1997-1998 Cedarville College Annual Report

10 Student Costs and Sebolarsbips C edarville College offers compelling academic programs based on biblical truth. This combination consistently attracts highly qualified students. By offering an outstanding education at a competitive price (almost 30 percent below the national average for private colleges), we ensure student accessibility. Increasing student access has become a growing concern in higher education. Many institutions address this concern by inflating their tuition and fees to provide financial assistance to those students with "demonstrated need." Consequentially, those who can afford it often end up paying the total cost for themselves-and others. These institutions collect tuition and fees in excess of the actual cost of providing the education and distribute it to some students as scholarships, grants, and other financial aid. Unfortunately, this policy forces families with ample financial resources to assist students completely at the discretion of the college. The college decides to whom they will distribute these excess funds, leaving the people who provided the funding out of the loop. Cedarville College believes there is a better way to provide financial assistance while keeping educational cost to a minimum-one that allows the individual to decide the use of his or her gift and to share in the blessings of helping those in need. As of December 1998, donors initiated a total of 110 scholarships. This type of contribution allows Cedarville College to base tuition and fees on the actual cost of providing the education. Consequently, financial aid funding is not masked by inflated tuition. Participating in a scholarship agreement has also allowed these donors to direct the way their gifts will be used. They are able to shape the world around them by helping students involved in areas of special interest to them- a particular academic major, career goal, financial need, or academic achievement. The donor's investment affects not only the life of the individual student, but also the lives of those the student touches after graduation. One such scholarship is the Cal Thomas Scholarship. This scholarship was established in 1998 and funded by a Cedarville College trustee and his wife. The purpose of this scholarship is to "recognize Cal Thomas for his conservative influence and impact on the national media and to encourage Cedarville College students to enter media careers with the intention of and the competencies to influence the media for Jesus Christ." Eight students received $2,500 each as the first recipients of this prestigious award. Beyond lending his name to the scholarship, Cal Thomas has offered to maintain contact with each student recipient and to act as a mentor to them as they finish their education and pursue their media careers . Scholarship funding is a high priority for 1999 and beyond. Interested persons may donate to a general scholarship fund or may establish a separate, endowed, named scholarship agreement for specific interests. Separate, endowed scholarships require certain funding levels. For more information, please contact either Kim Longo or David Bartlett in the Office of Planned Giving at 1-800- 7 66-1115 . 1998...A Year of Generosity to Cedarville I n the 1998 calendar year, gifts to Cedarville and its ministries totaled $6. 7 million. Almost 20,000 gifts were given by alumni, friends, churches, corporations, and foundations. 1998 was the first of a five-year multi-million dollar strategic effort to further enhance the value of a Cedarville education through scholarships, programs, and fac ilities. The desire of the administration and board of trustees is to fund this strategic effort through gifts rather than increased student costs. The number and the sum of gifts in 1998 was a solid first step in helping fulfill elements of this five-year vision. "So many are joining us in our vision to add more facilities, enhance current facilities, add new majors and a graduate program, maintain our technological edge for students, and give our students more value for their tuition dollar," said Dr. Dixon, now entering his twenty-first year of leadership at Cedarville. "Our five-year vision is ambitious, but it is all in God's hands. And as I always say, the story of Cedarville is all about God and His work through people. I am grateful for each one who prays, gives, helps recruit students, or shares the story of Cedarville." Of the gifts given to Cedarville in 1998, over 6,000 were given to the College's Annual Fund, which topped out at over $1 million. The Annual Fund is designed to bridge the gap between what students pay and what it truly costs Cedarville to provide their education; this academic year that gap stands at $520 for each student. It is a key element in satisfying program enhancements within the five-year effort. Of the $1 million Annual Fund total, churches accounted for $150,000; alumni $218,000; parents of alumni and students, $184,000; and friends, $212,000. The remainder came from corporations and foundations. Those alumni, parents, and friends involved in the Annual Fund's giving programs– the Torch Club, Charter Society, and President's Associates-generously provided almost $400,000. In October, a new giving program, the Chairman's Council, was announced to recognize those who give $5,000 or more to the Annual Fund. "We are so grateful for our progress so far. We pray that those who joined us in 1998 will do the same for 1999 and beyond. What an impact they are making on the students of Cedarville!," shared Dr. Dixon.