Last June the trustees of The American College of Greece voted unanimously to vastly increase the resources available for financial aid to students in the areas of need based grants, scholarships, study abroad, internships and work study over the next four years. This decision will result in annual expenditures of almost 6,000,000 euros by the 2015 – 2016 academic year (as compared with approximately 1,000,000 Euro in 2011 – 2012). This investment is a crucial step in addressing the financial impact of the crisis on families and in ensuring that access to the College and its programs continues to be available to a financially and geometrically diverse cross section of talented and promising students, as has been the tradition of the College since its founding in 1875. In order to meet this commitment, the College will contribute 50% of the required funds from its own reserve assets and raise the balance from generous alumni, foundations, corporations and friends.
Last month, a generous friend of the College, long committed to the success of PIERCE, established an endowed scholarship fund that will provide ½ tuition awards to high performing but financially challenged students. This endowed fund, the first to be established as part of the trustee endorsed scholarship effort, will be permanently invested with other assets of the College and the income will provide grants in perpetuity.
ACG President David G. Horner remarked “we are tremendously grateful to the donor of this fund and hope it will serve as an example for other alumni and friends who wish to support students. ACG has a long history of assisting students seeking to achieve a quality education that dates back to the College’s early days in Smyrna. This tradition continued after the College relocated to Athens. In fact in the years before and after World War II as many as 40% of students received aid. I am very pleased the trustees have revived this important commitment, especially at this difficult time in Greece.”
Vice President of Development George Triantaris noted “the donor was interested in finding a way to provide permanent support to PIERCE students. Setting up an endowed fund was the perfect solution. We are thrilled the donor chose to partner with ACG to make an impact on the education of young people in Greece.”
For more information about scholarships offered by PIERCE College, please visit: http://www.acg.edu/scholarships-continuing-students or contact the Financial Assistance and Planning Office Tel.: +30 210 6009800, ext. 1327 | email@example.com
To learn about ways to create your own scholarship fund at ACG or to contribute to existing funds please contact the Office of Development: