Ursinus College has received an $11 million donation from its alumnus Will Abele and his wife Joan to support “stackable” student scholarships, writes Kennedy Rose for the Philadelphia Business Journal.
The largest single gift in Ursinus’ history will go toward the Abele Scholars Program. This provides students with additional funding on top of existing scholarships and financial aid.
Each student in the program will receive $53,000 for expenses outside of tuition, room, and board.
This includes $40,000 for general expenses associated with attending college in annual disbursements of $10,000, $2,000 for startup costs such as books and a laptop, $3,000 for academic enrichment programs, and $8,000 for loan forgiveness.
Eighteen Ursinus students from New Jersey, Delaware, or Maryland with demonstrated financial need will receive the scholarship.
The Abele Scholars Program was first established in 2018. It previously awarded $10,000 plus additional funds for startup costs.
“For Joan and me, giving back to the college is critically important,” said Will Abele, who serves on Ursinus’s Board of Trustees. “This is about more than giving students an advantage. It’s about giving them opportunity.”
Read more about Ursinus College at the Philadelphia Business Journal by clicking here.