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A perfect match: doubling the impact of endowed scholarships
Doubling the impact of endowed scholarships
by Jodi Auvin
From M, spring 2004
$16,000 a year. That's the average annual cost for in-state tuition, fees, and room and board for a University undergraduate, this year, but costs are expected to rise. Students in graduate professional programs, can pay twice as much or more. And while that $16,000 is a bargain relative to many other colleges and universities, the price is still steep, and many struggle to pay it.
To help students and their families meet the costs of higher education, the University has set a priority on increasing the number of scholarships it can offer. And to encourage new gifts for scholarships, the U recently launched a program that will double the impact of any gift of $25,000 or more for endowed scholarships.
To qualify, gifts must be designated for scholarships for recruiting new undergraduate students or students in professional programs. Donors may designate the scholarship for a specific college or for use University-wide.
Matching gifts from employers can be used to meet the $25,000 minimum, and gifts may be paid over five years, making it even easier to take part in this program and still double the impact of the gift. For more information, call the University of Minnesota Foundation at 612-624-3333 and ask to talk to a development officer.