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(Colorado News Connection) Grants to help students overcome financial hurdles to complete degrees and certificates in science, technology, engineering, and math fields are now available through the Last Mile Education Fund.

Ruthe Farmer, founder and CEO of the fund, said society has invested roughly $477,000 by the time an average STEM student reaches his or her junior year.

She said helping them make it to the finish line is a win-win.

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"Because the best outcome for society is that person graduating, using that college degree and all their investment in time, to contribute," said Farmer. "If they don't graduate, and they're stuck with a bunch of debt and they'll never earn the amount of money they could have, we all lose."

Eight in ten students from low-income families don't complete their degrees - largely because of a lack of financial resources to weather life events, such as a broken-down car or unexpected medical expense.

Since its inception, the fund has awarded more than 8,000 cash grants, totaling nearly $9 million. Forty-two percent of grantees were Black, 20 percent Hispanic, and 53 percent women.

Farmer encourages students to fill out an application online at 'lastmile-ed.org.'

"We have a listing there of all of the types of grants that we offer," said Farmer. "But it's not up to the student to have to figure all of that out. Just tell us who you are, complete the application, and we're going to find every dollar that we have available that matches with you."

STEM graduates earn on average $43,000 more per year than non-graduates, and more than twice as much as non-graduates over their lifetime.

Farmer said investing in students also boosts Colorado's economy.

"Because what we need is qualified workers in technology that are contributing to the innovation economy," said Farmer. "Especially in Colorado, that's a big part of our economy."

Support for this reporting was provided by Lumina Foundation.