PROVIDENCE – The Rhode Island Foundation has received the largest monetary gift it has ever received specifically for scholarships, which will be put toward helping dozens of the state’s high school graduates attend college.
The foundation announced Monday that it received a $12 million gift from the Robert G. and Joyce Andrew estate to create a scholarship fund in the late donors’ name. The new fund, the foundation said, is expected to generate enough income annually to provide close to 100 scholarships per year.
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The fund will provide scholarships – which are estimated to average about $6,000 each – to applicants who pursue undergraduate studies at Bryant University, Providence College, Rhode Island College, Roger Williams University, the Community College of Rhode Island and the University of Rhode Island within three years of graduating high school, the foundation said. Additionally, the foundation said the scholarships are renewable for up to three additional academic years.
In a statement, Drew Davies, co-executer of the Andrew estate, said in a statement the Andrews recognized the importance of education but realized most children couldn’t afford it. The Andrews, themselves, could not afford an education when they were young, he said.
“They wanted to pass along the opportunity and gift of education, yet keep it in Rhode Island,” Davies said. “Bob and Joyce would be humbled by the joy their gift will bring. The magnitude of this gift will carry on for generations and change many lives.”
Rhode Island Foundation CEO and President Neil D. Steinberg said in a statement that these funds each year will “make a meaningful and lasting difference in the lives of each of the many recipients.”
James Bessette is the PBN special projects editor, and also covers the nonprofit and education sectors. You may reach him at Bessette@PBN.com. You may also follow him on Twitter at @James_Bessette.
