The University of Nevada, Las Vegas has announced a $12.62 million gift from the Engelstad Family Foundation to endow in perpetuity a student scholarship program that will eventually fund more than one hundred scholarships of up to $5,000 a year.
The gift will enable the Engelstad Scholars' Program to award full-tuition scholarships — renewable for up to four years — to UNLV students based on academic excellence, leadership, community service involvement, and financial need. As part of the program, Engelstad Scholars will be required to spend one hundred hours each academic year engaged in community service with selected local nonprofit organizations, including the Andre Agassi College Preparatory Academy, the Boys & Girls Clubs of America, and Three Square.
Approximately $125,000 has been set aside as start-up funding for twenty-five Engelstad scholarships starting in January 2010.
"This gift will have a profound impact on UNLV and our students. In these tough fiscal times when more students than ever are coming to our university, this generous gift will support students with strong academic credentials who need financial help to pursue their career dreams," said UNLV president Neal Smatresk. "The service requirement to support local select nonprofit organizations will also further enrich the academic experience of the Engelstad Scholars."