NSEDC Board of Directors votes to increase scholarships to $2,500 a semester
NOME— The Norton Sound Economic Development Corporation (NSEDC) Board of Directors (Board) again voted to increase the amount qualified Norton Sound residents receive when seeking higher education. Beginning this semester, qualifying students will receive up to $2,500 in support of their academic and career pursuits, an increase from the $2,250 that was put in place for 2014. Member community residents may now receive $7,500 a year in NSEDC scholarships if they pursue a full-time schedule through spring, summer and fall semesters.
“Many of our staff were recipients of the NSEDC scholarship and as a company, we are doing very well,” NSEDC Board Member Don Stiles said when making the motion to increase the amount at the December meeting. “The same can be said at most regional corporations.” The Board voted unanimously in favor of the scholarships increase, which takes effect this semester. “Our scholarships have an impact, helping to cultivate an educated workforce with in-region expertise,” Stiles said of the program. “Through supporting and encouraging our greatest resource—the people of the Norton Sound region—our scholarship program is one of the strongest ways we fulfill our mission at NSEDC.”
From its start, NSEDC has placed a high value on helping member community residents gain access to education and training. This year’s boost in the scholarship amount comes as college and university tuition rates increase faster than inflation. “Fortunately, with our investments and revenue, our robust scholarship program stays in line with, or ahead of, tuition inflation costs,” Board Chairman Dan Harrelson said. “With our success, it’s important to respond to financial pressures and support the career goals of Norton Sound residents. By doing so, our residents gain tools and expertise which, in return, help strengthen our member communities.”
The NSEDC scholarship program began in 1992 when $30,000 was allocated toward the scholarship fund. Since inception, $7.4 million has been awarded to member community residents through this program. In 2014, NSEDC awarded scholarships to 276 students, totaling nearly $800,000. NSEDC is now staged to well surpass $8 million in total scholarships awarded by the end of 2015.
For more information on NSEDC’s scholarship program, please visit www.nsedc.com/eet online, or call EET Director Jerry Ivanoff at (800) 385-3190.