Oct. 10, 2022

South Dakota’s Freedom Scholarship just got a major new contribution.

First Premier Bank and Premier Bankcard will add $50 million to the scholarship’s endowment. The Freedom Scholarship is the state’s first public-private needs-based scholarship.

Two years ago, the Premier organizations donated $100 million to launch the initiative, which now has reached $225 million, with additional gifts from Avera Health, Sanford Health and the state of South Dakota. The funds are managed by the South Dakota Community Foundation and the Freedom Scholarship board of directors.

First Premier CEO Dana Dykhouse, who also serves on the Freedom Scholarship board, said in a statement that the program has been “a tremendous success and that South Dakota students are already benefiting from the growing endowment.”

Almost 1,300 students accepted Freedom Scholarships during its first year, Dykhouse said.

“The awards ranged from $1,500 to $5,000, and each allowed a South Dakota student to pursue his or her dreams. It truly made a difference in the lives of many, and I could not be prouder of the organizations that stepped up and made this program happen.”

Earlier this year, the Freedom Scholarship announced an initial allocation of $5.1 million to be distributed to eligible South Dakota institutions, beginning this fall. Two months into the fall semester, the scholarship’s impact is being realized by South Dakota students who need it most, participants said.

“This scholarship has allowed me to have a lot more financial freedom and is very amazing because it helps more than just Sioux Falls – it’s the community of South Dakota, “ said Merci Arbach, SDSU student and Sioux Falls Washington graduate. “I don’t actually have words to express my gratitude other than thank you.”

The Freedom Scholarship is a statewide effort to encourage students of all economic backgrounds to live and work in South Dakota after graduation. Students or parents interested in learning more can click here or talk to one of the 11 participating South Dakota colleges and universities.

“Premier’s earlier contributions to this scholarship and their commitment today are incredible for our state’s young people seeking baccalaureate degrees.” said Elli Haerter, Freedom Scholarship coordinator. ”I hope other businesses and organizations in South Dakota will join this effort to support need-based scholarships that build our future workforce and invite our graduates to stay here and make South Dakota even better.”

South Dakota’s first need-based scholarship to launch for next school year