Legacy Foundation allocates $547500 for Baby Hunters Point scholarships and stipends

In a recent government meeting, city officials unveiled a comprehensive overview of the scholarship and living stipend fund budget aimed at supporting students from the Baby Hunters Point community. The proposed budget outlines a total allocation of $547,500 over five years, which includes $457,500 designated for scholarships and $50,000 for living stipends, alongside projected management fees of $40,000.

The Legacy Foundation, which spearheads this initiative, aims to break down financial barriers for local students pursuing post-secondary education. Their strategic plan emphasizes mobilization through scholarship funds and educational support, positioning the foundation as a leader in providing financial assistance to those in need.

To qualify for these scholarships, applicants must be residents of Baby Hunters Point, aged up to 30, and enrolled in a diploma, certificate, or degree program at accredited institutions, including colleges, universities, and trade schools. Importantly, applicants' family income must not exceed 100 percent of the HUD Area Median Income (AMI).

Each year, the program will distribute $91,500 for academic scholarships and $10,000 for living stipends. Eligible students pursuing diploma or certificate programs with a minimum GPA of 2.5 can receive scholarships ranging from $1,000 to $20,700, depending on their specific needs. For those aiming for four-year or graduate degrees, a $5,000 scholarship is available for students maintaining a GPA of 3.5 or higher.

Renewal of scholarships will require students to maintain a minimum GPA of 2.5 or equivalent passing grades, ensuring ongoing academic commitment. Additionally, students may receive a living stipend of either $500 or $1,000, depending on their program type.

This initiative, first announced in an RFP released on April 7, 2021, represents a significant investment in the educational futures of Baby Hunters Point students, reflecting the city’s commitment to fostering access to higher education and supporting community development. As the program unfolds, it promises to empower local youth and pave the way for a brighter future.