Gov. Kristi Noem Thursday was joined by lawmakers, bankers and health officials in Sioux Falls for a ceremonial bill signing to establish the state's first-ever needs-based scholarship.
South Dakota's public-private needs-based scholarship fund, the Freedom Scholarship, is getting an added boost from two major local companies.
First PREMIER Bank and PREMIER Bankcard announced Tuesday the companies are giving a $50 million donation to the Freedom Scholarship endowment. Tuesday's announcement follows the companies' and Denny Sanford's initial support of $100 million to launch the fund last year.
With their total $150 million so far, a combined $25 million from Avera Health and Sanford Health, and $50 million passed in the 2021 Legislative session by way of Senate Bill 171, the Freedom Scholarship now stands at $225 million.
As many as 1,276 students have accepted Freedom Scholarships so far in this first year, with awards ranging from $1,500 to $5,000 for each student. An initial allocation of $5.1 million was set to be distributed to eligible South Dakota institutions beginning this year.
One of those recipients is Merci Arbach, a student at South Dakota State University and a recent graduate from Washington High School.
“This scholarship has allowed me to have a lot more financial freedom and is very amazing because it helps more than just Sioux Falls - it's the community of South Dakota,” Arbach said in a news release. “I don't actually have words to express my gratitude other than thank you.”
The funds, managed by the South Dakota Community Foundation and the Freedom Scholarship Board of Directors, have allowed students like Arbach to pursue their own dreams, First PREMIER Bank CEO Dana Dykhouse said in a news release.
“It truly made a difference in the lives of many, and I could not be prouder of the organizations that stepped up and made this program happen,” he added.
In addition to serving as financial aid, the Freedom Scholarship is also meant to help keep graduates in South Dakota, as the scholarship stipulates graduates stay and work in South Dakota for three years following graduation.
Elli Haerter, Freedom Scholarship Coordinator, said they hope other businesses and organizations in South Dakota will join the effort to fund the needs-based scholarship program.
About Northern State University
Northern State University is a student-centered institution that provides an outstanding educational experience, preparing students through the liberal arts and professional education for their future endeavors. A regional university, Northern offers rigorous academics; diverse civic, social and cultural opportunities; and a commitment to building an inclusive environment for all points of view. Northern also offers a broad-based athletics program, sponsoring 15 NCAA Division II intercollegiate varsity sports that compete in the Northern Sun Intercollegiate Athletic Conference (NSIC). The university strives to enrich the community through partnerships such as its Educational Impact Campaign, which opened a new South Dakota School for the Blind and Visually Impaired; new athletic and recreation fields; and an on-campus regional sports complex. With the $55 million campaign, NSU has been the recipient of more than $150 million in privately funded building projects and scholarships within a decade. To learn more, visit NSU Admissions.