The Ripple Effect of Scholarships
They come from New England, Atlanta, Dallas, and Southern California. They come from big cities and small towns across the country. And they come from small villages in South Africa.
They come with ambition and drive. They come with diverse backgrounds and perspectives. And they come with their hopes and dreams.
They are Babson College scholarship recipients.
Scholarships are an important component of the Babson experience—for students and for the College. They help level the playing field, removing or lessening the financial burden to ensure Babson enrolls the most qualified students regardless of economic circumstances, creating a holistically diverse campus.
BABSON MAGAZINE: Read the complete Spring 2024 issue.
Scholarships help the College’s continued commitment to meeting 100% of undergraduate students’ demonstrated financial need in their first year. That commitment increases opportunities for more first-generation students and for highly talented international students through the need-based Global Scholars Program.
Currently, 461 students—undergraduate and graduate—attend Babson due, at least in part, to the financial support provided by donor-funded scholarships. There are nearly 200 need- and merit-based scholarships funded by the College and by donors—alumni and others—committed to investing in the future through higher education.
“Education is the number one way to change your status, to reach whatever you want to achieve,” says Madison Grogan ’24, one of the inaugural Arthur M. Blank School for Entrepreneurial Leadership Scholars, “and I think that education is the main way to change somebody’s life.”
Ask recipients about their scholarship’s impact, and it’s not long before they call it “life changing.” Ask them about the moment they received the scholarship, and some liken it to winning the lottery, others a simple sense of relief that college—and more specifically, a Babson education—would even be possible. They recognize it as much more than a gift, though; they see it as an investment in them and their future.
“Somebody believes in you, probably more than you did yourself,” says Luz Torres-Huerta ’24, a Roger and Rosemary Enrico Dallas Scholar. “In that sense, I’m always going be grateful, because it literally changed the course of my life.”
The impact ripples beyond their time and experiences at Babson, propelled with a shared sense of responsibility to give back, changing not only their lives but also those around them.
“I was given an incredible opportunity that changed my life,” Grogan says. “So, I consider it my duty to try to pass that on in the future.”
They come to Babson as eager and grateful students who are determined to maximize their gift and pursue every opportunity that otherwise would not have been afforded to them. They depart as entrepreneurial leaders empowered and inspired to impact their communities and the world.
Here, we present the stories of six exemplary Babson students whose lives have been impacted by their scholarship. As these six scholars graduate this spring, their stories—and their impact—will continue to ripple far into the future.
Mpho Montsho ’24
Global Scholar
Born and raised in a village two hours west of Johannesburg, South Africa, Mpho Montsho ’24 knows the importance of access and opportunity. After high school, he attended the African Leadership Academy for high-potential young leaders on the continent, which provided “access to the right circles, the right rooms, the right people” and put him on a path to attend college in the United States.
Seeking a “monomaniacal focus” on entrepreneurship and finance and a community-based education, Montsho discovered Babson, which awarded him a full-tuition scholarship as part of the Global Scholars Program. It was exactly the opportunity and access he needed.
“For me and for my mom, it was a moment of relief,” Montsho says. “As a result of the scholarship, just having to focus on my mind and being active in this community, it has really amplified who I am as an individual.”
His fellow Global Scholars provided a built-in support system—“co-conspirators and allies,” he calls them—especially during his first few weeks on campus when “I experienced a huge culture shock,” he says.
Montsho adapted quickly and has thrived on campus the past four years. He found his greatest enjoyment in the Babson College Fund. “It has really built the confidence in me to be a really good analyst going to Wall Street,” says Montsho, who interned at Credit Suisse last summer and is headed to Deutsche Bank as an investment banker after graduation.
Being selected for the Global Scholars Program, he says, allowed him to focus on two things: “How do I maximize this experience, and how do I open the door for somebody close to me?”
He has accomplished both. Because of his experience and the financial freedom afforded by his scholarship, his sister, Masego Montsho MSF’24, enrolled at Babson last fall and will earn her master’s in finance in May. “It’s been a real full-circle moment for me,” Montsho says. “The narrative of our family does not end here. It has a ripple effect.”
It’s a leap worth taking, he says, because the Global Scholars Program continues to open doors.
“What we do know is that once we are in these rooms,” Montsho says, “we’ve got the mental aptitude to perform, we’ve got the mental aptitude to add value, and we can seek out those spaces to succeed.”
Madison Grogan ’24
Blank Leadership Scholar
Madison Grogan ’24 had already committed to Babson before receiving the phone call that changed not only her life but also her perspective.
Originally awarded a half-tuition Presidential Scholarship, Grogan accepted even though she wasn’t sure how to meet the financial needs. Then the Southern California native was invited to be one of the inaugural Arthur M. Blank School for Entrepreneurial Leadership Scholars. Created as part of a $50 million gift by Arthur M. Blank ’63, H’98 in 2019, the scholarship program provided not only full tuition but also a unique opportunity.
