Muhlenberg College Commits $10 Million to Launch 1:1 Scholarship Match Challenge
In an effort to close the ever-widening affordability gap that could inhibit prospective students from pursuing a college degree, Muhlenberg College has committed $10 million as a matching incentive for donors to establish endowed scholarships.
Called the Muhlenberg Match Scholarship Challenge, new outright gifts or signed multi-year pledges of $25,000 or more toward endowed scholarships are eligible to be matched 1:1 by College funds reserved for this purpose until $10 million is committed. The maximum match amount for any single fund is $250,000.
"We see access to higher education as the ultimate democratic value," says Muhlenberg College President Randy Helm. "To prove it is a top priority, we're offering this extraordinary opportunity for alumni, parents and friends not only to double their gift but, more importantly, to double their impact on the lives of talented students who simply don't have the means to afford the Muhlenberg experience."
Nationwide, the demand for financial aid is growing, and at Muhlenberg it is no different. Each year, Muhlenberg runs out of scholarship and grant funds before the College runs out of students of need. Muhlenberg’s financial aid budget for 2012-2013 was $31.8 million, an increase of almost $3 million from 2011-2012. This year, 87% of the Class of 2017 is receiving institutional grant and scholarship aid (up from 83% last year for the Class of 2016).
"There is nothing more satisfying than helping young men and women achieve their potential," says President Helm. "Endowed scholarships ensure that the College will be able to provide to those who need aid for generations to come."
In addition to the Scholarship Match Challenge, Muhlenberg has set aside $1 million in matching funds to encourage endowed gifts for educational enrichment opportunities. Endowed funds for programs such as study abroad and student research, or in support of departments such as Muhlenberg’s Career Center or Academic Resource Center are eligible for the Muhlenberg Match Enrichment Challenge.
For more information on the Muhlenberg Match Scholarship Challenge and the Muhlenberg Match Enrichment Challenge, visit www.muhlenbergconnect.com/muhlenbergmatch, or contact the Office of Development and Alumni Relations at 484-664-3247 or firstname.lastname@example.org.