Dow Chemical Co. launches $1 million project to help curb student debt MOUNT PLEASANT, Mich.

March 5, 2014 The Dow Chemical Co. has partnered with the Project on Student Debt in an effort to help college students better manage their student loan debt. Tracy Schmitz, public affairs director of Dow Chemical, spoke at a press conference today about its partnership with the Project on Student Debt, which is a national organization aimed at improving college access and success. "Our company has put forth $500,000 and the Project on Student Debt has matched $500,000,"Schmitz said. "This is $1 million project." The program will begin working with college freshmen this fall at Central Michigan University, Western Michigan University, Saginaw Valley State University, Ferris State University and Eastern Michigan University. The program will affect nearly 3,000 incoming freshmen at CMU. "The goal of the project is to decrease student debt. The average college student in Michigan leaves college with nearly $29,000 in student loan debt," Schmitz added. Dow Chemical CEO Harry Smith graduated from Harvard with nearly $48,000 in debt and is passionate about this program and the relief it will provide for students. The program is offering scholarships of $5,000-$15,000 for the freshmen at these universities and plans to work with students throughout their academic career. "We know we don't have a magic wand to erase debt completely, maybe $5,000 is easier to manage than $30,000," Smith said. The program offers free workshops for freshmen that will be held on the university's home campus. There will also be web access for students to access resources throughout their college career. "We want to maintain communication with these students and help provide them with information about their debt," Schmitz added. "Our goal is to get students to start thinking about their financial future early on. Media Contacts: Tracy Schmitz Dow Chemical Co. Public Affairs Director Tschmitz@dow.mi.com Jennifer Kuznia CMU Assistant Director of Public Relations Kuzni2jl@cmich.edu