“Being a Blank Leadership Scholar means being a part of the next generation of leaders who believe in the importance of leading by values,” Grogan says. “This scholarship has changed my perspective on business, pushing me to prioritize personal happiness and values over salary and prestige.”
The first cohort of scholars played an integral role in forging the program at the Arthur M. Blank School for Entrepreneurial Leadership, brainstorming ideas to incorporate Blank’s six core values and offering input on projects such as the Herring Family Entrepreneurial Leadership Village. “We helped set the stage for what it would become,” she says.
One of the other valuable highlights was Entrepreneurial Leadership Field Studies, a class created by Professor Jeffrey P. Shay ’87, MBA’91 specifically for Blank Leadership Scholars, who wrote case studies informed by their access to entrepreneurs and values-based leaders.
Among her accomplishments, Grogan studied abroad in London her junior year and served as a mentor for both Babson Summer Study and Foundations of Management and Entrepreneurship. “I’ve been trying to take advantage of every opportunity given to me,” she says.
In the fall, Grogan will join FTI Consulting in Denver, where she interned last summer. It’s the next step in a journey shaped by Blank’s and Babson’s values. “I’m always going to be looking for opportunities where I can not only find happiness for myself, but I’m going to be empathetic to those around me, and I’m going to try to lift up my work environment,” she says.
The perspective and opportunities are a product of her scholarship, she says. “It’s really changed my life. I can follow my heart and what I want to do.”
Nate Herring ’24
Weissman Scholar
Nate Herring ’24 was at a crossroads without a compass. He had studied nursing for four years, while attending a vocational high school in Springfield, Massachusetts, but decided he wasn’t passionate about medicine.
“I was lost on what I wanted to do with the rest of my life,” he says. “Being a first-gen student, I didn’t have many resources at home, so I often didn’t go to my parents for anything.”
Herring turned to a support system he built at school, and an advisor suggested he apply to Babson. He got in but was worried about the finances—until he was awarded the Weissman Scholarship, a full-tuition scholarship established in 2008 by Robert (Bob) Weissman ’64, H’94, P’87 ’90, G’19, his wife, Janet P’87 ’90, G’19, and their family. “It was just surreal, and I had felt like I won the lottery,” he says. “It was almost magical.”
The Weissman Scholarship provided more than just the direction he sought. “It was a big culture shock coming here, and it took a little time to adjust to,” he says, “but with the other Weissman Scholars, I found myself within their community. I’ve come to call Babson my second home.”
At Babson, Herring served as a resident assistant, made the Dean’s List, and earned the 2022 Heather Maloy Award. He completed a concentration in finance but also is interested in operations, and he’s exploring rotational development programs after graduation.
Most importantly, his world opened in ways he hardly dreamed possible. Before Babson, he had never been on an airplane or traveled outside New England. At Babson, he spent a semester studying abroad in Milan, living with a host family for four months. “It was very scary, but also very exciting,” he says. “Aside from the studies inside the classroom, I got to learn a whole new culture and see sights abroad, and that was wonderful.”
It was a transformational experience he credits to the Weissman Scholarship.
“It has given me a sense of belonging, passion, and freedom,” he says. “Prior to the scholarship, I didn’t think I’d ever make it this far. It has opened so many new doors, it’s given me so many new perspectives, and I am just eager to get out into the world and make a difference.”
Dominique Miles MBA’24
Frank & Eileen Female Leaders of Tomorrow Scholar
For Dominique Miles MBA’24, her scholarship is particularly personal.
After earning her undergraduate degree from Bentley, the Atlanta native started a notary service for loan closings. The startup business was successful, but she wanted to make a bigger impact. “I thought business school would be a way to open my eyes to different things,” she says. So, she focused on an MBA from Babson, if she could receive a full scholarship.
Enter the Frank & Eileen Female Leaders of Tomorrow Scholarship. Miles was selected by Babson as the inaugural recipient, and once on campus, she struck up a relationship with Frank & Eileen founder Audrey McLoghlin, who now sits on the Babson Board of Trustees.
Their mutual admiration grew as they met on campus and at Frank & Eileen offices in Los Angeles. On International Women’s Day 2023, Miles spoke alongside McLoghlin at the naming ceremony for the Frank & Eileen™ Center for Women’s Entrepreneurial Leadership (F&E CWEL), a commitment by McLoghlin to invest more to support women entrepreneurs like Miles. “She’s super intentional about why she gave this money and what she wanted to do,” Miles says, “and I always want to make sure I am giving back as much as I’ve been given. I feel a sense of obligation.”
