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Home News U.Va. to offer $50M more in scholarships

U.Va. to offer $50M more in scholarships

University has matched $280M in donations to fund

Published September 30, 2021 by Katherine Schulte

University of Virginia Rotunda and Lawn. Photo courtesy University of Virginia
University of Virginia Rotunda and Lawn. Photo courtesy University of Virginia

The University of Virginia will invest another $50 million in matching funds through the Bicentennial Scholarship Fund, U.Va. President Jim Ryan said last week.

Established in 2016 with an initial $100 million investment, the fund matches philanthropic commitments toward scholarships, both need- and merit-based. Donors have committed about $314 million in endowed scholarships, and the university had already twice increased the amount dedicated for matches. U.Va. now has nearly 430 new scholarship endowments.

At a U.Va. Board of Visitors meeting, Ryan said, “This $314 million has leveraged approximately $220 million in matching funds for a total impact of nearly $535 million in endowed scholarships in just a few short years.”

In total, U.Va. has allocated $280 million in matching funds for scholarship support. At the time of the announcement, the fund had only about $10 million left, prompting the university’s investment.

“It is obviously an idea that has resonated and been enormously helpful to the university and its schools and students,” Ryan said in a statement.

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