Scholarship Giving
“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
The Legacy Trust—The Endowed Scholarship Program of Luther College
The Legacy Trust is an opportunity for you to invest in the lives of young people who want to study at Luther College. Luther is committed to providing an affordable education to our students; approximately 98 percent of Luther students receive some form of financial assistance. Unfortunately, federal aid, student earnings, and parents' savings are often not enough. Scholarship support is critical as students search for ways to meet the rising costs of education. You can help by establishing a Legacy Scholarship which will ensure a quality education for Luther students.
The Legacy Trust, Luther's endowed scholarship program, was established in 1986 in connection with the 125th anniversary of the college. The initial objective of the program was to add at least $250,000 to Luther's scholarship endowment fund each year. Response to the program has been extraordinary over the years, with over $60 million in cash and planned gifts raised since its inception. Thanks to the generosity of our donors, Luther students—most of whom could not otherwise afford to be here—now benefit from more than 500 endowed scholarships that have been established at Luther. As we look ahead to our sesquicentennial, scholarship endowment will continue to be a top priority at Luther College.
As part of the $50 million Sesquicentennial Fund, Luther seeks to raise $12.5 million to add at least 150 new scholarships funded by outright gifts and pledges, and 150 new scholarships funded by planned gifts. Together these new scholarships (as well as enhancements to existing scholarships) will help keep the four-year undergraduate experience affordable for all students.
Establishing a Legacy Scholarship
When you contribute at least $25,000 to endow a Legacy Scholarship, you have the privilege of naming that fund. Some donors have chosen to honor a family member, classmate or favorite professor.
Scholarships may be funded with cash, gifts of stock or other appreciated property, or through planned gifts. Gifts to Legacy Trust scholarships will be administered according to the endowment policies established by the Luther College Board of Regents. Additional contributions may be made to the fund at any time, thus continuing to augment financial aid for students.
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:
Gift Amount |
Projected Annual Scholarship (5%) |
|
| Legacy Scholarship | $25,000 |
$1,250 |
| Vision Scholarship | $50,000 |
$2,500 |
| Founders Scholarship | $100,000 |
$5,000 |
| Heritage Scholarship | $250,000 |
$12,500 |
If you wish to establish a named scholarship endowment fund but cannot give the full amount initially, the college will establish the fund on an inactive basis. You may continue to contribute to it, and the earnings on all gifts to the fund will be reinvested fully each year and added to the fund. No scholarships will be awarded while the fund is inactive. Upon reaching a balance of $25,000, the fund will become active, and the first awards will be distributed in the fall of the following year.
Awarding scholarships to students
The Financial Aid Office solicits names of qualified students from academic departments and matches your scholarship award(s) with the appropriate student(s). When all the final selections have been made in late fall or early winter, we will send you additional information about the student(s) receiving your scholarship funds.