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AUA Alumni Award First Student Scholarship from Alumni Endowment Fund

YEREVAN, Armenia – The American University of Armenia (AUA) is pleased to announce the first student to benefit from the Alumni Endowment Fund.

The endowment was established in 2013 on the occasion of the 20th anniversary reunion of AUA’s class of 1993. This year, the classes of 1994, 2004, and 2009 came together to celebrate their 20, 10, and 5 year reunions, respectively, and succeeded in making a generous contribution to the endowment. Together, the four classes raised over $55,000, which allowed for the funding of the first student scholarship.

As of September 30, 2014, after the first scholarship was awarded, the market value of the endowment saw a very healthy growth, reaching $60,504. This reflects the high-caliber technical expertise of the University of California, which manages the endowment.

The first scholarship recipient is Armen Pirumyan, a 23 year old MBA student.

After obtaining his bachelor’s degree in Policy and Forecasting from the Armenian State University of Economics, Armen saw a great need for well-prepared managers in Armenia who could increase the country’s competitiveness within the international market.

Born and raised in Yerevan, Armen has a very good understanding of the challenges that Armenia faces. His intent to become a valuable professional for his country was one of the main reasons Armen chose to pursue his master’s degree at AUA. “From the beginning, I knew AUA was different because everyone I saw was different. Now, whenever I meet someone, I encourage them to apply to AUA. It’s the first thing I say. AUA is an important institution because of its integrity, high standards, and ethical code of conduct,” he said.

Armen has big plans after graduation, which include establishing a start-up for consulting, management, and finance. Before that, however, he wants to gain work experience at an established Armenian company in order to continue learning about his field.

When Armen first heard that he was the scholarship recipient, he felt a true sense of happiness and accomplishment. The first thing he did was tell his parents, who immediately started celebrating. The scholarship, which covers 50% of his tuition, has put Armen on the path to becoming the professional he aspires to be.

“The alumni scholarship means much more than just financial support; it also gives me moral support. It is important for me to know that someone cares about my education because it reinforces my passion to strive for excellence. I want to study harder than ever now,” he said.

The generous contribution from AUA alumni also serves as an inspirational gesture for Armen – one that he will not easily forget. He said, “I want to thank the alumni for enabling me to be a part of the AUA community. I really never thought that people could help each other in this way. I’ve already decided that, in the future, I will contribute to the AUA community and allow other students to experience the wonderful feeling of being a part of the American University of Armenia.”

Founded in 1991, the American University of Armenia (AUA) is a private, independent university located in Yerevan, Armenia and affiliated with the University of California. AUA provides a global education in Armenia and the region, offering high-quality, graduate and undergraduate studies, encouraging civic engagement, and promoting public service and democratic values.

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