UPS FUND PROVIDES OVER $2 MILLION TO PRIVATE COLLEGES; TENNESSEE PRIVATE COLLEGES RECEIVE MORE THAN $100,000
Throughout the nation, 615 private institutions will receive a UPS Scholarship, which will be dispersed to students who are selected as UPS Scholars. Institutions select the students on the basis of financial need and academic achievement.
In addition to the $1.8 million designated for scholarships, other funds will be used for innovative programs designed to improve educational services for students and to encourage collaboration among colleges. Programs will be selected through a competitive matching grants process called the UPS National Venture Fund. Since its inception in 1999, over $4 million in Venture Fund grants have been awarded, and, including local matching grants, the total impact of the program exceeds $15 million.
The UPS scholarships and grants are funded by the UPS Educational Endowment Fund, which is held and administered by FIHE and was originally funded through grants to FIHE from United Parcel Service (UPS). Since its inception, the UPS Educational Endowment Fund has generated over $42 million in scholarship support. The current value of the endowment is approximately $41 million.
In announcing the grants, Lisa Hamilton, president of The UPS Foundation, said “Our young people, our communities, and our workforce all benefit from the increased opportunities that FIHE provides. The UPS Foundation is proud to continue our longstanding partnership with FIHE to support this meaningful and sustainable program.”
The Foundation for Independent Higher Education is the national partner in a network of 33 state funds, including the