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Commissioners Approve Scholarship Plan

December 23rd, 2013 by WCBC Radio

The Allegany County commissioners have approved a plan that could add hundreds of thousands of dollars a year to scholarship funds for students at Allegany College of Maryland and Frostburg State University. According to an agreement signed with commissioners, 90 percent of each year’s funding for the county scholarship, which will be held in an Allegany County Opportunity Scholarship Fund, must be delved out to students. The remainder could be used to re-invest in the fund. The agreement is for five years and is renewable.  The structure and management of the Frostburg State University Foundation is different, with assets being pooled with those of other state universities and money being awarded to a number of university programs, according to the foundation’s 2012 annual report. It offered students more than $500,000 in scholarships for the reporting period. ACM President Cynthia Bambara…





 

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