Chicago Regional Endowed Scholarship
"The excellent education we offer must be more accessible. We must make a Penn education available to all outstanding students of talent and high potential. In a democracy and at great Universities, diversity and excellence go together. Keeping them together requires access based on talent, not income or race."
-President Amy Gutmann Inaugural Address, October 15, 2004
The University of Pennsylvania is one of a select group of colleges and universities with a policy of need-blind admissions and need-based financial aid. This means that every undergraduate applicant is evaluated solely on the basis of that student’s record of achievement, and once a student is admitted, the University provides as much aid as the student requires. Penn’s sacred trust – our unwavering commitment to this policy – guarantees that a Penn education is accessible to and attainable by those remarkable young people aspiring to challenge themselves with a world-class education.
Today more than 40% of undergraduates receive financial aid directly from the University. For FY’05, the student aid budget exceeds $75 million. Of that, only $10.5 million – or 14% - is covered through income from the scholarship endowment. The remaining $64.5 million is funded from Penn’s general operating budget.
Penn is under-endowed for undergraduate financial aid and scholarships, a problem that threatens Penn’s promise to make a Penn education available to every qualified student.
Under the leadership of the Chicago Regional Ambassadors, we have raise over $150,000 to create an endowed scholarship fund to benefit a student from the Chicago area. This means that the Chicago Regional Endowed Scholarship will fund a student with a partial scholarship in perpetuity. Over forty alumni, parents, and friends of the University of Pennsylvania living in the Chicago region pledged to this effort. Although the scholarship is funded, additional gifts will increase the amount of support that the recipient receives. Gifts may be made by check or credit card. Those who wish to give securities, or direct a gift through their donor advised fund, are encouraged to contact Mark Banegla for instructions.
Mark Bangela, Major Gift Officer, Midwest Region - (215) 746-6960