College announces $2 million McAfee Scholarship Challenge
Dollar-for-dollar match on both new and existing endowed scholarship funds
WOOSTER, Ohio – Thanks to the generosity of William McAfee of the Class of 1932, The College of Wooster today announced the McAfee Scholarship Challenge, an opportunity for alumni, parents, and friends to have their contributions to new and existing endowed scholarship funds matched dollar-for-dollar. The challenge is made possible by a $2 million bequest from McAfee’s estate.
“The McAfee Scholarship Challenge is a wonderful opportunity for members of the Wooster family to have the impact of their gifts magnified,” said Sarah R. Bolton, the college’s president. “Keeping our distinctive education accessible to bright, hardworking students has always been at the heart of Wooster’s promise.”
A donor who wishes to establish a new, named endowed scholarship at the college must make a minimum commitment of $50,000. When pledge payments reach $25,000, the first dollar-for-dollar match from the McAfee Scholarship Challenge will be applied to the new fund. The challenge will match new gifts up to $100,000 per donor.
A donor who wishes to contribute to an existing endowed scholarship at the college must make a minimum commitment of $10,000. Those commitments will be matched dollar-for-dollar as payments are received, up to a total of $100,000 per donor.
In both cases, the donor must sign an endowed scholarship pledge agreement no later than June 30, 2018, and the pledge must be fulfilled no later than June 30, 2020.
Bill McAfee graduated from Wooster in 1932 with a bachelor’s degree in English and received the college’s Distinguished Alumni Award in 1982. A retired colonel in the U.S. Army, he served as deputy assistant secretary for intelligence coordination in the State Department’s Bureau of Intelligence and Research.
Increasing the college’s resources for student financial aid is one of five major priorities of the Wooster’s Promise campaign, along with supporting academic strength, experiential education, the life sciences, and The Wooster Fund. Launched in April 2017, the campaign aims to raise $165 million by June 30, 2018.
For additional information, please contact the Office of Development at 330/263-2325 or firstname.lastname@example.org.