Grand Canyon University (GCU) in Phoenix received a grant from Charles Schwab to create a new finance learning center focused on providing a workforce pipeline for the Registered Investment Advisor industry. 

The school鈥檚 Colangelo College of Business (CCOB) will use the multi-year grant to create the Charles Schwab Foundation Learning Center and expand the college鈥檚 financial planning degree programs. This grant will also provide academically qualified students with scholarship funding. 

鈥淔inancial literacy is crucial to learn at all ages and to help in the responsible management to impact a family鈥檚 generations,鈥� said CCOB Dean Dr. Randy Gibb, who added that the center will be made available to employees and the community as well.

The center is being created with a grant from , in partnership with the . 

Hub for classes, clubs and certifications to open in fall 

The center is set to open for the fall 2021 semester and will be built in the business school鈥檚 existing 150,000-square-foot college of business. It will create a home for finance classes and finance clubs, provide a destination for guest speakers on investing and financial literacy, and help address the critical need for more certified financial planners, school officials said. 

It also will be the site of students鈥� preparation for the Security Industry Essentials (SIE) exam, a relatively new requirement for financial services professionals that has been part of the CCOB curriculum for two years

The industry topics supported in the degree program are introduction to investments, portfolio management, financial risk management and insurance, real estate, taxation, property/casualty, and health/life insurance in addition to the core business foundation.  

High paying field expanding along with aging population

As America ages and life expectancies rise, the demand for financial planning services is expected to increase. The median annual wage for personal financial advisors was about $87,850, or $42.24 per hour, in 2019, according to the U.S. Bureau of Labor Statistics.

Covid-19 has highlighted the need for Americans to do a better job of managing their finances, said Mark Jacobson, finance chair for the CCOB and an accounting and finance instructor

鈥淭he pandemic showed that many people struggle with money and money management,鈥� Jacobson said. 鈥淎 couple of months into it, people who had lost jobs couldn鈥檛 pay their rent or feed their families. They had no savings.

鈥淭here鈥檚 been a big push by firms, large and small, in the wealth-management world to add certified financial planners. Schwab, as an industry leader, has a vested interest in growing the number of CFPs.鈥�

Reaching out to students from all backgrounds

CCOB has been working with Charles Schwab since 2018 when the multinational financial services company partnered with GCU to help students prepare for the SIE Exam.  

Bernie Clark, executive vice president and the head of Schwab Advisor Services, said a goal of the grant and the partnership will be to further the university鈥檚 goal of expanding opportunities for students from all backgrounds. 

鈥淲e are excited to expand on our work with Grand Canyon University and help more young people of all backgrounds prepare for careers in the independent advisory profession,鈥� Clark said. 鈥淲e believe this career path offers so much opportunity for growth and success.鈥�

The business college鈥檚 namesake, Jerry Colangelo, said the collaboration will heighten the university鈥檚 standing in the field.  

鈥淔or our business school to collaborate with such a highly respected company really brings credit to the quality of students we are graduating into the workforce,鈥� Colangelo said. 

About Grand Canyon University Grand Canyon University is a private Christian university that was founded in 1949. It is regionally accredited by the and offers more than 270 academic programs, emphases and certificates for both traditional undergraduate and graduate students and working professionals. For more information, visit: .

About Schwab Advisor Services Schwab Advisor Services is a leading custodian for independent registered investment advisors. For more than 30 years, it has been dedicated to helping advisors achieve their business goals, supporting firms of all types and sizes. For more information, visit: 

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Amid the many things that have changed during Grand Canyon University’s (GCU) remarkable transformation of the past decade, one thing has not: the cost of tuition.

For the 13th year in a row, the private Christian in west Phoenix is freezing tuition. Meanwhile, student enrollment numbers are clocking in at the highest ever in its 71-year history. 

Competitive pricing and a large bucket of scholarship dollars are largely responsible, university officials said.  

In turn, the affordability factor is driving diversity higher on campus, said the university鈥檚 visionary leader, Brian Mueller. 

鈥淲e have a number of different initiatives that address diversity both on our campus and in our community, but the single biggest differentiator has been our ability to make private Christian education affordable to all socioeconomic classes of Americans,鈥� said Mueller, president and CEO. 

Today, 46 percent of enrollment are students of color, including 28 percent Latino and 6 percent Black. 

Private college education at public university prices 

While tuition will remain at $16,500 for the 2021-22 academic year, more than 90 percent of GCU students qualified for institutional scholarships, thereby cutting that figure by almost half. 

Nearly $160 million in scholarships were awarded this year. That pushed the average cost of tuition to approximately $8,900, school officials said.  

Meanwhile, the average cost for tuition and fees at four-year private institutions has risen 32 percent to $37,650 since 2008-09, according to the College Board鈥檚 The average cost for four-year public colleges rose 40 percent during that time to $10,560. 

