Sacred Heart Univ., Fonalledas Foundation set up $200K scholarship fund
This strategic alliance reinforces their commitment to the education, development and progress of Puerto Rico.
University of the Sacred Heart in San Juan and the Fonalledas Foundation have established the Fundación Fonalledas Scholarship Fund to assist disadvantaged students at the school in Santurce.
Each organization has contributed an initial $100,000, with both entities “committed to promoting access to higher education and leadership development among Puerto Rican youth,” representatives said.
The scholarship fund aims to support undergraduate students who exhibit academic excellence and a commitment to social issues, enabling them to continue their studies at “Sagrado,” as the university is affectionately known.
Eligibility for the scholarship includes maintaining a minimum 3.3 GPA, full-time enrollment and demonstrating financial need. Scholarship recipients will be chosen annually based on available funds and their commitment to community service and leadership in Puerto Rico.
“At Sagrado, our goal is for every student to receive the financial assistance they need to complete their education,” said university President Gilberto J. Marxuach-Torrós.
“We don’t want any student to discontinue their studies because they lack the necessary resources. Fonalledas Foundation shares this aspiration, and their donation brings us closer to making it a reality,” he added. “We thank the foundation, Don Jaime, Jaime Luis, and the entire Fonalledas family for their trust and support of our mission.”
The foundation’s $100,000 grant bolsters the university’s scholarship program, which currently supports more than 240 students. According to university officials, the retention rate for scholarship recipients exceeds 97%, “a very encouraging number compared to the low graduation rate of university students in Puerto Rico.”
Statistics from the Postsecondary Institutions Board reveal that graduation rates among leading private nonprofit universities in Puerto Rico for the academic year 2020-2021 varied between 28.4% and 45.4%. This rate is attributed to the financial support that enables students to focus on their academics rather than working multiple jobs to afford tuition and other expenses.
“We’re proud to formalize this agreement with Sacred Heart University to continue our mission of providing opportunities to students from low-income backgrounds to achieve their university dreams, which we have been carrying out at the Fonalledas Foundation for more than 60 years,” said Fonalledas Foundation President Jaime Fonalledas-Rubert.
“In Sacred Heart, we have identified a great ally, thanks to its commitment to serving those most in need, its innovation and adapting its curriculum with the priorities of today’s students,” he concluded.
