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Scranton Area Foundation Provides $400,000 Scholarship Grant to The Commonwealth Medical College

Friday, October 03, 2020

The Board of Governors of the Scranton Area Foundation has announced the largest grant in their history as a community foundation. A $400,000 grant has been awarded to The Commonwealth Medical College to fund scholarships that will aid students over the next four years.

“The Foundation is honored to participate in supporting this vital program which promises to have very positive outcomes for the future of our community, our region and beyond,” stated George Lynett, Chairman of the Board of Governors.

“The Scranton Area Foundation’s grant will help students graduate without the burden of enormous debt. The generosity of community leaders such as the Scranton Area Foundation is truly what will ensure the quality of the educational experience and the success of the College,” stated President and Dean, Robert D’Alessandri, MD. The College is currently seeking scholarship support for the charter class at $20,000 a student for each of the four years of school. To date, the College has raised enough for 42 scholarships and continues to look for funding for the additional 18.

During the next 20 years, the new medical school is expected to add 425 practicing physicians to Northeastern Pennsylvania. In addition, the new medical school is expected to add $70 million to the local economy and create 1,000 new jobs that directly and indirectly support the school’s operations.

“As a community foundation of approximately $30 million in assets, which is comprised of the many charitable gifts of the people of Lackawanna County and others, the SAF is extremely grateful to be able to participate in “change-making” through grants made possible by our generous donors,” stated Jeanne Bovard, SAF Director/CEO. “We wish the TCMC every success in carrying out their noble mission.”