The National Society of Black Engineers has announced that Goldman Sachs Gives, the donor-advised fund of the investment bank Goldman Sachs, would help fund scholarships for 29 St. Lucian students to attend Illinois Institute of Technology this fall.
More than 250 St. Lucian students applied for an unprecedented 75 partial scholarships offered by the university. NSBE, Goldman Sachs Gives and the government of St. Lucia will help cover the balance of the fees not covered by IIT's grants.
"Getting these students enrolled at IIT represents true fulfillment of NSBE's mission," says NSBE National Chair Calvin Phelps, 23, the organization's top officer. "Partnerships like these reflect the direction we need to take." Phelps traveled to St. Lucia this month with NSBE Executive Director Carl B. Mack and NSBE National Parliamentarian Tasha Zephirin, to meet with the students and other entities involved with the scholarship effort.
"We thank Goldman Sachs Gives for its incredible generosity," says NSBE Executive Director Carl B. Mack, who initiated the scholarship effort and solicited the Goldman Sachs Gives donation under the direction of Chairman Phelps. "St. Lucia has many outstanding students, but because of a lack of financial resources, only 7 percent of its students attend universities. When the announcement was made through St. Lucia's media about the IIT scholarships, people's hopes soared."
The contributions from Goldman Sachs Gives were delivered from the accounts of individual partners. The support was organized by Goldman Sachs Co-CIO Steve Scopellite.
"Goldman Sachs has worked with the National Society of Black Engineers for many years to extend access to math and science education," says Scopellite. "This latest partnership will reach underserved students, opening opportunities for them as individuals and driving economic growth in their community."
"Illinois Institute of Technology is committed to preparing the next generation for undergraduate and advanced degrees in STEM (science, technology, engineering and mathematics) fields. Students who excel in these fields will be tomorrow's leaders in improving and advancing the human condition," says Gerald Doyle, Vice Provost for Undergraduate Admission and Financial Aid, who recently returned from a visit to St. Lucia. "We are delighted to work with the faculty and students of Sir Arthur Lewis Community College and RISE to create these educational opportunities for outstanding St. Lucian students, and look forward to these 29 students arriving on the IIT campus."
St. Lucia has a wealth of unused academic talent. Although many students there display academic excellence, most lack the financial resources to study at the university level. After Mack's first visit to the island in late June - hosted by a St. Lucian community service organization named RISE - NSBE sought resources to secure 10 scholarships for St. Lucians at U.S. universities. But within days, the Illinois Institute of Technology had offered 75 grants. The scholarships cover 70 percent of the students' fees.
The donation from Goldman Sachs Gives, and the St. Lucian government's offer of loan guarantees, provided the remaining financial pillars and has made a university education possible for 29 students.
"After seeing how hungry these students are for the education, it truly is a joy to help fulfill that dream," says Phelps.
Since launching its effort, "the National Society of Black Engineers, NSBE, has become a household name in Saint Lucia," reported The Voice, St. Lucia's largest newspaper, on July 13.
"This precedent-setting initiative, sparked by the aspirations and determination of the St. Lucian students, will develop into a long-term relationship between all parties," says Zephirin. "It is my hope that NSBE can help facilitate similar relationships between other institutions not only throughout the Caribbean but with other countries to benefit both current and future NSBE members."
