University Park, Pa. — Nearly 300 Penn State alumni and friends, most of them military veterans, have contributed approximately $51,000 to endow a scholarship that will assist veterans or dependents of veterans at the University who have a demonstrated financial need and have achieved superior academic records.
Graduate or undergraduate students in any degree program at any Penn State location are eligible for the Veterans Special Needs Endowed Scholarship, which will be awarded for the first time in the spring 2009 semester.
Penn State enrolls about 2,000 veterans at its 24 campus locations throughout Pennsylvania, according to Brian Clark, director of the University’s Office of Veterans Programs. He also noted that the Penn State World Campus uses the Internet and other distance education tools to meet the educational needs of several hundred military personnel around the globe.
Edward N. Thompson, director of development in the Office of Educational Equity, said fundraising for the scholarship began in conjunction with the 2006 Veterans’ Day observance, when an appeal was made to Penn State alumni who also were veterans.
"The University is thankful to each person who supported this scholarship endowment,” Thompson said. “It will last in perpetuity and help make a Penn State education possible for many deserving students. We also welcome additional gifts that would enable us to broaden the scholarship’s impact.”
Penn State invests endowed gifts and uses a portion of the annual income to support the purpose of the endowment. Remaining income is reinvested to protect the financial strength of the principal.
Clark said students interested in the scholarship should contact his office, which is part of the Office of the Vice Provost for Educational Equity. Visit
http://www.equity.psu.edu/veterans/ or call (814) 863-0465 for more information.