October is Scholarship Month

About 4,500 students at the University of Minnesota currently receive privately funded scholaships.

From M, fall 2004

"Scholarships are my top fund-raising priority," says President Robert Bruininks in declaring October as Scholarship Month at the University. This follows the launch last year of the largest scholarship drive in University of Minnesota history-the University of Minnesota Scholarship Drive: Promise of Tomorrow. "I want to make sure that all students with the desire and ability to succeed at the U have the opportunity to do so," says Bruininks. Currently, approximately 4,500 University students receive privately funded scholarships, but Minnesota trails other Big Ten institutions in the number and size of scholarships it can offer to incoming freshmen.

Banners on campus, articles in U publications, and special events for scholarship donors are some of the ways the University will be drawing attention during October to the need for scholarship gifts. The goal of the drive is to increase by 50 percent the number of students who receive scholarships. That can be accomplished over the next several years by raising $150 million in new scholarship gifts, which is the most ambitious fund-raising effort ever focused only on scholarships at the U.

Test Your Knowledge of U Students Today

True or False?

The average U of M undergraduate student would have to work more than 60 hours a week at minimum wage to meet annual tuition and expenses.

Nearly three-fourths of University graduates stay in Minnesota.

U of M scholarship recipients graduate on time at a rate up to 35 percent higher than other students.

Answer:

All statements are true. Scholarships help keep the University affordable, keep talented students in Minnesota, and encourage students to do their best.

President's Scholarship Match

To help reach the goal, the University has created a new matching program, the President's Scholarship Match, which doubles the impact of many endowed scholarship gifts of $25,000 or more. When a donor creates an endowed scholarship, the gift is used to create a fund that is held and invested by the University of Minnesota Foundation. About 5 percent is paid out each year for the scholarship. Through the President's Scholarship Match, the University matches this payout to double the size of the scholarship award.

For example, a gift of $25,000 would ordinarily generate an annual payout of about $1,250. The President's Scholarship Match would double this payout, making $2,500 available every year for students.

Other aids to giving

• Corporate matching dollars count toward the $25,000 minimum
• Gifts may be paid over five years
• Individuals may combine their gifts to make one large gift
• Gifts can be designated to the U of M college or program of your choice

To make a gift

To learn more about the University of Minnesota Scholarship Drive: Promise of Tomorrow, or to make a gift: