Fundación Ceiba grants $1.3M for scholarships at UPR-Mayagüez
The Fundación Ceiba, a nonprofit entity founded by Fernando Colón-Osorio, a graduate of the University of Puerto Rico’s Mayagüez Campus (known as the RUM), signed a philanthropy agreement through which he will donate $1.3 million to the institution to grant scholarships to School of Engineering students.
The initiative, called “Give Back, Creating a Community of Scholars & Entrepreneurs,” will last for 10 years. Its goal is to support students with financial need and stimulate innovation and economic growth in Puerto Rico.
“Although my origins are extremely modest, the education that the RUM provided me in the sixties allowed me to reach positions of high influence professionally and financially in the field of computers, worldwide,” said Colón-Osorio, who graduated from the college’s School of Electrical Engineering and Computers in 1970.
“Who would have imagined that a boy from humble origins would become vice president of the second largest company in the world of computers and would work hand in hand with the likes of that world, such as Ken Olsen, Robert Everett, Bob Galvin, Gordon Bell, Butler Lampson, Dave Cutler, and others?” he said.
“As such, then, it is my responsibility and that of all former students with economic capacity to give back to the College. This contribution hopes to grant students like me, in terms of scarce economic resources, the opportunity to transform their lives, and, therefore, transform Puerto Rico,” said Colón-Osorio.
He added that the scholarships will cover full tuition and all expenses associated with academic studies: courses, books, and materials, among others, as well as some stipends such as food and lodging. Financial aid will extend for a period of five years or less, from college entrance to graduation.
The scholarships will begin the next academic year, with two students: an Engineering freshman and a sophomore, who show economic need and the commitment to put the knowledge and experience they have acquired during their time at RUM to the island’s service.
Those selected will be awarded a $30,000 scholarship per year that includes a mentoring program sponsored by the Fundación Ceiba.
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