Latest news with #firstgeneration
CBS News
4 days ago
- Business
- CBS News
Stockton's University of the Pacific receives federal grant for first-generation students
Amid defunding of the Department of Education, nearly $2 million of funding was renewed for the University of the Pacific in Stockton – specifically for students who are the first in their family to attend college. Success TRiO, UOP's federally funded student educational opportunity program, says this money will change lives in Stockton. "I'll be the first in the family to finish my bachelor's degree," said Sounie Proeung-Sok, a senior at Pacific. Proeung-Sok, a native Stocktonian, will not only be the first in his family to graduate and get a degree, but also the first to be a university student. "I'm very proud to be first-generation. I'm first-generation Cambodian-American," Proeung-Sok said. "I come from a family of eight. I'm the first in my family to attend college." Recently, the Department of Education awarded TRiO $1.7 million – money that will be going to 1,000 first-generation students who attend UOP over the next five years. Students just like Sounie. "They're coming from low-income backgrounds, such as myself," Proeung-Sok said. "For us to be awarded that $1.7 million grant, that's going to support so many more students who think they don't have that ... financial support to even attend college." It's support the TRiO program was preparing to lose. "It's been really tough, but we had a contingency plan for a couple months now just in case the TRiO grant didn't get refunded for the next five years," said Rosie Montes with TRiO. Montes is the director for the Success TRiO program at Pacific. A first-generation graduate herself, she knows that this money going towards these students is the boost they need. "They're providing for the household, they're paying for groceries. How do first-gen students continue their education while also providing for their family at home?" Montes said. The grant will help 200 students every year for five years, then it could hopefully be renewed again. "I thought I wasn't going to be able to afford college. With the support I received from UOP and the Success TRiO program, it's a possibility for anyone, to be honest," Proeung-Sok said. Sounie says this program has helped him so much, he switched his major to sociology and now plans to help more first-generation students make it through college, just like TRiO helped him.
Wamda
28-07-2025
- Business
- Wamda
Inside the evolving role of advisors for MENA family offices
Following our deep dive into how MENA-based family offices are rethinking their approach to direct startup investments, this piece explores another critical dimension of that shift: the evolving role of advisors. As families take a more hands-on role in managing their wealth and making strategic bets, they're also raising the bar for the kind of expertise, judgement, and partnership they expect from those around them. It's no longer about hiring someone to manage capital—it's about finding trusted allies who can help protect and grow a legacy. As family offices in MENA and beyond mature, their expectations of advisors are changing fast. It's no longer just about optimising returns. Today's families are looking for strategic partners who can help them navigate complex investment landscapes, preserve their legacy, and operate with integrity across generations. Beyond the balance sheet Family offices are now dealing with more ambitious investment agendas, tighter regulatory frameworks, and an increasing interest in purpose-driven wealth. This means advisors need to offer more than just technical competence—they must be able to align with a family's long-term vision, adapt to changing goals, and provide proactive guidance across investment, governance, and succession planning. In markets like Saudi Arabia and the UAE, where many first-generation offices are transitioning into institutionalised platforms, the demand for this strategic guidance is even more pronounced. Trust, discretion, and fit The advisors who stand out are those who can build real trust. Christopher Aw, a seasoned advisor to high-net-worth families, notes that transparency, communication, and discretion often matter more than any financial model. 'Families want someone who understands their values, not just their assets,' he says. Importantly, independence plays a big role. Internal dynamics can sometimes influence full-time advisors. Many families, Aw points out, prefer to work with several external advisors—especially if they're not connected—to ensure objectivity and diverse thinking. Soft skills matter Technical expertise is expected. But what increasingly sets top advisors apart is emotional intelligence: the ability to handle sensitive family matters, manage generational dynamics, and step into the role of a trusted confidant. It's not unusual for advisors to be invited to family events or involved in major personal transitions. Supporting direct investment ambitions With more family offices pursuing direct investments, especially in startups and real assets, advisors are expected to offer more than passive wealth planning. Advisors are expected to benchmark deals, identify potential red flags, and facilitate meaningful partnerships. Families are also tapping into advisors' networks for co-investment opportunities and sector insight—particularly in frontier sectors like fintech, climate, and deep tech. Value, not just price While fees remain a consideration, the focus is increasingly on value. The right advisor can help avoid costly mistakes, uncover untapped opportunities, and bring clarity to complex decisions. That impact tends to outweigh headline costs. Families are also advised to do their due diligence—checking references, seeking peer recommendations, and looking for a consistent track record of alignment and discretion. Bottom line: Family offices are looking for partners, not just service providers. The most effective advisors today are those who combine technical depth with emotional intelligence, who can operate with independence, and who are committed to the family's vision—not just its financial outcomes. As Aw puts it, 'The families who thrive are the ones who ask hard questions, surround themselves with experts, and stay honest about what they don't know.'
