Lebanon Valley College has received a $1 million gift for student financial aid, the largest single foundation grant the College has ever received, college President Stephen MacDonald has announced. 'We are extremely grateful to the Stabler Foundation for this very generous award. This is very welcome news for our students and their families, especially in these turbulent financial times,' MacDonald said. The gift from the Donald B. and Dorothy L. Stabler Foundation of Harrisburg will create a new, permanent endowment to reduce the college loan burdens of some juniors and seniors from counties in central and eastern Pennsylvania.
'We are always looking for ways to help our students cover the costs of their education, and this extraordinarily thoughtful and timely gift will help many of our upperclassmen who have the greatest financial need,' said William Brown, vice president for enrollment, who oversees financial aid at the College.
The trustees of the foundation have asked that scholarship recipients be encouraged to make contributions to the Stabler Scholarship Fund after graduation in order to ensure that future generations of students will have the maximum funds available to cover their education costs. As an endowment, the principal sum of $1 million will remain untouched; only the interest and future repayments to the fund will be used for scholarships. Over time, the fund is expected to grow as more and more LVC alumni contribute to it. The primary consideration in awarding Stabler Scholarships will be the financial need of upperclassmen from counties in central and eastern Pennsylvania.
For incoming first-year and transfer students, Lebanon Valley College pioneered the return to merit-based scholarships, which guarantees that students who rank in the top 30 percent of their high school class receive one of three Lebanon Valley College Presidential Scholarships: students in the top 10 percent of their class are guaranteed Vickroy Awards for half off their tuition; students in the top 20 percent are guaranteed Leadership Awards for a third off their tuition; and students in the top 30 percent are guaranteed Achievement Awards for a quarter off their tuition.
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