YOUNGSTOWN – The Youngstown State University Foundation announced that the YSU Foundation Board of Trustees has voted to approve an additional $1.4 million in scholarship aid to YSU students for the 2020 – 2021 academic year. These funds will specifically assist students impacted by COVID-19 who are in financial need. Additionally, the foundation will provide $8.5 million in support of YSU students in the coming academic year, with a record total of $9.9 million in overall support.
The $1.4 million Emergency COVID-19 Scholarship will help a range of students, including those transferring to YSU, offering up to $4,000 in scholarship aid. Existing students and new incoming freshmen are also eligible to apply for the same funds. The funds will be awarded from the YSU office of Financial Aid & Scholarships. Application information is expected to be announced in the coming months.
“The Emergency COVID-19 Scholarship plays an all-important role for students who are facing circumstances that impact their tuition expenses,” YSU President Jim Tressel said, adding that retention efforts are also a monumental priority.
The scholarship derives from the foundation’s board-designated Merit Scholarship endowment funds. The foundation assures that no donor endowments are affected, and that money stays only within the donors’ respective endowment accounts.
“We are grateful to the countless donors, many of whom are no longer with us, who have made this emergency allocation possible,” said YSU Foundation President Paul McFadden. “I also wish to extend a special thank you to our Board of Trustees for their vision and leadership in creating this funding at a time of unprecedented need for students. The YSU Foundation Board of Trustees holds their fiduciary responsibility to this endowment, which was created over 53 years ago, with the highest regard.”