Forbes
11-07-2025
- Business
- Forbes
The Glue Is What Sustains The Legacy: Rethinking A Family Legacy Around Emotional Value
What's the point of a $10, $20, $50, or even $100 million legacy if the family doesn't enjoy or appreciate one another for who they are? I work with families across the country, always with an educational approach. My goal is to provide value in all aspects of their lives. Naturally, that leads me to integrate into families for everything finance-related, and often beyond. Many of my clients are first-generation wealth holders. They may have inherited a business that generates significant income, but their parents or grandparents often had minimal liquid wealth. As a result, they have never been taught how to manage a sudden influx of money or the emotional weight that comes with it. Imagine someone who inherits an aircraft parts business or a large real estate portfolio and later sells it to a strategic buyer or private equity firm. Despite newfound wealth, they often struggle to spend. Why? Because they were raised with values shaped by scarcity, by watching parents stretch every dollar. They know they cannot take it with them, but they also cannot bring themselves to enjoy it. This inability to spend wisely creates a ripple effect. If they cannot conceptualize spending on themselves, how can they confidently pass wealth to their children? How do they decide who deserves it? How do they make it fair when each child has a different path? Here's where the challenge deepens. Many families assess members individually, evaluating them based on their economic value or perceived future potential, without acknowledging the softer, more essential aspects that make a family whole. There is a common estate planning model that ties access to family wealth to academic achievement. It makes sense on paper. Statistically, higher education correlates with stronger earning potential, so wealth distributions are granted accordingly. When helping clients work through these structures, I often think about how I would build a plan for my own family. At first, it seems simple: tie financial access to education and contribution. But then I think of my sister. I think of my wife. Neither would traditionally be viewed as economic value creators, but their impact is immeasurable. My wife remembers the small things, like how much someone loves their spouse or how proud they are of their children. People open up to her quickly because she sees them fully. She supports me, my pace, my ambition, and my goals for our family, with unwavering steadiness. That support is the foundation of my professional output. My sister is fiercely loyal. Protective in a way only an older sister can be. She keeps our family calendar full of birthdays and barbecues and makes sure the traditions stay alive. She is the type who would have buried the kid who bullied me in fifth grade in her backyard, figuratively of course (I think). She is not building economic value, but she is the glue that keeps our family connected. I feel like every family has someone like this in the ranks. So, how do you account for people like that in a legacy plan? In my experience, most families do not. They overlook the glue, and sometimes even diminish them, because they do not directly generate returns. But here is the truth: without them, there is no legacy. This brings us to a better framework. You cannot build an enduring estate plan by tying access solely to individual performance or personal milestones. Instead, structure it so that the family, as a collective, needs to achieve a shared level of economic growth or purpose. Treat the family like a business. Create roles. Create purpose. Measure collective outcomes rather than individual ones. Think of it like this: • One family member might act as the CEO, full of ambition and ideas for new investments. • Another might serve as CFO, managing risk and asking hard questions. • The glue, someone like my wife or sister, becomes the Chief People Officer. They ensure alignment, trust, and continuity. As a unit, the family sets a return goal, perhaps 7 or 8 percent across the portfolio, and holds one another accountable. If the CEO wants to go big on a high-risk venture, the CFO pressure-tests the numbers, and the glue asks the critical questions: Does this serve our long-term legacy? Does it align with who we are? Maybe the family moves forward, but at a scale that balances ambition with preservation. This kind of governance structure gives everyone a seat at the table and gives the glue a real, respected voice. Now, imagine a family full of glue types. No flashy business builders, just emotionally intelligent people who can sniff out bad advisors, build real teams, and create an environment of trust. In many ways, this might be the most resilient family structure of all. At the end of the day, compounding a legacy does not just happen in markets. It happens at dinner tables. It happens in how you see and value each other, fully. As I tell my sister: You make sure everyone comes to the table. I will make sure there is always food on it.
