“My experience at Luther College has been everything I could ever ask for and more. I am proud to be a scholarship recipient and proud to claim Luther as my school. The ongoing support, commitment, and connection to Luther from its alumni and friends provide opportunities for students to continue the Luther legacy.”
Jenna Ness ’11
Kaasa Family Scholarship recipient
Luther is committed to providing an affordable education to our students—approximately 98 percent of Luther students receive some form of financial assistance. Thanks to the generosity of our donors, Luther students now benefit from nearly 800 endowed scholarships that have been established at Luther.
Please note: All amounts discussed in this section are for donors who will fund the endowment through an outright gift or pledge. You may also choose to fund a named endowment through a planned gift. However, that may require a larger amount due to the timing of the gift. Please consult directly with the Development Office for specific details.
What types of gifts can fund a scholarship?
Scholarships may be funded with cash, gifts of stock or other appreciated property, or through planned gifts. Additional contributions may be made to the fund at any time, thus continuing to augment financial aid for students.
What size of gift do you need to create a scholarship?
A gift of $25,000 or more will establish an endowed fund which entitles the donor to designate the purpose for which the earnings may be used each year. For example, your endowed fund might provide scholarship support for students who come from a particular geographic area or who are studying in a specific discipline.
Legacy Trust donors may establish scholarships at the following levels:
|Scholarship Levels||Gift Amount||Annual Scholarship (5%)|
Each year approximately 5 percent of the value of the endowment is taken to provide scholarships, teaching support, and other program enhancements. All earnings and growth of the endowment over the 5 percent spending allowance are reinvested as a part of the endowment fund.
The spending rate is calculated on the endowment's sixteen-quarter average market value as of May 31 of each year. This method of calculation provides for year-to-year consistency in the value of the spending allowance.