The report was issued to mark the 20th anniversary of the Alan and Ruth Stein Educational Assistance Program, which supports residents living in BRIDGE communities with scholarships to pursue their educational and career aspirations. BRIDGE is a leading nonprofit developer, owner and manager of affordable housing in California, Oregon and Washington.
During the 2001-2021 funding cycles, BRIDGE awarded $2,059,000 in Stein scholarships to 376 residents ranging in age from 16 to 70 years old; more than 75% of awardees were people of color. Recipients included college-bound high-school seniors, people transitioning into the workforce and adults seeking new skills to advance or change careers.
Two years post-scholarship, more than half of scholars saw an increase in their employment income. In fact, their average income growth ranged from 111-284%, far above the average wage increase of 3-5% for Californians during the same time period. The report also found that, of residents who received scholarships:
- 97% have more time to focus on their studies
- 86% take out fewer student loans
- 95% encourage their friends and families to go to school
“We believe that an affordable home is a foundation for stability and advancement,” said Ken Lombard, President & CEO of BRIDGE. “Our scholarships support residents as they realize their educational goals and build greater economic security for themselves and their families.”
As one scholar noted, “The impact on me and my family is beyond words. It’s not just the money, but someone cared and trusted me enough and wanted me to succeed.”
To view the full report, visit www.bridgehousing.com/publications. On June 1, 2022, BRIDGE will open the next application cycle for the Alan and Ruth Stein Educational Assistance Program as well as the Kent Colwell Scholarship. For more information about BRIDGE, visit www.bridgehousing.com.