Osher Foundation Donates $500K for Scholarships to UCSD

will use a $500,000 gift from the Osher Foundation to endow scholarships for transfer students from community colleges in California who are parents and can demonstrate financial need, the university announced Wednesday.

The donation comes from the foundation of Bernard Osher, a founding director of now-defunct World Savings Bank, which at one point was the second-largest savings and loan in the country. His charity supports higher education institutions around the country.   

“The Osher Foundation is delighted to make this gift to assist transfer students at UC San Diego as they work to complete their degrees,” said Mary Bitterman, the foundation's president. “Today, students face many obstacles in continuing their education. The Osher Foundation is dedicated to providing scholarship support to help motivated students realize their dreams.” 

The donation will generate about $25,000 a year for scholarships, according to UCSD. The school cited research that shows more than a quarter of community college students have children, so they have to strike a balance between education and supporting family.   

Ann Klein, director of the Financial Aid Office, said the university has been trying to make the La Jolla campus more family-friendly, including the opening of a family study room at the Geisel Library, special swim times at the two recreational pools and priority enrollment.

–City News Service