SCICU Honored With $50,000 Power:Ed Grant For Student Retention Scholarships
Tuesday, October 8th, 2019
South Carolina Independent Colleges and Universities (SCICU) is pleased to announce the receipt of a $50,000 grant from S.C. Student Loan Corporation’s new Power:Ed program. SCICU is honored to be the inaugural award recipient in this program designed to support higher education in South Carolina.
The 20 SCICU member institutions will use the new Power:Ed funding to support rising juniors and seniors at risk of dropping out due to financial difficulties.
Having worked on college campuses, I know there are successful students who have completed a couple of years who financial aid officers worry may not come back because they have no financial cushion,” said Dr. Jeff Perez, SCICU president and CEO. “The Power:ED grant will provide the support that will help keep these students on track to graduate.”
Power:Ed, formed in June 2019, has three areas of focus:
Supporting low income, minority, and first-generation students
Improving access to college and degree completion
Creating pathways to quality workforce opportunities.
"At South Carolina Student Loan, we’ve seen how providing financial aid to students can be the deciding factor in educational success. We believe education is the single greatest investment we can make in our students and our state's future," said South Carolina Student Loan CEO Trey Simon. “Power:Ed, working with SC Student Loan, wants to help students stay in and complete school.”
SCICU and S.C. Student Loan Corporation (SCSL) have a long partnership in supporting independent higher education in South Carolina. In 2006, SCSL donated $1 million to SCICU. Annual earnings from these funds are used to distribute $2,500 scholarships at each of SCICU’s 20 member colleges and universities.
"These students are bright and hard-working, but they can find themselves – through no fault of their own – on thin financial ice, said Perez. “The Power:Ed grant greatly increases our ability to help keep these students in school."