Scholarships play a major role in providing necessary funding for Taylor students. More than 91% of the student body receives financial assistance from scholarships, grants, loans and work-study employment. These valuable and vital sources of funding come through both endowed and annual scholarships given by generous donors to directly impact today’s students.
There are many reasons why Taylor alumni and friends choose to give scholarships, including:
- To perpetuate the memory/legacy of a loved one
- To honor those who have significantly influenced others as positive role models
- To invest in training today's students to be tomorrow's Christian leaders
Endowed scholarships are designed to give annual awards to students indefinitely. The term endowed means that the gift from the donor is invested. A portion of the interest earned then provides yearly scholarships for students, while the original gift or principal is never used. Year after year, the remainder of the interest plus dividends and capital gains earned are reinvested so the principal grows. As the size of the principal grows, the interest earned also grows and provides larger amounts to award to students.
A minimum of $30,000 is needed as principal for at least one year before awards from an endowed scholarship can be given to students. Gifts of any size may be added to the fund in a span of five years in order to reach the $30,000 starting point. Estate gifts to an endowed scholarship do not have a time limit.
Annual scholarships are funded each year by the generous gifts of Taylor donors. The amounts given by March 1 are directly awarded to students the following academic year. If a donor decides to stop funding an annual scholarship, the scholarship will not be awarded that year; however, it can be reinstated at any time. The amount given for an annual scholarship is flexible, but a $1,000 minimum is preferred.
Heritage Weekend/President’s Dinner
Every spring, Taylor University hosts a President’s Dinner for both presidential partners and scholarship donors. The purpose of this event is to express appreciation and recognize scholarship donors for their generous contributions to students through Taylor and to provide an opportunity for them to meet the students who have received their scholarships. This year’s Heritage Weekend will focus on the heritage of missions at Taylor and will take place April 27-28.