Students looking for college scholarships are going to have a harder time this year as providers, hammered by falling investment returns and declining philanthropic support, cut back.
The Fulfillment Fund, a nonprofit that works with Los Angeles public high school students, has reduced the number of college scholarships offered over the last three years by nearly half and has tightened requirements students must meet, said Maria T. Espinosa, director of program operations.
The Davis United World College Scholars Program, which last year began paying $20,000 per scholarship recipient at colleges that had at least five scholarship winners enrolled, has cut the amount in half, returning to pre-2008 levels.
We've just been boxed in by circumstances we didn't anticipate, said Philip O. Geier, the program's executive director, adding that he hoped to increase the scholarship payments in the future. Read more…
Publish date: June 25, 2009