Millersville University has recently announced that over $1 million will be given to students in the 2015-16 academic year. These funds will go towards scholarships and non-scholarship activities.
The Millersville University Foundation Board, the body charged with awarding these funds, were very excited when they reached the $1 million mark.
David Thompson, President of the MU Foundation Board, stated, “These funds are available due to the generosity of past donors who had the vision to support students and program needs through the funding of these designated endowments.”
The majority of these spendable dollars are placed into endowments to allow them to be used for future years. When the threshold of an endowment is made — $25,000 minimum in 5 years – the funds are then invested into the stock market to accrue interest. The future spendable dollars are then taken from the interest that the endowment made that year. The interest-gained funds are then used for operational allowances, scholarships and non-scholarship activities such as annual lectures, artists and academic research.
Today, the MU Foundation manages over 370 scholarship and program accounts, and holds assets in excess of $20 million.
Scholarships are a worthwhile thing to al*l students. It makes it possible to fund education and provide the necessary resources to help them succeed in the future. With the help of the MU Foundation and people that donate to Millersville, these scholarships are possible for students to attend Millersville, perform academic research and provide community service, internship and study abroad opportunities