Half-million dollars in new scholarship endowments will benefit students
A pioneering woman and a grateful son. An otolaryngologist, an aunt, a businessman, a surgeon and a widow.
They are the individuals behind more than a half dozen new scholarship endowments in the medical school. Together worth more than $500,000, the endowments will generate annual scholarship awards that will benefit students for the first time in the coming year.
While each reflects its donor’s interests in unique ways, the scholarships have one unifying theme: each donor asked that the scholarship be awarded to a student with demonstrated financial need.
“Medical schools across the country are grappling with how to help their students avoid taking on too much debt,” said Isaac Wood, M.D., senior associate dean for medical education and student affairs. “Our school has adopted a two-pronged approach. In a first step, Dean Jerry Strauss is holding the line on tuition increases. Secondly, we are doing our best to increase the scholarships and financial aid available to students. We’re very grateful to these seven friends who have partnered with us to do just that.”
The medical school encourages named scholarships to be created with a gift of $25,000 or more. Below this amount, donors may direct support to any of the school’s established scholarships or to the Annual Fund, which supports student scholarships. Today, 70 endowed scholarship funds, valued at $10.4 million, benefit students in the medical school. Housed at the MCV Foundation, scholarship endowments produce an annual award of about four to five percent of the fund’s value.
More information about creating scholarships in the medical school is available online.