A $10 million gift from an anonymous donor will enable first-generation students in Wake Forest University’s Magnolia Scholars program to substantially reduce their debt.
In doing so, this gift will enable Magnolia Scholars to experience college with fewer financial worries and consider opportunities they might not have otherwise.
Starting this fall, the endowed gift will provide an additional $4,000 annual award to each of the 120 scholars in this year’s program and for all Magnolia Scholars who follow in perpetuity. The funds will substantially reduce or eliminate the amount of the students’ need-based debt – which varies, based on family need – by supplementing other scholarships and grants these scholars may receive.
Read more at Wake Forest News