Scholarships target needy Philly students

Needy Philadelphia public school graduates who want to attend Pennsylvania State University could get a boost from a new scholarship fund established by a Philadelphia area philanthropist.

Brook J. Lenfest has donated $7 million to establish the endowment fund, the university announced this week. The gift expands on existing scholarship support that Lenfest has provided to Philadelphia public school students attending Penn State for about 10 years.

Students who attend a Mastery Charter School or participate in the Philadelphia Futures mentoring program will get first preference, followed by graduates of other Philadelphia public high schools, the university said.

Twenty-five new students a year will receive funds; within four years, more than 100 students will be on the scholarship simultaneously, with seven spots conserved annually for students who need a fifth year, said Wil Del Pilar, Penn State's director of development for educational equity.

To qualify, students must be eligible for the federal Pell grant program, which serves low income families. Students can be enrolled in any major.

"This Trustee Scholarship represents an incredible commitment to this critical student population," Penn State President Eric J. Barron said in a prepared statement. "Brook Lenfest has been a longtime partner with Penn State in providing educational opportunity for students from the Philadelphia area, and his new scholarship will ensure that many talented students will not be turned away from their college dreams because of financial circumstances."

The university will provide a 10 percent annual match on the $7 million pledge — that's $700,000 each year, increasing the amount of available funds for scholarships, the university said.

"Brook made an incredible investment in this population of students from Philadelphia and Penn State is making a commitment as well," Del Pilar said.

The fund will dole out over $1 million annually once more than 100 scholars are enrolled, he said. The scholarship is expected to cover about 40 percent of tuition, depending on a student's need, with federal and state aid paying for the majority of the rest, he said.

Tuition, fees and room and board for in-state students ran $26,362 last school year. Tuition for 2014-15 hasn't been set yet.

The university will work with the high schools to select the scholarship students. In addition to financial need, students also must demonstrate resilience, Del Pilar said.

For the last decade, Lenfest has provided scholarship funds for 15 students a year. Currently 62 Lenfest scholars attend Penn State and receive etra academic and counseling support, Del Pilar said.

"The new program is a bit more formalized, with the creation of the endowment," Del Pilar said, and it nearly doubles the number of students who will be served. "It has really been successful."

An impressive 86.7 percent of Lenfest scholars graduate within five years, Del Pilar said. Twelve Lenfest scholarship graduates are enrolled in doctoral programs, while another became a prestigious Fulbright scholar.

"No hardworking student should be prevented from receiving a college degree because they cannot pay, and that is why I am partnering with Penn State to provide financial opportunity to some of the most financially challenged students in Pennsylvania," Lenfest said in prepared statement. "Many Philadelphia students have the aptitude to receive a four-year degree but simply cannot afford it. The Trustee Matching Scholarship Program presented a great opportunity to help this student population by leveraging funds from the University. I hope together we can increase the successful outcomes and help many more of these students succeed in the future."

Lenfest is chairman of NetCarrier Inc., a communications service provider, and a real estate investor and developer. He's director of philanthropy for LGL Partners, a private family office and investment firm. Lenfest also provides scholarship funds to students attending Temple University.