ENGLEWOOD, Colo.--(BUSINESS WIRE)--The Western Union Foundation is now accepting applications for its WU Scholars Program* for the second year in a row. This global scholarship program is focused on supporting students around the world who are pursuing a post-secondary education in the areas of science, technology, engineering, mathematics (STEM), business and entrepreneurship.
“Education opens the door to economic opportunity,” said Jacqueline Molnar, Western Union Foundation Board Chair. “The Western Union Foundation is committed to helping people all over the world gain access to job-focused education, which in turn can translate into better careers and better pay.”
Students are selected as WU Scholars based on their accomplishments and personal goals related to the program’s three pillars: perseverance, aspiration, and community. Students receive USD $2,500 (or the local currency equivalent) as a contribution toward their tuition or school fees at the accredited post-secondary institution where they are enrolled. To apply, students must complete the application, available at www.WUScholars.org. Applications will be accepted through April 30, 2018 at 11:59pm EDT. Selected applicants will be notified in July. Click here to watch the WU Scholars video.
The WU Scholars Program is part of the Western Union Foundation’s mission to connect underserved populations to the global economy through education. The Foundation works to advance educational opportunities for women, youth, migrants and refugees through funding NGOs, thought leadership, employee donations and volunteerism. According to the UNESCO Global Education Monitoring Report, education increases earnings by roughly 10 percent per each additional year of schooling.1 Research has also shown that students who graduate with STEM or business degrees receive starting salaries that are on average higher than their non-STEM or business peers.2
“We recognize that education is one of the most powerful tools we can help provide to people across the globe,” said Elizabeth Roscoe, Executive Director of the Western Union Foundation. “Last year’s WU Scholars class was spectacular, and we are very excited to see the caliber of applicants this year who aim to use their education to make a positive impact in their communities and beyond.”
In 2017, the WU Scholars Program awarded 174 scholarships to post-secondary students in 65 countries. Sixty-eight percent of recipients were female, and the scholars represented more than 150 colleges and universities across the globe. Selected students from last year aim to help solve major global challenges, including building better infrastructure and improving access to technology.
As part of the WU Scholars program, the Western Union Foundation has pledged to award a minimum of 100 scholarships, along with Western Union Agent contributions. Western Union Agents and business partners can sponsor students in their region and receive a dollar-for-dollar contribution matched by the Western Union Foundation. Agent sponsors for the 2018 program include: GraceKennedy Financial Services, Vimenca, Aman Exchange, Community Financial Service Centers and Pay-O-Matic. In 2017, Agents contributed more than USD $200,000 to the WU Scholars program.
* The Program is administered and operated by the Institute of
International Education, Inc. (IIE), a US private not-for-profit leader
in the international exchange of people and ideas.
1 UNESCO Global Education Monitoring Report, 2016
2 U.S. Bureau of Labor Statistics, January 2017
About the Western Union Foundation
The Western Union Foundation believes that education is one of the surest pathways to economic opportunity. Through collaborations with NGOs around the world, the Foundation has embarked on a five-year mission to connect 50,000 migrants, refugees, women and young people to the global economy through demand-driven skills training and workforce enablement programs by 2020. The Foundation also offers a global scholarship program that helps put a post-secondary education in reach for in-need students studying in the STEM fields and business. To date, more than $113 million has been given to fund projects affecting more than 800,000 people in 137 countries across the globe, including humanitarian relief for communities in crisis. The Western Union Foundation is a separate charitable corporation that is tax-exempt under §501(c)(3) of the US Internal Revenue Code, and receives support from The Western Union Company, its employees, agents and business partners. Contributions to the Foundation are tax-deductible for US income tax purposes. To learn more, visit www.westernunionfoundation.org or follow us on Twitter @TheWUFoundation.