On Wednesday, September 14, American Electric Power Foundation representatives visited the Alice Lloyd College campus to present the college with a $250,000 check to help support the Caney Cottage Scholarship Program. This program is the only one of its kind in the nation. It provides financial assistance to ALC graduates as they pursue advanced degrees in areas such as medicine, law, business, and education. If students are attending graduate school at the University of Kentucky, they have the added benefit of living at the Caney Cottage rent and utility free. This facility is a dormitory, located on the UK campus, which is owned and operated by ALC.
“We are pleased the American Electric Power Foundation has chosen to support Alice Lloyd College and the college’s Caney Scholarship Program. This program should benefit eastern Kentucky in so many ways, but particularly by investing in the region’s most valuable resource, its people,” said Greg Pauley, president and COO of Kentucky Power, who represented the Foundation at the check presentation. This grant will be used to help provide scholarships for students in the Caney Scholarship Program, as well as contribute much needed funds to repair and update the Caney Cottage dormitory in Lexington.
ALC President Joe Stepp sees this grant as a blessing. “We currently have 55 students who are receiving financial assistance through the Caney Scholarship Program, and this generous grant from AEP will allow us to continue helping those students with a desire to further their education. We are thankful that the AEP Foundation has selected our program to sponsor, because we feel that education is the best method of improving our region.”
Following the check presentation, Greg Pauley reflected on the benefits that both Alice Lloyd and AEP will reap from this partnership. “Alice Lloyd College provides an outstanding education for Appalachian students and makes a quality, advanced degree a reality for many students who might not otherwise have an opportunity to pursue one. The grant will support the college’s mission of educating students—in this case with advanced degrees—who will return to eastern Kentucky and build careers, business opportunities, and positive futures for themselves and others. The American Electric Power Foundation has a keen interest in advancing education in the areas that American Electric Power and its various operating companies—like Kentucky Power—serve. The Foundation views grants in this area as an investment in future growth and opportunity,” Pauley said.