Virginia Tech has just received a $2 million endowment fund to assist its students in internship programs for federal, state, and local career opportunities.
The Public Service Education Institute, a nonprofit organization based in Washington, DC, and the Life Sciences Internship Endowment granted $1 million each to the college.
Half of the funds given will be allocated to the College of Agriculture and Life Sciences where more than 3,100 students are currently enrolled.
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Virginia Tech Allocates More Funds for Student Career Opportunities
Virginia Tech has been raising its budget to help its graduating students for better career opportunities since last year.
Just last June, the Virginia Tech Board of Visitors voted to raise graduate student compensation for the A.Y. 20232024 by up to 5%.
The decision is expected to help ease the expenses for full-time graduate students. The approval brings the new monthly minimum to $2,420 from the previous $1,763 per month assistance.
The Board of Visitors aims to further raise the compensation funds for graduate students by another 5% next year to match the $2,734 per month cost of living in the state.
Majority of the graduate students in the college are under the assistance program.
Virginia Educational Institutions Remain Underfunded
While efforts from the colleges in the state have been raising funds to help students financially, Virginia's higher education institutions remain one of the high end of expenses across the US.
According to the state government, many institutions in the state, including Virginia Tech, have increased their tuition and miscellaneous fees since 2012 as inflation continues to hit Virginia.
The declining state fund for higher education also makes it harder for many students to continue their studies even in public institutions.
The State of Virginia is already finding ways to increase the operation funds for the colleges and universities in the state by limiting institutional autonomy.
It has been found out that the majority of the funds given to colleges go to intercollegiate sports rather than academics.
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