Endowment for Scholarships
Today’s students are like those of earlier generations. They are talented and hard-working. They come from all sorts of background and means—advantaged and modest. As was true fifty years ago, nearly half are in the first generation of their families to earn a college degree. Many qualify for Pell Grants, the form of federal assistance given only to the financially neediest families. Even most middle and upper middle class families require scholarship assistance to put a Mount education within reach.
Education is expensive. The problem is national. Mount Saint Vincent’s charges are “low” by national standards, but most families still need help to pay them. Median family income in the United States is approximately $52,000. To fully fund just one student’s annual tuition, room, board, and fees, a family must have an annual income between $200,000 and $250,000. Even then, families must take out loans.
Our students work hard.
- Academically, that is true. A national survey conducted by UCLA indicates that on average, Mount Saint Vincent grades noticeably harder than colleges and universities across the country.
- In 2012-2013, more than 20% of first-year and 47% of sophomore students reported working for pay 11 or more hours per week during the academic year.
- In 2012-2013, 70% of seniors who responded to the College Senior Survey reported having worked for pay off campus to help afford their College education, and 29% on campus.
New endowment funding of $25.5 million for scholarships will raise the total scholarship endowment to nearly $40 million, ensuring that the College continues to create and expand educational opportunity.