SI's Development Office, while raising money to improve the campus, also needs to continue expanding the Scholarship Program. SI doesn't want to become a barbell school, with those who can afford full-cost tuition on one end and those on scholarships on the other end. We want to continue to serve middle-class families, many of whom will be squeezed out if we don?t keep costs under control and provide needed assistance. Currently 25 percent of SI's students receive $2.8 million in scholarships. Our hope is that 40 percent will receive $4 million. That means we must add another $50 million to our endowment. Please help us do this by giving generously to help SI live up to its promise never to turn away students who lack the funds to go here.
A Gift of an Education Lasts a Lifetime: Consider Establishing a Perpetually Endowed Scholarship
Click here to view the entire list of all perpetual and partially endowed scholarships.
Full Cost Tuition
SI's “full cost tuition” philosophy means that tuition is tied to the actual cost of educating each student. Tuition covers faculty salaries and operational costs for each given school year; it is not used to provide student financial assistance. To guarantee our policy of not turning away any qualified student for financial reasons, SI uses a scholarship endowment to meet the financial needs for any family. Our admissions process is “need blind,” which means that students are accepted regardless of family financial circumstances. Any family can apply for financial assistance; the school will meet whatever need each family demonstrates.
Tuition for the 1990–91 school year was just under $5,000. For 2011-12 it is $16,990. SI has had to keep pace not only with cost of living increases but also with increases in benefits and health care costs while trying to attract and maintain a talented and competent faculty.
Assuming current trends hold, the graph below projects tuition increases against projected financial assistance availability. SI’s challenge is to ensure the financial assistance curve keeps pace with projected tuition costs.
The Way it Works
Money donated for a scholarship goes into our Scholarship Endowment, $42 million strong as of June 2008. Following what’s called the “Yale Model,” a percentage of the return off the investment of those funds is used to provide the necessary financial assistance each year. The principal of the gift is never invaded and sufficient growth is retained to ensure the perpetual purchasing power of each scholarship.
Each year, qualified students are assigned to the partially or fully endowed scholarships. Donors meet the recipient every other year at a Scholarship Luncheon in September. In many instances, students receive the same scholarships throughout their four years.
Scholarships may be named for individual donors, for a group or family, in honor of others, or in memory of a deceased family member or friend. With a corpus of $25,000, the scholarship is Partially Endowed, the school begins to assign students to it, and the scholarship is listed in the Genesis magazine; at $100,000, the scholarship is Fully and Perpetually Endowed. All awards are need based, but donors may advise the Scholarship Committee regarding preferred student talents, interests or characteristics.
Click here to view the entire list of perpetually as well as partially endowed scholarships
Read about people who have honored loves ones through a named scholarship
How do I begin a scholarship?
It’s easy. Contact SI’s Development Office. Although a scholarship is not assigned to a student until the fund reaches $25,000, any amount can begin a scholarship. SI asks benefactors to work to fully and perpetually endow their scholarships in an agreed upon timely manner. Donors fill out an agreement with the school on how they would like the scholarship named and on any stipulations regarding recipients. Please feel free to contact the Development Office with any questions.
Can I support SI’s scholarship program without starting a scholarship? Absolutely. Many benefactors simply donate to the SI Fund and pool their donation in the Scholarship Endowment. Others donate to a specific scholarship. All of our Fully Endowed and Partially Endowed scholarships are listed on our web site.
You may make payments to your scholarship fund through gifts of cash (checks should be made out to St. Ignatius College Preparatory), gifts of appreciated stock, or donations online. For more information, contact the Development Office at (415) 731-7500, ext. 211.
Can I support SI’s scholarship program without starting a scholarship?
Absolutely. Many benefactors simply donate to the SI Fund and pool their donation in the Scholarship Endowment. Others donate to a specific scholarship.
You may make payments to your scholarship fund through gifts of cash (checks should be made out to St. Ignatius College Preparatory), or make a donation online.
For more information please do not hesitate to contact the Development office at 415-731-7500 x 211.