Cambridge Savings Bank (CSB), has launched the Cambridge Savings Scholarship Fund. The $100,000 grant for Scholarships and Small Hardships Awards will be available to students currently enrolled in their second year at Benjamin Franklin Cummings Institute of Technology.
As part of the process, CSB collaborated with Franklin Cummings Tech’s Chief Campaign Officer, Courtney Roy-Branigan, to establish appropriate criteria for the scholarship fund. This marks the inaugural year of the Cambridge Savings Scholarship Fund program, an initiative that the bank has intentionally structured to benefit Franklin Cummings Tech students in need of financial support to complete a degree.
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How the scholarship will be allocated
Franklin Cummings Tech will allocate 90% of the funding to cover the direct educational expenses for eligible students. These expenses include tuition, mandatory fees, and other academic-related expenses, including the costs of required textbooks and other course materials, technology, tools, and equipment.
The remaining 10% of the funds will be directed toward student hardship and other challenges associated with pursuing a degree in higher education. Ultimately, the scholarship funds will allow Franklin Cummings Tech to maintain its holistic, supportive learning environment for its diverse student population and create economic and career opportunities for all students.
Aisha Francis, PhD, President and CEO of Franklin Cummings Tech, said: “Franklin Cummings Tech is committed to purposefully aiding students who have encountered financial burdens. We extend our gratitude to valued partners such as Cambridge Savings Bank for their support in these important initiatives,” “Far too often, hard-working individuals are forced to forgo their pursuit of higher education due to financial concerns. The Cambridge Savings Bank scholarship fund aims to alleviate this burden and foster inclusion in our education system.”
Linda Grace, Chief Human Resources Officer at Cambridge Savings Bank, commented: “Supporting our communities is what Cambridge Savings Bank is all about and that starts with investing in local education programs. Designed to empower the talented and capable students at Franklin Cummings Tech, this initiative offers students access to vital resources, enabling them to afford the education they have earned and deserve. We’re proud to contribute to these individuals’ promising futures and hope to aid in cultivating a diverse pool of talent poised to make a meaningful contribution to the greater Boston region for years to come.”
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