The Give Something Back Foundation (GSBF) today donated $3 million to the University of Delaware. The gift will provide up to 150 of the most-needy Delaware students with the opportunity to graduate from the University debt-free.
“If you come from the right places, you go to the right places,” said GSBF Founder Bob Carr, referring to studies that identify family wealth as the greatest predictor of a child’s likelihood of college. “We want to change that,” he added. “We want to prevent kids from giving up on college before they even reach high school.”
GSBF, based in Lockport, Ill. with an office in Princeton, NJ, selected UD because of its Commitment to Delawareans. The Commitment pledges to meet the full demonstrated financial need of Delaware students and limit their loans to just 25 percent of the cost of a degree. Since implementing the financial component in 2010, UD has provided more than $44 million in institutional aid to support Delaware students. In FY15, UD awarded over $13 million in institutional scholarship aid to in-state residents.
“Through the Commitment to Delawareans, the University of Delaware has made a strong statement toward the access and affordability of higher education to all Delaware students,” said Carr, who in addition to serving as GSBF founder is also chairman and CEO of Princeton, NJ-based Heartland Payment Systems.
The Give Something Back Foundation’s program, which begins in the 9th grade, employs well-established practices that help students transition to college, succeed in college and graduate in four years. The first beneficiaries of the gift will be 9th graders this fall who will matriculate at the University beginning in academic year 2019.
The foundation’s high school program is well aligned with UD programs oriented to student college transition and success for low-income, first-generation and minority students, including the Christina Readiness Scholars Institute, McNair Scholars Program and Get Ahead.
“This program will make a life-changing difference for 150 Delawareans, who will benefit from a tremendous gift—the gift of zero debt,” said UD President Patrick Harker. “We are proud and grateful to be a partner in this mission.”
GSBF will reach out to educators, guidance counselors and community leaders in the coming months to identify the first cohort of recipients.
The foundation will be seeking volunteers throughout Delaware to assist with its high-school mentorship program. Interested volunteers can contact: njinfo@www.giveback.ngo.