The Steel Dynamics Foundation is giving $1 million to the University of Saint Francis to bolster scholarships.
Officials with the school and foundation announced the donation during a news conference Thursday.
“Saint Francis has always had a warm spot in our hearts,” said Ben Eisbart, vice president of Steel Dynamics.
The money will be given over a 10-year-period and will establish the university’s Steel Dynamics Foundation Scholarship. The scholarships are designed as a way for Steel Dynamics to reinvest in the community, CEO Mark Millett said in a statement.
Six renewable scholarships of $5,000 each will be awarded to members of each freshman class beginning in the fall semester of 2014.
Scholarships will be renewable for four years, according to the school, and applicants must be full-time students majoring in a four-year degree program in science, business, mathematics, accounting or finance.
“These degrees give students skills they need for a variety of in-demand professions,” university President Sister M. Elise Kriss said during Thursday’s news conference.
In a statement, Kriss also said: “We have been strong supporters of the sciences across the years through our strong healthcare programs, and our chemistry and biology programs have prepared graduates continuing their studies in medicine and veterinary medicine. USF students in our environmental science program contribute to green initiatives for businesses and protect the health and well being of employees and the public.”