Unpad Gives 2 Billion Rupiah for Students, An Investment Return of Endowment Fund
Jatinangor, December 26, 2023 – Universitas Padjadjaran gives a scholarship worth 2 billion rupiahs to 240 active students in Unpad, an investment return of endowment funds.
The scholarship awarding was given symbolically last Friday (22/12) to student representatives during the Ceremony of the 95th Anniversary of Mother’s Day 2023 held in the courtyard of Gedung Rektorat, Jatinangor by Unpad’s rector, Prof. Rina Indiastuti, and vice-rector for Academic and Student Affairs, Prof Arief S. Kartasasmita.
Director of Finance and Treasury of Unpad, Edi Jaenudin, S.E., M.Si., Ak., explained that Unpad has rolled out the Padjadjaran Endowment Fund program since 2020. Unpad has obtained grants for three consecutive years from various parties, ranging from the general public, alumni, and parents to students, lecturers, and education staff. He also explained that the fund continues to accumulate and the endowment fund cannot be used based on rules, it must remain as an endowment, can be invested, and the investment results can be used, one of which is for student scholarships.
The 240 scholarship recipients are undergraduate and applied undergraduate students of 2021, 2022, and 2023, and were chosen based on selection by the rectorate together with BEM Kema Unpad. Edi said that Dana Abadi Padjadjaran (“Padjadjaran Endowment Fund”) scholarship is specifically targeted at students who are economically constrained.
Some of the scholarship recipients are students who deserve the KIP-K scholarship but are constrained due to limited quotas at the national level.
“Following the policy, we have accepted them and helped to alleviate their tuition. With the Dana Abadi Padjadjaran, those with lowered tuition are also receiving monthly fee assistance from us,” explains Edi.
Edi adds that academic ability is not the required main point. This is based on the condition of students who are academically and economically disadvantaged, where their lives are often divided into focusing on studying and making ends meet.
“To make ends meet while studying, many students work any available jobs in between classes. This can be said to be good and creative, but on the other hand, there are concerns that their academics will be disrupted,” explains Edi.
Thus, through the Dana Abadi Padjadjaran scholarship, 240 students are given educational scholarships in the form of tuition exemption and living expenses of IDR 600,000 per month for each recipient from January to December 2024.
Edi hopes that the scholarship recipients can focus on studying so that their academic abilities can improve significantly. He also adds that if the achievements of the students have not been adequate, the campus will conduct an evaluation in the future.
Results of Endowment Fund Investment
Edi explains that the Padjadjaran Endowment Fund is invested through sukuk or sharia bonds at Badan Wakaf Indonesia (the Indonesian Waqf Board). Currently, a total of 54 billion rupiah of endowment funds have been collected from donors.
From this total, the investment return of 3 billion rupiah available can be used for student scholarships aimed at supporting research and innovation activities, green campus development, and community empowerment programs.
“From the investment of 3 billion rupiah, we allocated 2 billion for Dana Abadi Padjadjaran scholarship. The rest of the fund is prepared for students of class 2024 or ongoing students who need assistance in the upcoming semester next month,” said Edi. He emphasized that various benefits will be obtained by donating to Dana Abadi Padjadjaran, especially to help students through the scholarship program.
“Dana Abadi Padjadjaran is very beneficial. For example, if we give a scholarship worth Rp 500 thousand directly to students, the funds will run out instantly. But if the funds are donated to the endowment fund, the scholarship fund worth 500 thousand rupiah will last and of course be used to help economically disadvantaged students. This is considered very useful and sustainable, both in the short, medium, and long term,” concludes Edi.
Writer: Yohanes William Ivakdalam
Translator: Jauza Maryam Mumtazah