Now the co-president of the Black Graduate Club, Miles participated in the Black Women’s Entrepreneurial Leadership program and was the lone graduate student participating in a case study of Black Wall Street in Tulsa, hosted by F&E CWEL. The experience had a major impact on Miles, who was born in Oklahoma. “It was wild that I even got the opportunity,” she says.
She also serves as an analyst on Babson’s Private Equity Committee, providing input on managing the College’s endowment. After graduation, Miles will be a private wealth advisor at Goldman Sachs, where she interned last summer.
“Life is different now,” she says. And so is Miles. The change was obvious to McLoghlin when they met on campus in February. Miles recalls how McLoghlin told her, “Your life has changed so much from when I met you less than two years ago. The change is profound.”
Miles credits the change to the opportunity afforded by the scholarship funded by McLoghlin. “It’s meant a lot to me. The whole time I felt like I had someone in my corner,” Miles says. “I wanted to make her proud and expand whatever she was giving to me 20 times more.”
Colby Martel ’24
Sorenson Arts Scholar
Colby Martel ’24 now has 1,200 Rubik’s Cubes in his residence hall room—a symbol of both accomplishment and appreciation.
As a recipient of the Rick and Sandy Sorenson Endowed Scholarship for the Arts, Martel and his fellow scholars showcase their artistic work in an annual spotlight. In his first two years, Martel created an autobiographical video with drawings and a short documentary about stretching beyond his comfort zone. Last year, though, he used his Rubik’s Cubes to create colorful mosaic murals—8 feet tall and 6 feet wide each—of more than 20 friends and mentors as a gesture of gratitude.
“I would not be where I am today without so many of these impactful mentors and friends,” he says. “And, the reactions are just always so awesome to capture and share with other people.”
Martel has used his creativity to inspire people since he was a kid in New Hampshire who dabbled in drawing. His interest in art dwindled in high school until he discovered a skill for creating social media videos. Needing financial support for college, he discovered the Sorenson Arts Scholarship, which was the deciding factor to attend Babson, because “I wanted to pursue entrepreneurship and continue with a creative career.”
Martel didn’t waste time on campus. “I knew I had to take advantage of this opportunity to get involved,” says Martel, who was elected a Student Government Association (SGA) senator as a first-year student, then a vice president as a sophomore. This year, he is president of the Campus Activities Board. “I realized that visual media would be the most impactful way to inspire change.”
The Sorenson Arts Scholarship helped not only fuel his artistic interests but also carve out a creative career. He started a YouTube channel, first posting SGA videos weekly before creating videos from other college campuses. His first non-Babson video drew 5 million views, emboldening his creative and business pursuits. Now, he makes videos for companies such as Starbucks and American Eagle, and his YouTube channel has more than 400,000 subscribers.
After graduation, Martel plans to continue growing his social media brand with a goal to showcase content in an entertaining, educational way that inspires people.
“It’s been the ideal platform to satisfy my passions.”
Luz Torres-Huerta ’24
Enrico Dallas Scholar
When Luz Torres-Huerta ’24 was a junior in high school, she dreamed of attending a prestigious college out of state. “It was something that I aspired to,” she says. As a first-generation student with limited resources, though, she thought her options might be limited to a handful of local public universities.
A high school counselor recommended three top schools to match her interest in business. Babson was at the top of the list. She was accepted but couldn’t afford to attend—until she received the Roger and Rosemary Enrico Dallas Scholarship, established by Roger Enrico ’65, H’86 and his wife, Rosemary, to provide full-tuition, need-based scholarships for economically disadvantaged students from Dallas-area public schools.
The “completely life-changing” scholarship has opened unforeseen opportunities—on campus and beyond. “I wouldn’t have had the experiences here at any other school, and it wouldn’t have happened without my scholarship,” Torres-Huerta says. “It broadened my horizons to know that I can be at a place like this.”
At Babson, she has committed herself to making a difference, living at both GIVE Tower and the Healthy-Living Tower. As a Natalie Taylor Scholar—the Institute for Social Innovation program that incorporates service and social change into academic and cocurricular experiences—she taught entrepreneurship to the Boys & Girls Club of Boston as part of the Youth Entrepreneurship Program, and her final project is focused on first-generation college students.
Torres-Huerta also studied abroad—a week in Spain last spring, and six weeks each in Berlin and Singapore last fall. In addition to the academic and cultural opportunities, the experiences opened her eyes in other ways, especially after meeting Babson alumni. “It was really empowering to see the Babson footprint across the world,” she says.
After graduation, Torres-Huerta is returning to Dallas as a risk management analyst at Citibank, where she interned last summer. “Being able to work in my hometown holds special significance for me,” she says.
She will return home a different person. “All of this changes you in very meaningful ways,” she says. “I’ve become a more well-rounded person. It pushed me to try my best and continue to give back to others, give back to my Babson community, and give back to my community back home.”
