Each year since 1985, the Foundation for Independent Higher Education has awarded grants to State Fund Members to provide UPS Scholarships to every private college and university in the State Fund network. The scholarships are given in the name of UPS, whose financial support was the basis for the CIC-FIHE endowment. Over the years, FIHE (now CIC) has been pleased to award over $47 million in scholarship grants to its State Fund Members for the benefit of more than 16,000 deserving students at independent colleges across the country.
The scholarships vary in size from year to year based on market conditions and investment returns. For the 2011-2012 academic year, 601 private colleges and universities received a $2,400 UPS Scholarship. Each scholarship is awarded to one need-based student whose background reflects one or more of the components in the target population of top priority to the UPS Foundation and to CIC’s First Opportunity Partners program.