Scholarship Giving
“Receiving a scholarship to attend Luther is a great honor. Having someone else invest in my education reminds me that others believe in my potential and are willing to help me access opportunities I might not have had without their financial support.”
—Kjerstin J. Wepking '04
“We believe that many of our personal and professional
successes can be attributed directly to our experiences at Luther. We
were fortunate to have received scholarships when we attended the college,
and now we're excited to participate in the scholarship program as a 'thank
you' for the opportunities our educations have made available to us.”
—Patti Ellingson Randall '82
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 94 percent of Luther students receive some form of need-based 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 overwhelming.
Since its inception, the Legacy Trust has helped grow Luther's scholarship endowment to more than $53.5 million, which is 53 percent of the total current endowment. Thanks to the generosity of our donors, Luther students—most of whom could not otherwise afford to be here—now benefit from nearly 500 endowed scholarships.
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.