Doyle scholarship discontinued for new applicants

Over the years, the venerated Doyle scholarship has been given to literally thousands of high school seniors, helping them attend Santa Rosa Junior College. But this year, new applicants won’t be able to depend on that money as the scholarship has been discontinued for new applicants.
The indefinite suspension of the popular Doyle scholarship program, funded by Exchange Bank stock dividends since the early 1950s, has put a definite crimp in many students’ plans for college.
“The students are very aware that the loss of this scholarship could affect their schooling,” said Kathy Summers, vice principal at Sonoma Valley High School. “They’ve seen siblings and friends receive funding and now they know that their options are a bit more limited.”
It should be noted that Doyles for currently enrolled students who have scholarships from last year will be renewed but new applications have been discontinued.
Summers said that it is impossible to predict how many seniors would have applied for the scholarship this year. Her staff recognized the possibility of losing the Doyle scholarships and didn’t hold the traditional workshops that helped students fill out the necessary forms.
However, last year 123 graduating seniors received the scholarship to the tune of approximately $250,000.
“The loss of the Doyle scholarships is going to be especially hard on those students who plan on it to attend the JC and help cover college expenses,” said Pam Martens, superintendent of the Sonoma Valley Unified School District.
In the 2007-08 school year, SRJC awarded nearly $4.9 million in scholarships, including Doyle awards. The school alone accounted for 27 percent of the $17.9 million in scholarships throughout the community college system. “We are number one because of the Doyle program,” said Kristin Shear, SRJC’s director of student financial services.
About 3,060 full-time students currently are receiving Doyle scholarships, and an estimated 1,100 to 1,200 students will be eligible to renew them next school year, drawn from a fund balance of about $1 million, officials said.
But with Exchange Bank’s announcement last week that it is unlikely to pay stock dividends in 2009, SRJC cut off new Doyle awards for next school year.
Established by Exchange Bank co-founder Frank Doyle as part of his will, the Doyle trust is funded by dividends on just over half the bank’s stock. The cash flow to students attending SRJC had been constant since 1950, until the suspension was imposed.
“We’re encouraging seniors to apply for every kind of scholarship and financial aid available,” said Summers, whos notes, “Applications can still be submitted for many different scholarships.”