Total number of SHEFA graduates unknown as yet

Since the Saipan Higher Education Financial Assistance Program began giving out funds in 2004, it has yet to track down all its beneficiary graduates to ensure that they stay and work in the CNMI for at least a year in exchange for receiving financial assistance to complete their studies.

SHEFA board member Howard I. Macaranas, a guest speaker at yesterday’s Rotary Club of Saipan meeting at the Hyatt Regency, said that over 800 students from Saipan have so far been awarded financial assistance to pursue postsecondary education on island and in the United States under the program.

Macaranas said they have yet to come up with an official list of SHEFA graduates since the inception of the program so they could be made to serve the local community as required of them in exchange for their scholarship.

The value of SHEFA grants has been increasing every year until it reached over $1.65 million in Fall 2008.

In Fall 2008, SHEFA granted $1,653,400 in scholarship to 431 students pursuing postsecondary education.

“The Fall 2008 statistics is in sharp contrast to the first batch of awardees in Fall 2004 with 187 students and 116 in the Spring 2005 for a total investment of $756,500,” Macaranas said.

Almost half of the Fall 2008 scholars have maintained or exceeded a grade point average of 3.5 on a scale of 4 in the previous semester/quarter, he added.

The surge in the number of scholars, according to Macaranas, could be attributed to SHEFA’s annual outreach activities.

In yesterday’s Rotary presentation, Macaranas called on the local business community yesterday to help train and hire scholars.

“I cannot stress enough our desire for students to remain at home or return home to Saipan and provide valuable services to the local community in the same fine tradition of the Saipan Rotary Club,” Macaranas said.

Poker funding and loan program

SHEFA has not implemented its loan program since its inception due to poker license funding limitations and the need to refine the implementation process.

“More importantly, however, this lack of implementation is dye largely to the uncertainties and limitations in SHEFA funding, which is sourced solely from fees collected from the Saipan poker licenses,” said Macaranas.

Macaranas, who is also the director of the Office on Aging, said the board will deliberate on the SHEFA loan program this week.

“I anticipate the board will likely adopt some policy guidelines for publication in the Commonwealth Register. Moreover, the municipal postsecondary loan assistance program would involve working in partnership with local private lending institutions and banks,” he said.

He added that SHEFA stands ready to work closely with the Rotary Club or individual members in coordinating employment referrals, preparation of employment applications and supporting documents, job interviews and placements, as well as employment follow-up activities of these graduates.

This is done to ensure that the requirements and expectations demanded of SHEFA scholars are monitored and properly addressed in a timely manner.