Healthcare Management Graduate Scholarship – Foster G. McGaw
The Foster G. McGaw Graduate Student Scholarship was established in 1986 to honor Foster G. McGaw. It was established by the Foundation of the American College of Healthcare Executives (ACHE) and endowed by McGaw’s heirs. ACHE is a society of professional healthcare service executives and is renowned for its prestigious credentialing and educational programs. The intended purpose of the endowment is to provide financial assistance to ACHE’s student associates during their final year of studies. ACHE hopes offering financial aid assistance to its student associates will prove the organization’s commitment to providing exceptional value to its members.
Why ACHE honors Foster McGaw
ACHE considers Mr. McGaw to be an ideal role model for their members. Foster McGaw (1897-1986) helped to establish the current standards that the hospital supply industry operates under. Foster established the American Hospital Supply Corporation in 1922, when he was only 25 years old. By 1956, McGaw’s company was bringing in around $65 million in sales revenue. The company’s sales revenues grew to over $2 billion in 1979 and were over $3.4 billion in 1984.
Mr. McGaw and his wife, Mary, were also well-known philanthropists. They have donated over $100 million to various cultural, social and religious organizations. However, their greatest contributions have been made to medical institutions and universities. Chicago’s Northwestern University especially benefited from the friendship between Foster and the university’s president, J. Roscoe Miller. Numerous building construction projects on the university’s Evanston campus were funded by the McGaw family. Due to their fondness for Northwestern University, all of Foster’s personal and business records have been placed in the university’s archive repository.
The Foster G. McGaw awardment is $5,000. It is designated for use by ACHE’s student associates to offset their expenses, tuition and student loans. The students must be entering their final year of classroom studies in a healthcare management or healthcare administration graduate program.
Eligibility criteria and requirements
As is true with any financial aid program, ACHE has placed certain eligibility requirements on the Foster G. McGaw scholarship. These criterion and requirements are:
- Must be a student associate in good standing of ACHE – Student associate status for ACHE membership requires being verified as being enrolled full-time or part-time in a 4-year health service administration field that leads to a bachelor’s degree or be a graduate student in such a program. This enrollment must be at an institute or in a program that holds a minimum of a regional accreditation status. To be in good standing, all ACHE fees/dues must be paid up-to-date.
- Must be enrolled for upcoming fall term as a full-time student entering final year of classroom work in a healthcare management or healthcare administration graduate program (i.e. MBA, MHA, or MPH). Student may not have entered residency phase of study or completed classroom study yet. PhD students are not eligible.
- Must demonstrate financial need – remember to account for family’s income and expenses. Also remember to express what impact receiving and not receiving the scholarship will have on you and the community.
- Must be a citizen of the United States or Canada.
- Must not have already received prior financial aid assistance through the McGaw or Dent scholarship programs. This is a non-renewable scholarship, so can only be used once.
Submission of application
All applications must be submitted between January 1st and March 30th of the final enrollment year. It is preferably submitted as a single packet containing all the requested materials since late or incomplete applications are not taken into consideration. This single packet should contain:
- Completed application and checklist
- Current curriculum vitae ( may substitute with a resume)
- Official undergraduate and graduate transcripts
- Three letters of recommendations, including one from the program director
- Essay ( should be typed and one to two pages long)
Recipients of the Foster G. McGaw scholarship will be notified no later than July 31st. Applicants should contact ACHE’s Customer Service Center to get up-to-date contact information before submitting the application packet. ACHE’s customer service center can also provide interested students with current information on how to become a student associate in order to become eligible for their scholarships. ACHE can be contacted by calling their customer service center at (312) 424-9400 or by visiting their scholarship page.