Penn State Fayette Advisory Board Endows Trustee Scholarship
The Advisory Board of Penn State Fayette, The Eberly Campus has established a Trustee Scholarship to provide financial assistance to students at the campus.
Advisory Board Chairman Wayne Port said the board felt a major gift was needed, and that endowing a scholarship was aligned with the goals of the University’s capital campaign, For the Future: The Campaign for Penn State Students.
“Since the emphasis of the campaign is on student, faculty and other support, as opposed to bricks and mortar, I proposed to the board that we establish a trustee scholarship in the minimum amount of $50,000, so that financial aid to our students would be available,” Port said.
“The advisory board unanimously approved the proposal,” he added. “This is the first time that the board as an entity has made such a gift, and it gives me great pleasure that nearly all of the members have contributed to the scholarship fund, which will be in existence and helping students for many years to come.”
To date, the fund is pledged in the amount of about $57,000 and is approximately 60 percent funded.
“This new and personal financial engagement that the Board has embraced is very much appreciated by the campus,” noted Penn State Fayette Chancellor Emmanuel I. Osagie.
All undergraduates enrolled at Penn State Fayette are eligible to apply for the scholarship. First preference will be given to undergraduate students who have completed at least 30 credits at the Fayette campus. The first awards will be made in spring 2009.
Implemented in 2002 upon approval by the University’s Board of Trustees, Trustee Scholarships are designed to keep a Penn State education accessible to all qualified students, regardless of their financial means. The program has a unique matching component: the University matches 5 percent of the principal of each gift annually and combines these funds with income from the endowment to effectively double the financial impact of the scholarship. The program assisted more than 4,600 students in 2007-08.
The For the Future campaign, which aims to secure increased private support for scholarships and other initiatives benefiting students at all Penn State campuses statewide, is now in its leadership gifts phase. A dollar goal will be announced at a later date.