Fact #3 Beloit College has over 16,000 living alumni, and nearly 1/3 of them give to Beloit each year. That’s about 4,500 alumni that just last year gaveover $3 million.
Those gifts ranged from $5 to six-figure gifts, depending on what each alumnus could afford. Their generosity keeps Beloit operating when tuition money runs out. In addition to grants and gifts from parents and other non-alumni donors, alumni support covers the other 14% of the college’s annual budget.
So, it is fair to say that a large portion of the scholarships and financial aid students receive each year is paid for by alumni. Most of these grateful alumni received scholarships when they were students, which enabled them to attend Beloit and benefit from a great education. Now, they pay it forward every year to support current Beloiters, like many of you reading this. The next time you meet an alumnus, thank them for helping to make your education possible.
This article is part of an informational series related to Tuition Runs Out Day. Keep an eye out on campus for more “Did You Know” fliers and other information, and check back tomorrow for another TROD fact.