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Atlanta, GA | Posted: March 30, 2016
Lance Wallace
Summary Sentence:
The latest gift from the family foundation led by Penny and E. Roe Stamps IV, IE 1967, MS IE 1972, HON Ph.D. 2014, is transforming the President’s Scholarship Program at Georgia Tech once again.
Full Summary:
The latest gift from the family foundation led by Penny and E. Roe Stamps IV, IE 1967, MS IE 1972, HON Ph.D. 2014, is transforming the President’s Scholarship Program at Georgia Tech once again.
Tech TowerThe latest gift from the family foundation led by Penny and E. Roe Stamps IV, IE 1967, MS IE 1972, HON Ph.D. 2014, is transforming the President’s Scholarship Program at Georgia Tech once again.
In 2006, the Stamps Family Charitable Foundation launched the Stamps Leadership Scholars program inside the President’s Scholarship Program at Georgia Tech to support merit scholarships for the most promising undergraduate scholars from across the nation. Annual gifts provided by the Stamps Foundation are matched by the Institute, and the total funds provide the full cost of attendance and enrichment opportunities over four years for the 10 top freshmen admitted to Georgia Tech annually. Now, the Stamps Foundation is more than doubling its annual grant to ensure that every President’s Scholar will have the same opportunities provided under the current Stamps Leadership Scholars program.
This means that every student in the President’s Scholars Program — approximately 40 freshmen each year — will receive funding equal to the full cost of attendance for four years (including tuition, fees, books, full room and board, and a stipend for miscellaneous living expenses) plus a laptop and enrichment experiences such as outdoor leadership programs, research and internship opportunities, and at least one international experience, up to $15,000 over four years.
“This level of support for the Institute’s most prestigious scholarship program is nothing short of extraordinary,” said Institute President G.P “Bud” Peterson. “Roe and Penny have built a program that inspires our best undergraduate students to aim ever higher, and gives them opportunities to succeed beyond their greatest aspirations. We are grateful for their vision and their generosity in expanding the program’s reach to each and every President’s Scholar.”
The President’s Scholarship Program will be renamed the Stamps President’s Scholars Program in recognition of the Stamps’ philanthropy. Under the expanded program, the Institute will continue to provide scholarship support at the current President’s Scholarship level through income from permanent endowments established by individual donors and funding from institutional resources. Annual gifts from the Stamps Family Charitable Foundation will provide a competitive advantage by raising every President’s Scholarship to cover the full cost of attendance and providing enrichment opportunities. The Institute will continue to press forward with its ultimate goal to fully endow President’s Scholarships as they are currently defined, offsetting the funding required from Institute resources.
“Penny and I are thrilled to make this commitment to the future of a truly outstanding program,” said Roe Stamps. “And we have been fortunate to partner with Georgia Tech in providing funding every year. It is our hope that others will come forward and invest in permanent endowments to secure the Institute’s investment in perpetuity.” Penny Stamps added, “We have seen firsthand how these scholarships change the lives of students, families, and communities. It is an investment worth making.”
In 2006 Penny and Roe Stamps created merit scholarship programs for undergraduates at their alma maters – the University of Michigan and Georgia Tech. Since then, the Stamps Scholars community has grown into a nationwide network of colleges and universities. The Stamps Foundation awards multi-year scholarships to driven and talented student leaders to help them achieve their education and life goals.
As part of their scholarship, Stamps Scholars participate in activities to give back to their communities. Georgia Tech’s Stamps President’s Scholars will participate in the first Stamps National Day of Service on April 16, along with peers at 17 other colleges and universities around the country. Georgia Tech’s group will volunteer with the Atlanta Community Food Bank, working in its community garden.
