The Bernard Osher Foundation of San Francisco has created a $1 million endowment at UALR to help working adults between 25 and 50, out of college for five years or more, to finish their degrees.
The Foundation had been giving UALR $50,000 a year since 2012 and the first beneficiaries will graduate in may. The endowment is to continue this level of support in perpetuity to held bridge the cost gap for students.
The program provides $4,000 a year to full-time students and $2,000 for part-time students. From a UALR release:
“This endowment could be a game-changer for higher education in Arkansas,” said Laurie Ann Ross, who was Director of Corporate and Foundation Relations at the time she wrote the grant and subsequent reports.
“It represents two years worth of reports that show how we are reaching a segment of students who benefit most from the extra financial support this funding provides. Osher Scholars are returning to school, staying in school, and finishing their degrees,” said Ross, whose current title at UALR is Director of Development and External Affairs.
Bernard Osher made a fortune in banking and is an arts collector who established an auction house, Butterfield & Butterfield, that was sold to eBay.