University students from Fauquier County, Va., now may find it easier to receive financial aid, thanks to a gift from the estate of renowned philanthropist Paul Mellon.
All students from Fauquier County applying for financial aid automatically will be considered for the Paul Mellon Scholarships, which will be completely need based.
"The credit belongs to the executors and Mr. Mellon himself, and his long term relationship with the University," said Charles Fitzgerald, associate vice president of development, who helped Mellon's estate establish the fund.
Mellon's estate gave a $3 million endowment to establish the scholarship, along with $150,000 to cover the aid of Fauquier County students already enrolled and incoming students next year.
"It was very thoughtful to give the extra $150,000. If they hadn't we would have had to wait until the next academic cycle," Fitzgerald said. "It was really farsighted of them to make things happen immediately."
Mellon bequeathed books and assets to the University when he died in 1999 and named the University as an institution to receive discretionary gifts from his estate. As funds became available, the executors of Mellon's estate decided to provide aid for students attending the University from his home county.
Mellon, son of the wealthy Pittsburgh industrialist Andrew Mellon, moved to Fauquier county in the 1930s and called it home for most of his life. He developed a close affiliation with the University over the years.
Such endowments as Mellon's work by investing donations and using the interest earned from those investments to provide aid. The additional money will allow Student Financial Services to provide assistance to 16 students from Fauquier County already receiving aid.
"Depending on how many [Fauquier County] students are admitted, this could conceivably cover their entire financial need," said Donna Oliver, senior assistant director of financial aid. "It's a great scholarship."
Scholarships devoted to students from a particular area are not uncommon. Oliver explained that many donors give preference to applicants from a place close to their hearts.
Oliver said she hope the scholarships will encourage more students from Fauquier County to apply to the University.
"It will be in the news there," Oliver said. "Maybe it could increase applicants from the area."
Fitzgerald agreed, explaining that cost often dissuades students from applying.
"Some people say they aren't going to apply because they can't afford to go anyway, or think they have to attend a junior college for a few years," Fitzgerald said. "Once they find out this is available it could motivate them"
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