LOS ANGELES, July 7 (Xinhua) -- Students, whether domestic or foreign, are
finding it difficult to obtain scholarships from U.S. universities because of
the current recession.
Scholarship fundraising is down across the United States because of the
recession, Barbara Charnock, program coordinator of Scholarship America's
regional office in California, said.
Scholarship America is the parent organization of community-based Dollars
for Scholars chapters that provide local scholarships.
"Chapters has noticed a large, large turn-down in fundraising. It is
happening across the country," she said.
The drop in donations has forced universities and foundations to reduce the
number of scholarships and their worth.
The Fulfillment Fund, a non-profit organization that works with Los Angeles
public high school students, has reduced the number of scholarships offered over
the last three years by nearly half and has tightened requirements students must
meet,
Maria T. Espinosa, director of program operations, said. The David United
World College Scholars Program, which last year offered five 20,000 dollar
scholarships, has now drastically reduced that number too.
Many foundations, corporations, state governments and universities in the
U.S. have also reduced their support of scholarships. Some programs have been
reduced or canceled for lack of money.
According to Scholarship America, a non-profit company that administers
scholarship programs for about 1,200 providers, less money is now available for
students. Meanwhile, the number of applications is rising.
In Georgia, public and private colleges have eliminated some scholarships
and are scrambling to find money for some positions and research projects as
endowments dwindle.
College endowments have declined by about 25 percent over the past year,
according to officials at several Georgia colleges.
The endowments lost their value as stock prices, real estate, and other
investments plummeted. Profits from endowments support scholarships, professors,
department chairs, and research-related travel for some professors.
The endowment at the University of West Georgia has dropped by about 29
percent, forcing officials to eliminate about 70 scholarships.
Clark Atlanta University's endowment fell by about 26 percent forcing that
university to cut back on scholarships. Typically about 23 percent of incoming
freshmen receive scholarships, but it is expected that figure will fall by about
3 percent.
The University of Georgia saw its endowment decline by about 25 percent, a
loss of almost 163 million dollars.
According to the Association of Fundraising Professionals, the trend is
nationwide.
Clark Atlanta University saw a 26-percent drop in its endowment from 42
million dollars to 31 million dollars. Kennesaw State University, 17 percent
from 30 million dollars to 25 million dollars; Oglethorpe University, 20 percent
from 20 million dollars to 16 million dollars; University of Georgia, 25 percent
from 648.2 million dollars to 485.5 million dollars; and University of West
Georgia, 29 percent from 17 million dollars to 12 million dollars.
State grant programs too have either been reduced or totally cut.
California, which is in a severe budget crisis, is consiering the shutdown
of a state scholarship program benefiting hundreds of thousands of students.
In Pennsylvania, the maximum amount available to resident college students
has fallen to 4,120 dollars from about 4,700 dollars last year, according to the
Pennsylvania Higher Education Assistance Agency.
The New York Times Company, which offers the Times College Scholarship to
New York City high school students, has cut its number of scholarships to 12
from 20.
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