Porsche family to support WU4YOU scholarship program
The WU4YOU scholarship program is awarded to high-achieving students who come from low-income backgrounds.
Completing an academic degree is particularly difficult for students from low-income backgrounds because they often have to work on the side to finance their studies. To support such students, WU Rector Edeltraud Hanappi-Egger launched the WU4YOU scholarship program in 2016.
WU4YOU scholarships will again be provided to 15 first-year students with a high potential for academic achievement in 2021. The scholarships amount to €500 per month. In addition, the students also receive personalized coaching services provided by WU faculty and get to participate in WU’s mentoring program. This helps the students to avoid any difficulties that may arise during their degree program early on and makes it possible for them to achieve optimal academic success. This year, part of the scholarships will be funded through private donations for the first time. The Porsche family has agreed to provide long-term funding for several scholarships each year.
2021 brings first private donations in support of WU scholarship program
Previously, WU relied mainly on corporate donations for funding its scholarships. The latest donations by Wolfgang and Felix Porsche are the first private donations made in support of the WU4YOU program. WU Rector Edeltraud Hanappi-Egger says, “In the US, it is normal that universities receive generous donations from successful personalities. In Austria, however, such donations are unfortunately still very rare. Projects like WU4YOU that go beyond the publicly funded core responsibilities of a university require additional financial resources. In 2021, for the first time, part of the scholarships will be funded from the donation made by Wolfgang and Felix Porsche. This is really good to see, and I hope that others will follow.” Through their donation, Wolfgang and Felix Porsche will fund several scholarships over the next years. Scholarship holders will also have the opportunity to get in touch with the donors for informal advice and to exchange ideas. “With the exchange I would like to give students the opportunity to build up their own network and support them within the scope of my possibilities”, says Felix Porsche.
Working together with schools
Initially, the WU4YOU scholarship program was launched in cooperation with four schools in Vienna. Today, WU works with over 30 schools all across Austria. These schools have until the end of April to nominate suitable candidates for the scholarships and issue letters of recommendation so that the students can apply to WU. Since 2016, WU has awarded WU4YOU scholarships to 65 students. Four of them have already completed their bachelor’s programs – one in the minimum prescribed program duration, and one with honors. Candidates interested in the scholarships also need to apply for one of WU’s three bachelor’s programs at the same time. Applications for the scholarships and the bachelor’s programs are being accepted until May 17.