Providence, R.I.--A new fundraising effort to ensure that Providence College students are able to finish their education--despite their families' unexpected financial hardships--is under way.

The aptly-named Angel Fund is a special fund created to provide immediate help, in the form of financial aid, for current students of families in financial crisis. The fund already has received more than $80,000 in donations from Providence College alumni and parents, enabling nearly 40 students to continue their studies this semester.

In a sign of the country's dramatic economic downturn, many PC families have found themselves unable to pay this year's tuition bills--whether due to sudden unemployment, a health crisis, the volatile investment market, or the decline in student loan availability.

The College's Office of Financial Aid has received more requests for additional aid in the first nine months of this academic year than similar requests during all of last year. As of March 31, 305 appeals had been received, compared to 267 appeals in 2007-08. Of these requests, 108 are from families of seniors.

"Given our mission as a Catholic and Dominican institution, we are committed to helping current students in unanticipated family distress complete their studies at Providence College," said President Rev. Brian J. Shanley, O.P. '80. "Helping students in difficult times has always been the Providence College ethos, and we will find a way, once again, to keep our students in school in this current economy."

In January, Father Shanley authorized the use of $450,000 from the College's operating budget to help families in unanticipated financial distress. The sudden need to adjust the operating budget was evidence that a more permanent way to meet student needs of this kind had to be found. When the challenge was articulated and a current-use fund was proposed, a number of alumni and PC parents immediately responded.

One immediate goal of the fund is to help current seniors graduate as planned. "I am grateful to the school and to everyone. I didn't know how I was going to get her to graduate," said the father of one senior who received additional aid. The parent, who asked for anonymity, noted that several circumstances, including illness and job loss, prompted him to seek assistance.

"Education is the most important thing," he added, "and to deprive her of a great education at a great college would have been the worst thing I could do to her.

"People are very generous," he continued, citing both the Angel Fund donors and the Office of Financial Aid staff. "They really care about all the families in need. I never let my kids know the whole story, but I did tell my daughter how much Providence College had helped her and made it possible for her to continue. They really wanted to get her through."

More appeals expected
The number of financial aid appeals this year is expected to grow even more, according to Sandra Oliveira, executive director of financial aid.

"I am expecting an increase in the coming weeks, as we have a number of students preparing to graduate who still have outstanding account balances, as well as returning students unable to pre-register for fall classes because of financial holds on their accounts," explained Oliveira, who projects even more appeals for additional assistance in the next academic year.

"Many of our families secured the financing needed to cover this academic year before their financial situations and loan availability changed. What I am now hearing is that many of them are unsure if the same financing options will be available to them next year, or if they will be able to take on additional debt in this current economic climate," she added. "I wish we could help everyone. It is difficult to explain to a student who really needs the help that we don't have the funds available."

Among the alumni donors who have stepped forward are a number who themselves were recipients of special financial aid from the College that enabled them to complete their PC education.

"The Angel Fund is a way for many alumni to complete the circle of giving that began when they received the aid they needed to graduate from Providence College," noted Father Shanley. "Because generosity has been a vital part of the College's character since its inception, we are hopeful that many alumni will remember those who helped them at a time of need and honor their memory by helping today's students."

Visit the Angel Fund Web page  for more information, including how to donate.

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