Economy may be shrinking scholarships

FORT WAYNE, Ind. (AP) - The struggling economy and volatile stock market may be shrinking the number and value of college scholarships.

The Community Foundation of Greater Fort Wayne holds funds for about 200 scholarships, ranging from $250 to $30,000 a year. But the foundation's assets have dropped recently, so there are fewer earnings to use for scholarships.

Foundation Executive Director David Bennett says there will be a decline in the scholarships awarded.

Endowments often invest a large sum of money and use the earnings from the investments to pay for scholarships.

Information from: The Journal Gazette, http://www.journalgazette.net