Endowment for Student Aid

“Without it, I wouldn’t have been able to come here,” says a recent graduate from Old Forge, Pennsylvania.

And a sophomore physical therapy major who chose Scranton over a school in Philadelphia says, “I wanted to come here, but my parents were worried about the finances because I have a brother and a sister who are also in college and another brother in high school.”

A young Russian émigré whose family came here under the sponsorship of the local Jewish community is making the educational transition from Moscow to America where she says, “I can study what I want – molecular biology.”

These three, and hundreds more, have one thing in common – an endowed scholarship at Scranton. Our history is full of stories like theirs. From its founding in 1888, the University’s mission has always been to provide the finest in higher education – especially to those who need it most.

Bishop O’Hara understood that when he founded St. Thomas College to serve the young men of the Lackawanna Valley. The Christian Brothers, who administered the school in the name of the Diocese of Scranton for half a century, understood it, too. And so did the legendary Frank O’Hara, who conceived “work-study” programs long before the government did and discovered a multitude of creative ways for students to pay their tuition during hard times.

When the Jesuits accepted administration of the University in 1942, their Ignatian tradition converged with what had gone before, strengthening the dual objectives of excellence and accessibility. St. Ignatius himself had envisioned them as free institutions, supported by the benevolence of patrons. Five hundred years have not altered that vision, even if modern reality is less than perfect.

In today’s world, the University’s ability to provide financial aid is critical to its continuing mission. Indeed, in the face of increasing competition and decreasing federal and state assistance to students, Scranton has increased its own student aid more than 250 percent in the past 10 years, while holding tuition increases to a much lower rate.

Yet, Scranton often competes for the best students with institutions whose larger endowments give them an unbeatable edge in financial aid. In the short run, because the University cannot adequately meet financial needs, this results in losing good students. In the long run, declining competitiveness in financial aid erodes the quality of the institution and restricts its accessibility for students of modest or even comfortable means.

Endowment for Scholarships

Endowment gifts for scholarships provide funds to be invested in perpetuity to produce income for student aid. A gift of $50,000 or more to the University will establish a named scholarship honoring the donor or a person or group of persons designated by the donor.

Many benefactors choose to make an initial gift -- often $5,000 or $10,000 -- to create a named scholarship. Then, over a period of up to five years, they and/or others make additional gifts.

In today’s market, a full-tuition scholarship requires an endowment of about $600,000. However, the majority of named scholarships at Scranton are large enough to provide the vital margin between a student’s other resources and the cost of tuition.

There is a dual need for endowed student aid at the University – for merit scholarships and for need-based assistance.

Academic merit scholarships bring students with strong classroom and leadership skills. Because quality attracts quality, as the number of these scholarships increases so does the University’s ability to attract the best students.

Need-based scholarships preserve the University’s mission and are a unique opportunity to participate in the Jesuit vision of education. Many donors of this type of scholarship endowment speak of extending to others the kind of help they once received as students here.

Rather than creating new scholarships, alumni and friends often contribute to existing scholarships, especially those established to honor distinguished and beloved teachers who have left their mark on the school and its alumni. Past and present professors and administrators for whom endowed scholarships have been established include:

EDWARD F. BARTLEY		REV. JOHN J. BEGLEY, S.J.
REV. PAUL R. BEINING, S.J.		REV. HENRY J. BUTLER, S.J.
REV. JAMES J. CONLON, S.J.		REV. ROYDEN B. DAVIS, S.J.
REV. JOHN J. FITZPATRICK, S.J.		A. JOHN GIUNTA, Ph.D.
REV. JOSEPH M. HAMERNICK, S.J.		REV. DEXTER HANLEY, S.J.
REV. WILLIAM B. HILL, S.J.		REV. JOHN W. LANGE, S.J.
REV. FRANK J. MacENTEE, S.J.		REV. THOMAS D. MASTERSON, S.J.
REV. BERNARD R. McILHENNY, S.J.		JOHN P. McLEAN
REV. J. PATRICK MOHR, S.J.		FRANK O’HARA
REV. G. DONALD PANTLE, S.J.		ANDREW W. PLONSKY, Ph.D.
REV. EDWARD R. POWERS, S.J.		REV. J.J. QUINN, S.J.
REV. JOSEPH A. ROCK, S.J.		REV. RICHARD W. ROUSSEAU, S.J.
ROBERT RYDER		ROBERT J. SYLVESTER
WILLIAM ZAHLER

Your Gift

No other kind of support is more appropriate than endowment for scholarships and student aid. It provides a permanent, perpetual resource – a foundation on which to shape the future.

Each named, endowed scholarship becomes a living tribute or memorial. Donors typically designate the type of students eligible for the scholarship and its permanent name or title.

If you would like to pursue the creation of such an endowment or if you are interested in contributing to an existing endowment, please contact:

To make an online gift to an existing scholarship fund using MasterCard or Visa, please visit www.scranton.edu/makeagift. Indicate the name of the scholarship fund in the comments when completing the gift form.