Supporting Scholarships and Grants
Endowed student scholarships are a critical component of the Iona Forever campaign. Merit- and need-based scholarships will enable Iona to continue to offer an affordable education and provide students with an opportunity to pursue higher education regardless of their economic status. Without a significant endowment, it is a challenge to offer support for academic and extracurricular life without increasing tuition.
Endowed and Restricted Scholarships
The feature that distinguishes an endowed scholarship from other types of donations is that the gift is preserved so that it will last indefinitely. Typically, the scholarship honors a donor’s loved one or the donor him/herself. When an endowed scholarship is established, the money is invested. Iona will never withdraw any of the principal. Only the interest earned is used to fund the scholarship. This makes an endowed scholarship a permanent gift.
The DeFeo Family Endowed Scholarship
- Established in 2006 by Ron '84 and his brother Philip '68
- To date, 38 students have been recipients
- Eligibility requirements: academic achievement & financial need
- DeFeo Scholars are among Iona’s best and brightest students
A restricted scholarship generates awards based only on the fund’s principal. Normally, the entire scholarship is awarded during an academic year. The donor must continue to replenish the scholarship every year in order for an award to be granted.
Endowed Scholarships at Iona College
- Over 100 endowed scholarships
- Awards range from $500 to $50,000
- 2016-2017 academic year, over 100 recipients
- Some scholarships have one recipient, others have multiple recipients
Establishing a Scholarship Fund at Iona
- The minimum threshold is $50,000
- Establish criteria: financial need, academic achievement, area of study or athletic involvement, or a particular region or high school
- The Office of Student Financial Services selects recipients
- Iona has the final authority to approve and implement terms that satisfy both the donor’s and Iona’s interests
Donors may wish to make a gift to any already established Endowed or Restricted scholarships.
If you are a student or relative of a student who is looking for financial aid, please contact Student Financial Services at (914) 633-2497 or firstname.lastname@example.org for more information.
If you are an alumni or friend of the College looking to establish/support a scholarship please contact Pamela J. Bottge '92 at (914) 633-2413 or email@example.com.