Capstone Supports Colleges and Universities by Establishing and Seeding a Fund to Help Students Afford Higher Education
Birmingham, AL – Capstone Development Partners (“Capstone”) is pleased to announce the creation of a new corporate program, launched in support of improving access and affordability in higher education. The program is named Stepstone, an Initiative to support and build a path to affordability in higher education.
In December 2019, the Principals of Capstone seed-funded Stepstone with $100,000. Stepstone is designed to be an ongoing and sustainable initiative and as such its initial funding will be annually augmented through a contribution of a percentage of Capstone’s profits. Capstone’s seed funding of scholarships is intended to incentivize additional contributions from other of our business partners and organizations. The scholarships will be placed with institutions and managed by foundations and/or college and university administrators to provide housing or tuition assistance to students who have a compelling financial need.
The first Stepstone scholarship is currently being arranged and established at Arizona State University, where Capstone and the ASU Foundation are establishing a need-based student housing assistance fund that is focused on supporting a diverse student population for the next decade and beyond. The scholarship will be managed and distributed to worthy applicants by the ASU Foundation. Through Stepstone, Capstone has contributed $60,000 to seed the ASU scholarship. With this initial contribution incentivizing other donations, it is Capstone’s objective to grow this scholarship to $100,000 or more, providing years of meaningful financial assistance to ASU students in need. This inaugural effort currently has funding commitments totaling more than $85,000.
In November 2020, Capstone also utilized Stepstone funds to assist Cornish College of the Arts students through a $10,000 contribution to a tuition assistance fund established and managed by the College to help students afford tuition in a COVID-impacted environment.
“Affordability of, and accessibility to a higher education is a core belief and value of Capstone, and a responsibility that we take seriously. Through Stepstone, we can actively demonstrate our commitment to these objectives and hopefully help students afford an education and quality housing, thereby reducing housing and food insecurities. By partnering with institutions and our team members, and leveraging both private and public sector resources, we hope and believe that through Stepstone and our housing development work, we can collectively make a positive difference for students desiring a quality, life-enhancing higher education who might otherwise be financially challenged to do so.” said Bruce McKee, Principal Capstone Development Partners.
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