Universidad del Sagrado Corazón and Fundación FonalledasEstablish Scholarship Fund for Students in Economic Need
San Juan, Puerto Rico –April 15, 2024 – Universidad del Sagrado Corazón (Sagrado) and Fundación Fonalledas have formalized an agreement to launch the Fundación Fonalledas Scholarship Fund aimed at economically disadvantaged students at this academic institution. With an initial contribution of $100,000 each, both entities are committed to promoting access to higher education and leadership development among Puerto Rican youth.
The main objective of this scholarship fund is to support undergraduate students who demonstrate academic excellence and social commitment, providing them with the opportunity to pursue their university studies at Sagrado. Eligibility criteria include maintaining a cumulative grade point average of 3.3 or higher, enrolling full-time, and demonstrating financial need, among other requirements. Candidates will be selected annually based on fund availability and their dedication to community service and transformative leadership in Puerto Rico.
“At Sagrado, we aspire for every student to receive the financial assistance they need to complete their studies. We do not want any student to stop studying because they lack the necessary resources. Fundación Fonalledas shares this aspiration, and their donation brings us closer to making it a reality. The Foundation has a deep commitment to the education of Puerto Rican youth. We thank the Foundation, Don Jaime, Jaime Luis, and the entire Fonalledas family for their trust and support of our mission,” emphasized Sagrado’s President, Lic. Gilberto J. Marxuach Torrós.
Fundación Fonalledas has granted $100,000 to support the University’s Scholarship Program, which currently benefits over 240 students. In recent years, the persistence rate of Scholarship Program participants has remained at over 97%, which is a very encouraging number compared to the low graduation rate of university students in Puerto Rico. According to statistics from the Postsecondary Institutions Board, for the academic year 2020-2021, the graduation rates among the main private nonprofit universities ranged between 28.4% and 45.4%. This is attributed to the financial relief that allows them to focus on their studies without the burden of having to work multiple jobs to cover their tuition and related expenses.
Jaime Fonalledas Rubert, entrepreneur and philanthropist, president of Fundación Fonalledas, expressed his satisfaction in formalizing this agreement: “We are proud to formalize this agreement with Universidad del Sagrado Corazón to continue our mission of providing opportunities to students from low-income backgrounds to achieve their university dreams, which we have been carrying out at the Fundación Fonalledas for over 60 years. At Sagrado, we have identified a great ally thanks to its commitment to those most in need, innovation, and its adaptation of curricula to the priorities of today’s students.”
This strategic alliance between Universidad del Sagrado Corazón and Fundación Fonalledas reinforces the joint commitment of both institutions to the education, development, and progress of Puerto Rico.
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