A Transformative Gift11.25.2008 | Business, Education, Engineering
The University of Dayton today announced that it has received a $10 million gift from an anonymous donor — the largest gift dedicated to scholarships in the University's 158-year history.
"This generous gift comes at a time when a college education is more important than ever. With current financial uncertainties, many students and their families are wondering how they will be able to afford to pursue their dreams," said President Daniel J. Curran. "This gift will provide valuable support for many students."
Deborah Read, vice president of university advancement, said: "Fifty percent of the $10 million is earmarked to support students pursuing degrees in the School of Education and Allied Professions; 25 percent will go to the School of Business Administration and another 25 percent will go to the School of Engineering to support scholarships for students in those disciplines."
Each year, up to 20 percent of the gift may also be used to assist students whose education may be threatened by a financial emergency, she said.
The fund will be named the Class of 1965 Scholarship. Read said the donor, who lives out of state, hopes the gift will encourage graduates of that class and other years to make contributions dedicated to scholarships.
"By establishing this fund, the donor wants to ensure that students with the potential to succeed and who are driven don't fall through the cracks," said Todd Imwalle, director of development for UD's business and engineering schools. "The donor wants this gift to reward students who are focused and determined and who have demonstrated potential and financial need. The donor wants to educate the next generation of teachers, engineers and business leaders."
Read said the first scholarships will be awarded for the 2009-10 school year and will support partial as well as full scholarships.
"In the coming years, thousands of students will benefit from this donor's generosity and commitment to a University of Dayton education," Read said.
Curran said: "We are very grateful to the donor because this gift will provide valuable assistance to many students. It's a transformative gift that will change lives."