Columbia, MO – April 13, 2012 – (RealEstateRama) — Aside from the $1.1M proceeds from the state lottery, the University of Missouri System will also put up an additional $1.1M to supplement the endowment of need-based scholarships for undergrads.
The University of Missouri System recently announced its intention to offer need-based student scholarships for undergraduates using proceeds from the state lottery. The proceeds, which amounted to $1.1M, were released by Governor Jay Nixon and would be leveraged to put up an additional $1.1M in order to offer a total of 56 undergraduate scholarships.
UMS President Tim Wolfe considers this an exciting opportunity and expresses the continuous appreciation of the school for additional appropriations – such as the funds released by Governor Nixon – that significantly help in making students’ dreams of going to the University of Missouri come true.
Wolfe also mentions that the new scholarships about to be offered are in line with the governor’s objective for increasing the state’s college attendance and graduation rates.
Aware that a huge number of Missouri families are still struggling to cope with various economic difficulties, Wolfe is hoping that the scholarships would make a considerable difference with such families and consequently make college education more accessible as well as affordable for their children.
For the fiscal year of 2011, UMS had already devoted $102M in institutional grant aid, resulting to having over 80% of its undergraduate students benefiting from one form of student aid or another. Moreover, in the past ten years or so, the university was also able to increase institutional financial aid by approximately 80% for all four of its campuses. Meanwhile, the university worked hard to maintain an average of 2.7% for tuition rate increase in the past five years. In comparison, tuition rate increase
was at 6.1% in nearby states.
Each scholarship will be funded by endowments amounting to $20,000 from the state lottery proceeds and another $20,000 contribution from the university itself. Although the initial offer would only include fifty-six scholarships worth $2,000 each, the university aims to offer additional scholarships as endowments used for the funds increase in value.
Naturally, additional contributions made by generous benefactors can help provide greater aid and support to students in need. Wolfe expresses his confidence that the school’s alumni and supporters would be able to provide additional financial aid for the provision of more scholarships in the future.
For more information regarding the University of Missouri System scholarships that are about to be offered, please contact Jennifer Hollingshead at (573) 882-0601 or at .
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