Foundation Publishes Scholarship Catalogue

The SUNY New Paltz Foundation recently released the 2012-13 scholarship catalogue.

Every March the foundation publishes a catalogue with a wide variety of scholarship offerings for the upcoming academic year.

“Scholarships [for] New Paltz are funded by generous gifts the foundation receives from its alumni, faculty, staff and friends of the college,” Sally Cross, executive director of the SUNY New Paltz Foundation, said. “This year there are 65 different funds with awards totaling more than $210,000.”

Danielle Mattina, a third-year public relations major, said she did not know that New Paltz had a scholarship book. She said that although she is not applying for a scholarship, she thinks others should.

“Many students do not have the money to get their way through school, so I think it’s important to offer scholarships,” Mattina said.

Students are encouraged to apply for all scholarships they are eligible for, Cross said.

“Scholarships are important to students as they can reduce the amount of loan debt they face after they graduate, and reduce the amount they pay for their college education,” Cross said.

Alongside scholarships, Marlene Pagenrine, financial advisor at Edward Jones Investing Office, said college students should begin saving money as soon as possible.

“The more time you have and the younger you are, the better off you’ll be,”  Pagenrine said. “You don’t have to be 40, 50 or 60 and start thinking about ‘Where is my nest egg?’ If you can [save money] while in school, it’s an excellent thing to do. It will be a useful habit for the rest of your life.”

Cross said even though the scholarships are for the next academic year, they will aid students in the long run.

“Even though a scholarship might not put money in your pocket today,” Cross said. “By reducing [your] student loan debt, that scholarship will put a little more money in your pocket each month, once they start payments on those loans.”

The foundation starts to review the amounts available in its funds in January, Cross said.

“Many of the foundation’s donors contribute to a particular scholarship fund each year, and a few scholarships each year are only available that one time,” Cross said. “Other scholarships are established as large gifts to an endowed fund, in which the gift is invested, a portion of those investment earnings are awarded as scholarships.”

The foundation holds two major fundraising events each year — the Celebrating New Paltz Gala and the Scholarship Golf Tournament — which many local businesses, as well as faculty and staff, support. These events help to raise funds for the scholarship endowment.

“Increasing the amount and types of scholarships for SUNY New Paltz students is a major fundraising priority for the foundation,” Cross said.