Founding a Scholarship at La Roche College
Founding a scholarship is one of the most powerful and
meaningful ways that benefactors can support La Roche College, ensuring that
higher education is available to students with great academic potential and/or
students with great financial need.
While La Roche College works intentionally to keep tuition well
below the national average for private institutions, the total cost of earning
a degree can still be daunting for many students and families. La
Roche also works hard to provide generous merit and need-based grants for all
eligible students; many students also utilize work-study opportunities and
student loans to fund their education. However, many students still fall short in their ability to pay, and that is
where donor-created scholarships have made a significant impact.
In creating a scholarship, donors can help to determine the
eligibility criteria for students. Criteria can include merit and/or financial
need, specific areas of academic interest, or other factors. The scholarship awardees will be determined
by the La Roche Scholarship committee.
Donors can choose from two general types of scholarships at
La Roche: an annual scholarship or an endowed scholarship. Both types of
scholarships can be named by the donor, sometimes in honor or in memory of a
Annual scholarships are created with the intent that all of
the donated funds will be distributed to students over the course of time. These funds are not invested in the College’s
endowment. Rather, they are maintained
in an appropriate account that allows for access to funds on a regular
basis. Annual scholarships are a good
option for donors who are not able to make larger financial gifts. They can be started with smaller initial
donations, and additional donations can be made to the fund at any time. Some donors use annual scholarships as a way
to make regular gifts to the College that go to work immediately to assist
students, and the donors replenish the funds in the scholarship account with
Endowed scholarships are ideal
for donors who have the capacity to make a significant philanthropic investment
in the education of students at La Roche. Once created and sufficiently endowed (with a
minimum principal balance of at least $25,000), an endowed scholarship fund is permanently
invested with the College’s endowment.
Earnings from the endowed fund will be utilized annually to provide
scholarship aid to selected students, in keeping with the College’s endowment
spending policy as approved by the Board of Trustees. For example, in a given
year, the College might withdraw four to five percent from the endowment for scholarship
awards, allowing the principal to remain intact and continue to grow. An endowed scholarship, in general, will grow
significantly over time; and, as the principal value increases, the amount that
the College can award to students in the future will also grow. This fund is
designed to exist in perpetuity and will benefit students for generations to come.
further information on creating a scholarship at La Roche College, please
contact Michael Andreola, CFRE, Vice President for Institutional Advancement,
at 412-536-1096 or firstname.lastname@example.org.