According to Ross Williams' report for Georgia Recorder, Georgia Governor Brian Kemp is pushing for an expansion of the University of Georgia Foundation’s DREAMS Scholarship program that would include a one-time investment of $325 million in state funding for the program. “In this era of high prices and new challenges for those graduating from high school, we also recognize the advantage need-based financial assistance can give to those who would not otherwise be able to access higher education,” Kemp stated in his recent presentation to Georgia legislators. “Like their peers who have the means to attend college, these students have great dreams for rewarding careers and impactful lives, but they do not always have hope that those dreams can become reality,” he added. Based on Ross' report, the new scholarship could provide up to $3,000 to students who meet qualifications, including that they work or volunteer at least part time. Recipients also need to be Georgia residents, demonstrate financial need after all their other scholarships and grants are considered and complete a financial literacy course. Of the $325 million, $25 million would be direct scholarship money, and the remainder would serve as start-up funds for an endowment, the proceeds of which the foundation would withdraw from every year to pay for the scholarships. The plan is to grow the endowment so it could support offering tens of millions of dollars in aid to students.
Comments
Post a Comment