Continuing its commitment to providing educational opportunities for talented students from all backgrounds, Franklin & Marshall College has selected five students from Lancaster County to receive awards through the Franklin & Marshall College Faculty and Professional Staff (FPS) Scholarship Fund.
The College's Financial Aid Committee changed the selection criteria in this third year of the endowed student-aid fund from supporting high-achieving students from across the country to assisting students of need in the county, said Daniel Lugo, vice president and dean of admission and financial aid. All five entered F&M this fall.
"It is exciting that they all have connections with Pennsylvania and perhaps even faculty and professional staff at Franklin & Marshall," Lugo said. "Even as our student body becomes increasingly more diverse, we are renewing our commitment to recruit the best and brightest students from our region."
Established in 2011 by Franklin & Marshall College President Daniel R. Porterfield with $1 million from a College operating budget surplus, the need-based scholarship recognizes the dedication that members of the faculty and professional staff have to F&M students and the College's mission. With an additional $1 million added to the FPS Scholarship Fund both last year and also approved for allocation from the 2012-13 fiscal year, the fund has grown to $3 million, allowing five students each year to receive awards of $10,000 or more per year.
Porterfield said the scholarship not only represents the College's commitment to providing need-based financial aid to high-achieving students, but also a commitment to strong financial stewardship at the College.
"It's essential for F&M, academically and financially, that we grow our endowment for financial aid," Porterfield said. "There is no wiser investment in the long-term strength of this College. It's inspiring to me that colleagues who work at the institution practicing fiscal discipline have generated at the end of each year budget savings that we can reinvest in perpetuity in financial aid through the endowment."
This year's scholarship recipients are all Lancaster County residents with "sterling academic promise and leadership potential," Lugo said. "They are a wonderful and diverse group in background and interests."
This year's scholarship recipients are:
Members of the faculty and professional staff may contribute directly to the FPS Scholarship Fund by contacting the Office of Advancement.
The College also continues to offer students the FSA (Faculty, Staff and Administration) Endowed Scholarship, which was established in 1999. The income of the FSA endowment is used to provide financial assistance to aid-eligible students from school districts in Lancaster County to attend F&M.