University bolsters endowed scholarships

Tim Naida and Tim Naida

Sustaining Tomorrow’s Scholars is helping the University deal with scholarship funds that are lacking as a result of the economy.

Sustaining Tomorrow’s Scholars is a program aimed at raising money for endowed scholarship funds that are having trouble due to the state of the economy. The poor performance of the market has left the investments of these endowments returning less money, which leaves the endowed scholarship funds with less money to offer students.

A scholarship endowment is a funding donation to the University for scholarships. To maximize the donation, the funds are invested and the returns are used towards providing students with financial assistance in the form of a scholarship.

So far the program, which began in November 2008, has raised $479,000 for endowed scholarship funds. Interim Vice President for University Advancement Marcia Sloan Latta said the funds have gone to helping 390 of the 820 endowed scholarships at the University.

Junior Kirk Bowersox said that the program is great in theory, but it could be a problem to get money from people.

‘I think it’s a good idea if they can find the people, but that’s probably going to be hard in these economic times,’ he said.

Latta explained what the University is trying to accomplish with this program.

‘The goal is to make sure that the scholars that have been awarded in the past continue to get those,’ she said.

Latta said donors are asked to specifically contribute to this fund, and people who donate do so with students in mind.

‘Our donors and alum want to be able to help to benefit students,’ she said.

IPC 1020 Basic Course Director Brett Billman said the program is good because it will help students achieve their goal of graduating.

‘It’s helping bridge a gap that wasn’t a student’s fault,’ he said. ‘It [also] helps to support the University’s mission of students first.’

All donations are tax deductible. People who want to donate to Sustaining Tomorrow’s Scholars can do so by calling the Office of Alumni and Development at 419-372-2424. Donations can also be made online under the Alumni ‘amp; Friends tab on the front page of the University Web site.