GROVE CITY, Pa. (WKBN) – Grove City college announced Tuesday that it will increase financial aid awards to students this fall to help families navigating college costs in a season of uncertainty caused by the coronavirus pandemic.
Grove City College will invest an additional amount of nearly $2.5 million from its endowment and other gifts to increase awards for the 2020-2021 academic year.
Sixty-six percent of Grove City college’s 2,300 students receive need- or merit-based financial aid. All need-based aid recipients should see a 20% increase in their scholarship amounts under the plan.
The total amount of funded scholarships will exceed $10 million.
“Ordinarily, our low tuition and extensive financial aid make a Grove City College education distinctively affordable, but these are not ordinary times,” said President Paul J. McNulty. “Thanks to the remarkable generosity of the College’s faithful supporters, we will make the College even more affordable for families facing financial hardship.”
The College will also make additional funds available to help students and families experiencing recent economic hardship. The special consideration scholarships will help students that might otherwise not be able to enroll.
With a rise in the unemployment rate and a decline in personal incomes, McNulty said he anticipates an increase in these types of situations and is preparing to support students in the new academic year.
A commitment of this level is an unprecedented initiative for Grove City College, McNulty said.
Grove City College does not accept federal funding, including student loans and grants and is not pursuing emergency funding from the CARES Act, which is allocating money to help colleges and universities.