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This paper presents implementation details and findings of an NSF-funded S-STEM scholarship program consisting of many high-impact practices to recruit and retain students in the Physical Sciences and Mathematics programs, particularly first-generation and underrepresented minority students. In particular, we discuss how the program utilizes three key strategies to improve persistence and retention in a STEM pipeline including access to financial resources, community building, and faculty mentorship at critical transitions. While the rate of underrepresented minority (URM) students within the general Physical Sciences and Mathematics program on campus fluctuates at around 35%, this scholarship program recruits at a much higher rate of URM students at nearly 61%. Of the 44 students receiving support for at least one semester, 100% either graduated or continued with their original major, including students who discontinued from the program due to low GPA or lack of financial need. Among the program’s positive outcomes, students experienced increased motivation for success, and readiness for graduate studies or the workforce.