People & Society

Businessman Pays Off Entire Graduating Class's College Tuition For A Second Time

Dec 28, 2022, 9:24 PM

Dennis Frandsen gifted the 2019 graduating class of Luck, WI, full tuition for 2 years of college.

KARE11 | KARE 11

In 2019, the graduating class of the public high school in Luck, Wisconsin was shocked to find out that their college tuition was going to be paid for. The small town had 34 seniors looking to graduate during the 2018-2019 school year, all of whom were eligible for financial help from a banker with a self-made fortune who came from the area.

Dennis Frandsen, born and raised in Luck, grew his banking company, Frandsen Bank and Trust, to expand all throughout the states of Wisconsin and Minnesota. Years later, he decided to give back to his hometown.

Frandsen First Informed Parents Of The Plan In October 2018.

Frandsen talked with Luck's graduating class.

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According to KARE 11, Frandsen revealed his plans to fund two years of technical college for any graduate who planned to go that route after high school.

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Frandsen Was Born And Raised In Luck.

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Frandsen grew up in Luck, having gone to high school there until transferring in favor of a better bus route. He currently has a bank branch in the town and owns farmland as well.

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He Did Not Attend College But Managed To Grow A Banking Business.

Frandsen began a logging business as a teenager. When he applied for a loan at the bank, he was initially denied. Now, he owns over 35 bank branches, as well as a plastic manufacturing company.

His Strong Ties To His Hometown Inspired Him To Give Back To The Students.

Another inspiration came from seeing top students get scholarships. "What about the average students? Are we just going to forget about them?" Frandsen said, noting that he was an average student as well.

Frandsen's generosity helped students that would otherwise not be eligible for the top grants.

Frandsen's Offer Was Extended To The High School In Rush City, Minnesota, As Well.

In addition to helping Luck students with their tuition, Frandsen decided to also help the students of nearby Rush City.

In Fact, He Did The Same Thing A Year Prior.

Frandsen met with the Pine City graduating class of 2018.

KARE 11 | Boyd Huppert

Frandsen's offer to the 2019 graduating classes wasn't a unique, one-time thing. He'd actually done the same thing for the Rush City graduating class of 2018. KARE 11 spoke with him about that endeavor as well.

The Offer Was For Any Student Planning To Go To The Nearby Technical College.

Of the 59 graduates of the 2018 year, at least 25 planned to take Frandsen up on his offer. Students who otherwise would've skipped post-secondary were able to study at Pine Technical and Community College.

The Offer Also Came With Money For Textbooks.

Frandsen held a meeting with students and parents in Rush City.

KARE 11 | Boyd Huppert

Frandsen additionally offered $1000 for any student who took him up on his offer, meant to be used to buy textbooks.

Frandsen Created A Charity To Help Students With Their Tuition.

Frandsen acknowledges that families who live in small towns do not always have the resources to pay for college tuition. He started The Frandsen Family Foundation in order to help students from small towns get through school.