Harvard Alum Donates $150 Million for Student Aid


March 6, 2014
by Suada Kolovic
With the economy still in a slump, debt-ridden college students aren't alone in their financial struggles. Colleges and universities nationwide – who've had a fair share in creating insurmountable amounts of debt for the majority of students – have struggled to attract potential donors as concerns about unstable markets remain. Harvard University, however, may be the exception: An alumnus who started trading stock options from his dorm room almost 25 years ago recently donated $150 million to his alma mater for financial aid.

With the economy still in a slump, debt-ridden college students aren't alone in their financial struggles. Colleges and universities nationwide – who've had a fair share in creating insurmountable amounts of debt for the majority of students – have struggled to attract potential donors as concerns about unstable markets remain. Harvard University, however, may be the exception: An alumnus who started trading stock options from his dorm room almost 25 years ago recently donated $150 million to his alma mater for financial aid.

Hedge fund manager and Citadel Investment Group founder Kenneth Griffin’s donation (Harvard’s largest-ever gift specifically devoted to financial aid) is expected to help as many as 800 undergraduates annually. With tuition, room and board at Harvard University hovering at about $56,000, you'd assume that only students from affluent families could afford the outstanding price tag. The reality: Sixty percent of undergraduates receive financial aid from the school and pay on average just $12,000 a year. Families making up to $65,000 a year pay nothing, while those with incomes up to $150,000 pay between zero and 10 percent of their income. Griffin said he hopes to donate more to Harvard in the coming years and called for his peers to consider doing the same. "At Harvard, we've had not decades of commitment for our alumni, but centuries. It's time for my generation to step up," he said.

What do you think of Griffin's donation to Harvard – a school that already has an endowment of $32.3 billion – and not those in need directly? Is this a step in the right direction or not?

College is expensive, Scholarships.com is completely free. Pay for your college education with as much free college scholarship money as possible. By applying to all the awards you qualify for, you can be sure to not miss a single opportunity in paying for your college expenses - including tuition, fees, room and board. Get matched to college scholarships instantly and start applying today by conducting a free college scholarship search at Scholarships.com.

Discuss

Share your thoughts and perhaps thousands of students will benefit from your unique insight on the subject!



If you can read this, don't touch the following fields


 
This year for Valentine's Day, Scholarships.com is spreading the love with the things which high school and college students love most: college scholarships. Give yourself the sweet gift of graduating college debt-free with this list of February 2020 Scholarships - including scholarships for high school students and college student scholarships. Or, you can conduct a scholarship search to be matched to a personalized list of scholarships in a heartbeat.

10 February Scholarships that Speak to Students' Hearts

February 14, 2020 11:25 AM
by Susan Dutca-Lovell
This year for Valentine's Day, Scholarships.com is spreading the love with the things which high school and college students love most: college scholarships. Give yourself the sweet gift of
To get a head start in the scholarship search game, many students - including high school juniors - begin searching for scholarships before their senior year in high school. High school junior scholarships can range from $500 awards to full-ride scholarships.

Best Scholarships for High School Juniors (Class of 2021)

February 10, 2020 2:53 PM
by Susan Dutca-Lovell
To get a head start in the scholarship search game, many students - including high school juniors - begin searching for scholarships before their senior year in high school. High school junior
The U.S. Department of Education plans to forgive $1.3 billion in outstanding student loan debt for roughly 25,000 disabled U.S. military veterans, beginning in July. Until now, the Department of Education had required veterans to formally apply for student loan forgiveness - having them complete unnecessary paperwork to secure relief from their student loans, even after the Department of Veterans Affairs had found that a veteran met the legal requirements for disability-related loan forgiveness. In 2018, over 30,000 totally and permanently disabled veterans eligible for student loan forgiveness had not completed the necessary paperwork; a majority of which had defaulted on their student loans.

