Knowledge Park Company Funds Business/Engineering Scholarship
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| The CMI EPTI Trustee Scholarship will support students in the Interdisciplinary Business with Engineering Studies (IBE) program. From left are Ralph Ford, director, School of Engineering, Penn State Behrend; Daniel F. Levstek, senior vice president, commercial and finance, CMI EPTI; John Magenau, director, Sam and Irene Black School of Business, Penn State Behrend; Yvan R. Moosmann, chief executive officer, CMI EPTI; and Diane Parente, professor of management and IBE program chair, Penn State Behrend. |
CMI EPTI, LLC has established the first trustee scholarship at Penn State Erie, The Behrend College, to support students enrolled in the college’s collaborative business and engineering major.
The CMI EPTI Trustee Scholarship gives first preference to undergraduate students pursuing a degree in Interdisciplinary Business with Engineering Studies (IBE), Penn State Behrend’s most recent baccalaureate degree. The IBE program, offered through the Sam and Irene Black School of Business in conjunction with the School of Engineering, contains both business and engineering course content. It is the only degree of its kind offered within the University and one of a few nationwide. Lehigh University in Bethlehem, Pa., and Clarkson University in Potsdam, N.Y., have similar programs.
“Individuals who have both business and engineering skill sets are uniquely positioned to contribute on the job. These skill sets allow CMI EPTI to provide technically sound equipment while still maintaining our competitive position,” said Daniel F. Levstek, senior vice president of commercial and finance for CMI EPTI. “Penn State Behrend is helping to lead the way academically for these future employees, and we are happy to assist current students financially in that process.”
Located in Knowledge Park adjacent to Penn State Behrend, CMI EPTI is a world leader in the design of heat-recovery steam generators. The company has a 160-year history in Erie.
The CMI EPTI Trustee Scholarship marks Penn State Behrend’s 25th trustee scholarship since the program was launched in 2002. According to Dr. Jack Burke, chancellor of Penn State Behrend, the positive response to establishing trustee matching scholarships has accounted for a growth in scholarship aid.
“Scholarships become even more important during recessionary times as students and their families are affected. With the help of companies and individuals alike who establish Trustee Scholarships, we can work to meet our students’ needs for assistance,” Burke said.
The Trustee Scholarship program is part of an effort by Penn State to secure private support University-wide for new undergraduate scholarships. This scholarship program has a unique matching component to maximize these efforts—the University matches the income from the gift annually, doubling the financial impact of the scholarship. A $50,000 gift for this purpose, which might generate $2,500 per year or 5 percent in spendable income, is matched by an additional 5 percent from the University every year in perpetuity.