Campaign Doubles Financial Aid at KenyonGAMBIER, Ohio (October 5, 2009)
At a time when many students and colleges are facing increased need, Kenyon has doubled its endowed scholarships. When the capital campaign "We Are Kenyon: The Drive for Excellence" was launched in June of 2007, the financial aid funds stood at $50 million. And now, just two years later, that number stands at $100 million, with a goal of raising an additional $20 million for scholarships before the end of the campaign in June 2011.
"It is a great accomplishment that Kenyon has been able to double our endowed funds for financial aid during this campaign," said College President S. Georgia Nugent. "Especially in this economic climate, there could be no better time for alumni and friends of the College to 'give back,' to make a Kenyon education possible for future generations of students."
Forty-four new scholarship funds have been created during the campaign. Among recent, major gifts contributing to the $50 million raised for financial aid are $1.25 million from the George B. Storer Foundation in honor of James P. Storer '49 of Gates Mills, Ohio, and $1 million from an anonymous donor.
Actor and philanthropist Paul Newman '49 and the Newman's Own Foundation had donated $10 million for financial aid at the opening of the campaign. Kenyon's new first-year class includes 16 students who are Newman's Own Foundation Scholars, part of a program created in 2008 to admit students with loan-free, financial-aid packages based on need.
Money raised for financial aid has come in all sizes. And more than half of the $50 million has come from donors under the age of 50. Some young donors, including Larae Bush Schraeder of the Class of 1997, and her husband, Jeffrey, joined Kenyon's "50 Under 50" program that encourages alumni under the age of 50 to contribute $50,000 during a five-year span.
Mrs. Schraeder is a senior consultant for project portfolio management at Nationwide in Columbus, Ohio, and, with her husband, created a fund aimed at helping students participate in professional and personal development through participation in internships and externships. The Calvin and Lenice Waugh Endowed Fellowship, is named for the grandparents who helped raise Mrs. Schraeder.
"Kenyon afforded me an opportunity," she said, with a financial aid package that made her education possible. The contribution is a family sacrifice for Schraeders, but, "A priority is giving back," Mrs. Schraeder said. "This is very fulfilling."
One student has already benefited from the Calvin and Lenice Waugh Endowed Fellowship. Ann Pedtke '09 of Claysville, Pennsylvania, expressed her appreciation to the Schraeders after she was able to afford a winter-break externship at a publishing house in New York City. The exposure to the work and urban environment cemented Pedtke's interest in a career in publishing.
"My externship experience will no doubt influence my life next year and beyond," Pedtke said. "Thanks so much ... for enabling Kenyon students to get a head start on pursuing careers they love."Back to Top