Scholarships are Critical for Student Success
by Sarah Gibson
WVU Foundation communications intern
Although more than 70 percent of WVU students receive a total of some $100 million in financial aid annually, the average WVU undergraduate is faced with $15,000 to $16,000 of debt upon graduation.
In a recent study, guidance counselors found that many young people who aspire to a college education and are capable become disenchanted as they progress through high school because they see little opportunity for accumulating sufficient funds to attend college.
"There are many students whose only opportunity to obtain a college education and the success that education can bring will be through scholarships. Both merit and need-based scholarships are essential," said Duke Perry, WVU Foundation president.
"Merit scholarships enable the University to attract the best and brightest students who otherwise may be leaving the state. Need-based scholarships are particularly crucial, especially for West Virginia students since many are first-generation college attendees," Perry said. "These scholarships can only be made possible through private support and will be a major emphasis of the upcoming capital campaign."
Through private support the University seeks to ensure that all academically deserving students have the opportunity to pursue a college education, regardless of their financial status.
What does it cost to endow a scholarship? A minimum of $10,000 is required. A gift of $60,000 will create a full-tuition scholarship endowment for an in-state WVU undergraduate. To endow an in-state, undergraduate full-tuition, room, and board scholarship requires $200,000.
In Fiscal Year 2000, 54 scholarships have been created through gifts to the WVU Foundation of $1.7 million. The Foundation manages 863 scholarships valued at $94.8 million.
WVU Students Assuming More Debt
- In 1998-99, more than $114 million was awarded in financial aid at WVU. Of that total, more than $74 million was in loans. In 1993-94, loans totaled less than $35 million.
- Sixty-five percent of the total financial aid disbursed to students is in the form of loans. Six years ago, loans represented only 48 percent of the total financial aid disbursement.
- More than 20,000 financial aid requests are received annually.
- Approximately 70 percent of WVU students receive some form of financial assistance.
- The average unmet need for WVU undergraduate students is $3,488.
Gratitude is Heartfelt and Permanent
WVU students have great respect for alumni and friends of
the University who support their school by creating scholarships.
In fact, many recipients write to those who have created the
scholarships. Here is what some have said:
"I am thankful for people like you, who make it easier
for students to earn their degrees. I feel that my college education,
jobs, and internship have truly prepared me for the 'real world'
out there ahead of me."
Victoria Antion, senior
G.Belmont Berry Scholarship
"Nursing is an occupation that is very dear to my heart.
It has been a lifelong dream of mine to become a nurse. This
scholarship has been very beneficial in helping me reach for
my career goals."
Kaneetha Allen, junior
W.Va. Nurses Association Scholarship
"I would like to take this opportunity to thank you for
making this bachelor's degree in psychology possible. I under-stand
that without the support of donors such as yourself, students
like me would not be recognized for scholastic achievement and
scholarships such as mine would not be available."
Kristi Miller, senior
Presidential Scholarship
"Your generous financial gift for this semester has been
of great benefit to me and my parents in meeting the financial
responsibilities that accompany attaining a higher education."
Wesley Queen, junior
Ernest and Mildred S. Hogan Scholarship
"I can't thank you enough for realizing the ever-increasing
costs of school are significantly defrayed through generosity
as you have shown."
Paul Stephen, junior
John C. Shaw Scholarship
"You have made a difference in my life, and now I will
have the chance to make an impact on others' lives."
Dara Skidmore, freshman
Berry Trust Scholarship Fund
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