Rutgers-Newark Awarded $10 Million for Newark Scholars Program

Rutgers-Newark Awarded $10 Million for Newark Scholars Program

Rutgers University-Newark has announced a $10 million commitment from Prudential Financial to create a Prudential Scholars Program for Newark residents in its Honors Living-Learning Community (HLLC).

The largest gift in Rutgers-Newark history will provide cohorts of Newark residents studying full-time at the university with scholarships covering tuition, fees, and room and board, as well as access to resources that can help them build their entrepreneurial skills and social networks and become agents of change in the city. To help build awareness of the opportunity and recruit students, the university will partner with Newark City of Learning Collaborative's network of forty local organizations.

Rutgers–Newark's enrollment of Newark residents has jumped 87 percent since 2013, and half of the current two hundred and twenty HLLC Scholars are Newark residents. After a year of awareness building and recruitment, the first cohort of Prudential Scholars is expected to enroll in the fall of 2020.

"As a company founded and headquartered in Newark, we have a responsibility now more than ever to work together, as public-private partners, and provide local Newark students with access to the knowledge and resources they need to succeed. HLLC is that solution for the City of Newark, and the next generation of leaders that will come from our city," said Prudential vice chair Robert Falzon. "Prudential's support of this program helps us stay true to our mission of helping individuals achieve financial and social mobility, while also investing in the future workforce that the world needs."

"Prudential Financial, Rutgers-Newark Partner to Cultivate Newark Change Makers." Rutgers University-Newark Press Release 05/07/2019.