BY Ivan Cazares
The East Los Angeles College Foundation has $113,000 available in scholarships for Elans this semester.
The deadline for applying is Oct. 3, however, a $1.2 million fund endowment made by several donors allows the foundation to provide scholarships every semester.
A fund endowment is like a trust fund, with the difference being that an institution has access to the money instead of one individual.
The foundation’s board of directors are responsible for managing these funds and making sure they are used to benefit ELAC.
Recipients must have a minimum 3.0 GPA and must be enrolled full time.
They must have completed 24 degree applicable units and be receiving the Board of Governors Fee Waiver.
Some scholarships require a specific major.
More details and a link to the application is available at elac-foundation.org.
During the 2014 fall semester, 123 students received scholarships and 267 during the spring.
A total of $183,950 were awarded during both semesters.
The foundation developed $109,201 through fundraising and $60,090 through social enterprise during the 2014-2015 school year.
These funds are available for ELAC clubs and activities.
Clubs and professors can request funds for field trips and other school activities through the foundation, or ASU.
“The end game is to help students. We want to give students the opportunity to not work that extra job and focus on their studies,” Executive Director of the ELAC Foundation Paul De La Cerda said.
“The students that apply for scholarships are usually the ones that are more involved in school activities. It’s an investment in leadership,” De La Cerda said.
According to the College Board, the average cost of tuition and fees in community colleges increased from $1,642 in 2000-2001 to $3,337 in 2014-2015.
The average cost of four-year public schools went from $3,500 to $9,139 and the average cost of private nonprofit universities went from $16,072 to $31,231 in the same timespan.
An over the phone survey conducted on 1,500 Americans from across the country, by the Gallup Organization showed that 61 percent of Americans think education is available for those who need it after high school, however, 79 percent think it isn’t affordable for everyone.
The Institute of College Access and Success says that the average college graduate accumulates $24,000 in student loans by the time they graduate.
The Foundation is a non-profit organization that has been serving the community for over 40 years.
One of its longest standing programs is the Jaime Escalante Math and Science program.
The program is meant to prepare inner city disadvantaged youths (primarily Latinos) to enter and succeed in mathematics-based college and university programs.
The foundation will host the third annual Executive Latino Award Banquet in Oct.
The banquet will expose leaders in the surrounding community to the campus, with the purpose of attracting future investments and partners.
“We are looking for people who believe in our mission and are willing to donate time and effort. This isn’t a paid position,” De La Cerda said.