With the rise in tuition costs, Wake Forest University (WFU) looked to develop an opportunity for all students to be able to attend the school without the financial burden.
The establishment of the Magnolia Scholars program created an opportunity for first-generation students to receive financial aid, mentorship and college transition assistance.
Under the program, first-generation is defined as an individual whose parents or guardians did not graduate from a four-year accredited university.
Out of an application pool of around 100 students, 30 are chosen. The program chooses students from various interdisciplinary fields and diverse geographical locations. The first cohort of the Magnolia Scholars program was launched in 2009.
“The Magnolia Scholars program is filled with intelligent students who have a big impact on [the] Wake Forest campus and the Winston-Salem community,” said Stevenson Cerisier, a sophomore and Magnolia Scholar at WFU. “It is filled with faculty and staff who put in an effort to educate and provide support to us when needed. It is an amazing and enriching program.”
The amount of money provided is based on both merit and need. The original program started off supporting students with a maximum loan cap of $4,000. However, it has since become larger due to recent donations.
In 2018, an anonymous donor gifted the Magnolia Scholars program $10 million. With the funding, an additional $4,000 in annual awards was provided to the 120 scholars during the fall of 2018. For the Magnolia Scholars Class of 2018, their four-year undergraduate debt was reduced by $16,000, according to the program’s website.
