Students attending South Dakota's six public universities will now have a huge incentive to stay in the state with a new need-based scholarship program. $50 million has been gifted by First PREMIER Bank, PREMIER Bankcard, and T. Denny Sanford to jump-start the program.

In addition to the gift, it is hoped that it will be the start of what will be a $200 million endowment to fund future need-based scholarships in perpetuity, according to a recent news release.

Schools in South Dakota include South Dakota State University, University of South Dakota, Dakota State University, Black Hills State University, Northern State University, and the South Dakota School of Mines and Technology, Augustana University, and the University of Sioux Falls.

What does South Dakota Governor Kristi Noem have to say about this news? “Today’s announcement is historic for South Dakota and will help us retain talented young people in our state for generations. We’ve identified the need for this type of scholarship for years, and I'm asking the legislature to match this incredibly generous gift so that we can continue to make South Dakota stronger for our kids and grandkids.”

And what will students need to know who qualifies for the scholarships? Recipients will be required to work in South Dakota for three years following graduation.

Source: First PREMIER Bank

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