CINCINNATI -- A recommendation by the University of Cincinnati President Santa J. Ono has made way for a new scholarship program.
In April, Ono suggested to the Board of Trustees that his presidential residence be put up for sale in order to create a program for students.
Through the $160,000 sale, the Neihoff Presidential Scholarship Endowment (NPSE) is expected to generate scholarship dollars of around $3 million, or $160,000 per year.
"College affordability is a top priority for families and students. I want us to think in new ways to do whatever we can to help students achieve their dream of a college education," said Ono.
Patti and Buck Niehoff, who had donated the Edgecliff Point residence to UC, supported the idea of selling it to create scholarships.
"President Ono's decision not to live in an official university residence and to convert it into scholarships is a very generous act on his part," said Buck Niehoff. "It is another example of how he puts students first in everything he does at UC."
The first awards from the fund will be granted for the 2014-2015 academic year. One award each year will be reserved for a graduate student in history, reflecting the Niehoff family's deep regard for history.
Student do not need to apply for the awards. They will be selected based on their academic accomplishments and financial need as reported on their financial aid form.