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Welch gives $1m for scholarship fund Gift to assist graduates of Salem High School
The scholarships will be named the John and Grace Welch Endowed Scholarships in honor and memory of his parents. Welch frequently credits his mother with instilling in him the values, ideals and work ethic which made him the "most admired CEO in the world" during his 20 years as chairman and CEO of General Electric. "My years in Salem and at UMass were a very important part of my life, and I hope these scholarships will allow other young people from Salem to realize their dreams, just as UMass helped me realize mine," said Welch. Beginning with the current senior class at Salem High School, two graduating seniors, one male and one female, will receive a John and Grace Welch scholarship to the University of Massachusetts each year. The scholarships will be awarded to students who demonstrate a dedication to learning and a willingness to be leaders in their endeavors. If a student remains in good standing at UMass, the scholarship will be renewable for four years. Welch is a native of Salem who graduated from Salem High School in 1953 and from the Amherst campus in 1957 with a degree in Chemical Engineering. He recently wrote, "Jack: Straight from the Gut," a book about his life and career, which has been at the top of the nation's best-seller lists since early September. President William M. Bulger praised Welch's generosity. "Jack Welch is a shining example of courage and leadership, that we all can learn from," Bulger said during a visit to Salem High School on Tuesday. "With his gift to the University, which so thoughtfully recognizes the influence that his mother had on him, he is providing a tremendous opportunity for the sons and daughters of Salem. The University greatly appreciates this act of kindness and the faith that Jack Welch is showing in our ability to educate young people." Salem school superintendent Herbert Levine said, "This is further proof that Jack Welch remembers and continues to value the cornerstones of his life: his parents, his hometown, the teachers of Salem, and the University of Massachusetts. This is more than a generous financial gift. It is a message to our students that the effort they make today can result in a lifetime of opportunity." Salem High School currently serves 1,200 students. About three quarters of its graduates go on to either two- or four-year colleges. Welch has been a benefactor of Salem High School for many years, having donated funds to light the football field in 1997. |
