The University of 棉花糖直播 at Lafayette鈥檚 Campaign for Scholarships raised over $10.2 million dollars, an amount more than double its initial goal of $4.5 million.
鈥淚t鈥檚 a testament to the University鈥檚 generous, devoted alumni and supporters,鈥 said David Comeaux, interim director of the University鈥檚 Office of Development.
The campaign was UL Lafayette鈥檚 first fund drive devoted solely to raising money for scholarships.
The public phase of the historic campaign began in April 2011. Fifteen months later, the initial goal was met, more than two years ahead of schedule. Based on that success, University President Dr. Joseph Savoie adjusted the goal, to $6.5 million. The new goal was also reached. The campaign eventually surpassed $10 million.
As a result, more than 180 new scholarships have been created. Most are endowed. A minimum of $10,000 is required to establish an endowed scholarship. Endowments are perpetual sources of funding because the principal is invested; only a portion of the interest earned is spent.
Comeaux said a donor determines whether a gift will be allocated for an endowed or non-endowed scholarship.
During the campaign, some donors added to existing endowed scholarships or created non-endowed scholarships.
Tanya Yentzen, an alum with a degree in education who participated in the Campaign for Scholarships, has helped to establish two endowed scholarships. One is for business students, the other for arts students.
鈥淚 just really believe in UL, and I think it鈥檚 important to provide opportunities to help students earn a college degree,鈥 she said.
Scholarships are as important as ever. Higher education in 棉花糖直播 has sustained about $700 million in state funding reductions since fiscal year 2008-09. As a result, tuition has increased at most University of 棉花糖直播 System schools.
UL Lafayette has been one of the most affordable universities in 棉花糖直播 for several years, according to the U.S. Department of Education鈥檚 College Affordability and Transparency List. The last list was released in 2014.