10:44,
YEREVAN, Armenia – Since its inception, education has always been one of the core values of the H. Hovnanian Family Foundation. For over a decade, the Foundation has supported Armenian and non-Armenian recipients with educational scholarships to attain a quality education at both institutions of higher learning in Armenia as well as in the United States.
As part of its scholarship program, the Foundation created an endowment fund at Villanova University, named after the late Hirair Hovnanian, a Villanova alumnus (’56 COE), and the founder of The H. Hovnanian Family Foundation. The creation of the Hovnanian Scholarship fund was Mr. Hovnanian’s way of paying it forward for others to have the same opportunity he was given to get a top-notch education that helped propel his success as a master builder and entrepreneur.
At just over $3 million total, the endowment allows undergraduate students of Armenian descent, who gain acceptance to Villanova University on a full-time basis, to apply for a scholarship. Returning undergraduates are considered for scholarship renewal based on academic performance and financial need. Applicants are evaluated based on their academic achievements, leadership skills, college testing scores, as well as financial need. Recipients of a Hovnanian Scholarship can use the awarded funds to cover eligible expenses such as tuition, room and board. For the school year 2022-2023, a total of 22 scholarships amounting to $128,558 were awarded, of which 16 were for students of Armenian descent.
The Armenian Students Organization at Villanova is thriving, now 25 students strong. Isabella Balian, 20, from Winchester, MA, is a Hovnanian scholarship recipient. The class of 2025 student notes, “My grandfather escaped the Armenian Genocide as a child and migrated to Lebanon where he started his family. From Lebanon, my dad and his family immigrated to America at age six. I have always held strong to the values of faith and perseverance of my ancestors, and at Villanova I hope to continue spreading the Armenian culture and hope that their generation so boldly established”. Isabella stays true to her words by taking on a leadership role within the Armenian Students Association on campus, which is doing incredible work educating Villanovans on issues important to Armenians and the Republic of Armenia.
Soon to be in the graduating class of 2024 is Michael Stamboulian, 21, from Robbinsville, NJ, is thankful for the assistance the scholarship afforded to him. “I am 100% Armenian, and my family and I take immense pride of our ethnicity. I love sharing my identity and Armenian history with others. The Hovnanian family scholarship program at Villanova University is a testament to the loving nature and sense of community that exists with Armenians. Two of the things that make Villanova most attractive to me are the high-quality academics and the strong community. Like Armenians, Villanovans possess a powerful sense of community. I am proud to be an Armenian Villanovan!”
In addition to the annual scholarships provided to Villanova students, the Foundation donated $10 million to Villanova University in the spring of 2022 to support several significant academic initiatives, including the continued modernization of Falvey Library. In recognition of this gift, a building on campus in Villanova’s newest residences, known as The Commons, is now named “Hovnanian Hall.”
Since the Foundation’s establishment in 1986, H. Hovnanian Family Foundation has earmarked over $75 million to hundreds of initiatives and projects for charitable, educational, scientific, cultural, and other related purposes with a primary focus on assisting Armenian communities worldwide as well as organizations in Monmouth and Ocean Counties in the state of New Jersey
