Commentary: Funding Student Scholarships Benefits the Nation's Economy

Oct. 20, 2011 - PRLog -- To understand the importance of scholarships, not just to the individual student but to the economy and to philanthropy, consider the intertwining lives of two men in history: a mining magnate from South Africa and a politician from Arkansas.

South African businessman and politician Cecil Rhodes, who founded the De Beers diamond company, died in 1902 leaving a fortune for an academic scholarship program. It gave the opportunity to outstanding students anywhere in the world to attend Oxford University in his native England.

It was more than a magnanimous gesture. As the first program for international scholarships, it provides the post graduate from one to three years of study in whatever field he or she chooses. Rhodes philanthropy has served more than 7,000 students since the scholarship’s inception.

Among those students are some of the major contributors to progress in science, literature, medicine, law, music, the arts, government and society. One of those students, William J. Fulbright (Oxford class of 1928), went on to become a United States Senator from Arkansas and the originator of the federally funded Fulbright Fellowship program.

The Fulbright Fellowship has become the largest international educational exchange in history, allowing students, scholars, teachers, professionals, scientists and artists to study abroad or in the United States for one academic year.

Since 1946, when President Harry Truman signed the legislation creating the program, its success has been astounding: Forty-three Fulbright alumni have won Nobel Prizes and 78 have won Pulitzer Prizes. To date, more than 300,000 people – 114,000 Americans and 188,000 from other countries – have received a Fulbright.

This is a clear illustration of giving begets giving with the result of preparing – as well as imbuing – recipients with the qualities and skills that build strong societies and thus strong economies.

Without the philanthropists and innovative government programs funding scholarships, the economy and the nation would be very different, which is something to consider during November, National Scholarship Month.

At Harrisburg University of Science and Technology, we believe that building a better nation begins with creating job opportunities for our students. And that’s what we’ve been accomplishing since opening our doors in 2005 to our first class of 113 students.

Our investment in the young learners and the state’s economy has been well received by more than 600 community, corporate, and philanthropic leaders whose gifts to the University have not only been magnanimous, but have been investments in the future of Harrisburg, Pennsylvania, the nation and, dare we say, the world.

Consider that 97 percent of Harrisburg University’s students demonstrate financial need. The private financial support they have received from community and business leaders is essential to their future.

The nation’s economic future is linked directly to that support. Unfortunately, many young men and women who build the foundation of their professional futures in Pennsylvania, leave to pursue job opportunities in neighboring states.

Approximately 80 percent of new jobs in high-growth industries will require a post-secondary degree and more than 50 percent will require a college degree in the science, technology, engineering, or mathematics (STEM) fields.

Demand for STEM talent  to support industries is growing rapidly. Meeting that need makes Harrisburg University an engine of economic development, helping to build a smarter workforce and helping the nation to remain competitive in a 21st Century global economy.

Philanthropic-giving for scholarships is not only a direct investment in the life of a student, but it’s also an investment in the economic and social future of a region, a state and a nation.

-hu-

**Dr. Mel Schiavelli is President of Harrisburg University of Science and Technology.  Founded in 2001, the University is the only Science, Technology, Engineering, and Mathematics (STEM) university between Philadelphia and Pittsburgh and offers 24 undergraduate and 35 graduate programs of study.

# # #

Established in 2001 to address Central Pennsylvania’s need for increased opportunities for study leading to careers in science, technology, engineering and math (STEM) fields, Harrisburg University is an innovative and ambitious private institution.