Scholarship Program Aims for $120M Goal, Increases Match
By David Lieb, Penn State
UNIVERSITY PARK — A program that has raised $100 million in scholarship endowments will now offer Penn State supporters an even greater incentive to help students in need. Starting March 1, the Trustee Matching Scholarship Program will offer a 10 percent annual match for new endowed gifts, doubling the additional funds available for students.
“The campaign’s top priority is keeping a Penn State degree within reach for students and families from every economic background,” said President Rodney A. Erickson. “The Trustee Matching Scholarship Program has been our most effective tool in engaging the University’s alumni and friends as partners in meeting the urgent need for scholarship support. Now that we have reached the program’s original goal of $100 million in scholarship endowments, we’re aiming higher, for a total of $120 million, and we believe that the increased match will convey to our supporters just how much Penn State values their commitment to our students.”
Trustee Scholarship commitments will now be eligible for a 10 percent annual match, rather than the program’s original 5 percent. This increased match will be available through the end of For the Future: The Campaign for Penn State Students on June 30, 2014, or until the pool of matching support has been awarded. The higher match level will apply only to new endowments at the $50,000 level or higher.
“Throughout the For the Future campaign, the Trustee Matching Scholarship Program has been our flagship opportunity for donors who want to keep a Penn State education affordable for current students and future generations,” said Rodney P. Kirsch, senior vice president for development and alumni relations. “By increasing the match we offer to donors, we intend to underscore the campaign’s focus on Penn State students.”
All other aspects of the program will remain the same. The match continues in perpetuity, and it may be awarded as scholarships as early as the semester during which a donor’s pledge is signed. With some restrictions, donors can direct their support to the college, campus, or student population with which they feel the greatest affinity. Since the program was established in 2002, more than 800 Trustee Scholarship endowments have been created, and more than 4,000 Penn State students benefit each year.
“The Trustee Matching Scholarship Program broke new ground for Penn State philanthropy when it was launched, and its supporters should take pride in what the program has accomplished,” said Kirsch. “Thousands of students who might not otherwise be able to earn a Penn State degree are now on the road to success thanks to the generosity of Trustee Scholarship donors. I hope that even more alumni and friends will take advantage of the extraordinary opportunity offered by the Trustee Matching Scholarship Program to have the greatest possible impact on our students and our institution.”
For information on this scholarship program, contact Dave Lieb at firstname.lastname@example.org or 814-863-0694.