Ambassador Video

Ramani Ayer, Cape Cod Foundation Board Member and Community Challenge Donor

“I believe that education is what makes outstanding citizens. It is my passion to have a high-quality education for all children.”

Community Need

The average cost of higher education has more than doubled in the 21st century, with an annual growth rate of 2% over the past 10 years. A first-time, full-time undergraduate student will need an average of $36,436/year for tuition, books, supplies, and daily living expenses to pursue a 4-year degree at a postsecondary institution in the United States. Considering student loan interest and loss of income, the ultimate cost of a bachelor’s degree can exceed $500,000.

As costs continue to rise, enrollment continues to decline—an additional 4.2% from just over a year ago. In addition, over the last six years, college completion rates have plateaued. More than 36 million Americans have some education beyond high school but have not completed their studies and are no longer enrolled in a postsecondary program. It’s also important to note that persistence and completion rates are not equal among student types. Data shows inequities for students of color and adult students.

While there are many factors that influence a student’s ability to apply to and remain in college, cost is a significant one. The Cape Cod Foundation offers more than 100 different scholarships and is currently providing nearly $1 million in financial assistance annually for local students pursuing different educational pathways (two or four-year degrees, technical school, certificate programs) at different stages of their lives–from graduating high school seniors to adults entering/returning to college.

In 2023, we awarded a total of $21,000 in scholarships to eight students from The Cape Cod Foundation Scholarship Fund.  To put things into perspective, in 2024, we received 489 completed applications to this fund.  The gap in need and available resources is profound.

Approximately 25% of Cape Cod Foundation scholarship applicants are first generation college students. We continue to work individually and collectively with community partners to decrease barriers and support students through the application process.

There is also a need for wrap-around support outside of scholarship dollars. As part of our 35th Anniversary Celebration, we created a “Postsecondary Success Series” for local students (see below).

Foundation Strategy

Most of the scholarships the Foundation administers were established by individuals, families, businesses, and community groups. Because of this, the intentions and criteria of each fund were determined by the donor(s). Some scholarships support specific fields of study or undergraduate education only; others support students from a specific town or those attending a specific college or university.

The Cape Cod Foundation Scholarship Fund is our first discretionary scholarship fund. To increase eligibility, the Foundation Board made the criteria for this scholarship very broad: all graduating high school seniors, current college students, and returning adults from Cape Cod will be considered for scholarship support. We’ve also made the strategic shift to multi-year scholarships. By providing resources for up to four years of study, we are helping to ensure students can finance their education through graduation.

Student Impact

Since 2003, 64 students from all regions of Cape Cod have received support from this fund. The majority pursued undergraduate degrees at colleges and universities in New England. Their areas of study ran the gamut: law, business, computer science, finance, marketing, communications, psychology, health, environmental science, social science, law enforcement, hospitality, culinary arts, visual arts, and fashion/interior design. View the scholarship recipients from 2020-2023 HERE.

35th Anniversary Post Secondary Success Series

As part of our 35th Anniversary celebration, we created a Postsecondary Success Series to provide support for local students beyond scholarship dollars.  The series is designed to connect students with expert resources on topics that support postsecondary success.  Professional Financial Aid Advisor Jodi Conway presented the first online webinar, “Understanding Your Financial Aid Award Letters” in April. Please share this link with anyone you know navigating the financial aid process. Plans for two more webinars in 2024 are underway.

UNRESTRICTED FUND

ANIMAL PROTECTION & WELFARE FUND

ARTS & CULTURE FUND

EDUCATIONAL SCHOLARSHIPS FUND

HEALTH & HUMAN SERVICES FUND

HOUSING FUND

WOMEN AND GIRLS FUND

WORKFORCE
& CAREER DEVELOPMENT FUND

TO MAKE A MULTI-YEAR PROMISE
Kristin O’Malley
President and CEO
The Cape Cod Foundation
komalley@capecodfoundation.org
508.790.3040, Ext. 115