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Virginia Western Community College announced Tuesday that the Horace G. Fralin Charitable Trust has committed $5 million over five years to create an endowment for Virginia Western Community College.
At least 75 percent of the funding will be used for scholarships in the fields of science, technology, engineering, math, and health care.
“This gift, with an emphasis on science, engineering, technology, mathematics and health care, should give the younger citizens of the Roanoke Valley an opportunity to become a part of the Valley’s future economic success,” Fralin wrote in a news release. “Hopefully, others will join this effort to enlarge Virginia Western Community College’s scholarship endowment. It’s important to the future economic growth of this Valley.”
According to a news release the donation is the largest ever made to the Virginia Community College System. It brings the fund's assets to $10.9 million.
Virginia Western says the scholarship will help address the needs of the local workforce. According to a news release, 85 percent of Virginia Western's graduates remain in the Roanoke area.