Group Salutes Finaid Stars
Honoring individuals who have excelled in working for financial aid programs, American Student Assistance (ASA) handed out awards in a program on June 19. The "Making a Difference" awardees included Debra Wiley, Ombudsman for Federal Student Aid at the Department of Education; Natala "Tally" Hart, Director of Student Financial Aid at Ohio State University; Dr. Arnold Mitchem, President of the Council for Opportunity in Education; and Dr. Ann Coles, Senior Vice President for College Access Programs at the Education Resources Institute.
ASA CEO Paul Combe said that they were proud to work with and would honor some colleagues who had made a difference in the lives of students and families by developing the industry through their hard work, commitment, and leadership.
3 Awards Per Day In NM
The New Mexico State Treasurer's Office, which invested $49 million received under the College Affordability Act, is expected to initiate scholarships for more than 1,500 students by fall 2006. According to a new law, the state can fund scholarships with half the interest earned on the invested amount. A 5-percent return on $49 million would generate around $6,700 in interest per day, making $3,350 available for the scholarships. Since the scholarship amounts are $1,000 per student, more than three students per day could receive funds.
Students eligible for the scholarships must demonstrate financial need and must not be receiving other state financial aid such as the NM Lottery Success Scholarship. The money may be used for tuition, books, transportation, and childcare, and other costs of attendance.
$6M Gift To UVA
The late Mortimer Y. Sutherland Jr. has left an estate gift of $6 million to the University of Virginia, his alma mater. Three quarters of the money will be used for a new endowment, the M.Y. Sutherland Jr. Scholarship Fund, which will provide need-based scholarships to students, preferably those hailing from Albemarle County.
The remaining quarter of the gift would create the Helen Sutherland Berkeley Nursing Scholarship in memory of his late sister.
Helen graduated from the School of Nursing and was the first nurse supervisor in the University's eye clinic. Mortimer, a member of the Albemarle County School Board, later became a member of its Board of Supervisors.
Law Firm Gives Scholarships
In a ceremony at the Los Angeles Central Library, 10 promising local teens each received $20,000 scholarships from L.A.-based law firm O'Melveny & Myers. The scholarships were named in honor of the law firm's senior partner and former U.S. Secretary of State, Warren Christopher.
Based on financial need, academic promise, and community service, a high school sophomore was nominated from every high school in the district, totaling more than 60 students. The funds came from a 1992 endowment of more than $1.5 million, established by the law firm in the name of the former Secretary of State. To date, the firm has given 100 awards.
WM Gets State Funds
The College of William and Mary will receive additional financial aid as proposed by a state budget passed by the Virginia General Assembly. For the 2007 fiscal year, the college is slated to receive $4.5 million in additional operating funds and $23.9 million for capital expenditure.
The money will help graduate students with an additional annual funding of $145,000, while undergraduates will receive an increase of $181,025 in financial aid. The fund will also affect a salary increase for teachers, research faculty, and other employees.
The $23.9 million allocated for capital projects will be used primarily to purchase the Williamsburg Community Hospital, update the utilities system and power plant, and maintain academic buildings.
Docs Specialize To Pay Loans
According to the American College of Physicians, high-balance student loans are causing medical students to consider specialized fields of medicine, which often offer higher salaries than general practice.
As of 2005, only 20 percent of third-year doctors are planning on careers in general medicine, as opposed to 54 percent just eight years ago.
Because of this trend, many medical centers are now staffed primarily or solely by nurse practitioners, whose numbers have nearly quadrupled over the past 16 years.