White House / Andrea Hanks
First Lady Melania Trump and Louisiana State University launched a $7.2 million permanent scholarship endowment Saturday for students who have experienced foster care, a fund expected to pay out about $288,000 a year indefinitely.
The MMR Fostering the Future Endowed Scholarship is funded by a $5 million commitment from construction firm MMR Group plus contributions from 75 fellow LSU Foundation donors – private money, not government funds, university said. MMR was founded and is led by LSU alumnus and former LSU football player James B. “Pepper” Rutland. An earlier pre-announcement this week put the commitment at $5 million; the total announced Saturday is $7.2 million.
The endowment adds permanent support on top of what students already receive: technology company Zoom is funding tuition, fees and books for 14 LSU scholars this fall, and the new fund adds flexibility to cover room and board, costs the university says can put college out of reach for students without a financial support system. The scholarships are part of the First Lady’s Fostering the Future initiative, which she said now supports 100 scholars at 26 universities this semester, including 14 at LSU and nine at Alabama.
“A great education does more than prepare someone for work life. It gives something no one can ever take away,” Mrs. Trump said in Baton Rouge, where her visit coincided with the LSU-Alabama football game and the initiative was promoted on jerseys and fan towels at the stadium, White House said.
JBizNews Desk | Baton Rouge, Louisiana
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