STRENGTH – Governor Wanda Vázquez Garced signed House Bill 2595 on Tuesday to authorize the Secretary of the Treasury to establish through public deed the “Independent Scholarship Trust of the University of Puerto Rico (UPR).”
“Our government has a firm commitment to promote and strengthen postsecondary public education in Puerto Rico. The now law 148-2020 seeks to strengthen post-secondary public education and make it accessible to everyone who aspires to a university degree, regardless of their financial resources. This Trust will help those who have financial need in order to support their academic and professional training, ”said Vázquez Garced in a written statement.
“As a graduate of the University of Puerto Rico and for me as Governor, it is important to do everything in my power to strengthen and provide opportunities for all students. That our young people can have access to academic growth of excellence in our first university center ”, added the First Executive.
This law authorizes the creation of a private and independent Trust for the distribution of financial aid to eligible undergraduate and graduate students of the UPR in order to help them in their studies and in their effective integration into the labor market.
This measure, which was one of those sent by Vázquez Garced before the consideration of the Legislative Assembly in the last Sixth Extraordinary Session, provides for the Trust to have recurring budgetary allocations as of fiscal year 2020-2021. The contributions or donations made to the Trust will be 100 percent deductible in the individual or corporate payroll of the donor.
The Trust can receive donations, and the scholarships will be distributed according to the regulations and standards adopted by the UPR. This creates a perpetual fund in order to keep it liquid and grow every year.