Establish an Endowed Scholarship Fund
An endowed scholarship is a significant and important contribution to the College for it provides scholarship assistance to Le Moyne students…forever!
Endowment earnings are prudently managed by Le Moyne College’s investment Committee and can weather market volatility based upon a strategic long-term spending policy. The endowment earnings are reinvested into your named fund which allows the principal to grow and student awards to increase continually.
A minimum pledge of $50,000 is required, payable over five years, to establish an endowed fund.Once endowments are fully funded they will be awarded the next academic year.Le Moyne College has established 165 named endowed scholarship funds with over 460 awards given in 2014-15.
Donors who wish to establish an Endowed Scholarship with the College can work with a member of the Institutional Advancement team on their scholarship agreement, determining pledge and payment terms, name of the scholarship and preference for the student who should receive the award.
Donors can outline award preferences that are meaningful to them and reflective of their original intent in establishing the fund. Le Moyne College distributes endowed scholarship awards annually through its Office of Financial Aid selecting students based upon financial need and the criteria established by those friends and alumni who have created the scholarship fund.
A list of the current endowed scholarships is available through this link
Establish a Magis Scholarship
A Magis scholarship is an expendable scholarship which means that it is not invested in the endowment but immediately used for student support.
To establish a named Magis Scholarship, for instance “The Smith Family Magis Scholarship,” requires a minimum gift of $5,000 per year for five years. Once the gift is received, the College immediately awards the Magis scholarship to a Le Moyne student who meets the criteria established by the donors.
In addition, the College will apprise the donor(s) each year with information about the student who received the particular Magis scholarship that they created.
The Jesuit phrase Magis means “the more,” and the roots of the phrase are ascribed to St. Ignatius’ exercise of doing more for God.