City University of New York (CUNY) has received a $1 million grant from BNY Mellon. This grant will fund scholarships for STEM and finance students in CUNY senior colleges.
CUNY Receives $1M Grant
Grant To Fund Scholarships For STEM, Finance Students
City University of New York (CUNY) has received a $1 million grant from BNY Mellon. This grant will fund scholarships for STEM and finance students in CUNY senior colleges. The BNY Mellon Foundation awarded the grant, so CUNY can provide financial support to high-achieving, low-income students in an effort to help raise graduation rates of recipients.
Over three years, the grant will give 330 juniors and seniors financial support to stay on track to earn baccalaureate degrees in either a STEM or finance-related field. Selected students are designated as BNY Mellon Foundation Scholars. Eligible students must be graduates of CUNY community colleges that have completed the University’s Accelerated Study in Associate Programs (ASAP) and must be on course to earn their bachelor’s degrees within two years to receive the BNY Mellon Foundation Transfer Scholarship.
“We are grateful to the BNY Mellon Foundation for this generous and groundbreaking gift, which will help hundreds of CUNY students complete their degrees,” said Interim Chancellor Vita C. Rabinowitz. “It is of great significance that the grant was conceived as a link to CUNY’s pioneering ASAP program. The BNY Mellon Foundation Transfer scholarships will be both a reward to deserving students and an incentive for them to keep going. We’re optimistic the scholarships will increase the number of students who complete ASAP and go on to earn baccalaureate degrees.”
The Scholars will receive scholarships to defray the costs of tuition, books and fees for each academic year. This is the largest grant the Foundation has awarded to CUNY.
“This scholarship program is a first for the BNY Mellon Foundation and we’re honored to embark on this partnership with CUNY, the nation’s leading urban public university,” said Daisey Holmes, president of the BNY Mellon Foundation. “What makes this scholarship special is its focus on reducing the barriers to graduation for students who have already faced hurdles in life and demonstrated resiliency and a drive to succeed academically. The grant was enthusiastically approved by the BNY Mellon Foundation Trustees, and we’re proud to team with CUNY to help these students get to their finish line.”
Read more at http://www1.cuny.edu/mu/forum/2019/01/24/bny-mellon-awards-1-million-grant-to-cuny/
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