Student Loan Debt Forgiveness for U.S. Military Veterans

February 4, 2020 3:29 PM
by Susan Dutca-Lovell
The U.S. Department of Education plans to forgive $1.3 billion in outstanding student loan debt for roughly 25,000 disabled U.S. military veterans, beginning in July. Until now, the Department of
True love - at least for college-bound high school seniors and current college students - comes in the form of free college financial aid, especially during the month of February. This February is Financial Aid Awareness Month 2020, and Scholarships.com celebrates it with the rest of the higher education community by helping students and families navigate the college financial aid process and educating them about access to federal, state, and institutional college financial aid.

To help students strengthen their financial aid literacy, higher education institutions and organizations host webinars, field questions on social media and host weekly topics that allow parents and students to ask questions about college scholarships, college grants, FAFSA, student loans, and other ways to pay for college. During this upcoming Financial Aid Awareness Month, Scholarships.com will do what it has always done best. We'll be offering the best college scholarship opportunities and college scholarship information out there. As we see it, high school scholarships and college scholarships are the best types of college financial aid because they do not need to be repaid. To help kick off Financial Aid Awareness Month, Scholarships.com put together a list of high school and college student financial aid resources that you'll love.

Financial Aid Awareness Month - February 2020 Edition

January 30, 2020 10:42 AM
by Scholarships.com Staff
True love - at least for college-bound high school seniors and current college students - comes in the form of free college financial aid, especially during the month of February. This February is
The Entertainment Software Association (ESA) announced its first 
Esports scholarship, expanding its 20-year-old scholarship program to include Esports competitors in college, according to Polygon. The ESA Esports scholarship program is intended to elevate the participation of women and minorities who currently account for a very small percentage of Esports scholarship recipients. Therefore, in order to be eligible for the 
ESA Foundation Computer and Video Game Arts Scholarship, you must either be a woman or minority and pursuing a degree leading to a career in computer and video game arts and sciences. Current high school seniors, college freshman, sophomore and juniors who are U.S. citizens may apply for the ESA Esports scholarship. Applicants must also be enrolled full-time in an undergraduate program at an accredited four (4) year college or university in the upcoming fall semester in order to be considered. All scholarship applications are due March 2, 2020 at 11:59 PST. Applicants will receive results by mid-June and funds will be issued to scholarship winners by end of August.

Get Paid to Play in College with ESA Esports Scholarships

January 21, 2020 11:52 AM
by Susan Dutca-Lovell
The Entertainment Software Association (ESA) announced its first Esports scholarship, expanding its 20-year-old scholarship program to include Esports competitors in college, according to Polygon.

    When it comes to large dollar scholarships, mo' money means fewer problems in paying your college tuition bill. The average student will land between $1,000 and $5,000 in college scholarships after investing a decent amount of time and effort into applying for scholarships. Even smaller scholarships worth $500 are enough to cover books and fees, even if they aren't enough to foot an entire semester’s college tuition bill.

Biggest / Largest Dollar Scholarships in 2020

January 16, 2020 9:41 AM
by Susan Dutca-Lovell
When it comes to large dollar scholarships, mo' money means fewer problems in paying your college tuition bill. The average student will land between $1,000 and $5,000 in college scholarships

    High school graduation is right around the corner for high school seniors class of 2020 and - while many students may have already committed to their dream colleges - securing college financial aid is still a top-of-the-list priority in bringing that dream to fruition. Luckily, right now is the scholarship application peak season, with just enough time to apply for and win scholarships for college. Many 2020 scholarship deadlines are within the next several months, giving students like you sufficient time to conduct a free scholarship search and apply for those that best suit and interest you. Here's a sneak peek of the many scholarships for high school seniors class of 2020:

20 Scholarships for High School Seniors Class of 2020

January 8, 2020 3:18 PM
by Susan Dutca-Lovell
High school graduation is right around the corner for high school seniors class of 2020 and - while many students may have already committed to their dream colleges - securing college financial