February 14th, 2017 by WCBC Radio
A report from the Council for Aid to Education’s Voluntary Support of Education survey, reported this week by Marketwatch.com, listed Frostburg State University first among universities and third among all colleges for directing the largest percentage of contributions toward financial aid in 2016.
VSE data showed that FSU designated 77.6 percent of each dollar raised by the FSU Foundation to financial aid in 2016. Of all U.S. institutions surveyed, only two community colleges surpassed FSU’s 2016 percentage.
“We always strive to serve students’ financial needs, but this year’s ranking shows how much impact donors can have when they make gifts directed to scholarships,” said FSU President Ronald Nowaczyk. In 2016, the FSU Foundation received a bequest of more than $2.5 million from the estate of Woodward Pealer, a Cumberland businessman, who had designated the funds for scholarships.
“Mr. Pealer’s gift, because it was designated to scholarships, allowed us to significantly increase the percentage of funds available to students,” Nowaczyk said.
According to MarketWatch, the national average of donated dollars that have been dedicated to financial aid annually is approximately 16 percent, a rate that has gone essentially unchanged over the past 10 years.
“This highlights Frostburg’s ongoing focus: student success. Providing financial support to students is our first fundraising priority,” said John Short, FSU’s vice president for University Advancement and executive director of the FSU Foundation. “Each dollar we receive makes a very real impact on Frostburg students.”
The Marketwatch.com article can be accessed here: www.marketwatch.com/story/if-you-donate-to-these-colleges-theyre-more-likely-use-the-money-to-help-students-2017-02-07.
For information about supporting scholarships at FSU, contact the FSU Foundation at 301-687-4161 or visit www.frostburg.edu/foundation/ways-to-give.
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