TU meets France-Merrick Challenge two years ahead of schedule
Top 10% Program receives scholarship funds
TOWSON, Md. (March 25, 2009)— TU has met the terms of the France-Merrick Challenge for Top 10 Scholars, creating a pool of scholarship funds for economically disadvantaged students enrolled in the university’s Top 10% Program.
Admission to the Top 10% Program is offered to Baltimore City and Baltimore County students who ranked in the top 10 percent of their graduating classes. Scholarship commitments from university alumni, friends, faculty, and staff, as well as corporations and foundations, which total $1.5 million, will leverage a $500,000 grant from the France-Merrick Foundation.
Buoyed by a $1 million gift in fall 2008 from area philanthropist and TU friend Ruth Marder, TU wrapped up the five-year Challenge this month, two years ahead of schedule and just in time for the first class of Top 10% scholars to cross the commencement stage in May.
Approximately 95 percent of Challenge-eligible contributions were designated to endowment funds, which will grow over time to provide a sustaining source of support for economically disadvantaged Top 10% students. The remainder has been earmarked for operating scholarships, which heighten the program’s visibility and provide an immediate boost to the scholarship resources available to current Top 10% students.
Through the generosity of the France-Merrick Foundation and donors to the Challenge, 52 students have received scholarship support over the past three years.