[Unpad Media Channel] The Unpad scholarship, with a total of IDR 2 Billion, is given from the investment of the Padjadjaran Endowment Fund. The scholarship handover is done symbolically by the Rector of Unpad, Prof. Rina Indiastuti, with the Vice-Rector for Academic and Student Affairs, Prof. Arief S. Kartasasmita, to the student representatives amidst the 95th Mother’s Day Commemoration Ceremony in 2023 which is held at the yard of Unpad rectorate Building, Jatinangor, Friday (22/12/2023).
The Director of Finance and Treasury, Edi Jaenudin, S.E., M.Si., Ak., explained that the Padjadjaran Endowment Fund program had been rolled out by Unpad since 2020. The university has received grants over the past three years from various sources, including the general public, alums, parents, students, faculty, and staff.
“The funds are accumulated continuously. According to the rules, the endowment fund cannot be used; it must remain perpetual and can be invested. Only the returns from the investment can be used, one of which is for student scholarships,” explained Edi.
A total of 240 scholarship recipients are undergraduate and applied undergraduate students from 2021, 2022, and 2023. They are selected through a screening process conducted by the university rectorate and the Student Executive Board (BEM Kema Unpad). Edi said that the recipients of the Padjadjaran Endowment Fund scholarship were focused on those who faced economic constraints.
Some students deserve to receive the KIP-K scholarship but are constrained by the limited national quota.
“According to the policy, we have accepted and assisted them with their tuition fees. With the presence of the Padjadjaran Endowment Fund, we will also support their monthly expenses, extending our assistance to those whose tuition fees we have been helping so far,” he explained.
Edi continued that academic ability was only one of the prerequisites. It is based on the condition that many students with limited economic resources also have academic skills that still need to be stronger or have great potential. The reason is that their focus is divided between attending lectures and meeting their daily needs.
“Many students work odd jobs between classes to support themselves during their studies. While this is good and creative, on the other hand, we are concerned that their academics may be disrupted,” explained Edi.
Therefore, through the Padjadjaran Endowment Fund scholarship, these 240 students are granted educational scholarships, including exemption from tuition fees and a monthly living allowance of IDR 600,000 for each recipient from January to December 2024. Edi stated that scholarship recipients were expected to focus on their studies, and their academic performance was hoped to improve. “If their achievements have not been good so far, with this scholarship, we will evaluate in the future,” he added.
The Investment Results of the Endowment Fund
Edi explained that the Padjadjaran Endowment Fund was invested through sukuk or sharia bonds at the Indonesian Waqf Board (Badan Wakaf Indonesia). The total accumulated endowment fund from donors currently amounts to IDR 54 billion.
Of this total, an investment return of IDR 3 billion can be utilized for student scholarships, supporting research and innovation activities, developing green campus, and community empowerment programs.
“From the IDR 3 billion, we allocate IDR 2 billion for the Padjadjaran Endowment Fund scholarship. For the rest, we prepare for students of the year 2024 or those (ongoing students) who need assistance in the upcoming odd semester,” said Edi.
He emphasized that by donating to the Padjadjaran Endowment Fund, there would be many benefits, especially in helping students through scholarship programs. In addition, the returns from the endowment fund investment will continue to flow as long as Unpad exists.
“The Padjadjaran Endowment Fund is very beneficial. For example, if we give a scholarship of IDR 500,000 directly to a student, it will be finished. But if donated to the endowment fund, that 500,000 will endure, and its utilization will continue to benefit students. This is very beneficial and continuous, both in the short, medium, and long term,” he concluded. (arm/SA)*
