‘Gifts to area colleges are on the rise’

Charitable giving has reached an all-time high at colleges and universities across the nation and Worcester-area colleges are no exception.

The Telegram and Gazette reports that many institution are earmarking more funds for scholarships and financial aid.

Tracy W. Barlok, vice president for development and alumni relations at the College of the Holy Cross, said that 2014 was a record year for the institution.

“We exceeded more than $42 million for the first time in the college’s history for total gifts,” Barlok said. “In addition, our Holy Cross Fund, which is our unrestricted annual fund, also reached a record high, with $9.4 million. It was and extraordinary year for us.”

Although there are many noteworthy projects planned for the Holy Cross campus, including the new performing arts center which is estimated to begin construction in 2017, Barlok says that Holy Cross is going to continue to focus its fundraising efforts on increasing its financial aid budget so the college can continue its “need blind” admission policy. Holy Cross is one of a select group of colleges and universities that accept students regardless of their ability to pay. The College is committed to meeting 100% of admitted students’ demonstrated need.

Holy Cross also continues its “Worcester Initiative,” in which residents of Worcester who are admitted to the college and who come from families with incomes below $50,000 will receive four years of free tuition.

Read full article here.

This “Holy Cross in the News” item by Kelly Ethier.