GCU also is competitive when it comes to room and board. The average cost of room and board at a four-year public college rose to $11,620 in 2020-21 and to $13,120 at a four-year private institution.

GCU鈥檚 average room and board cost is just $8,128 with nearly all of the residence halls built in the past 10 years. Roughly half offer single-occupancy, apartment-style living.

Grads walking away with less debt 

As a result of the tuition freezes and scholarships, grads are also incurring less debt — an average of $20,168, according to 2016-18 data from the U.S. Department of Education鈥檚 .  

The national average at public and private nonprofit colleges is $28,950, according to 2019 data from the nonprofit .

Success tied to rising enrollment, spin-off businesses 

The university鈥檚 success and ability to keep tuition stable year after year has paid off. 

In 2008-09, on-campus enrollment was about 1,000 students. Today, GCU is a hybrid campus with 23,000 ground campus students and more than 90,000 online students, school officials said. This year brought the largest freshman class ever with about 8,200 students. Online enrollment grew 7.5 percent.

University coffers also are benefiting from 10 spin-off businesses the school has developed on and near campus including the GCU Hotel, golf course, restaurants and Canyon Promotions. 

Huge investment in technology and infrastructure 

Luck has played a part in the school鈥檚 success as well. Prior to the pandemic, the university had invested $250 million in technology during the past decade. While other schools struggled to adapt, GCU鈥檚 transition to online learning was fairly seamless, school officials said. 

The university has also invested in new residence halls, campus buildings, and other infrastructure. Private development surrounding the campus has also flourished.

鈥淲e feel very blessed that we have been able to invest nearly $1.5 billion into our campus infrastructure in the last 12 years to keep up with the growth of the university,鈥� President and CEO Mueller said. 鈥淲e have been able to do that by using our cash reserves without passing those costs on to students through increases in tuition.鈥�

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Bob and Renee Parsons have donated a $500,000, five-year grant to Grand Canyon University (GCU) for scholarships for nearby inner city high school seniors who have high GPAs and high aspirations. 

The grant will fund full-tuition scholarships for 鈥淧arsons Scholars,鈥� high school seniors who maintain a minimum 3.5 grade point average and demonstrate financial need. The grant from the Bob & Renee Parsons Foundation is the largest single gift in the history of the Students Inspiring Students (SIS) scholarship program, school officials said. 

Bob Parsons, best known as the software technology wizard who founded GoDaddy, said he鈥檚 proud to support youth of limited means who 鈥渁re willing to put in the hard work and earn a college degree.鈥�

His partner in giving and life, Renee, said the scholarships will provide motivated students in underserved communities near the campus with tools they need not only to get a college degree but to excel in life.

鈥淭hese programs are bringing hope and empowering students to follow their dreams,鈥� she said. 

Students Inspiring Students targets nearby neighborhoods 

The $500,000, five-year grant from the will provide scholarships for high-performing but underserved students in the neighborhoods surrounding the university at 33rd Avenue and Camelback Road in the heart of west-central Phoenix.  

More than 90 percent of the SIS recipients are students of color, reflecting the demographics of the nearby communities. 

As part of the program, scholarship recipients must complete 100 or more hours of tasks  including college prep activities and tutoring other local K-12 students one-on-one in GCU鈥檚 Learning Lounge. The Learning Lounge provides free tutoring to any student who requests it. 

In the last six years, more than 4,500 students from 150 neighboring schools have taken advantage of this service, making nearly 60,000 visits to the Learning Lounge for 140,000 extra hours of study. 

Public-private partnership lifting up education in central-west Phoenix 

The annual SIS scholarship program is a public-private partnership in which the university, local businesses, donors, K-12 schools, and the scholarship program work to impact education in GCU鈥檚 diverse inner-city community. 

Bob and Renee Parsons鈥� involvement allows the university to get closer to the goal of having 800 students from the neighborhood involved in the SIS Scholarship Program every year, said University President Brian Mueller.

鈥淭hat full-tuition scholarship allows high-achieving students an opportunity for a college education regardless of their socioeconomic status, changing the trajectory of their family for generations to come,鈥� Mueller said.

Helping most needy regardless of who they are

The Bob & Renee Parsons Foundation was started by the couple in 2012 to offer support to nonprofit organizations successfully working to empower, educate, nurture and provide life-changing assistance to vulnerable populations and communities.

The Foundation鈥檚 giving is driven by the core belief that all people 鈥� regardless of race, religion, roots, economic status, sexual orientation or gender identity 鈥� deserve access to quality healthcare, education and a safe place to call home. 

