Earl W. Stafford, chairman and chief executive officer of The Stafford Foundation, has donated $100,000 to Virginia State University, a university press release says. Stafford served as the keynote speaker at VSU’s 2010 Fall Commencement.
The Stafford Foundation is a faith-based, non-profit focused on providing support and assistance to the underserved, the marginalized and those socially and economically distressed, the release says. Stafford is also the chief executive officer of The Wentworth Group, LLC, a holding company that provides financial services to the small business community, it says.
In keeping with the Stafford Foundation’s mission, a substantial portion of the VSU donation will be used for the university’s Low Income Families with Talented Students (LIFTS) program. LIFTS is a first-of-its-kind financial aid program among state-supported, Historically Black Colleges and Universities (HBCUs). LIFTS promises to meet 100 percent of a qualifying student’s financial need by providing 75 percent of a student’s need through scholarships and grants and limiting debt through student loans to 25 percent of VSU’s in-state cost of attendance over four years, regardless of state residency, it says.