The UCM Alumni Foundation Increases Endowment Payouts to Help Ease Financial Burden on Students
For the sixth year in a row, the University of Central Missouri Alumni Foundation has increased the payout from its endowments to support students and academic programs.
The Foundation Board of Directors authorized a payout of $1.4 million for fiscal year 2018, which is a 7.81% increase from fiscal 2017, and nearly triple the payout since fiscal 2012.
Richard Phillips, the president of the UCM Alumni Foundation Board of Directors said, “Our alumni are passionate about their alma mater and recognize the opportunities created by the value of their college degree. Phillips added, "At a time when access to an affordable education is a growing challenge, the board’s commitment to investing in the success of our students and university is unwavering.”
University of Central Missouri President Chuck Ambrose stated, “One of our greatest priorities at UCM is to maintain college access and affordability for our students, particularly at a time when significant decreases in state funding pose historic challenges to our efforts to keep costs down. We are grateful for the support we receive from our alumni and friends who contribute to scholarships enabling more students to attend UCM."
The president added that "such efforts are contributing to a reduction of students’ debt by $15.2 million.
Ambrose credits that success to less dependence on federal loans, which have dropped by more than 22% since the 2012-2013 school year.