A carpenter from Iowa gifted his hidden millions of dollars to college students who needed the money for tuition fees. Dale Schroeder decided to award this secret fortune to young people who wanted to pursue higher education. “Dale’s Kids” will forever be grateful to this selfish man who only wanted the best for everyone.
In 2019, economists found that student loan debt is at the highest it has ever been. Across all demographic groups, more than 44 million students owe $1.5 trillion in student loans. With these numbers, student debt is now the second highest consumer debt category, higher than both credit and auto debts. On average, each student owes $28,650, yet most find it difficult to immediately find a steady or high-paying job to pay off the loan.
Student debt has reached an all-time high of $1.4 trillion across America, or roughly one dollar for every Democratic presidential candidate. pic.twitter.com/3vHeSQJzIS— The Daily Show (@TheDailyShow) July 26, 2019
Schroeder worked at Des Moines for 67 years, and he never married or had kids. People who knew him described him as a simple guy who worked very hard. His lawyer, Steve Nielson, told the press that he wanted to set up a scholarship fund for students because he never had the opportunity to go to college. His dream was for young Iowans to get a chance to pursue higher education without financial stress. In total, Schroeder’s scholarship fund came up to almost $3 million.
Since his death in 2005, Schroeder has funded the education of 33 students. The kids never got the chance to meet their sponsor, so in honour of him, they call themselves “Dale’s Kids.” Thanks to his generosity, the students were able to get a chance to pursue their dreams. They were lucky enough to receive his blessing, and it’s unfortunate that they will never be able to express their gratitude to Schroeder in person.
"A central Iowa man changed lives through his frugality and generosity." https://t.co/PJtcNPAyxY— Des Moines Register (@DMRegister) July 20, 2019
Thanks to generous people like Schroeder, many young Americans are given the chance to follow their dreams free from financial stress. Until the system for education funding changes, many will rely on scholarships and loans to fund their investments into their future. Those who are lucky enough to become beneficiaries should recognize the privilege they were given. Hopefully, in the future, they will also sponsor the education of the youth if they are able to afford it.