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By CityTownInfo.com Staff
July 9, 2009
In another sign of the dire economic times, many foundations, corporations, and institutions of higher learning are cutting back on scholarships or eliminating them entirely.
The New York Daily News reports that CUNY Hunter College recently rescinded scholarships to Joanna Siwiec and Angelia Vargas, two students who were counting on having their tuitions covered. The institution blamed the economy for the cutback.
"The college can no longer offer the scholarship to every student so we are required to pick the top eight students from now on," said Christopher Hopper, a Hunter official, in an e-mail.
"I would probably not have gone to a CUNY [school]," said Siwiec, who received the news that the scholarship was being rescinded on June 24. "I would probably have gone to the College of St. Vincent. They gave me a pretty good financial package."
After the Daily News called the college last week, the scholarships were restored to both students.
Not all students are as fortunate. The Atlanta Journal-Constitution reports that Georgia colleges and universities are also being forced to cut scholarships as endowments decline. At the University of West Georgia, for example, officials eliminated 70 scholarships after the school's endowment dropped by about 29 percent. Similarly, Clark Atlanta University expects to cut scholarships by about 3 percent after its endowment fell by 26 percent. At the University of Georgia, endowments dropped 25 percent--almost $163 million--and officials are finalizing cuts.
"The situation will likely get worse for all of us," said Carlton Brown, president of Clark Atlanta. "What's worse is this is happening at a time when students are in greater need of financial assistance."
Similarly, The New York Times reports that the Fulfillment Fund, a nonprofit which works with Los Angeles public high school students, has cut the number of their scholarships offered in half while tightening requirements. In addition, the Davis United World College Scholars program has cut their scholarship amounts in half.
"We've just been boxed in by circumstances we didn't anticipate," said Philip O. Geier, executive director of the Davis program.
Janine Fugate, a spokeswoman for Scholarship America, which administers scholarship programs for about 1,200 providers, confirmed in The Times that less money is available for students, and applications are increasing. And Peterson's, an online college preparation site, noted that even though the number of scholarships rose in 2008, the average amount awarded fell almost 7 percent--from $4,607 to $4,300.
"Common sense is telling us that we're going to see less money coming in," said Timothy G. Snow, president of the Florida-based George Snow Scholarship Fund, who was quoted in The Times.
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|---|---|---|
 | College Board Report Shows Many Capable Students Do Not Take AP Exams | |
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