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Friday, May 12, 2006

Albany State gets $100,000 for scholarships

Despite shrinking and fluctuating federal and state funding, at least Albany State University knows where $100,000 for scholarships and educational materials is coming from: Security Bank and Trust Company.

ASU President Everette Freeman and Security Bank President and CEO Mark Lane announced Wednesday a five-year partnership that will net the university $20,000 a year.

"Security Bank's very generous contribution to Albany State is an investment in the youth of our community, and consequently, an investment in the future of our community," Freeman said.

The first check will go toward, among other things, the National Youth Sports Program, a summer athletic and academic program, which has lost most of its federal funding for this summer.

ASU spokesman Carlton Fletcher said the program might not receive the same $5,000 it's getting this year in the subsequent four years.

Lane, in donating the money, stipulated that not all the money go into scholarships or scholarship programs, Fletcher said.

University System of Georgia Chancellor Erroll Davis, in Albany last month to visit Albany State and Darton College, said the funding pot "is not going to grow as fast as it needs," so schools will need to seek other funding sources, such as private donors.

"Dwindling financial resources are impacting institutions of higher learning across our state and nation," Freeman said. "Yet even greater demands are being placed on colleges and universities. Private sector support such as the money pledged by Security Bank will help ASU not just keep, but hone, its competitive edge as it continues its mission of producing high-achieving, socially-conscious and enterprising citizens of the world."

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