To read more about the foundation and its work, visit:

About Grand Canyon University:

, is a private Christian university founded in 1949, that is accredited by the Higher Learning Commission and offers more than 270 academic programs, emphases and certificates for both traditional undergraduate students and working professionals. The University鈥檚 curriculum emphasizes interaction with classmates, both in-person and online, and individual attention from instructors while fusing academic rigor with Christian values to help students find their purpose and become skilled, caring professionals.

For more information, visit .

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In its latest move to make college more accessible for Valley students, Grand Canyon University surprised local high school students Wednesday with scholarships to cover the full cost of their tuition.

The private Christian university also announced recently it would be yet again freezing the cost of tuition to reduce the impact of student loan debt.

The Students Inspiring Students (SIS) scholarship, which is in its fifth year, was created in collaboration among GCU, local high schools and philanthropic business leaders to bring better education access to the community.

GCU held a surprise event Wednesday night at the GCU Student Union to award 16 high school students with full-tuition scholarships.

Each year, the university awards full-tuition scholarships to students from inner-city high schools who meet academic criteria, have financial need and received 100 or more hours of academic assistance at GCU鈥檚 Learning Lounge, a free after-school tutoring and mentoring program designed to improve skills and confidence among K-12 students, ultimately boosting achievement.

鈥淭his scholarship program is in its fifth year at the university and it works,鈥� said Dr. Joe Veres, vice president of student success at GCU, in . 鈥淚t is rewarding to see these students spend time at the Learning Lounge, get awarded the scholarship and thrive on campus. They are bright, remarkable young men and women who just need a financial boost in order to go to college.鈥�

More than 200 West Phoenix students have received the SIS scholarship so far, and the program hopes to 鈥渃ontinuously transform K-12 education and offer 800 full-tuition scholarships,鈥� according to GCU鈥檚 .

SIS scholarship winners will pay forward their award by providing 100 hours per year of mentoring and academic support at a Learning Lounge site to assist high school students who also want a chance to attend college.

Future plans for SIS include:

• Expanding the scholarship program,
• establishing more K-12 Learning Lounge locations,
• promoting SIS as a model on a national level and
• graduating ambitious students who are ready to join the workforce as leaders.

Earlier this month, GCU announced it would be freezing tuition costs for the 12^th consecutive year.

The average annual cost to attend a four-year public college rose 2.3 percent to $10,440 in the 2019-2020 academic year, and tuition and fees at four-year private institutions increased by 3.4 percent to $36,880 in the same time period, according to College Board鈥檚 鈥淭rends in College Pricing鈥� report.

GCU said it would cap on-campus tuition at $16,500 for the 2020-2021 school year.

But GCU is a scholarship powerhouse 鈥� more than 90 percent of its students receive institutional scholarships 鈥� bringing the average tuition cost down to $8,700. That鈥檚 similar to public universities and less than many private universities, according to GCU.

鈥淕CU鈥檚 goal is to make college education affordable to all socioeconomic classes of Americans, and we have taken a very innovative approach to make that happen,鈥� said GCU President Brian Mueller.

The university鈥檚 dedication to providing affordable higher education means GCU students acquire less debt than students who graduate with student loans from public, private-nonprofit and for-profit colleges; those students leave college with an average of $26,900, $31,450 and $39,900, respectively, in student loan debt, according to a by the Institute for College Access and Success.

Mueller said tuition freezes have resulted in a high-quality, diverse student body, with 47 percent of students identifying as people of color.

GCU also announced that over the past 10 years it has invested more than $1 billion into new academic programs, technologies, classrooms, laboratories, research spaces, residence halls and other student amenities. Mueller said the school plans to spend an additional $500 million over the next five years.

Investments at GCU include:

• 22 suite- and apartment-style residence halls;
• more than 1 million square feet of classroom, laboratory, library and office space;
• a new 136,000-square-foot Canyon Activity Center;
• an innovation center with workspace for startups, an incubator, co-working space and more, which currently houses 27 companies;
• the launch of 10 new business enterprises that employ more than 400 people; and
• the approval of 42 new academic programs in the past year, bringing the total to more than 270 academic degrees, emphases and certificates offered in nine different colleges.

Header photo courtesy of Grand Canyon University.

***An earlier version of this story, as well as the description in聽the Dry Heat email, incorrectly stated the scholarship event took place at GCU Ballpark, and that 25 students received full-tuition scholarships; those details have been corrected in the current version.

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Grand Canyon University has been recognized as a National Center of Academic Excellence in Cyber Defense (CAE-CD).

The private university was designated as a CAE-CD by the National Security Agency (NSA) and the Department of Homeland Security (DHS) for working to reduce vulnerability in National Information Infrastructure through higher education.

