ABAC Foundation President Melvin Merrill said it takes a minimum of $10,000 to create an endowed scholarship. An endowed scholarship is special in that it becomes a permanent annual award. The money used to fund the scholarship comes from earnings generated by the invested $10,000. This lump sum will remain invested and always produce funds for the scholarship.
Merrill said prior to becoming endowed, this scholarship was classified as expendable, meaning it was funded every year. The disadvantage of such scholarships is that a particular scholarship may not be awarded every year due to a lack of support. Having a scholarship become endowed ensures its continuation for future ABAC students.
The Moreno Family Migrant Scholarship will be awarded to migrant students who have engaged in agriculturally-related work that requires them to relocate with the seasons. Scholarship recipients must have a minimum 2.0 grade point average in high school and must be U.S. citizens. Dr. Raymond Moreno of Tifton created and has been a sponsor for the ABAC Migrant Scholarship through the ABAC Foundation since 1990.
Moreno said he is happy to help migrant students achieve their educational goals.
"I feel blessed, and I want to help others," Moreno said. "It makes me feel good to give back to the community. ABAC has done an excellent job of supporting students through scholarships. I can't think of a better investment than to provide students with the means of improving their lives through education. I'm glad to be a part of that process."
"Reaching the endowment level for this scholarship has been a dream of Dr. and Mrs. Moreno for several years," Merrill said. "The ABAC Foundation is pleased to see this scholarship become endowed. The Morenos are very active in the ABAC community and participate in many college events. They are also members of the President's Club."
Although the newly endowed scholarship will not be awarded until next year, a recipient has been chosen to receive the last ABAC Migrant Scholarship that will be awarded before the scholarship is changed to the Moreno Family Migrant Scholarship. Dalla Nascimento, a sophomore business administration major from Americus, was selected to receive the scholarship for 2001-02.
Rocio Cardenas, Director of CAMP (College Assistance Migrant Program) at ABAC, said Dalla is a great choice to receive the ABAC Migrant Scholarship.
"She is a dedicated and committed student who is determined to finish her education and serve as a role model for other migrant students," Cardenas said. "Overall, Dalla has proven to be an excellent leader by getting involved in ABAC's student body and representing other CAMP students. Dalla will appreciate the Migrant Scholarship and will exemplify everything that the scholarship represents."
For additional information about the Moreno Family Migrant Scholarship, contact ABAC's Office of Development and Alumni Relations at (229) 386-3265.
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