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GIVING BACK to the FUTURE Scholarships for Higher Education TABLE of CONTENTS | GIVING BACK to the FUTURE

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GIVING BACK to the FUTURE Scholarships for Higher Education TABLE of CONTENTS | GIVING BACK to the FUTURE GIVING BACK TO THE FUTURE Scholarships for Higher Education TABLE OF CONTENTS | GIVING BACK TO THE FUTURE Table of contents Acknowledgments 2 Executive summary 3 Introduction Scholarships for higher education: a financial and social investment 5 Chapter 1 The impact of scholarships: a return on investment Impact on the student 10 Impact on the community 14 Impact on the country 16 Chapter 2 Amplifying the impact of scholarships: maximizing returns Setting clear goals 19 Communicating actively 20 Engaging effectively 21 Enhancing employability 23 Conclusion The way forward: scholarships in strategic philanthropy 28 Program Design Toolkit Strategies for enhancing the impact of higher education scholarships 30 Appendix I Typology of scholarships 35 Appendix II Research methodology 38 1 GIVING BACK TO THE FUTURE | ACKNOWLEDGEMENTS Acknowledgments ducation is important. This is the unequivocal this project: the Aboitiz Foundation in the Philippines, Emessage of Asian philanthropic giving. Education the Zhejiang Xinhua Compassion Education Foundation is the primary destination for philanthropy in Asia, and in China and the Tata Trusts in India. These foundations within that scholarships are frequently the means by have made a serious commitment to scholarships and which education is supported. have changed the lives of thousands of young people and This study is a first-of-its-kind, evidence-based the communities and countries in which they live. look at the private provision of scholarships for higher We would also like to thank the Hinrich Foundation, education in Asia. It is the kind of data-driven research the Jardine Foundation, the Ford Foundation, the that our organization excels in, and the kind that provides Institute of International Education and The University of immediate and helpful information to donors and Hong Kong for sharing their experiences and learnings. administrators of scholarship programs. Lastly, this research could not have been carried out Our study shows that scholarships provide benefits to without the generosity of our supporters. We would the scholar, the community and the country. It also points especially like to thank our board chairman Ronnie out ways to maximize the investment into scholarships to C. Chan and governor Daniel M. Tsai, and the Bill & bring about the greatest impact. Melinda Gates Foundation. Others who supported our We would like to thank the three foundations scholarships work are: Thai Beverage, Bangkok Bank, that allowed us to meet and survey their scholars, Husodo Angkosubroto, Arif P. Rachmat, Teresita Sy- administrators and donors, and provided support for Coson, CIMB Group and C.C. Tung. 2 EXECUTIVE SUMMARY | GIVING BACK TO THE FUTURE Executive summary onors around the world support scholarships backgrounds are at greater risk of being excluded. Din higher education because of their potentially The benefits of scholarships also extend beyond transformative effect on people’s lives. Philanthropists financial and academic reward. Higher education are cognizant of this: Asia receives the largest share correlates with improved health and well-being. of global private philanthropic funding for education Scholars appreciate the overall boost scholarships give (29%),1 the highest proportion in the world. Nearly half to their future prospects: simply being selected for a the foundations in China and the Philippines support scholarship had a measurable impact on confidence scholarships and related efforts in education. The Asia- for many recipients, as well as improving motivation for based Li Ka Shing Foundation and Tata Trusts are among academic effort. the seven largest philanthropic funders of education in Many students would not be able to seize the the world.2 opportunities affiliated with higher education without Recognizing the importance of scholarships to financial support.Support matters even for many philanthropists in Asia, and the dearth of publicly- professionals going back to university, with scholarships available information and data on their impact, the being crucial in their return to school. Centre for Asian Philanthropy and Society (CAPS) Scholarships can improve retention rates and embarked on this study both to unpack the impact of academic performance. Even partial scholarships higher education scholarships, and to identify best ease the financial burden, particularly for students practices in their delivery. Our analysis—based on a who, in the absence of available bank loans in the survey of 787 scholars and alumni and 68 in-depth area where they live, turn to borrowing from friends interviews of scholars, administrators and donors from and family. three scholarships programs in China, India and the Scholarships inspire a greater impetus to give Philippines, in addition to a global literature review— back to society. Scholars feel motivated to help others shows that their enthusiasm for scholarships is well as a way of paying forward the help they themselves placed. The results illustrate how scholarships can have received. Many who study abroad include plans to have significant returns, not just for scholars, but also “return home” as part of their career path, bringing with for communities and countries, that extend beyond the them the benefits of their experience. primary objective of enabling higher education access Well-educated students provide a pipeline of in the region. talented workers for their local communities. Some Scholarships provide a meaningful return on donors explicitly state preparation for the workplace investment for scholars that accrue over their lifetimes. among their goals for scholars, sometimes contributing For scholars, a grant or loan enabling them to attend to augmenting the workforce in a particular area of their university brings benefits long after graduation. They nation. In a region with a growing need for skilled labor, accrue the many socioeconomic gains earned through scholarships offer a positive impact that resonates higher education. beyond their student recipients. Scholarships can alleviate the financial burden At the national level, such investment in human on students and their families at a time when tuition capital can bring substantial returns. As countries costs in Asia are rising. Students are increasingly mature, higher education becomes increasingly asked to bear the costs of education, even at public important for training a relevant workforce. universities, and in the absence of financial support, So, if scholarships in general bring many studies confirm that those from modest financial advantages, we can then ask what makes a particular 3 GIVING BACK TO THE FUTURE | EXECUTIVE SUMMARY program effective. Through our research, we identified four ways in which scholarships can amplify their beneficial effects: • Set and state clear goals. Clear goals improve the selection of applicants best primed to deliver on these aims, and well-informed scholars find it easier to fulfill the scholarship’s objectives. • Communicate actively. Scholars seek connections with donors and administrators, and those who receive contact—often through social media—more readily find a supportive and inspirational network. • Engage effectively. Contact with administrators, in person or online, improves academic and professional motivation for many scholars. • Enhance employability. Professional mentors, internships and alumni networks all help with career development and opportunity. We have devised a toolkit, shared at the end of this study, to help scholarship donors and administrators incorporate these strategies. Scholarships offer philanthropists a powerful form of social investment, with lasting effects on students, their communities and their nations. Sponsors of such scholarships can enhance the impact of their investments with a series of good practices, opening a path for future leaders and the societies to which they return, with skills in hand. 4 INTRODUCTION | GIVING BACK TO THE FUTURE Introduction Scholarships for higher education: a financial and social investment hilanthropists across Asia see the value of scholarships in the region, identify best practices Peducation and give generously to support it. in their delivery, and address the paucity of publicly Asia receives the largest share of global private available information and data. The results illustrate how philanthropic funding for education (29%),3 according scholarships can have significant returns, not just for to the Organisation for Economic Co-operation and scholars, but also for their communities and countries, Development (OECD). The OECD also recognizes that extend beyond enabling higher education access in education as a special beneficiary of domestic the region. philanthropy in the region, with the Asia-based Li Ka Our analysis is evidence-based, derived through the Shing Foundation and Tata Trusts among the world’s collection of qualitative and quantitative information seven largest philanthropic funders of education.4 from the central stakeholders of scholarship programs: Of the many kinds of philanthropic support, spanning current recipients of scholarships (scholars), past all tiers of education and recipients from individual recipients (alumni), administrators, and donors. We students to institutions, scholarships are perhaps the address two main questions: one most favored by Asian donors. Data on scholarships 1. What is the impact of a scholarship on the scholar, is sparse, but we know that nearly half of the foundations community,
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