Wednesday, February 9, 2011

SunTrust Foundation Awards $50,000 Grant to the University System of Georgia Foundation

UWG among Beneficiaries; Grant to Be Used to Establish “SunTrust Scholars” Program

The SunTrust Foundation has awarded a $50,000 grant to the University System of Georgia Foundation to implement the “SunTrust Scholars” program at the University of West Georgia and nine other Metro Atlanta University System of Georgia institutions.

Funding received will be used to enable students facing significant financial barriers to attend the 10 institutions.

The University System of Georgia Foundation will facilitate the implementation and evaluation of the SunTrust Scholars program.

“Educating more than 311,000 students each year is becoming increasingly challenging, especially in the tough economic times we face today,” said USG Chancellor Erroll Davis. “With corporate partners like SunTrust, more Georgia students will have access to a college education.”

In 2004, the USG Foundation developed a strategic plan to provide support for the University System goals and mission, setting a high priority on securing funding for and providing scholarships to deserving students, based on merit and/or financial need. Since that time, more than $1.4 million has been awarded to students at all 35 colleges and universities in the University System, with an additional $430,000 designated for need-based scholarships over the next three years.

The USG Foundation raised the award money through its annual event: the Regents’ Awards for Excellence in Education.

This is the first grant awarded directly to the USG Foundation to provide scholarships for students attending multiple USG institutions.

"One of the primary goals of the USG Foundation is to provide scholarships for students attending all USG institutions,” said Foundation Chairman Ken Bernard. “We are truly grateful for SunTrust’s support of the worthy effort.”

The SunTrust scholars will be selected by the institution, with the scholarship funds available to begin in the coming fall semester. The selected students will receive full tuition plus a stipend to cover a portion of additional expenses such as books and fees.

“We at SunTrust realize that a college education directly and positively impacts individual lives, benefits society, and promotes the economic viability of the state,” said E. Jenner Wood III, chairman of SunTrust Bank. “We are pleased to provide this grant award to benefit Georgia’s students and the institutions they will be attending.”

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