Capstone Establishes Seed Fund to Help Students Afford Higher Education

by Katie Sloan

Birmingham, Ala. — Capstone Development Partners has launched a new corporate program named Stepstone in support of improving access to higher education. An initial investment of $100,000 was seed-funded by principals of Capstone in December 2019 and has been annually augmented through the contribution of a percentage of the Birmingham-based company’s profits. This money will be used to fund scholarships placed with institutions and managed by foundations or college and university administrators to provide housing or tuition assistance to students who have a compelling financial need.

The first Stepstone scholarship is currently being arranged by Arizona State University (ASU), where Capstone and the ASU Foundation are establishing a need-based student housing assistance fund that is focused on supporting a diverse student population for the next decade and beyond. In November 2020, Capstone also utilized Stepstone funds to assist Cornish College of the Arts students through a $10,000 contribution to a tuition assistance fund established and managed by the college to help students afford tuition in a COVID-impacted environment. 

“The affordability of and accessibility to higher education is a core belief and value of Capstone and a responsibility that we take seriously,” says Bruce McKee, principal Capstone. “Through Stepstone, we can actively demonstrate our commitment to these objectives and hopefully help students afford an education and quality housing, thereby reducing housing and food insecurities.”

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