{"id":29518,"date":"2024-01-02T14:49:37","date_gmt":"2024-01-02T19:49:37","guid":{"rendered":"https:\/\/www.furman.edu\/news\/?p=29518"},"modified":"2024-02-08T11:08:48","modified_gmt":"2024-02-08T16:08:48","slug":"clearly-furman-raises-132-8-million-for-scholarships-academics-and-teaching","status":"publish","type":"post","link":"https:\/\/www.furman.edu\/news\/clearly-furman-raises-132-8-million-for-scholarships-academics-and-teaching\/","title":{"rendered":"Clearly Furman raises $133.5 million for scholarships, academics and teaching"},"content":{"rendered":"

Furman\u2019s alumni and friends have provided $133.5 million toward student scholarships, academic programs and teaching excellence through <\/span>Clearly Furman, the Campaign for Our Third Century<\/span><\/a>, the university\u2019s historic comprehensive campaign, which concludes in 2026. The amount represents a 46% increase in funding provided for scholarships since the campaign\u2019s inception, demonstrating the tangible impact of donor gifts on to the university\u2019s greatest campaign priority.<\/span><\/p>\n

The funding initiative, <\/span>Inspire Minds Where They Meet<\/span><\/a>, has several priorities, including endowed scholarship funds, endowed professorships and faculty development.<\/span><\/p>\n

\u201cGifts of endowed scholarships alleviate pressure on tuition revenue and can begin to close the significant gap we face every year with unfunded financial aid,\u201d said Susan Maddux, vice president for finance and administration. \u201cI am pleased to see that our donors have created more than 150 endowed scholarships in this campaign.\u201d<\/span><\/p>\n

The Partners Program<\/b><\/p>\n

Scott Pyron \u201960 was a faculty member from 1966 to 1976, chairing the chemistry department at Furman before achieving a distinguished career with foundations supporting scientific research. Inspired by Pyron\u2019s work and\u202fhis wife\u202fDebra\u2019s experience as a first-generation college student, the Pyrons invested in an endowed scholarship to support first-generation\u202fFurman\u202fstudents\u202fthat will provide a $10,000 scholarship in perpetuity. They\u202fare also\u202fmaking annual gifts\u202fthat will ultimately\u202fprovide\u202fthree\u202fadditional first-generation\u202fstudents with $10,000\u202feach year in financial aid.<\/span><\/p>\n

\u201cThe Pyrons\u2019 investment\u202fin Furman\u2019s scholarship program\u202fgoes to the heart of this campaign and\u202fwill support the next generation of Paladins,\u201d said Furman President Elizabeth Davis during a Clearly Furman campaign event in Atlanta this past September.<\/span><\/p>\n

Inspire Minds Where They Meet <\/b>(academic scholarships)<\/span><\/em><\/p>\n

In the Partners Program, started 25 years ago, a donor can fund an annual or endowed scholarship<\/a>. An annual scholarship,\u00a0starting at $5,000,\u00a0is committed over four years. Donors make their gift annually to be awarded to a student for the length of the donor’s four year commitment. An endowed scholarship is also a multi-year commitment. The donors gift is invested in Furman\u2019s endowment to provide a scholarship in perpetuity based on the earnings growth.<\/span><\/p>\n

There were <\/span>705<\/b> full or partial scholarships actively awarded during this campaign; 299 are annual and 406 are invested in the endowment, and the earnings are awarded annually.<\/span><\/p>\n

Since the start of this campaign, donors have created <\/span>329<\/b> partial or full scholarships; 174 are annual and 155 are invested in the endowment, and the earnings will be awarded annually.<\/span><\/p>\n

How can I contribute?<\/b><\/p>\n

An endowed fund provides scholarships to improve the lives of students and establish support for future students. Each endowed gift will transform lives in perpetuity.<\/span><\/p>\n

Furman offers two types of Endowed Scholarships to students through the Partners Program:<\/span><\/p>\n

    \n
  1. $100,000 (payable over 3-5 years). Students qualify by demonstrating financial need.<\/span><\/li>\n
  2. $250,000 (payable over 3-5 years). Students qualify by demonstrating financial need and meeting one of the donor\u2019s interest groups, for example by geographic location, field of study and major or minor.<\/li>\n<\/ol>\n