Penn State Altoona to receive $1 million scholarship endowment

Altoona, Pa. — Penn State Altoona has received a million-dollar commitment from a donor who has requested anonymity to establish an endowment that will fund scholarships for students who have financial need. The scholarships will cover the cost of tuition and fees, room and board, and books. In addition, scholarship recipients will receive a stipend that they may use to help cover the cost of participating in events and activities that will enrich their overall educational experience.

The endowment is part of the donor's estate plans and will be funded upon the donor's demise.

According to Penn State Altoona Chancellor Lori J. Bechtel-Wherry, the donor has expressed belief in the value of a college education and cited a degree as a means for individuals from underprivileged backgrounds to escape a life of poverty. The scholarships are intended for students who have the intellectual capacity and motivation to benefit from a college education but do not have the financial resources to pay for it.

Through their personal interest and financial investment, benefactors who create scholarships embrace the University's mission and Penn State Altoona's commitment to the realization of each student's academic potential.

"On behalf of the entire Penn State Altoona community, I express appreciation for a gift that has the potential to change lives," said Bechtel-Wherry. "The donor has relieved a great hardship from students who have the ability to achieve their academic dreams, but would have been prevented from pursing them by financial circumstances. While enrolled, these students will be able to maintain complete focus on their academics and career aspirations. We are excited about this gift and the bright future it offers to students on our campus. The college will carefully steward the gift to ensure that the donor's wishes are fulfilled."

The endowment is the largest private commitment of its kind ever made to Penn State Altoona.

 

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Last Updated March 19, 2009