Throughout its 80-year history, the Mount has remained committed to ensuring that qualified students have the opportunity to reap the benefits of a Mount education. With growing enrollment and steadily rising costs, the need for scholarships to assist deserving students becomes even more critical.
Below are general guidelines for establishing a named scholarship at the Mount. Specific criteria and means of funding can be tailored to meet the desires of the donor and the legal and academic requirements of the College.
Benefits of the Scholarship
The student: Scholarships open doors to rich, rewarding and productive lives for deserving students in need of assistance. They provide the inspiration and financial means to pursue a college education for students who otherwise may be unable to attend the Mount.
The donor: An endowed scholarship is a tribute to a donor's generosity, care, and foresight, and it allows the donor to have a lasting impact on the Mount and its students.
The College: Scholarships enable the Mount to attract the best students regardless of their financial resources. An academically strong student body enhances the entire academic community.
Naming the Scholarship
Naming the scholarship for oneself, a family member, or another person important to one's life establishes a living memorial. The name of the scholarship can also convey the specific intent of the scholarship; e.g., "The Virginia Smith Scholarship for Communication Arts."
Criteria for the Scholarship
It is possible to designate scholarship funds for students who meet certain criteria. Such restrictions must meet the legal requirements regarding equal access.
Investment of the Scholarship
The monies endowing the scholarship are invested by the College. Each year a deserving student who meets the scholarship criteria receives a percentage of the accrued interest, while the remaining interest is added to the principal. This investment policy allows the scholarship to grow and exist in perpetuity.
Funding the Scholarship
A minimum of $25,000 is required to establish a partial scholarship, and $400,000 to endow a full scholarship. Funding may be provided by an outright gift of cash or other assets, or by a deferred gift. A donor can build an endowment through multiple gifts over a period of time. Often, fulfillment of the scholarship is ensured through a bequest.
For more information, please contact Lisa Hinger-Odenbeck ('80), Director of Development, at (513) 244-4475 or (800)654-9315 ext. 4475