Francis Marion University Education Foundation receives $100,000 grant to help SC students retain their merit scholarships
FLORENCE, SC — May 7, 2025 — Francis Marion University Education Foundation (FMUEF), has been awarded a $100,000 grant from Power:Ed, the philanthropy of SC Student Loan Corporation, to support the expansion of FMU’s Summer Success program to help SC students retain their merit scholarships. Funding will allow selected in-state students, who are on the verge of losing their state merit scholarship, to take up to seven credit hours during the summer with help covering tuition/fees, textbooks/materials, housing, and dining.
Initially created to support freshmen students struggling during the COVID pandemic, this initiative can have a broader impact on our low-income, underrepresented, and first-generation students. Power:Ed funding will allow FMU to expand student eligibility and continue to provide this invaluable program that supports South Carolina students, many of whom are from the Pee Dee area and rely on state scholarships to fund their education.
State merit scholarships require first-year students to earn 30 credits and a 3.0 LIFE GPA before the next academic year. If students struggle in their classes and need to withdraw from a course, it is very difficult for them to earn the required credits and GPA during the academic year. Students who fall short need to take summer courses to maintain their scholarship. However, many students find the cost of summer courses to be restrictive. Consequently, students who lose their state-merit scholarship are at the greatest risk of discontinuing their college education.
FMU’s pilot project has shown success over the past few years with the help of federal funding. 77% of students assisted kept their scholarships. As a result, FMU’s Fall 2024 first-year student retention rate was the highest it has been in the previous 15 years.
“We are deeply appreciative of this support from Power:Ed,” said FMU President Fred Carter. “This grant supports our Summer Success Program and helps to minimize the financial stress faced by students working to maintain state merit scholarships.”
“Power:Ed and SC Student Loan are proud to support this incredible program from Francis Marion to help more students retain their merit scholarships and persist to graduation. We hope it will become a model that can be replicated by higher education institutions across South Carolina,” said Power:Ed Executive Director Claire Gibbons.
In FY2024-25 Power:Ed has awarded $1,000,000 in grants to South Carolina education and career readiness organizations. In this fourth quarter, Power:Ed has awarded five grants (including this grant to FMU) totaling $212,000. Grants are administered quarterly, and the next grant funding deadline is July 1, 2025.
About FMU Education Foundation
The Francis Marion University Education Foundation was organized in 1974 to provide means for soliciting and accepting substantial gifts of money or property in order to build an endowment fund that would promote the educational purposes and welfare of Francis Marion University. It allows the university to meet a number of diverse needs, with its primary focus on scholarship support for students.
About Power:Ed
Founded in 2019, Power:Ed, the philanthropy of SC Student Loan, is dedicated to creating opportunities for South Carolina’s youth and adults by supporting low-income, underrepresented, and first-generation students; improving access to college and degree completion; and creating pathways to quality workforce opportunities. Organizations serving middle school through post-college talent who are interested in applying for a grant or partnering with Power:Ed, should visit power-ed.org.