A top priority in the University’s comprehensive fundraising campaign was increasing access for talented students no matter their circumstances or background. And to date, the campaign has raised some $161 million for financial aid. Almost half that amount arrived via the Century Challenge.
“We need and want to work alongside our generous donors to make a BU education attainable for all of the accomplished young people we admit.”—Robert A. Brown
The challenge was straightforward: donors give at least $100,000 to endow an undergraduate scholarship. The donor names that endowment and designates eligibility criteria. “For example,” says Senior Vice President for Development & Alumni Relations Scott Nichols, “you could say that you want it to go to center-city urban kids or you want it to go to students who are interested in communications.”
But here’s the twist: the University has pledged to match the funds generated by each endowment for one hundred years, doubling the good done in the donor’s name. For example: if a donor gives $100,000 and the fund pays out $4,000 the first year, the student will receive $8,000 in scholarship support.
“We need and want to work alongside our generous donors,” says President Robert A. Brown, “to make a BU education attainable for all of the accomplished young people we admit.”
As of the close of the campaign, 150+ Century Challenge scholarships have been created, expanding the pool of opportunity for years to come.