University Park, Pa. -- The Penn State Alumni Association has announced that it will contribute $300,000 to establish scholarships for undergraduates who plan to study abroad as part of Penn State's education abroad program. The Alumni Association's gift provides scholarships for this popular program and continues a tradition of philanthropy unmatched in American higher education.
The association's contribution comes from its Margin of Excellence fund, created in 2000 as a permanent endowment to support annual gifts to the University. "We're proud to be providing this gift for this exciting program," said Lewis Gold '59, chair of the Margin of Excellence committee and vice president of the Alumni Association. "This program has often been described as life-altering by the students who have participated in it."
The $300,000 commitment will be used to endow the Penn State Alumni Association Education Abroad Scholarship to support students while they enhance their knowledge of other cultures and enrich their total overall educational experience. The scholarships will be available to students at all Penn State undergraduate campuses and will be based on financial need, assuming all academic qualifications are met. With access to 130 programs in 49 counties, education abroad serves more than 1,000 students a year.
"Education abroad plays an important part in internationalizing the Penn State learning experience. Participating in study abroad helps students develop international cultural competencies essential for leaders in the workforce of the 21st century," said John M. Keller, director of the education abroad program.
"While other scholarships do exist for students who want to study abroad, the current funds do not come close to meeting the needs of our students," said Jan Jacobs, vice provost for Undergraduate Education and International Programs. "I thank the Penn State Alumni Association for this generous gift, which will make it possible for more students to take advantage of this valuable experience."
The Alumni Association's gift is the latest in a long tradition of philanthropy to the University. Since 1988, the association has contributed nearly $12 million to Penn State. In an unprecedented event in American higher education, the association established its own endowment, called the Margin of Excellence fund, with the earnings earmarked for annual philanthropy to the University. Since the initial gift in 2001, the association has donated $1.75 million to the University from the fund.
"Cross-cultural understanding is no longer a luxury in the business world," said Alumni Association President Marianne Alexander '62. "This gift also allows us to realize our vision to be the national exemplar of how an alumni association constantly contributes to the betterment of its alma mater and succeeding generations of students."
With more than 152,000 members, the Penn State Alumni Association is the world's largest dues-paying alumni association. The organization is committed to a mission of connecting alumni to the University and to each other, providing valued services to members and supporting the University's mission of teaching, research and service. Through the collective power of its members, the Alumni Association is making Penn State an even better place for current and future generations. For more information about the Alumni Association, visit http://www.alumni.psu.edu or call (800) 548-5466.
For more information about study-abroad opportunities, visit http://www.international.psu.edu/students_study_abroad/