Keystone College is pleased to announce a historic new initiative with Wyoming County which will benefit the college and county residents.
The proposal, enacted by Wyoming County Commissioners during its August meeting, enables Keystone to strengthen its financial position and then reinvest savings from that restructuring in tuition savings for county residents.
The joint agreement between the county and the college is the first of its kind in Northeastern Pennsylvania and one of the few in the entire nation. By guaranteeing the college’s bank notes, the county enables Keystone to strengthen its long-term financial position and, in return, Keystone helps to reduce the cost of a college education for Wyoming County residents.
“We are very grateful to Wyoming County for its visionary, entrepreneurial, and collaborative approach to this joint initiative,” said Keystone College President Tracy L. Brundage, Ph.D. “At Keystone, our mission is to transform lives by making education more accessible and affordable and we are pleased to partner with Wyoming County as we continue to achieve this goal.”
Wyoming County Commissioner said the agreement enables both Wyoming County and Keystone to continue to move forward in a unique partnership which will have far-reaching and long-term benefits for Keystone and for our residents.
“At Keystone, our mission is to transform lives by making education more accessible and affordable and we are pleased to partner with Wyoming County as we continue to achieve this goal.”
President Tracy Brundage, Ph.D.
Specifically, the plan calls for Keystone to issue new bank notes totaling $8 million with the county guaranteeing the offering. As a result of the savings realized in Keystone’s annual debt service, the college will, in turn, discount tuition by 10 percent for any Wyoming County resident attending Keystone.
The reduction works out to be approximately $1,500 per-year per-person for a full-time student. The agreement also calls for Wyoming County to have representation on the college’s Board of Trustees.
Keystone plays a vital role in the economic life of Northeastern Pennsylvania, contributing an annual economic impact of approximately $13 million. Members of the Keystone community contribute 26,000 hours of community service each year, the majority of which occur in Lackawanna and Wyoming counties.
With the lowest tuition of any private college in Northeastern Pennsylvania, Keystone offers more than 40 undergraduate and graduate degree options in liberal arts and science-based programs in business, communications, education, natural science, environmental science, and social sciences. Located 15 minutes from Scranton, Pa. and two hours from New York City and Philadelphia, Keystone is known for small class sizes and individual attention focused on student success through internships, research, and community involvement.