Applications for STEM-focused scholarships have jumped 40% since the federal government announced a new dollar-for-dollar matching program for private scholarship funds. The initiative effectively doubles the value of qualifying awards for students pursuing degrees in science, technology, engineering, and mathematics.
The matching program covers awards up to $10,000 per academic year and is available to students at accredited two-year and four-year institutions. First-generation college students receive priority consideration, and the funds can be applied to tuition, fees, and required course materials.
Scholarship organizations report being overwhelmed by the response but view the surge as a positive signal. Several major foundations are accelerating their fundraising efforts to take full advantage of the federal match before the program's initial allocation is exhausted.