Yahoo
24-06-2025
- Business
- Yahoo
Mountain America Foundation and Snow College Announce Winners of First-Generation Student Scholarship
Five rural Utah students awarded scholarships to support academic journey and student success A Media Snippet accompanying this announcement is available in this link. EPHRAIM, Utah, June 24, 2025 (GLOBE NEWSWIRE) -- Mountain America Credit Union, through the Mountain America Foundation and Snow College, have announced the five recipients of the Mountain America First-Generation College Student Scholarship for the 2025–2026 academic year. Each winner will receive a $1,000 scholarship to support their higher education goals at Snow College. This newly established program reflects a joint commitment to improving educational access for first-generation college students. The scholarship is awarded to students who are the first in their families to attend college and who demonstrate strong academic potential, leadership qualities, and dedication to their communities. 'These five students reflect the impressive characteristics we hoped to highlight through this partnership,' said Suzanne Oliver, executive director of the Mountain America Foundation. 'Their stories and aspirations embody the spirit of this scholarship—resilience, ambition, and a commitment to building brighter futures not only for themselves, but for their families and communities.' The five scholarship winners for the 2025–2026 academic year are: Malia Anderson, Snow College Jeily Aquino, Piute High School Kamron A. Byrd, Snow College Adam Fitch, Manti High School Iliana Rojas Vega, Snow College Sharlene Wells, senior vice president of public relations and organizational communications at Mountain America, presented certificates to recipients on June 12 to celebrate and highlight this achievement. Representatives from Snow College were also in attendance, including Brittany Cornelsen, director of student connection center and head of first year experience; Fernando Montaño, multicultural education and recruitment coordinator; and Cameron Brooks, executive director of advancement and government relations. This year's announcement marks the successful launch of the Mountain America First-Generation College Student Scholarship program. With shared values of service, education, and community uplift, the Mountain America Foundation and Snow College are proud to support underrepresented students in reaching their educational goals. To learn more about Mountain America's community involvement, visit About Mountain America Credit Union With more than 1 million members and $20 billion in assets, Mountain America Credit Union helps its members define and achieve their financial dreams. Mountain America provides consumers and businesses with a variety of convenient, flexible products and services, as well as sound, timely advice. Members enjoy access to secure, cutting-edge mobile banking technology, over 100 branches across multiple states, and more than 50,000 surcharge-free ATMs. Mountain America—guiding you forward. Learn more at CONTACT: Contact: publicrelations@ in to access your portfolio
Yahoo
24-06-2025
- Business
- Yahoo
Mountain America Foundation and Snow College Announce Winners of First-Generation Student Scholarship
Five rural Utah students awarded scholarships to support academic journey and student success A Media Snippet accompanying this announcement is available in this link. EPHRAIM, Utah, June 24, 2025 (GLOBE NEWSWIRE) -- Mountain America Credit Union, through the Mountain America Foundation and Snow College, have announced the five recipients of the Mountain America First-Generation College Student Scholarship for the 2025–2026 academic year. Each winner will receive a $1,000 scholarship to support their higher education goals at Snow College. This newly established program reflects a joint commitment to improving educational access for first-generation college students. The scholarship is awarded to students who are the first in their families to attend college and who demonstrate strong academic potential, leadership qualities, and dedication to their communities. 'These five students reflect the impressive characteristics we hoped to highlight through this partnership,' said Suzanne Oliver, executive director of the Mountain America Foundation. 'Their stories and aspirations embody the spirit of this scholarship—resilience, ambition, and a commitment to building brighter futures not only for themselves, but for their families and communities.' The five scholarship winners for the 2025–2026 academic year are: Malia Anderson, Snow College Jeily Aquino, Piute High School Kamron A. Byrd, Snow College Adam Fitch, Manti High School Iliana Rojas Vega, Snow College Sharlene Wells, senior vice president of public relations and organizational communications at Mountain America, presented certificates to recipients on June 12 to celebrate and highlight this achievement. Representatives from Snow College were also in attendance, including Brittany Cornelsen, director of student connection center and head of first year experience; Fernando Montaño, multicultural education and recruitment coordinator; and Cameron Brooks, executive director of advancement and government relations. This year's announcement marks the successful launch of the Mountain America First-Generation College Student Scholarship program. With shared values of service, education, and community uplift, the Mountain America Foundation and Snow College are proud to support underrepresented students in reaching their educational goals. To learn more about Mountain America's community involvement, visit About Mountain America Credit Union With more than 1 million members and $20 billion in assets, Mountain America Credit Union helps its members define and achieve their financial dreams. Mountain America provides consumers and businesses with a variety of convenient, flexible products and services, as well as sound, timely advice. Members enjoy access to secure, cutting-edge mobile banking technology, over 100 branches across multiple states, and more than 50,000 surcharge-free ATMs. Mountain America—guiding you forward. Learn more at CONTACT: Contact: publicrelations@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
