Sloan Foundation to Support PSM Rebate Program
The Alfred P. Sloan Foundation awarded the Professional Science Master's (PSM) Office at KGI funding to institute a rebate program that provides affiliation fee rebates to new PSM programs, as well as membership dues rebates for new institutional members of the National Professional Science Master's Association (NPSMA). Since 1997, the Sloan Foundation has provided funding to academic institutions to support the development of the PSM degree, which was designed to allow students to pursue advanced training in science or mathematics, while simultaneously developing workplace skills that are highly valued by employers.
The PSM affiliation process was subsequently developed by the Council of Graduate Schools (CGS) to ensure that PSM programs meet minimum requirements for curricular content in science, engineering, technology, or mathematics (STEM) as well as professional skills content and employer engagement. In January 2012, KGI was selected by CGS to administer the PSM affiliation process and oversee the organization's website. KGI assumed responsibility for the review process and the website and established the new PSM Office on its campus in July 2012. The PSM Office has implemented a $1500 fee for the affiliation review process for new PSM program applications.
"Challenging economic conditions and budget-cutting measures at many U.S. universities have led to financial constraints that impact both existing and new PSM programs," said James Sterling, VP for Academic Affairs at KGI. "We are grateful to the Sloan Foundation for their vision in launching the PSM movement and for their support of this rebate program that will ease the financial burden of affiliation fees and membership dues."
The rebate program will launch November 1, 2012 and will be phased-out by the end of 2015. For more information, please contact PSM Office Manager Lindsay Janssen.