If there's any doubt about the success of the Spencer Educational Foundation — now with assets of $4 million, and awarding hundreds of scholarships over the years — just ask the program's prime beneficiaries, the students.

For Keone Wilkie, a junior at St. John's University, having a Spencer scholarship means he can focus on his studies without the added pressure of holding a job.

“This has taken the financial burden off me and my parents,” said Mr. Wilkie, who is studying actuarial sciences as one of 52 scholarship beneficiaries in 2006. “The program has helped, keeping me on track and staying in school–getting the education necessary to make me more marketable.”

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