The Importance of Academic Scholarships: Investing in Future Hospitality Leaders

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Written By: Susan Savkov

It is considered a commonly known reality that a college education can be a valuable gateway to a higher salary, an increased likelihood of employment, better job security, and even greater job satisfaction. Most people would say that a college degree is more crucial now than ever before in today’s competitive, constantly evolving world — especially in the hospitality industry, where technological and other advancements are now driving success, customer satisfaction and the future.

A college education still comes with a hefty price tag, though. According to the College Board, the average cost for tuition and fees for an in-state public college for the 2017-2018 academic year averaged around $25,000 while the costs at a private college averaged close to a staggering $51,000. [1]

How do students pay for their education? Many turn to financial aid or take on student loan debt to cover the costs of tuition and fees.

According to Make Lemonade, there are currently more than 44 million borrowers with $1.3 trillion in student loan debt in the United States alone. Student loan debt is second only to mortgage debt for consumers, higher than both credit cards and auto loans. [2]

To alleviate student loan debt and mitigate the high costs associated with obtaining their degree, students look to scholarships like those offered by HFTP, funded by the generosity of our members.

Advance Future Hospitality Professionals to Advance the Industry

When you donate to the HFTP General Scholarship Fund, you are not only helping to provide financial assistance to a student and aspiring hospitality professional — you are also telling that individual that you believe in them and what their education can do for their future and the future of the hospitality industry.

Aditya Prabaswara — meetings and events manager at The Westin Harbour Castle in Toronto, Canada and graduate of the Conrad N. Hilton College of Hotel and Restaurant Management  — is one such scholarship recipient who remains grateful years later for the award he received. In November 2016, he wrote:

“I was a beneficiary of the Charles E. Fitzsimmons, CHAE Endowed Scholarship. It is a scholarship that HFTP offers to hotel and restaurant management majors, and I can safely say it made a huge difference in my hospitality career.

“Our industry grows with the encouragement and mentorship of those just starting out. Every time I am introduced to a hospitality student, I am reminded of what HFTP gave me when I was in my still-squeaky shoes: encouragement, validation and more importantly an opportunity. Affirmations and gestures that say ‘yes, you are on the right track’ go a long way. It does not matter if the reminder is big or small, so long as it is there.

“In 2006, I thanked Mr. Frank Wolfe, CEO at HFTP, personally for my scholarship. I remember the feeling of validation that it gave me as my career was getting off the ground. Ten years later, I have the opportunity to say thank you again. Not as a student, but as a manager.”

Join Other HFTP Members Who Have Contributed and Give Today

The core purpose of HFTP is to lead and advance the hospitality profession by providing a forum for continuous learning and knowledge sharing. With your support, HFTP will be able to further this purpose and cultivate the next generation of hospitality professionals through education.

Help us reach our goal by October 31, 2018!

To donate online, log in to your HFTP online account, then click on the “My Giving” option located in the right hand menu. From there you will be taken to “Your Giving Summary” page where you click on the green “Donate Now” button on the right. Follow the steps to add your donation amount and then checkout.

You may also set up a recurring donation that will automatically debit the amount you choose each month into the HFTP General Scholarship Fund.

If you are located in the United States, you have the alternative option to mail a check to:
c/o HFTP, 11709 Boulder Lane Ste. 110, Austin TX USA 78726. (Please note The HFTP General Scholarship Fund on the check.)

Have questions about HFTP’s scholarships and endowments program? Contact HFTP at +1 (800) 646-4387 or send an email to foundation@hftp.org.

Susan Savkov is the HFTP Membership Marketing Manager. Contact Susan at Susan.Savkov@hftp.org or +1 (512) 220-4028.

 

 

[1] https://www.collegedata.com/cs/content/content_payarticle_tmpl.jhtml?articleId=10064
[2] https://www.makelemonade.co/student-loan-debt-statistics/

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