Fifth Third Bank Grant Funding

January 23, 2001
RELEASE ON RECEIPT

OBERLIN COLLEGE RECEIVES $100,000 GRANT FROM FIFTH THIRD BANK

OBERLIN, OHIO--Oberlin College has received a $25,000 check--the first installment of a $100,000 grant from The Charles E. Schell Foundation--to provide financial help to qualified students. The grant funds will assist Oberlin in providing interest-free loans to undergraduates. As they repay the funds, grant money is then made available to future students on a revolving fund basis, according to College officials.

The Charles E. Schell Foundation was established in 1938 to provide the citizens of Ohio, Kentucky, and West Virginia with special funding to pursue a "practical education." Fifth Third Bank, which serves as sole trustee for The Charles E. Schell Foundation, manages over 40 private foundations created by persons in the community through the Fifth Third Foundation Office. Fifth Third uses the income from these charitable foundations carefully and selects programs consistent with the intentions of each of the original benefactors.

Fifth Third officials say the grant for student loans is an extension of its overall mission to make a positive impact on the communities they serve. "Fifth Third is committed to bettering the education of today’s student, and we are excited and pleased to provide loan funds for students in need," states Robert J. King, Jr., president and chief executive officer.

Oberlin is an independent, undergraduate liberal arts college whose approximately 2,900 students are enrolled in two divisions, the College of Arts and Science and the Conservatory of Music. More Oberlin graduates earn Ph.D.s than do graduates of any other predominately undergraduate institution.

Fifth Third Bank, northeastern Ohio, with $3.7 billion in assets, has 75 full-service banking centers, including 21 seven-day-a-week Bank Mart locations inside select Finast Friendly Markets and 117 Jeanie ATMs. One of 14 affiliates of Fifth Third Bancorp--Fifth Third Bank, northeastern Ohio, serves Cuyahoga, Lake, Lorain, Medina, Portage, and Summit counties.

Media Contact: Betty Gabrielli 1/23/01 #51 bg

Oberlin College is an independent undergraduate liberal arts college. Its 2600 students are enrolled in two divisions, the College of Arts and Sciences and the Conservatory of Music. More Oberlin graduates earn Ph.D's than do graduates of any other predominantly undergraduate institution. Oberlin's Allen Art Museum is ranked first among college art museums, and its library is unequaled among college libraries for its depth and range of resources. Located 35 miles southwest of Cleveland, Ohio, Oberlin College admitted women since its beginning in 1833 and is an historical leader in the education of African Americans.

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