Sealaska's growing financial success has allowed the Board of Directors to add $10 million to the scholarship endowment fund.
Sealaska’s scholarship program is getting a $10 million boost–the first increase to the Scholarship Endowment Fund since its inception.
Earlier this year, Sealaska asked our shareholders where weshould focus our funding efforts with our financial success. Education was the primary issue by a two-to-one margin.
Here are some of your responses
“Education is important, and for us to continue to the next generations, we need to have our children educated.”
“We should have scholarships that promote our youths’ ability and the opportunity to stay in Alaska and continue Sealaska’s future.”
Sealaska began its scholarship program in 1981. The average yearly cost to attend college at that time was around $3500. A scholarship from Sealaska helped cover a significant portion of that tuition. Now, a year at college costs on average $28,000. Sealaska recognizes the cost of education has been growing exponentially, and we want our scholarship program to keep pace. To date, Sealaska has awarded approximately 11,000 scholarships totaling $16.4 million.
Helping to fund shareholder education doesn’t stop with college. College is just one path people take toward a career. Vocational and trade schools, job training certificates and endorsements are all options Sealaska is considering funding.
Sealaska’s original investment in the Scholarship Endowment totaled $2.5 million. Due in part to inflation proofing, theadditional funds bring the total to $15.7 million. Scholarships are paid from the earnings from the fund along with timber revenue.
Our communities and businesses need leaders trained with the necessary education, skills and experience. Scholarships are just one way to help our people realize their full potential and pursue new opportunities.