The University of Professional Studies (UPSA) on Wednesday celebrated the first year anniversary of its Vice Chancellor’s Endowment Fund (VCEF).
The VCEF was established in 2017 to aid brilliant but needy students who cannot afford higher education. The board of trustees of the VCEF was inaugurated on 19th October, 2017.
The goal of the Vice Chancellor’s Endowment Fund is to improve access to University Education in Ghana by enabling bright and needy students receive free undergraduate education at UPSA.
According to the Vice Chancellor of the University of Professional Studies, Prof. Abednego Amartey, last year the school was able to give scholarships to about 3 or 4 students, however this year, out of the 43 students that applied for scholarship, the Fund was able to award 20 students scholarship.
He says “We tend to have large number of our students who either defer their courses or they drop out just because they are unable to pay their fees, so the university thought it wise that why don’t we have an endowment fund to support brilliant but needy students, so that is how we started, and this is the first anniversary so all the various stakeholders have come out to contribute to help the needy students”
Professor Amartey expressed the hope that in the years to come, many more students will be awarded scholarships.
“We awarded scholarships to 20 of our students, we know it’s the beginning so we expect it to be bigger and better in the coming years”.
He also appealed to individuals to help the university educate needy students.
“We are appealing to spirited individuals to come and help us educate the students of this country. Education is a level up, so once we are able to educate one person, you are sure that, that is the surest way of dealing with poverty in this country”.
Also at the event was the Board Chairman of the VCEF, and a former deputy governor of the Bank of Ghana, Millison Narh, who lauded the initiative of the university. He also also stated that if the funds are increased, then more students will be awarded scholarships.
“I think the initiative that this university has gathered is laudable, we started with one person last year, and today we have awarded scholarships to 20 people, come next year if we able to increase the fund, then we should be able to increase the numbers.”
According to the VCEF, the total funds raised since its inception is GHC 333,000.00, which has been invested in a 91 day fixed deposit account, and the total interest received over the period on the investment of the GHC 333,000.00 is GHC 65,219.37.
The Board of VCEF hopes to increase the quantum of scholarships awards next year to take care of more needy students.
By: Rita Mensah/citinewsroom.com/Ghana