The Vice Chancellor’s Endowment Fund (VCEF) will also support academically promising but needy continuing undergraduate and post-graduate students through scholarships tenable for training in any of the university’s faculties.
The VCEF is targeted at raising GH¢100 million as seed amount within five years.
At the launch of the VCEF in Accra yesterday, the Vice Chancellor of the UPSA, Professor Abednego Feehi Okoe Amartey, indicated that about 1,350 students who qualified to enter the UPSA every year were unable to do so because of financial challenges.
He said while the school received an average of 1,450 applicants for financial aid each academic year, “an average of 300 students defer their studies at the UPSA each year due to financial challenges. Quite a significant number of the UPSA students drop out before they complete final year due to financial challenges”.
He observed that the country would lose intelligent manpower resources required for national development if high potential students were excluded from tertiary education purely for financial reasons.
Prof. Amartey, therefore, underscored the need to assist people who desired and deserved tertiary education but could not afford it.
“We have recognised a critical historical need in our society and as a university, we have collectively purposed to apply our strengths and knowledge to mark an intervention,” he added.
The VC, therefore, called on the government through the Ministry of Education to support the fund.
“We are appealing to corporate institutions, all public and private sector organisations and non-governmental organisations to donate generously to the fund as a matter of social responsibility. We are also appealing to the generosity of Ghanaians home and abroad, chiefs and the international community to support the fund,” he added.
A Director of Groupe Ideal, Mr Hubert Dake, who launched the VCEF on behalf of the President of Groupe Ideal, Dr Nii Kotei Dzani, underscored the need to share wealth with the less privileged.
“It is really important that we contribute to society. It is the Lord that gives us the wisdom to make wealth. Therefore, what you have in your pocket is not only yours,” he said.
On behalf of Groupe Ideal, Mr Dake pledged GH¢10,000 in support of the fund.
He also appealed to the public to contribute to the VCEF to support students who could not afford tertiary education.