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S M T W T F S

UPS FUND PROVIDES OVER $2 MILLION TO PRIVATE COLLEGES; TENNESSEE PRIVATE COLLEGES RECEIVE MORE THAN $100,000

9/15/2008
By:
ticua

Nashville, TN - The UPS Foundation of Atlanta, Georgia, and the Foundation for Independent Higher Education (FIHE) of Washington, D.C., jointly announced that more than $2.2 million in grants is being awarded to benefit private colleges and universities across the nation.  A grant of $107,300 was awarded to the Tennessee Independent Colleges and Universities Association (TICUA), the bulk of which will be distributed to its 37 member colleges and universities for UPS Scholarships of $2,850 each. TICUA will use the remainder to develop new programs in support of student success.

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 Tennessee Independent Colleges and Universities Association, which develop resources for private colleges and universities.  Since its founding in 1958, FIHE and its partners have received more than $1.5 billion in support for private colleges.

TICUA engages Tennessee's private colleges and universities to work collaboratively in areas of public policy, cost containment, and professional development to better serve the state and its citizens.  For more information about TICUA, please visit www.ticua.org