The Bob & Renee Parsons Foundation will fund scholarships for hundreds of full-time University of Baltimore students who transfer to UBalt primarily from community colleges, including current or former members of the military. These need-based scholarships, totaling up to $5 million over five years, will help students close the financial gap between their federal Pell Grants and the cost of tuition and fees for their final two years of undergraduate education.
Bob Parsons—a Baltimore native, UBalt alumnus and Marine Corps Vietnam War veteran—has been a strong supporter of his alma mater and The Bob Parsons Scholarship Fund is the single largest donation to a scholarship program in the history of the University of Baltimore. This recent gift brings Parsons' total support to the University to more than $7 million since 2013.
"A college degree is a game changer. It opens the door to more career opportunities, higher paying jobs and a happier life," said Parsons. "I'm establishing this scholarship fund to help low-income students acquire a first-class college education and build a brighter future for themselves, their families and the city of Baltimore."
UBalt is known as an institution with both high employment rates and robust salaries for its graduates. The Bob Parsons Scholarship Fund will significantly reduce the financial burden that many students experience as they begin their careers, degree in hand.
"The Bob Parsons Scholarship Fund is a huge investment in our students, and our University," said UBalt President Kurt L. Schmoke. "For students to have a financial plan in hand as they work towards getting their diploma lifts a huge weight off their shoulders. These scholarships will be a breakthrough for many deserving students."
About The Bob & Renee Parsons Foundation
The Bob & Renee Parsons Foundation offers support to nonprofit organizations successfully working to empower, educate, nurture and nourish people during what is often the darkest time of their lives. Founded in 2012 by philanthropists and business leaders Bob and Renee Parsons to provide hope and life-changing assistance to the country's most vulnerable populations, The Bob & Renee Parsons Foundation offers critical funding at critical times to those in need. The Foundation's giving is driven by the core belief that all people—regardless of race, religion, roots, economic status, sexual orientation or gender identity—deserve access to quality healthcare, education and a safe place to call home. Follow @WeDealInHope on social media or visit TBRPF.org, to learn more about partner organizations and the important work being done in the community.