鈥淥ftentimes, the government sector will recruit from schools that have this designation because they know they have been vetted by the NSA and DHS as an approved program,鈥� Grand Canyon University (GCU) Associate Dean of the College of Science, Engineering and Technology Heather Monthie said. 鈥淭his opens up opportunities within the government sector, like the Department of Defense, NSA, DHS and organizations like the CIA to our students.鈥�

There are currently more cybersecurity jobs available than people to fill them, according to the White House鈥檚 National Cyber Strategy. GCU is working to combat that through multiple online and on-campus programs.

The programs that help produce qualified cyber defense individuals include the school鈥檚 CAE-CD designated Bachelor of Science in Information Technology with an emphasis in Cybersecurity and its state-of-the-art Cyber Center of Excellence, which gives students and the public a hands-on learning opportunity.

鈥淭his is a big deal. This is essentially the NSA and DHS鈥檚 stamp of approval on our cybersecurity program,鈥� Monthie added. 鈥淭hey approve of everything that鈥檚 in our program and the fact that we have cybersecurity integrated into other programs.鈥�

GCU has also started hosting virtual career fairs for students who attend a school that has a CAE-CD designation. The fair will include employers such as the NSA, IBM, Air Force Civilian Service and the National Institute of Standards and Technology.

Photo by GrandCanyonU via Wikimedia Commons.

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Grand Canyon University hosted its inaugural Colangelo Servant Leadership Awards breakfast Tuesday, in partnership with Freeport-McMoRan, honoring four community members for outstanding service, leadership and entrepreneurism.

Named after Jerry Colangelo, a prominent businessman and philanthropist in the state, the awards celebrated the ideals that Colangelo has practiced throughout his career. As the owner of the and, Colangelo helped build two of the state鈥檚 most popular franchises to a combined valuation of almost $2.8 billion.聽

鈥淲e want to highlight business and elevate humanity through servant leadership, which is the most important tenet of the four tenets of conscious capitalism,鈥� said Randy Gibb, dean of GCU鈥檚 Colangelo College of Business. 鈥淢r. Colangelo embodies what it means to be a servant leader: service before self, humility, stewardship, and love and care for your team. And our four recipients today also embody all those traits.鈥�

GCU President Brian Mueller emphasized the importance of highlighting the countless Arizona residents that create new jobs and opportunities. He said awards like this help recognize exceptional leaders and their daily efforts to improve Arizona and provide 鈥渘ew prosperity.鈥�

These are the 2019 Colangelo Servant Leadership Award recipients:

• David Kimmerle, CEO of Sanderson Ford car dealership
• Linda Little, president of iHeartMedia Phoenix
• Mike Ingram, founder of land and development business El Dorado Holdings, Inc.
• Sandra Watson, president and CEO of the Arizona Commerce Authority

鈥淭o me, that [award] is at my core in terms of who I am,鈥� Little told 番茄社区 after the ceremony. 鈥淭hat means more than achieving huge financial success because it鈥檚 all about how you can serve others and lead. I鈥檝e always been a collaborator, I鈥檝e never been the kind of leader that gets in the front of the room and says, 鈥業t鈥檚 my way or the highway.鈥� I鈥檝e always been that person that says, 鈥楬ey, I have a good idea, but if you had a better one, let鈥檚 do that.鈥� I love one-on-one coaching; I love understanding what somebody wants to do.鈥�

Watson explained that leadership is about the effort of many to advance a common goal. She cited state leaders in their efforts to grow Arizona鈥檚 economy, including Gov. Doug Ducey, GCU鈥檚 Mueller and Watson鈥檚 own team at the Arizona Commerce Authority.

鈥淪ervant leadership is about the efforts of many to advance a common goal,鈥� Watson said. 鈥淚n addition to Jerry, I鈥檝e had the great privilege of working with so many servant leaders to make Arizona the best place to live and do business鈥� job creation, salaries and capital investment are on the rise, and we continue to advance our state鈥檚 competitive global position.鈥�

Mueller also highlighted the importance of a free market system in Arizona, including its role in shaping GCU and its surrounding neighborhood. Because of public markets and their willingness to invest, he noted, GCU has created over 11,000 jobs, both on campus and through new businesses. Additionally, home values in the neighborhood have jumped by roughly 302 percent in the past five years.聽

鈥淭he economy鈥檚 on fire 鈥� the things that Gov. Ducey has done, the Arizona Commerce Authority, with their leadership,鈥� Mueller told 番茄社区 after the ceremony. 鈥淏ut we have trouble getting the news out, so this was one attempt to say, 鈥楲et鈥檚 talk about the great things that are happening; let鈥檚 talk about the great people that are making those things happen, and let鈥檚 put Arizona out as one of the best places to live鈥� 鈥� because it is! 鈥� and not just because of our weather, but because of what鈥檚 going on in the state.鈥�

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