by R. Keith Michel
President, Webb Institute

When William Webb established Webb’s Academy, his intent was to provide an education free of all costs to qualified applicants whose families could not otherwise afford the cost of an education. In the 1960’s, Webb faced compelling economic challenges that drove us to begin charging room and board. Today, room and board and others costs of attendance over and above our full-tuition scholarship run about $16,500 per year. We have found that the cost of attendance is inhibiting our ability to recruit the diverse group of economically disadvantaged high school students. In recent years, some Webb students have accumulated debt of $40,000 to $60,000 during their four years at Webb. Although all our students secure good jobs when they graduate and successfully pay back their federal student loans, we would like to reduce the debt load they face as they start their professional lives.

We are very pleased to announce that the Long Island-based Gardiner Foundation has awarded Webb a grant of $250,000. This grant will enable Webb to meet the “demonstrated need” of our students for the next three years. Webb will make the best effort to solicit contributions to endow room & board scholarships so this scholarship program can continue after the third year.

“Demonstrated Need” is a term that describes the cost for a student to attend college in excess of their “Expected Family Contribution” (EFC). The EFC is computed by the federal government when students file an application (FAFSA) seeking federal loans, and is primarily a function of family income, family assets, and the number of family members attending college. We believe all students and their family should make a contribution to their education at Webb, regardless of financial status. Therefore, we have established an expected minimum contribution of between $3,000 and $5,000 which may be covered by Subsidized federal loans if the student so chooses. The generous grant from the Gardiner Foundation provides sufficient funds to enable Webb to meet all need in excess of this minimum expected contribution. Thus, no Webb should graduate with excessive debt. With this program, Webb joins a list of approximately 70 colleges and universities in the United States that meet the demonstrated need of their students.

(From left to right) Webb Institute Director of Development, Anthony Zic, Director of Admissions and Student Affairs, Lauren Carballo, Executive Director of RDLG Foundation, Kathryn Curran, Webb Board of Trustee, Joseph Cuneo, and President R. Keith Michel. Photo Credit: Robert David Lion Gardiner (RDLG) Foundation