All four founding classes to get free ride
The Antioch College Board of Trustees today announced the extension of the Horace Mann Fellowships to all students admitted for the next three years. The announcement comes after an extensive review of the College’s endowment and Annual Fund, which both saw major increases in the last six months, President Mark Roosevelt said.
“We don’t want economics to be an impediment to a high-quality liberal arts education,” Roosevelt said. “By providing four year, full-tuition scholarships, we make attending Antioch College a realistic option for the best and brightest students, regardless of their family’s economic situation.”
There have been major increases in both the College’s endowment and Annual Fund, explained Steve Sturman, vice president for advancement. The endowment, now at $51.7 million, grew more than 106.7 percent, in large part due to a $35 million payout from the sale of YSI Inc. of which the College was a major shareholder.
In December, the Annual Fund saw the largest one-month gain in College history, receiving $658,208. The Fund is at $1.2 million for the fiscal year 2011-2012, up 69.9 percent over last year. The goal is to raise a total of $1.8 million by the end of the fiscal year.
Roosevelt admits the College still faces significant financial challenges, but says the College “can comfortably invest in students” while senior leadership works to develop a low-cost operating model with less reliance on tuition dollars.