Holy Names University Seeks Approval to Continue Scholarships. Part of Long-Term Plan to Assist Students from Local Communities
Holy Names University Trustees petition court to continue to use endowment to support transfer students; part of long-term plan to continue scholarships to students from local communities
OAKLAND, Calif., August 24, 2023 – (Exclusive to ZENNIEREPORT.com) Holy Names University has petitioned a state court to allow it to fund scholarships for 350 of its students who have transferred to other institutions in California after Holy Names closed earlier this year. If approved, the petition would provide these students, most of them from Oakland and surrounding communities, with continued financial resources to help them continue their studies to become educators in the public school system and other fields.
The Holy Names University students are those who previously received or are eligible to receive Logan Scholarships, which are funded by the Logan Fund, the largest single component of HNU’s $55 million endowment. The petition seeks to allow the award by Holy Names University of new scholarships to eligible former HNU students, as well as provide funds to current Logan Scholarship recipients to help make up the difference between their existing grants and the cost of attending their transfer schools.
Holy Names University Petition Is First Step Of A Process
This petition is the first step of a process that would enable Holy Names University to ensure its endowment continues to support qualified students in Oakland and other local communities. HNU is currently investigating alternatives that, if approved by the state court, would enable use of the endowment for the awarding of annual scholarships to more students from those communities on an ongoing basis.
“While we regret that we had to close our doors, Holy Names University remains committed to our students and to the coming generations of deserving students from Oakland and its surrounding communities,” said Steven Borg, chairman of the HNU board of trustees. “We have asked the court to approve our ability to continue providing financial assistance to our former students from the Logan Fund.”
The California Attorney General’s office has reviewed the petition and has issued a formal letter of non-opposition. It now requires the final approval of the state court.
“Our goal is that our endowment continues to support the long-term dreams and educational journeys of students from the communities we have long served,” Borg said. “We are grateful for the support of the community as we work to ensure our endowment serves those communities for decades to come.”