Release Date: March 18, 2009
BUFFALO, N.Y. -- In an effort to stem the migration in recent years of many young, talented professionals from Western New York, the Prentice Family Foundation has given a significant gift to help UB students graduate and establish their careers here in the eight-county region.
The Prentice Family Foundation's Western New York Prosperity Scholarship Program is designed to help build a highly educated, innovative and experienced professional workforce prepared to contribute to the economic growth and sustainability of the area. These scholarships will enable qualified juniors, seniors and graduate students in the UB schools of Medicine and Biomedical Sciences, Engineering and Applied Sciences, and Management to become better acquainted with career possibilities with the region's businesses and industries.
More than 20 scholarships are expected to be granted, each with a maximum award of $25,000. The scholarships will cover students' unmet costs to attend UB during the academic year and fund summer internships at leading companies and industries throughout the region.
"Through this gift, my family hopes to make a multi-generational impact on Western New York, helping to transform it into a 21st-century knowledge economy," said Bryant H. Prentice III, president of the Prentice Family Foundation and chairman of the board of Bryant & Stratton College. "We will reach out to those students who plan to enter careers that will expand a well-educated workforce, bringing with them the knowledge, acumen and ambition necessary to grow our region's economy."
The Western New York Prosperity Scholars will learn how to navigate the professional arena through participation in pre-internship preparation-and-placement programs, pre-professional networking events and career and academic counseling. They also will receive advice on admission to graduate school.
Provost Satish K. Tripathi noted that the scholarships demonstrate the Prentice family's commitment to Western New York, as well as its recognition of UB as a valuable partner in the region.
"We are absolutely thrilled to receive a gift of this magnitude for our students," Tripathi said. "Because of this innovative community-building program, our Western New York Prosperity Scholars will have the means to contribute to the growth and sustainability of our region. President Simpson and I, along with the deans of the schools of management, medicine and engineering, extend our sincerest thanks and appreciation to the Prentice family for their generous gift to our UB students."
The 12-month scholarships will provide financial assistance to qualified UB students studying biomedical sciences, management and engineering who have demonstrated financial need and have educational, civic and professional plans that link directly to the economic growth and prosperity of the region. To be eligible for these scholarships, undergraduates must be at least junior-level at the time of the award, have earned a cumulative grade-point average of 3.0 or higher and have a demonstrated financial need via submission of the FAFSA form.
Graduate students must be in excellent academic standing and have a demonstrated financial need via submission of the FAFSA form.
Applications must be submitted by May 1. For more information, go to http://wnyprosperityscholars.buffalo.edu.
The Wall Street Journal has ranked the UB School of Management No. 9 in the nation among schools with strong regional recruiting bases. In addition, BusinessWeek has ranked the school as one of the country's top 5 business schools for the fastest return on MBA investment, and Forbes cited it as one of the best business schools in the U.S. for the return on investment it provides MBA graduates. For more information about the UB School of Management, visit mgt.buffalo.edu.
The University at Buffalo is a premier research-intensive public university, a flagship institution in the State University of New York system that is its largest and most comprehensive campus. UB's more than 28,000 students pursue their academic interests through more than 300 undergraduate, graduate and professional degree programs. Founded in 1846, the University at Buffalo is a member of the Association of American Universities.