Scholarship Program Facts

 

Worcester State College is a community of hardworking students, professors, and staff, driven by its tradition and mission—high-quality, accessible education.

 

The Commonwealth of Massachusetts helps assure accessibility to WSC by keeping tuition and fees low compared to private colleges. Because of low tuition and fees, the College is unable to dedicate operating funds to scholarship aid. Therefore, scholarship funds must be provided by private donors.

 

A majority of Worcester State Foundation’s scholarships are endowed, meaning donors have given a minimum of $25,000 to support students. Other scholarships are provided by annual outright gifts of cash or stock.

 

•         The Worcester State Foundation undergraduate scholarship offerings have grown from awarding 15 scholarships awarded in 1998 to over 200 in 2008.

•         Many WSC students work their way to a degree by holding down multiple jobs and juggling the competing demands of academic studies, work, and family.

•         Scholarship aid helps more of these WSC students to realize their dreams of attaining a college education.

•         Scholarship assistance tips the balance in students’ favor, making it possible for them to stay on track academically.

•         The number of students who apply for academic scholarships grows each year.

•         Thousands of applications are reviewed each year by the dedicated members of the Scholarship Committee.

•         To establish an endowed tuition scholarship, a minimum gift/pledge of $25,000 is necessary (payable over a maximum of five years).

•         To establish an endowed tuition-and-fee scholarship, a minimum gift/pledge of $100,000 is necessary (payable over a maximum of five years).

•         Worcester State Foundation’s endowment is a permanently invested portfolio that generates annual income for a variety of needs, including scholarships.

•         More than 70% of the endowment is restricted for scholarships, and such funds usually award 5% of the market value.

•         Gifts that establish endowed scholarships and are paid in full by June 30, 2010, qualify for the state’s match, yielding an additional dollar for every two dollars received.

•         Gifts for annual scholarship aid by June 2010 also qualify for the match.

•         The Foundation hosts an event each academic year at which donors and scholarship recipients can meet face-to-face.