TOMS RIVER – OceanFirst Foundation has announced it has reached an important milestone in its local philanthropy with $1 million in scholarship grants awarded in five years to its partners in the program – Brookdale Community College, Georgian Court University, Monmouth University and Ocean County College.
Each college/university received $50,000 to $200,000 per year for five years to provide scholarship assistance to incoming freshman students from shore-area high schools with a total of 140 students benefiting each year.
Scholarship recipients attending the community colleges each received $1,000 awards and the scholarship recipients attending the universities each received $2,500 awards.
Selection decisions are made solely by each participating school completely independent of OceanFirst Foundation and OceanFirst Bank.
“This year marks a major milestone for the OceanFirst Scholarship Program as we reach $1 million in scholarships awarded to 700 students in just five years,” said Katherine Durante, executive director of OceanFirst Foundation. “We remain committed to helping Jersey Shore families face the financial challenges presented by the escalating cost of higher education.
“This year’s scholarship grants are going to help cover the cost of tuition, books or other school expenses for 140 new freshman students that arrived on campus this month at our partner colleges and universities,” Durante said.
The foundation provides grants to organizations that meet community needs within the OceanFirst market area. Since its inception, OceanFirst Foundation has contributed in excess of $25 million to more than 600 local charities and schools in Ocean, Monmouth and Middlesex counties that meet needs such as health and wellness, housing, youth development and education and improving quality of life.
