News stories this week reported that contributions from wealthy donors will result in new college grants and loans for students in Kentucky, New York, Ohio, and West Virginia. The money probably won’t be available until next year, but the opening bell for the 2010 FAFSA is only 6 weeks away, anyway.
One happy recipient of a generous financial aid donation is the University of the Cumberlands in Williamsburg, Kentucky. The Charles E. Schell Foundation awarded the University a $100,000 grant to be used for interest-free student loans. To be eligible, college students will need to be citizens of Ohio, Kentucky, or West Virginia (or some unspecified adjoining states), between the ages of 18 and 25, with a minimum 2.0 GPA on a 4.0 scale.
A little research on the Charles E. Schell Foundation shows that the Foundation has awarded many such grants to dozens of schools in the region, including Ivy Tech Community College, Midway College, Union College, Denison University, Oakland University, University of Evansville, and Shawnee State, to name just a few. If you’re a college student in this part of the country, you should check with your financial aid office about whether your school may have the same interest-free loan program. Clearly, the Charles E. Schell Foundation is a generous supporter of higher education.
And numerous news publications reported a new $200 million grant from investment bank Goldman Sachs to provide scholarships for business students at community colleges. The first school to get money for scholarships will be La Guardia Community College in Queens, New York, but the plan is to roll out business education scholarships to other local community colleges as well. Goldman Sachs also apologized for its contribution to the collapse of the economy a year ago, but said that the apology and its new scholarship program were not necessarily related. But The New York Times could not resist mentioning that Rolling Stone Magazine has referred to Goldman Sachs as “a great vampire squid wrapped around the face of humanity,” so now, regretfully, I can’t resist either. The scholarships are a good idea, though.