SI's Development Office, while raising money to improve the campus, also needs to continue expanding the Scholarship Program. Currently 22 percent of SI's students receive $4.3 million in scholarships. Please help us do this by giving generously to the SI Scholarship Endowment Fund.
A Gift of an Education Lasts a Lifetime: Consider Establishing a Perpetually Endowed Scholarship
- Full Cost Tuition
- The Way It Works
- Endowed Scholarships
- How Do I Begin A Scholarship
- Can I support SI's Scholarship program without starting a scholarship?
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 2017-18 it is $22,780. 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.
Money donated for a scholarship goes into our Scholarship Endowment, $73 million strong as of June 2017. 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.
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.
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. Donors fill out an agreement with the school on how they would like the scholarship named and on any stipulations regarding recipients. For more information, contact the Development Office at (415) 731-7500, ext. 5214.
You can also establish or add to a named scholarship with a legacy gift, such a gift in your will, trust or by beneficiary designation. Some of our supporters have started a scholarship with a lifetime gift and then supplemented or fully endowed the scholarship with a legacy gift. For more information, please visit our planned giving site. If you have any questions or would like to learn more about establishing or adding to an existing named scholarship with a legacy gift, please contact Annie Reilly, Planned Giving Coordinator, at 415-731-7500 ext. 5122 or firstname.lastname@example.org.
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 5214. St. Ignatius College Preparatory is a 501(c)(3) non-profit organization.
Tax ID: 94-1451515.