YOUNGSTOWN, Ohio -- The Williamson College of Business Administration at Youngstown State University has received a $150,000 grant from the Great Lakes Higher Education Guaranty Corp.
With the Career Ready Internship grant, the Williamson College will work with local businesses and nonprofits to develop new paid internships and convert its unpaid internships into paid internships, helping students who can’t afford to work without pay.
The new internships are intended to provide juniors and seniors with any level of financial need real-world experience in their field of study and a better chance to compete for jobs after they graduate.
“We place a premium on ideas that work, and our Career Ready Internship grants help level the playing field for students who receive financial aid,” said Richard D. George, president and CEO of Great Lakes, in a prepared statement. “This program has the added benefit of developing relationships of lasting value between colleges and employers.”
In all, Great Lakes Higher Education Guaranty Corp. awarded $5.2 million in new grants to 40 colleges and universities in four states to help students with financial need receive the benefits of paid internships.
Great Lakes tested the idea with a $2.5 million commitment to 19 colleges and universities in Wisconsin during the 2013-14 academic year. Participating in an internship did more than provide students with a paycheck, it improved their odds of completing college. Ninety-eight percent of interns either re-enrolled the next semester or graduated, Great Lakes reports. The 2014-15 grant opportunity was offered again in Wisconsin, and expanded to include colleges in Iowa, Minnesota and Ohio.
Published by The Business Journal, Youngstown, Ohio.
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