Endowed gifts are vital to the long-term performance of this campus. We continue to build our endowment, and thanks to donors like you we have made significant strides. Today, over 150 of our students are receiving much needed financial aid in the form of endowed awards.
Importantly, endowed scholarships give the donor the opportunity to establish guidelines for how funds from their endowment will be used, thus ensuring that their area interests benefit from their contributions. Endowed scholarships and awards continue to generate funds for deserving students in perpetuity as well as increase in value over time. They also allow the donor or other interested parties to continue to donate to the endowment, thereby ensuring that awards keep pace with inflation and tuition increases over time.
Examples of endowed gifts:
An academic award recognizes academic excellence, and can be named for the donor, designated in a specific academic discipline, or made a general award. For example, an academic excellence award in Information Sciences and Technology can be established as an excellent incentive for students in that particular major.
Program Support: $25,000
Program endowments support activities as diversity outreach and undergraduate research and study abroad.
Undergraduate scholarship: $50,000
An undergraduate scholarship can be named for the donor and generally recognizes academic potential. It can be designated for general scholarship support or for a specific academic area. Here again, a scholarship can be established, for example, in the new business degree or for students enrolled or planning to enroll in Information Sciences and Technology.
Trustee Matching Scholarship: $50,000
Penn State's Board of Trustees approved a groundbreaking philanthropy program that makes our donors a partner with the University in supporting our students. Through the Trustee Matching Scholarship Program, scholarship endowments will have their average payout matched, in perpetuity, from the University's operating budget. New scholarship endowments of $50,000 or more are eligible for the program. Penn State will make approximately five percent of the pledge – equal to the average annual income from an endowment – available for scholarships.
Don't forget to designate your gift to Abington!