Charles E. Schell Foundation Awards $100,000 Grant to Holy Cross College
Holy Cross College has been awarded a $100,000 student loan grant from Charles E. Schell Foundation (Fifth Third Bank, Trustee) to help students fund their four-year undergraduate educations.
This grant is intended to create a self-funding student loan program within the college that continues to provide resources for students indefinitely into the future as long as previous loan recipients successfully repay their loans. Repaid funds become available for future student needs. Loan recipients will understand upon receiving the loans that failure to repay will be a hardship to the college and future students (rather than a faceless corporation). Because the loans are interest free, students will not have the increased stress of compounding debt as they get their first jobs and become independent.
The award enables Holy Cross to provide educational assistance to students who meet the following qualifications:
• Citizens of Ohio, Kentucky, West Virginia or adjoining states (Indiana, Illinois, and Michigan among them) with parents of moderate means;
• Between the ages of 18 and 25;
• Loyal to the United States and its institutions including the Army, Navy and Air Force;
• Honest, upright, intelligent and of practical appearance; and
• Maintaining a minimum 2.0 GPA on a 4.0 scale
“Holy Cross College has been very successful over the years at helping lower income students, gain a fine private college education at a fraction of what many comparable schools charge,” said Pat Falvey, Vice President of Advancement. “This loan program will allow us to help even more students. On behalf of all those who will benefit, we extend our sincerest gratitude to the Schell Foundation for helping us give students a great college experience.”
According to Robert Benjamin, Director of Financial Aid at Holy Cross, “I am particularly excited about receiving this grant because it provides one more tool which I can use to help students meet their financial needs. Students who qualify can receive the money without regard to calendar deadlines or long application processes, we can help students who have immediate needs, and financially rescue students who may otherwise be considering dropping out.”
Published 8/14/2008