Donors support Penn State New Kensington students
Some local donors have made sure that worthy Penn State New Kensington students will continue to get a quality education.
In the past few months, the Upper Burrell college has received three different commitments to start scholarship funds of at least $50,000.
“These are Trustee Scholarships,” said Donna Speer, PSNK's director of development. “It's sponsored by the board of trustees.”
Speer said Penn State recently announced that it will double the normal amount the campus can draw on a scholarship.
“You can draw 5 percent a year from the fund for scholarships,” Speer said. “The university usually matches that, but now they're going to double it.”
Speer said the university draws the endowment's market value, about 4.5 percent.
“So, you can give a student about 14 percent,” she said.
On an endowment of $50,000, instead of receiving a $5,000 scholarship, it allows a student to get $7,000.
Speer said that those who make the donations can pay it off during five years, but still receive the university's doubled match.
For Dr. Karl Salatka and his wife, Jennifer, donating to the scholarship fund made sense.
“I think it specifically helps the community,” said Karl Salatka, a retired surgeon and Lower Burrell resident. “In general, I think it helps the country.
“Penn State has offered the opportunity to match funds to our funds,” he said. “So, we get a multiplier effect.
“That's more money brought in to support local students, the campus and our community.”
Speer said those who donate scholarships can put one provision on how their money is given out. The Salatkas are asking that their scholarship be awarded to students who come from underprivileged backgrounds.
Dr. Jim and Lynn Ramage of Manor Township are requesting that their scholarship be given to a student who majors in a STEM (Science Technology Engineering Mathematics) program.
“It changed my whole life by getting an education,” said Jim Ramage, a retired veterinarian. “I never thought that (going to college) would occur.
“My father died at 53, my mother was a waitress till she was 75,” said Ramage, a 1963 graduate of the school. “I worked in a mill after the service, and decided it wasn't the way I wanted to spend my life. They had the G.I. Bill, and decided I wanted to use it.
“Applying to Penn State, they had scholarship money for me and other people like me who couldn't afford the whole cost.”
Ramage said it was important for him and his wife, who sent both of their children to Penn State, to help other students.
“I have friends that will hold off and leave (money) in their will, but I want to be able to see it be put to use,” he said. “I'd rather enjoy the student's efforts.”
Alum gives back
Ray Mastre, the head of the school's Advisory Board, has drawn money from various places to raise as much as possible for his scholarship.
A 2004 graduate from Penn State New Kensington, with a degree in information science technology, Mastre works for PricewaterhouseCoopers, or PWC.
“Whatever I donated, PWC matches,” said Mastre, 32, from his hotel room in Barcelona, where he is on business. “I also got a lot of donations from Advisory Board members.
“Add that to the match by the university, and we were able to generate a lot of money.”Mastre said his endowment will total about $80,000.
“I went to Penn State New Kensington as a student, when it went from two-year to four-year institution,” said the Plum native, who calls New York City home.
Mastre said it's important to him to help students finish their degrees at PSNK, so his scholarship is designed to go to students who are entering their junior or senior year.
“I wasn't in a position to move away and live on campus,” he said. “I wanted to commute somewhere that could give me a quality education.”
Mastre said scholarships played a major role in his attending Penn State.
“I come from a single-parent home and wasn't in a position to afford to go to school,” he said. “I was a caddy at Oakmont Country Club and was awarded the Stanley Druckenmiller Foundation Scholarship.”
Druckenmiller is the founder of Duquesne Capital. His net worth is more than $2.8 billion, according to Forbes Magazine.
“(The scholarship) gave me the means to attend Penn State,” he said. “I met Stanley Druckenmiller a couple times and he told me he was glad to help me, but encouraged me to pass it on.
“So, I'm trying to do that.”
R.A. Monti is a freelance reporter for Trib Total Media.
Show commenting policy
TribLive commenting policy
You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.
We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.
While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.
We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers.
We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.
We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.
We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.
We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.
- Parks woman accused of burglarizing house
- Leechburg Area replaces standout softball coach, who was cited for shoving student
- Roaring Run Watershed Association pays fitting tribute to late naturalist Rau
- South Buffalo planning commission signs off on revised gas compressor plan
- Harmar police make 2 drug arrests as part of crackdown on crime
- Saxonburg man jailed for burning boy, 7
- Cheswick councilman resigns after missing 16 months of meetings
- Free lunch for Highlands, New Ken schools eliminates stigma
- Lower Burrell teen uses operatic gift to support Alzheimer’s charity
- Deer Lakes teachers authorize strike if contract not reached by Christmas
- Apollo-Ridge School District to list tax delinquents on website