who paid her way through Rutgers
University through scholarships, grants and loans.
““For me, personally, education was a way to improve myself. I think that applies to a lot of people,
especially when you come from communities where there aren’t a lot of people who went to college,”
Young said. “Getting self-motivated to go to college makes a big difference.”
One major theme from every YCAC workshop has been the importance of beginning saving as early as
possible, whether through a 529 plan or other vehicle. That was echoed in Hinds’ comments about getting
the program in front of students and families as early as possible. By reaching families earlier, the
program can eliminate some of the fear and paralysis that comes with major financial outlays.
“Hit them as early as possible,” Hinds said. “Get them involved, get them interested, take some of the
stigma and the fear away from them.”
Some attendees internalized that message long before learning about the VSCPA program.
“I started when my oldest was in kindergarten,” said Norfolk resident Jenelle Williams, who attended the
Portsmouth event with her five children. “I come to a lot of different programs to see what I can add to the
portfolio I’ve already created.”
Williams’ oldest child, Jelanie, is a senior at Granby High School who is considering Howard University,
Virginia State University and Old Dominion University. That’s two in-state public schools and one
(prestigious) private school where tuition can exceed $40,000 a year.
But there’s an even more cost-effective option highlighted in the YCAC program: Community colleges.
Virginia’s 23 community colleges confer associate’s degrees that are designed to transfer to four-year
colleges, 20 of which have guaranteed admissions agreements with community colleges in Virginia alone.
Costs are set at $146.25 per credit hour for Virginia residents, although some community colleges charge
more tuition than others.
Portsmouth attendee Thomas Dzurenko followed a similar path to reduce his higher education costs.
Dzurenko, a graduate of Oscar Smith High School in Chesapeake, hopes to complete a shipbuilding
program and got several credits and finished some certification-related courses at Tidewater Community
College (TCC) during high school.
“He did two years at Chesapeake Technical Science in their welding program,” said his mother, Tricia
Wiegmann. “He’s already got some certification and base there. TCC Portsmouth has their welding
program for the shipyards. We just happened to come down here and the stars aligned.”

3. Dzurenko’s example is useful even outside the shipbuilding field — Advanced Placement and dual
enrollment classes allow Virginia high school students to rack up college credits before matriculating.
Whichever school Jelanie Williams chooses, she’ll enter as a sophomore due to the credits from the
International Baccalaureate program at Granby.
Not everyone is as prepared as the Williams family. Ty Mutlow, who attended the Portsmouth event with
his son, Jordan, is playing catch-up on college savings and plans to make use of a program designed for
situations like his.
“There’s a 529 program where you can continue to put into while they’re still in school,” he said. “I’m
going to use that to supplement until he finishes college.”
From the best prepared families to those playing catch-up, college tuition costs will affect nearly every
family in Virginia. A holistic, lifelong plan — starting with savings and encompassing scholarships, loans
and an eyes-open awareness of what college actually costs — is the best way to leave college with as
little debt as possible.
“College is expensive. The very best thing you can do is start saving as soon as possible,” Paige said.
“$50 a month from birth to 18 years gets you to about $20,000 in savings, assuming you earn 6 percent
during that time.
“It’s not just the parents’ responsibility to save for college. Part of the responsibility is with the child as
well. The very best thing you can try to do is involve them in the conversation. Make them understand
why it is that you’re being frugal with your money today, so you can put them through college later.”
[BOX]
Thanks to our member volunteers!
The following VSCPA members have given of their time to help us develop and present the You Can
Afford College program:
Wright Aloba, CPA
Billy Barber, CPA
Amy Bohrer, CPA
Melinda Coley, CPA
Clementine Cone, CPA
Ann Cooper, CPA
Nidia Cruz, CPA
Henry Davis, CPA
Lisa Germano, CPA
Nneka Green, CPA
Sasha Howard
Anna Hunter, CPA
Pavlina Novakova, CPA

4. Larry Pendleton, CPA
Melanie Randall, CPA
Elsie Rose, CPA
Brett Sinsabaugh, CPA
Melanie Tyler, CPA
Phil Umansky, CPA
James Young, CPA
Highlights…
 Now entering its third year, the VSCPA’s You Can Afford College (YCAC) program educates
students and families about the options available to help them pay for higher education.
 The VSCPA launched the program with partnerships with Virginia legislators and a generous
grant from The Accountants Coalition.
 Initial workshops were so successful that the VSCPA is branching out from Hampton Roads and
Richmond areas to other parts of Virginia.