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Caribbean Life, AUG. 27-SEPT. 2, 2021 19
One of the greatest ways
individuals and businesses
can help generations of college
students is through
endowed scholarships. By
creating an endowed scholarship,
donors can help alleviate
some of the financial
burdens of college for one
or more students. In turn,
scholarship recipients use
their college knowledge and
skills to make an economic
difference in their households
and a positive impact
in their communities.
The difference between
an endowed scholarship
and a traditional scholarship
is simple. In the case of
a conventional scholarship,
a certain amount of money
is set aside to fund a scholarship
for a period of time.
The scholarship is usually
a one-time donation rather
than an annual commitment.
On the other hand,
an endowed scholarship
is meant to be permanent,
so donated money is never
spent. An endowed scholarship
is established by a donor
and invested with the
college’s endowment. The
college awards the fund
indefinitely, spending only
the interest accrued in a
given year, not the principal.
We are grateful that Dr.
Catherine Ma, endowed
scholarship donor and a
tenured associate professor
of psychology at Kingsborough
Community College
(KCC), has given the College
this gift that will keep
on giving. Her service to
the diverse student body of
KCC and the personal sacrifices
made by her grandparents
inspired Dr. Ma to
create the Yuet Chun & Tai
Yee Ma Memorial Endowment
Fund. Named after
her grandparents, Dr. Ma
awarded the first scholarship
from the fund in 2018.
“This is something I was
interested in doing because
an endowed scholarship
will last into perpetuity.
Long after I’m gone, it will
still be here to help Kingsborough
students. That’s
what I wanted,” said Dr.
Ma, who raised $10,000 in
three years, with donations
from family and friends, to
set up the fund. “I’m happy
to be able to do something,
especially for our Kingsborough
students. I’m an
immigrant, a first-generation
college graduate, and
I see a lot of myself in our
college students. To be able
to do something as small as
this inspires other people
that every little bit helps.”
Dr. Ma, a board member
of the Asian American
/ Asian Research Institute
- City University of New
York, noted that the past
year’s major events, from
the pandemic to anti-Asian
hate crimes, highlighted
ongoing systemic discrimination
and inequality in
the United States. For Dr.
Ma, these events reinforced
the vital need to help underrepresented
students in
financial need.
“I totally believe that it’s
so important right now just
to support some of our most
vulnerable students,” she
said, adding that she also
created a psychology of immigration
course at KCC to
teach students about “what
this longstanding history
of discrimination/racism
has done and to challenge a
lot of the negative rhetoric
about immigrants and immigration.”
In addition to raising
money for a fund like Dr.
Ma, you may choose to set
up an endowment by remembering
a college in
your will and make a bequest
to establish an endowment
in the future.
Dr. Claudia V. Schrader
is president of Kingsborough
Community College (KCC),
a 72-acre academic oasis
located in beautiful
Manhattan Beach, Brooklyn.
For more information
about supporting a KCC
student, visit www.kbcc.
cuny.edu/colladvancement/
waystosupportkcc.html.
EDUCAT I O N PROFI LE
Endowed Scholarships: A lasting legacy for future generations of students
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Y0114_21_123303_I_C_6042 10/01/2020
510637MUSENMUB_6042
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