A new scholarship program at Temple University will provide needs-based funding to first-generation college students who face challenging financial circumstances.
The Broad Street Finish Line Scholarship program, a $1.5 million commitment from existing endowment funds, aims to boost graduation rates and retain students seeking their family's first college degree.
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“As Philadelphia’s only public four-year university, we want to keep Temple as affordable as possible, especially for students in Philadelphia,” said Shawn Abbott, vice provost for admissions, financial aid, and enrollment management at Temple University.
Beginning in fall 2019, the program will award scholarships in increments of $500 to $5,000 depending on individual financial aid.
Approximately $200,000 will be awarded to incoming first-generation students each year, while the majority of funds will support students who experience a change in financial circumstances during their academic careers at Temple. Preference will go to students from Philadelphia.
In the future, the univeristy hopes the program can be sustained in part by donations from those who received scholarships and went on to find success in their careers.
“By minimizing student debt through on-time graduation, the university will encourage recipients of this scholarship—and other members of Temple’s community and its vast alumni network—to support their fellow Owls through contributions to the program," Abbott said.